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Fallacy of the Day

Herding Cats

In the Project Controls paradigm, Value is a measurable attribute of the project controls process - a Closed Loop Control measure. The units of measures of Cost and Time are straightforward. The Measures of Effectiveness. Measures of Performance. The Technical Performance Measures.

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Misinterpretations of the Cone of Uncertainty

Herding Cats

The Cone of Uncertainty as a Technical Performance Measure. Closed Loop Stochastic Adaptive control in the presence of Evolving Uncertainty. Active reduction requires we have a desired reduction goal, perform the work, and measure progress toward the rduction goal. Measure of Effectiveness.

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Cone of Uncertainty - Part Cinq

Herding Cats

When actual measures of cost, schedule, and technical performance are outside the planned cone of uncertainty, corrective actions must be taken to move those uncertanties inside the cone of uncertanty, if the project is going to meet it's cost, schedule, and technical performance goals. . Resources. [1]

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Cone of Uncertainty - Part Cinq (Updated)

Herding Cats

- How much variance reduction needs to take place in the project attributes (risk, effectiveness, performance, cost, schedule - shown below) at what points in time, to increase the probability of project success? This is a closed loop control system for managing the program with a T echnical Performance Measure (TPM).

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Cone of Uncertainty - Part Trois

Herding Cats

When actual measures of cost, schedule, and technical performance are outside the planned cone of uncertainty, corrective actions must be taken to move those uncertanties inside the cone of uncertanty, if the project is going to meet it's cost, schedule, and technical performance goals. . Air Force. [4]

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Compendium of Works to Increase Probability of Project Success

Herding Cats

Technical Performance Measures (#TPM). Cost, Schedule, and Technical Performance Management (#CSTPM). Governance (#Governance). Managing Government Grant Projects at Arizona Public Service - APS management process for Department of Energy grant for algae CO2 capture project. Project Performance Management.

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Why Johnny Can't Do The Math

Herding Cats

The 2008 mortgage crisis for example (although many did an made lots of money), the government didn't. The term “Black Swan event” has been part of the risk management lexicon since its coinage in 2007 by Nassim Taleb in his eponymous book titled The Black Swan: The Impact of the Highly Improbable.