article thumbnail

So what’s in your company’s project management dictionary?

Kiron Bondale

Let’s consider a team’s degree of confidence in its estimates. A project funding policy might require that team submitting detailed estimates should have a confidence of ±5% but what does that really mean? Issue or risk severity and probability. Without establishing some quantitative measures (e.g. Project manager.

2011 168
article thumbnail

Basis of Estimating Software Development

Herding Cats

The estimating of software development is both straightforward and complex. When it is suggested that estimating is hard, of no value, and unnecessary, always ask what principle is used to support that claim? Software Sizing and Estimating: Mk II FPA , Charles Symons, John Wiley & Sons, 1991. Don't hear one?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Risk Management Resources

Herding Cats

Risk Management is essential for development and production programs. Risk issues that can be identified early in the program, which will potentially impact the program later, termed Known Unknowns and can be alleviated with good risk management. requires making estimates) ? Risk Management Papers. “A

article thumbnail

The Psychology of Forecasting Uncertainty

LiquidPlanner

LiquidPlanner can help take the guesswork out of forecasting, seamlessly processing the knock-on effects of revised estimates, resource-leveling across related dependent tasks, and mitigating the impact of uncertainty in the most efficient way possible. . Kahneman, Thinking, Fast and Slow, New York: Farrar, Straus and Giroux, 2011. .

2009 147
article thumbnail

Risk Management is Project Management for Adults

Herding Cats

The basis of risk management in our community starts with NASA's principles. Risk-Informed Decision Making, NASA/SP-2010-576. Risk Management Handbook, NASA/SP-2011-3422. Technical Probabilistic Risk Assessment (PRA) Procedures for Safety and Mission Success for NASA Programs and Projects, NPR 8505.5A.

article thumbnail

Risk vs Issue: Everything You Need to Know

Wrike

Whether you realize it or not, we make risk vs. issue calculations all day long. Well, because of the risk: Getting pulled over by police, or worse, putting peoples’ lives in danger. Managing risk vs. issue in project management isn’t always so cut-and-dry. Risk vs. issue: What’s the difference?

Risk 36
article thumbnail

A Compendium of Risk Management Resources

Herding Cats

This blog page is dedicated to the resources used to manage the risk encountered on software-intensive systems using traditional and agile development methods. Let's start with a critical understanding of the purpose of managing risk on software development projects. Risk Management is essential for development and production programs.