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Webinar Recap: Project Performance Measurement – Part 1: Overview Of Project Performance Measurements

MPUG

Please find below a transcription of the audio portion of Fletcher Hearn’s session, Project Performance Measurement – Part 1: Overview Of Project Performance Measurements, being provided by MPUG for the convenience of our members. Kyle: Hello, and welcome to part one of MPUGs Project Performance Measurement course.

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The 5 Phases of Project Management Process and Techniques

NimbleWork

Whether you’re overseeing a software development project or managing a construction project, understanding the key project management processes, techniques and strategies are essential for achieving success. It helps project managers and teams organize and define the scope of work, identify tasks, and estimate resource requirements.

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Managing in Presence of Uncertainty

Herding Cats

This is an immutable principle that impacts planning, execution, performance measures, decision making, risk, budgeting, and overall business and technical management of the project and the business funding the project no matter the domain, context, technology or any methods. All project work operates in the presence of uncertainty.

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Modeling the Future is the Basis of Project Success

Herding Cats

For approaches that have been implemented on existing systems, obtaining such understanding may require measurement and analysis. For scenarios where the project under consideration does not yet exist, performance prediction using analytical modeling or simulation is necessary. In the construction business, this is well understood.

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Decision Analysis - Ordinal and Cardinal Measures

Herding Cats

Often during TRL 3, a proof-of-concept model is constructed. No Credible Decision Can Be Made in the Presence of Uncertainty with making Estimates of the Impact of those Decisions. Once the proof-of-concept technology is ready, the technology advances to TRL 4. During TRL 4, multiple component pieces are tested with one another.

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Microeconomics and Risk Management in Decision Making for Software Development

Herding Cats

When we hear about software development disasters and then hear that estimates are to blame, and NOT Estimating will somehow reduce or prevent these disasters, think again. Each of the categories operates in the presence of uncertainty and requires that estimates be made about the probability, conseqeunce of the resutling risk.

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The Complete Glossary of 614 Project Management Terms

Workamajig

Actual dates are different from planned or estimated dates. Actual Effort: The actual effort spent to complete the activity, as opposed to the planned or estimated effort. Actual Expenditure: The actual expenditure spent to complete the activity, as opposed to the planned or estimated expenditure.