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Project Management Processes & Phases

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If so, it might be time to start implementing proven project management processes and phases at your organization in order to bring your company’s workflow under control. Phases of Project Management. Administrate: Manage the contracts secured in the project.

Project Estimation: Master the Tools and Techniques

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There are two reasons why Project Estimation is a big deal for project managers. And second, poor estimates are often a primary reason for a project cost or schedule over-run. What is Project Estimation? Why is Project Estimation so hard? The Estimation Knife Edge.

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Estimating the Risk

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Risk is everywhere on projects. This risk comes from two types of uncertainty. Aleatory uncertainty, which is the naturally occurring yields variances in the underlying processes. Epistemic uncertainty comes from probabilistic processes that can be addressed with handling responses. The idea of risk and its management and handling is a critical success factor for all software development. Without these estimates, there is no risk management.

Software Estimating Resources

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This blog page is dedicated to the resources used to estimate software-intensive systems using traditional and agile development methods. COSMIC Software Estimation Approach,” Alain Abran, ICEAA Workshop, Portland Oregon, June 6?9, Estimating Probable System Cost,” Stephen A.

RBS is one more technique for your estimation tool belt!

Kiron Bondale

Project managers need to be comfortable with different estimation techniques. Foundational project management courses will teach you about analogous, bottom-up, parametric and three-point estimating. Estimate the size or effort of that story or work package.

The Project Manager’s Guide to Simple Risk Analysis

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Risk analysis is both easy and hard at the same time. No project manager can get by without knowing how to analyze risk on your project. Risk is important, because it is baked into the nature of projects. Risk analysis is one part of the wider Risk Management process.

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Principles of Cost and Schedule Estimating

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One of the 4 summary root causes of project performance failures is Unrealistic Cost and Schedule Estimates based on inadequate risk-adjusted growth models. Managing in the presence of uncertainty is standard business practice. Related articles. IT Risk Management.

How to Talk About Estimates

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What is an estimate? An estimate as a noun is an approximate calculation or judgment of the value, number, quantity, or extent of something. An estimate as a verb is to roughly calculate or judge the value, number, quantity, or extent of. Related articles. Estimates.

Estimates, Forecasts, Projections

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Estimates. An Estimate is a value inferred for a population of values based on data collected from a sample of data from that population. The estimate can also be produced parametrically or through a simulation (Monte Carlo is common, but Method of Moments is another we use). . Estimates can be about the past, present, or future. We can estimate the number of clams in the Pleistocene era that are in the shale formations near our house. Estimate to Complete.

Decisions Without Estimates?

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Can you make a decision without an estimate? There are NO means of making a credible decision in the presence of uncertainty without estimating the outcome of that decision. These two points of view are the basis of any credible business management process.

Why Johnny Can't Estimate?

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Risk Management is How Adults Manage Projects - Tim Lister. Since all risk comes from uncertainty - reducible (Epistemic) and irreducible (Aleatory), estimating is a foundation of all we do. There is no discussion of the conjecture that estimates are a waste, estimates can't be done, estimates are evil, estimates must be stopped immediately. Paradigm of agile project management from Glen Alleman. . Related articles.

Risk Response Strategy (Definitive Guide with Examples)

PM Basics

How to select a Risk Response Strategy? But let me simplify it for you in this article. Here you will find examples of risk responses for both threats and opportunities. But there’s a catch: You may have a limited mindset in regards to dealing with risks. Risk Rank.

Closed Loop Control and Granularity of the Estimating Process

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For any closed loop control system ‒ let’s assume we want to manage our project with such a system ‒ has a signal representing the current state of the system. DP6Jw is an overview of this process. To control this process using feedback and corrective actions ‒ in the same way, your closed loop controller for your air conditioner or heater does - a sampling rate is determined based on the rate of change of the underlying processes. Related articles.

Risk Management Resources

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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. Estimation of Long?Term

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Estimating is a Learned Skill

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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. And the same process is applied to the Scrum development processes on those projects. .

Reasons to Estimate and Measure

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Estimating Software-Intensive Systems: Project, Products, and Processes , Richard D. Stutzke is a starting point for estimating software projects. I recommend it for anyone starting out in the estimating business all the way to seasoned veterans. Related articles.

Why Johnny Can't Estimate? (Update)

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Risk Management is How Adults Manage Projects - Tim Lister. There is a discussion of the conjecture that estimates are a waste, estimates can't be done, estimates are evil, estimates must be stopped immediately. This would be like saying, risk management is a waste , control system engineering is a waste, thermal analysis of the computer system is a waste, assessment of the reliability, repairability, survivability - all the.

Do You Know These 6 Practical Risk Identification Techniques?

PM Basics

How to perform risk identification ? What risk identification techniques to use? Check the topic on PMBOK® Guide: It says nothing about the practical application of risk identification processes. In this article, I’ll tell you what techniques you can use today.

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Small Batch Sizes are NOT Risk Management

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There is a popular fallacy in the Agile community that small batch sizes are Risk Management. What small batches do is provide information that informs risk management at a fast rate. The sampling rate of a dynamic process under control. Related articles.

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Risk Management is How Adults Manage Projects

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These uncertainties create the risk to the success of all projects. Without managing in the presence of risk, the probability of project success is significantly reduced, most likely reduced to zero. Management in the presence of risk has the following steps: [1].

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A Compendium of Risk Management Resources

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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.

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Basis of Estimating Software Development

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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? Here are some resources that will provide guidance to produce credible software development estimates, in both traditional and agile domains. Software Sizing and Estimating: Mk II FPA , Charles Symons, John Wiley & Sons, 1991. Related articles.

How To Create A Simple Project Plan (Project Planning Process)

PM Basics

You need to apply knowledge and skills from all aspects of project management. Nevertheless, project planning is a structured and logical process. In this article, I’ll show you a proven workflow. For me, planning is one of the most exciting parts of the project management.

Estimating Accuracy Mathematics

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In the estimating business, like many things in project management, there is confusion about principles, practices, and processes. A good estimation approach should provide estimates that are within 25% of the actual results, 75% of the time. Related articles.

What is Risk Management?

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Risk management is about making informed decisions by consciously assessing what can go wrong, as well as the likelihood and severity of the impact when that possibility comes true. A straight forward process for Managing Risk looks like this. Related articles.

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Agile Estimating Methods and Impact on Project Development Performance Index

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The presentation " Quantifying the Impact of Agile Practices ," Larry MacCherone at the RallyOn 2013 Conference, presents some results on estimating impacts. The Higher the number the better the performance of the process. Related articles. How to Estimate Software Development.

When to Estimate and When Estimates aren't Needed

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Paul Boos has a post about estimating and makes a case for the Principles of when NOT to estimate. This struck a cord around a bigger topic - the inversion of estimating. When should we NOT estimate? What business decision making conditions could be in place where we don't have to estimate the outcomes of our decision in the presence of uncertainty? Then on to the original conjecture for No Estimates from Paul's post. Not principles for NOT estimating.

Why Johnny Still Cannot Estimate

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He doesn't know how - He doesn't understand how estimates fit into the process of business and managerial finance of product or service development. He doesn't understand why estimates are needed - He doesn't understand the impact on the business for not knowing how long, how much, and what will be produced for the time and money. Coding work is much more fun than making estimates, documenting the requirements, writing tests. Related articles.

The Magic 7 Project Portfolio Management Process Steps

Project-Management.pm

Countless business articles have provided you viable information regarding project portfolio management , accompanied by its objective, the roles of the portfolio manager, and the benefits of the project portfolio management as a whole. But how does one exactly execute project portfolio management? Implementing project portfolio management takes more than just assessment, evaluation, and tracking. You want to know more about Project Portfolio Management

4 Fallacious Reasons to Estimate and Why Those Are Fallacious

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There's a recent post titled Four Fallacious Reasons to Estimate. It lists the usual suspects for why those spending the money think they don't have to estimate how much they plan to spend when they'll be done producing the value they've been assigned to produce for that expenditure.

Why Estimates are Needed for Success in the Nondeterministic Universe

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There's a fallacy used by some in the software development business, that estimates are not needed to make decisions in the presence of uncertainty. These planning and controls activities always take place in the presence of uncertainty, which of course creates risk. Related articles.

What Is Risk?

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Risk is the effect of uncertainty of objectives. In the context of risk management, uncertainty exists whenever the knowledge or understanding of an event, consequence, or likelihood is inadequate or incomplete ? ISO 31000:2009, ISO 17666:2016 and ISO 11231:2010 Risk is Uncertainty that Matters. Risk can be the potential consequence of a specific outcome that affects the system's ability to meet cost, schedule, and/or technical objectives. Related articles.

Risk Management in Five Easy Pieces, with Apologies to Jack

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Managing Cost, Schedule, & Technical Performance Risk Is The Basis Of Good Project Management. Risk management is essential to the success of any significant project. These risks can be mitigated with a good risk management process.

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Information Technology Risk Management

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Risk Management is How Adults Manage Projects - Tim Lister (IBM). It can't be stated too often - either manage risk, or risk will manage you. Projects without risk management are late and over budget before they start. Reducible uncertainties can have specific actions to reduce to risks that result from the uncertainties. Here's a paper describing how to manage an IT project with Risk Management.

Epistemic Uncertainty Creates Reducible Risk

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Yesterday's Post What Is Risk? Risk is not there to be mitigated, it's there to be eliminated. Risk is the result of uncertainty, which comes in two kinds for all projects, for everything actually. Aleatory uncertainty, from the naturally occurring variances in the process and Epistemic uncertainty from the probabilistic event-based processes that impact the project. Epistemic uncertainty and the risk it creates can be reduced with handling processes.

How to Estimate Any Software Problem

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ways to make decisions with No Estimates. is not founded on any principle of business management, microeconomics of decision making, or principles of probability and statistics. can we make a decision in the presence of Uncertainty without making an estimate of the impact or outcome of that decision? What would be the evidence that we could make decisions in the presence of uncertanty without estimating the impacts and outcomes of those decisions? . An estimate is.

Five Immutable Principles of Project Success and Estimating

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Let's start with a fundamental principle of all project management. Risk Management is How Adults Manage Projects - Tim Lister. All risk comes from Uncertainty - reducible uncertainty and irreducible uncertainty. [1] 1] No uncertainty No Risk. .

Process is King Part 2

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I wrote a post about Process is King a few years ago. Came across a few posts about how people trump process. fail to put those people in a process that can guide their success. . People without process is an undirected effort and where I work, that's called waste.

Behavioural Economics, Estimating, and Decision Making in Presence of Uncertainty

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Both uncertainties create the risk to the success of any project endeavor. Reduction or Mitigation of the risks generated by these uncertainties is the role of risk management. Risk Management is How Adults Manage Projects - Tim Lister.

Aleatory Uncertainty Creates Irreducible Risk

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Yesterday's Post Epistemic Uncertainty Creates Reducible Risk and What Is Risk? Risk is not there to be mitigated, it's there to be eliminated. Risk is the result of uncertainty, which comes in two kinds for all projects, for everything actually. Aleatory uncertainty, from the naturally occurring variances in the process and Epistemic uncertainty from the probabilistic event-based processes that impact the project. Irreducible Schedule Risk.