Main Risks of Aerospace Engineering Projects: How to Implement Wise Risk Management into Your Organization

Epicflow Blog

The aerospace engineering sector deals with mostly large and complex projects. Accordingly, they are more vulnerable to the consequences of risk-bearing events. What are the most typical risks associated with aerospace engineering projects, and how to manage them effectively?

Aerospace and Defense Industry 2022: Project Management Challenges and Ways to Address Them

Epicflow Blog

In the previous article , we’ve reviewed the most prominent trends that are expected to impact the aerospace and defense industry this year. In turn, they will affect the way its projects will be managed. Challenges In the Aerospace & Defense Projects . Managing uncertainty.

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Reduce the Risk – Share the Success

International Institute for Learning

By Luigi Morsa , Aerospace Engineer and Project Manager, SII Engineering & IT Risk Management is the act or practice of dealing with risk. Risk Management is important because it is directly connected to the Project Success.

2022 52

Software Estimating Resources

Herding Cats

This blog page is dedicated to the resources used to estimate software-intensive systems using traditional and agile development methods. The reason for this resource page is the lack of understanding of how to estimate, the urban myths about software estimating, and the fallacies that estimating is not needed, when developing software, in the presence of uncertainty, when spending other peoples money. Estimating Probable System Cost,” Stephen A.

Estimating is a Learned Skill

Herding Cats

Estimating is a learned skill, used for any purpose from every-day life to management of projects. When I left for the airport this morning to catch my flight to a customer site I estimated, given the conditions, how much time I need to get to my favorite parking spot at DIA. The same process for estimating is applied to multi-billion dollar projects we work. Here's some materials that provide the tools and processes needed to learn how to estimate.

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) ? Effective Risk Management 2 nd Edition , Edmund Conrow, AIAA, 2003. Risk Management is Project Management for Adults - Tim Lister.

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Project Management, Performance Measures, and Statistical Decision Making

Herding Cats

I work in the Software Intensive System of Systems domains in Aerospace, Defense, Enterprise IT (both commercial and government) applying Agile, Earned Value Management, Productive Statistical Estimating (both parametric and Monte Carlo), Risk Management, and Root Cause Analysis with a variety of capabilities. This is from one of our presentations from a International Cost Estimating and Analysis Association meeting on the same topic.

Increasing the Probability of Program Success

Herding Cats

Our topic is Increasing the Probability of Program Success Thorugh Continuous Risk Management. . The origins of this paper came about at a recent JSCC meeting here in Boulder, with local Aerospace contractors, the DCMA (Defense Contract Management Agency) and several government agencies (NRO and NASA). Risk Management is How Adults Manage Projects. If you are not managing risk on your project, what are you managing?

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Managing in Presence of Uncertainty

Herding Cats

Let's say you're the project or program manager of a large complex system. 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. This knowledge can be used to assess and re-estimate the effort required to complete the project. NoEstimates Estimatin

Process Reduces Agility? Only on De Minimis Projects

Herding Cats

Agile for Aerospace Andrew Buter, Curt Stienstra, Steven H. A Closer Look at 804, A Summary of Considerations for DOD Program Managers, CMU/SEI-2011-SR-015. And of course, each of these domains operates in the presence of reducible and irreducible uncertainty requiring Risk Management processes. When managing any project as Risk Managers as Tim Lister suggested, we need to make estimates in the presence of these uncertainties as well.

The Problems with Schedules

Herding Cats

Unrealistic Cost and Schedule estimates based on inadequate risk adjusted growth models. Inadequate accessment of risk and unmitigated exposure to these risks with proper handling plans. Before diving into the details of these, let me address another issue that has come up around project success and estimates. All that line says is this was the baseline estimate at Completion for the project work. There is no ideal in the estimating business.

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DDSTOP The Saga Continues

Herding Cats

There's been a rash of conjectures about all kinds of bad business, project, and software development (agile and traditional) management ideas of late. If you're not an expert, you're not going to recognize the possible solutions, risks, impediments, and opportunities for the problems you'll encounter in developing a solution that has never been developed before. And then some more resources for managing in the presence of complexity . link] Cost Estimating Tools.

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DDSTOP The Saga Continues

Herding Cats

There's been a rash of conjectures about all kinds of bad business, project, and software development (agile and traditional) management ideas of late. 40 - Estimation is a Problematic Practice of Companies Doing Dangerous Things. A #Noestimates advocate makes the claim that having a ±10% accuracy for estimates of cost and duration is a dangerous thing. Define the probabilistic ranges of the work in a single point estimate manner. link] Cost Estimating Tools.

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Monte Carlo Simulation

Herding Cats

In casinos, the betting rules ensure the house wins (Eliminates Risk) over time. Not because of its use for estimating cost, schedule, and technical performance outcomes on projects, but because this simulation started with a casino's need - in Monte Carlo - to have some level of confidence on how much money they needed every night for the roulette wheel. Precision - how small is the variance of the estimate? Accuracy - how close is the estimate to the actual value?

2018 34

The Impact of Technology on Project Management: Pre-1950s to the Modern Age

Keyedin

Project management (PM) dates back as far as there has been a need to achieve things. The earliest known use of a project management system was the building of the pyramids in Ancient Egypt - although the manner in which this project was ran would be a little more than questionable in this decade. During and after the world wars, activities were beginning to be completed on a larger scale, meaning there was more need for budget, supply and labour management.

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The Impact of Technology on Project Management: Pre-1950s to the Modern Age

Keyedin

Project management (PM) dates back as far as there has been a need to achieve things. Project management as we know it today began to reveal itself during the industrial revolution, when businesses and industries began to expand rapidly and automation was introduced into sectors. During and after the world wars, activities were beginning to be completed on a larger scale, meaning there was more need for budget, supply and labour management.

2019 60

Get to Know Us Better: Frequently Asked Questions about Epicflow

Epicflow Blog

They provide a project manager with analytics based on the data retrieved from Jira or MS Project. Secondly, you can create a special Material Group which is aimed at controlling and managing activities associated with the production and consumption of materials.

2021 83

The Simple Way to Improve Scheduling on Projects

Liquid Planner Productivity

Project managers do their very best to stay on top of dates, but in complex environments where people work on many projects at the same time, it is simply not possible for the human brain to calculate realistic start and finishes in the moment. Wrangle uncertainty with ranged estimation.

2021 56

9 Inspirational Teamwork Examples

ProjectManager.com

According to NASA, there were an estimated 400,000 people involved in making the moon landing possible. This included teams of scientists, engineers and technicians, many who had not worked in aerospace before. There’s the logistics management of aligning so many troops and equipment, while keeping the whole operation a secret. There was no central government and the risk of the new nation falling apart was even more of a concern than it is today!

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Complete Collection of Project Management Statistics 2015

Wrike

Need up-to-date facts and figures for a project management report, article, or infographic? Browse this collection of project management statistics collected from studies and reports from the past five years. Benefits of Project Management. —1A. Project Management Methodologies. —1B. Project Management Best Practices. —1C. Agile Project Management. Project Management Salaries. Project Management Training & Certification. Aerospace/.

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Modeling the Future is the Basis of Project Success

Herding Cats

This ignores the principles of predictive analytics, and the direct management actions taken to produce outcomes from those analytical models found everywhere from project management to grocery store management and the model-based systems engineering. PP&C lives in the domain of Project Management and Controls, which is a Technical Management Processes of ISO 15288. In ISO 15288 this is the role of the Risk Management Processes.

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