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MPUG
MAY 6, 2021
Please find below a transcription of the audio portion of Fletcher Hearn’s session, Project Performance Measurement – Part 1: Overview Of Project Performance Measurements, being provided by MPUG for the convenience of our members. Fletcher Hearns: What can be measured?
Herding Cats
MAY 16, 2019
All project progress is measured independent of resources expended - Mr. Gary Bliss, Director Performance Assessment and Root Cause Analysis (PARCA), US Department of Defense. Budget control is mandatory for any credible management of other peoples money. Measuring progress must be in units meaningful to the decision maker. This bounding of the cost estimate may be attempted through sensitivity analyses or through a formal quantitative risk analysis.
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MPUG
MAY 14, 2021
Please find below a transcription of the audio portion of Fletcher Hearn’s session, Project Performance Measurement – Part 2: What to Measure and How to Report, being provided by MPUG for the convenience of our members. This one covering, What to Measure and How to Report.
Project Risk Coach
MARCH 2, 2021
Unforeseen risks knock at your door. You look at your budget, but you don't have the funds to respond to these risks. Why Reserves are Needed During the course of a project, you and your project team identify risks which are referred to as known/unknown risks.
MPUG
MAY 21, 2021
Please find below a transcription of the audio portion of Fletcher Hearn’s session, Project Performance Measurement – Part 3: Using MS Project to Track and Report on Performance, being provided by MPUG for the convenience of our members.
Herding Cats
OCTOBER 11, 2016
There is a current rash of suggestions on how to improve the performance of software projects. 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. Figure 1 - Planned Estimates versus Actual Performance from [1].
Project Risk Coach
FEBRUARY 4, 2019
Changes in project risks are inevitable. As a project progresses, the probability and impact of current risks change, new risks emerge, and residual risks may increase or decrease. What tools and techniques can project managers use for controlling risks and getting the results they are looking for? Tom started his project with a risk identification exercise with several stakeholders resulting in a list of 77 risks.
Herding Cats
AUGUST 5, 2017
Managing Cost, Schedule, & Technical Performance Risk Is The Basis Of Good Project Management. Risk management is essential to the success of any significant project. Certain information about key project cost, performance, and schedule attributes are often unknown until the project is underway. The emerging risks that can be identified early in the project that impact the project later are often termed “known unknowns.” Risk management structure.
Herding Cats
APRIL 16, 2019
Business, Technical, Systems, Risk, and Project Management Briefings and Presentations. Project Performance Management (#PPM). Risk Management (#RM). 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. Project Performance Management.
Herding Cats
APRIL 29, 2017
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). . The best starting point for determining the NEEDED precision and accuracy is to determine the Value at Risk. . 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. .
Herding Cats
APRIL 30, 2019
Of course, No Root Cause analysis has been performed by these advocates, but it makes good click bait for their followers. Root Cause Analysis is Risk Management, that asks the question what is the condition or activity that will create a risk to the success of our project? Without this approach, you only find out about the problems that will cause failure (for example Hertz and Accenture) after they have happened Risk Management is How Adults Manage Projects - Tim Lister.
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Herding Cats
MAY 1, 2017
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. Build a Risk Adjusted Project Plan in 6 Steps.
Herding Cats
OCTOBER 12, 2018
This is a serious mistake for any non-trivial project or product that operates in the presence of uncertainty, deadlines, not-t-exceed budgets, and mandatory sets of capabilities that are produced in exchange for money. Progress and Value are measured with the same in Earned Value Management. In Earned Value Management paradigm, progress is always measured as physical percent complete. The Measures of effectiveness. The Measures of Performance are.
Herding Cats
JANUARY 29, 2018
In both cases, these create a risk to the success of the project. These risks - aleatory and epistemic - must be handled in some way if they are to not have an undesirable impact on the outcome of the project. So how do you determine the cost and time when that Value should be available for use in the presence of the naturally occurring (aleatory) and event-based (epistemic) uncertainties that create the risk to that Value? IT Risk Management.
Herding Cats
JUNE 9, 2018
Optimism bias - a cognitive bias that causes a person to believe that they are at a lesser risk of experiencing a negative event compared to others. 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? The success of a software product, service, and solution depends on good business, financial, and risk management.
Herding Cats
AUGUST 27, 2017
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. IT Risk Management.
Herding Cats
JUNE 19, 2017
The Cone of Uncertainty as a Technical Performance Measure. Uncertainty creates Risk. Risk management requires active reduction of risk. 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. The Cone of Uncertainty as a Technical Performance Measure.
Herding Cats
DECEMBER 4, 2017
Project Controls are Management Actions, either preplanned to achieve the desired result, or taken as a corrective measure prompted by the monitoring process. Project controls are concerned with the metrics of the project – quantities, time, cost, and other resources and their measurable beneficial outcomes for the project. In the Project Controls paradigm, Value is a measurable attribute of the project controls process - a Closed Loop Control measure.
Herding Cats
JUNE 4, 2017
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.
Herding Cats
JUNE 9, 2018
Optimism bias - a cognitive bias that causes a person to believe that they are at a lesser risk of experiencing a negative event compared to others. 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? The success of a software product, service, and solution depends on good business, financial, and risk management.
Herding Cats
APRIL 4, 2019
In a recent exchange in social media, it was clear the notion of risk and the sources of risk, the consequences or risks and managing in the presence of risk was in very unclear, when it was conjectured , we can simply slice the work into small bits and REDUCE risk. . First, the only risk that can be reduced is the risk created by Epistemic Uncertainty. Making things small does not reduce the risk it may make the uncertainty smaller.
Rebel’s Guide to PM
MARCH 18, 2021
Assumption log Risk register Backlog (see, agile project artifacts are relevant too) Stakeholder register. Work breakdown structure Product breakdown structure Organizational breakdown structure Risk breakdown structure.
ProjectManager.com
APRIL 14, 2022
If you deliver on time and under budget, but the quality doesn’t meet your stakeholders’ expectations, the project is not a success. You also need to determine the quality standards you’ll measure your deliverables by, as well as the criteria you use to measure customer satisfaction.
ProjectManager.com
JUNE 23, 2021
The schedule performance index was created to eliminate the guesswork and give a specific, quantifiable answer to the question, as well as show where improvements need to be made for maximum efficiency. What Is the Schedule Performance Index? Schedule Performance Index Key Terms.
Kiron Bondale
SEPTEMBER 16, 2018
What are they measured on and what are they measuring? As Tony Robbins would say, “ Where focus goes, energy flows “ If we haven’t updated performance measures for functional managers and their staff, it will be much harder to encourage them to change. A lot has been written about the challenges caused by functional managers when their company undergoes an agile transformation.
Project Health Check
NOVEMBER 27, 2017
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.
ProjectManager.com
DECEMBER 24, 2019
Timetables, deliverables, resources and even risks—everything that is involved with a project is wrapped up inside the schedule. Keeping an open line of communication on many ends will not only lessen risk but will ensure a seamless project process.
Herding Cats
JANUARY 22, 2017
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. Aleatory and Epistemic uncertainties, which create the risk to the success of the project.
Herding Cats
SEPTEMBER 26, 2018
First, we must recognize that without a clear and concise description of done, the only measures of progress are the passage of time, consumption of resources, and production of technical features. These measures of progress fail to describe what business capabilities our project needs to produce or what mission we are trying to accomplish. How are you going to measure progress toward “done” in units. Execute the Performance Measurement Baseline.
Techno-PM
MARCH 28, 2022
The operational planning objective focuses on developing plans that include people, communication, measures necessary to achieve the desired outcomes of the organization's strategies. For example, you can see each project team's status, budgets, and progress in real-time.
Herding Cats
JANUARY 14, 2017
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. Aleatory and Epistemic uncertainties, which create risk to the success of the project.
Herding Cats
FEBRUARY 4, 2017
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. Aleatory and Epistemic uncertainties, which create the risk to the success of the project.
Herding Cats
JANUARY 17, 2017
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. Aleatory and Epistemic uncertainties, which create the risk to the success of the project.
ProjectManager.com
SEPTEMBER 4, 2019
Some will also have automated gathering and reporting on key performance indicators (KPIs). Some of those areas are integration management, project scope management, project cost management, project time management, project quality management, project communications management, project risk management, project procurement management and project stakeholder management. Budget: Associate cost with individual tasks for more accurate budget estimation and generation.
Techno-PM
AUGUST 23, 2021
What is performance reporting? Performance reporting is the process of collecting and analyzing data about a company's performance. Performance reports come in many different types and formats. They include status updates, risk analysis, and financial information.
Workamajig
JANUARY 11, 2021
Accept: A response to a project risk where the project manager accepts the risk and takes no action to evade it, i.e. 'accepting' the risk. This is usually in case of risks that are unlikely to occur or minor enough so as to not affect the project's outcome.
ProProfs Project Management
MARCH 18, 2020
Project Management is the art of coordinating resources and directing working groups to execute components of work so that each group delivers components that can be tied together into a wholesome deliverable (contracted scope of work) within schedule and budget. Plan Risk Management .
Techno-PM
AUGUST 23, 2021
What is performance reporting? Performance reporting is the process of collecting and analyzing data about a company's performance. Download Project Management Templates Performance reports come in many different types and formats. What Goes into Performance Reporting?
ProProfs Project Management
JANUARY 21, 2020
Budget. The amount of money allocated to a specific project is referred to as the project budget. KPI stands for Key Performance Indicators. Performance Measurement Baseline. Risk is any positive or negative event that can affect project execution.
Keyedin
APRIL 22, 2019
Siloed project information scattered across numerous systems and geographies blocks decision-makers from insights into cost and schedule problems and cripples performance-measurement processes. Transparency remains crucial to controlling crises and managing constrained budgets. Now, the intensity of work during IT projects, product development and certain kinds of services contracts require leaner budgets and focused skills in any given sprint.
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