6 Tools and Techniques for Controlling Risks

Project Risk Coach

Technical performance measurement. The technical performance measurement is a measurement of the technical accomplishments. During the cost planning, the contingency and management reserves are added to the project budget as needed. And they regularly perform the control activities to keep the project healthy. Changes in project risks are inevitable.

Performance-Based Project Management®

Herding Cats

Performance–Based Project Management ® integrates five critical program management process areas with – Cost, Schedule, and Technical Performance Measures. The inclusion of Technical Performance Measures (TPM) separates this approach from conventional methods based solely on managing cost and schedule. Done” is always defined in units of measure meaningful to the decision maker. Who's Budget is it Anyway?

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How to Talk About Estimates

Herding Cats

We can't talk about estimates or estimate, without also talking about the precision and accuracy of the estimate (the noun) after we have performed the estimate (the verb). . If I'm risking two weeks of work for the Scrum team of 5 people it's a much different need from the risk of a $10B manned spaceflight program being supported to congress for budget authorization. . What is an estimate?

4 Fallacious Reasons to Estimate and Why Those Are Fallacious

Herding Cats

This is a recurring theme of #NoEstimates it's a waste to me the developer, I'd rather be coding , I'm not good at estimating , I see no value in my making estimating when you're just going to use them against me when I'm late and over budget. I need an estimate because… I need to measure productivity. Thus, the common approach to "measure productivity" is to compare the estimates against what, in fact, happened.

Risk Management in Five Easy Pieces, with Apologies to Jack

Herding Cats

Managing Cost, Schedule, & Technical Performance Risk Is The Basis Of Good Project Management. Certain information about key project cost, performance, and schedule attributes are often unknown until the project is underway. What are the “units of measure” for this increasing maturity? Using the Triangle Distribution for the costs and durations, a Monte Carlo simulation of the network of activities and their costs can be performed.

2017 37

Misinterpretations of the Cone of Uncertainty

Herding Cats

The Cone of Uncertainty as a Technical Performance Measure. Active reduction requires we have a desired reduction goal, perform the work, and measure progress toward the rduction goal. Management of this reduction work and measurement of the progress is a Close Loop Control System paradigm. Closed Loop Control, has a goal, an action, a measurement, and a corrective action. The Cone of Uncertainty as a Technical Performance Measure.

2017 32

Five Immutable Principles of Project Success

Herding Cats

Without these measures, Done will usually mean . Without these measures, Done will usually mean we ran out of time and money. . The test of the hypothesis for projects are the Measures of Effectiveness, Measures of Performance, Key Performance Parameters, and techTechnicalformance Measures used to assess progress to plan for the project. Show up over budget for the ERP, the ROI we told the Board of Director is now wrong.

2017 35

Compendium of Works to Increase Probability of Project Success

Herding Cats

Project Performance Management (#PPM). Technical Performance Measures (#TPM). Cost, Schedule, and Technical Performance Management (#CSTPM). The overarching theme is focused on defining what Done looks like, assessing progress toward Done in units of measure meaningful to the decision makers. Those units always start with Measures of Effectiveness and Measures of Performance. Project Performance Management. EVM World 2017.

2015 37

Deconstructing the Hertz and Accenture Debacle

Herding Cats

Of course, No Root Cause analysis has been performed by these advocates, but it makes good click bait for their followers. Were there: Measures of Effectiveness. Measures of Performance. Key Performance Parameters. Did this Programmatic Architecture define all the player, what they were accountable for, the units of measure to assess the credibility, validity, quality, and compliance of their products with the PEP? Measures of Physical Percent Complete.

Cancelling Projects: The Project Isn't Being Done Right

Project Health Check

A classic way to consider project performance is via the triple constraint of scope/cost/time, often with quality thrown in the mix. Although these Projects can sometimes eventually be recovered and successfully deliver what they set out, on some occasions they could go so far off the rails that they becomes undeliverable – perhaps it many times over budget and years late. In part 1 of this article series, we accepted that Projects sometimes need to be cancelled.

2017 179

Biases in Project Management and How to Remove Them

Herding Cats

What dos Done look like in units of measure meaningful to the decision makers? What is the Plan to reach done at the needed time for the needed budget, with the needed outcomes? What are the measures of physical percent complete needed to inform the decision makers of progress to plan in order to take corrective or preventive actions to stay on plan? Andersson, Journal of Risk and Uncertainty , 54(1), June 2017. [3]

Biases in Project Management and How to Remove Them

Herding Cats

What dos Done look like in units of measure meaningful to the decision makers? What is the Plan to reach done at the needed time for the needed budget, with the needed outcomes? What are the measures of physical percent complete needed to inform the decision makers of progress to plan in order to take corrective or preventive actions to stay on plan? Andersson, Journal of Risk and Uncertainty , 54(1), June 2017. [3]

Advice for Project Managers: How do I measure the success (or failure) of my projects?

LiquidPlanner

“Dear Elizabeth: I want to get better at measuring the success (or failure) of my projects. And how can I use these metrics to improve project performance?”. You can measure time taken to fix defects, number of change requests, deviation from schedule baseline, percent complete, burn rate, or anything else you want. These measures will give you some interesting management information and might help you manage the team. Then track your actual performance.

2017 79

What is an Estimate? What is Estimating?

Herding Cats

There are several partitions of this information that are common in building the Performance Measurement Baseline (PMB). The PMB is a time phased, budgeted description of the project. In traditional programs, this is an Integrated Master Plan and Integrated Master Schedule, with budgets laid into the Work Packages. I work in a domain where estimates are made every single week.

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. Do we have measures of Effectiveness, Performance, all the .ilities. Is each of these measures being met for the planned cost at the planned time? .

Cone of Uncertainty - Part Cinq

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates (cost and schedule) and other project attributes (cost, schedule, and technical performance parameters). Estimates of cost, schedule, technical performance on the left side of the cone have a lower probability of being precise and accurate than estimates on the right side of the cone. The Cone is NOT the result of the project's past performance.

2017 33

Deconstructing The Cone of Uncertainty

Herding Cats

Shipping on time, to specifications, and within budget might be meaningless if a competitor is shipping software that has a greater value to the market. Landmark’s measure of success over these three years had much more to do with customer satisfaction and market share than with meeting knowingly aggressive targets. The notion of reducing uncertainty may be possible, but shipping on time and budget may be meaningless if a competitor ships greater value.

2007 37

Cone of Uncertainty - Part Cinq (Updated)

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates (cost and schedule) and other project attributes (cost, schedule, and technical performance parameters). Estimates of cost, schedule, technical performance on the left side of the cone have a lower probability of being precise and accurate than estimates on the right side of the cone. The Cone of Uncertainty describes the evolution of the measure of uncertainty during a project.

2017 30

Cone of Uncertainty - Part Trois

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates (cost and schedule) and other project attributes (cost, schedule, and technical performance parameters). Estimates of cost, schedule, technical performance on the left side of the cone have a lower probability of being precise and accurate than estimates on the right side of the cone. The Cone is NOT the result of the project's past performance.

2017 28

Cone of Uncertainty - Part Deux

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates or any other project attribute (in this post, cost, schedule, and technical performance parameters). Estimates of cost, schedule, technical performance on the left side of the cone have a lower probability of being precise and accurate than estimates on the right side of the cone. This is a closed loop control system for managing the program with a T echnical Performance Measure (TPM).

2017 30

Risk Management is How Adults Manage Projects

Herding Cats

All making things smaller dos is show that you're late, over budget, and what you're building (Technical Performance Measures) doesn't work faster. But when some statement is made about risk, estimating, performance modeling, or the like - always ask for references. Complete Guide to the Basics of Project Risk Management: Improve Your Chances for Success, Dmitry Nizhebetskiy, Project Management Basics, 2017.

2003 38

Modeling the Future is the Basis of Project Success

Herding Cats

The model of the project or program tells us what the cost, schedule, and performance - Effectiveness and Performance - Need to be for the project to be a success. Past performance data or the Model of the needed Future performance of the project? . Performance Analysis and Prediction . Performance of cost, schedule, and technical outcomes are primary measures of success for the future outcomes of projects. There's a notion going around that. “I

2018 36