Remove Estimate Remove Examples Remove Finance Remove Performance Measurement
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Introduction to Earned Value Formulas

MPUG

You can get this number from your finance analyst, budget spreadsheet, or report. Now we’ve looked at some cost performance measures, let’s look at a few more specifically aimed at managing schedule performance. For example, if your SPI is 0.8, What it tells you: How much you have spent so far.

Budget 40
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Fallacy of the Week

Herding Cats

Have sufficient Technical Performance Measures margin to cover the required performance measure of the Capabilities. For example throughput , we need enough margin in the delivered product to meet or exceed the customer's need without spending too much time or money to provide that margin. Related articles.

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Start with Principles, Not Personal Anecdotes

Herding Cats

If, for example, a project manager believes a member of his or her team is a fast and effective worker, each time that team member works fast and effectively or is told by a colleague about the work that has been done fast and effectively, the project manager will consider his or her belief to be well-founded.

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Risk Management Frameworks in IT: A Comparative Analysis

Wrike

These frameworks involve the use of statistical techniques, probability theory, and mathematical formulas to estimate the likelihood and impact of risks, calculate expected values, and determine risk exposure. COBIT, for example, emphasizes IT governance and aligning IT with business objectives.

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Decision Analysis - Ordinal and Cardinal Measures

Herding Cats

Or it can be applied after the relative measures of value, for example, have been made. No Credible Decision Can Be Made in the Presence of Uncertainty with making Estimates of the Impact of those Decisions. 2] "Evaluating Risk: A revisit of the Scales, Measurement Theory, and Statistical Analysis Controversy," J.

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Fighting Uncertainty in Organizations, Including Matrix Ones

Epicflow Blog

” Eli Schragenheim The lesson is: when you ask for a clear one-number estimation, without defining the level of common and expected uncertainty, then you either might face big surprises or face frequent occurrences, where the project/mission finished exactly on time. Beyond just time, buffers can cover finances, manpower, and more.

2016 52
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The Complete Glossary of 614 Project Management Terms

Workamajig

Actual dates are different from planned or estimated dates. Actual Effort: The actual effort spent to complete the activity, as opposed to the planned or estimated effort. Actual Expenditure: The actual expenditure spent to complete the activity, as opposed to the planned or estimated expenditure.