Project Pulse Journal

NOVEMBER 24, 2023

By: Dr. Michael Shick, MSPM, PMP, CSM Are you a project manager struggling to predict the risks in your projects accurately during planning? This is where Monte Carlo Simulation transforms the art of project risk management into a more precise science, as part of quantitative risk analysis.

Risk Management 52

Risk Management Risk Engineering Estimate 52

Rebel’s Guide to PM

APRIL 5, 2024

This article reviews and explains the 10 project management Knowledge Areas from the PMBOK® Guide -- Sixth Edition. All the things you need to know and do for successful risk management, for example, are bundled under the Risk Management Knowledge Area. How many knowledge areas are there in project management?

PMI 205

PMI Risk Management Risk Technical Review 205

Scrum.org

APRIL 12, 2022

It’s something that a Scrum Team’s stakeholders, customers, managers and many others want to know. To get to an answer that provides meaningful information, your Scrum Team first needs to decide how to estimate. Today, we’re going to discuss three ways to estimate and in my next post, we’ll talk about forecasting. .

Estimate 223

Estimate SCRUM Closing Agile 223

Project Risk Coach

OCTOBER 23, 2021

Some project managers have a defensive mindset. 3 Is an Opportunity a Risk, Really? Project managers may use qualitative and quantitative risk analysis to evaluate opportunities. Consequently, these project managers and team members fail to take advantage of these upside risks. Table Of Contents.

Underperforming Technical Team 363

Underperforming Technical Team Risk Management Project Life Cycle Risk 363

MPUG

JUNE 6, 2022

But, how does all of this fit into Risk Management? Risk Managers don’t toss coins or calculate heads/tails in an experiment. Probability Distribution and Risk Management. With the above basics, let’s consider another example to understand probability distribution from the perspective of risk management.

Risk Management 64

Risk Management Risk Estimate 2019 64

Workamajig

JUNE 7, 2018

Every project has some risk of failure. This guide on project risk management will help you understand and manage risks better. If there is one thing you can be certain about in project management, it's this: Every project carries some risk. Putting out these fires is your job as the project manager.

Risk Management 90

Risk Management Risk 2008 Budget 90

ProjectManager.com

DECEMBER 28, 2023

Workload analysis is how project managers figure out how many team members they will need to properly execute a project. Workload tracking helps project managers reallocate team members as needed to serve the project and not overburden any one member of the project team. What Is Workload Analysis?

Manufacturing 316

Manufacturing Monitoring Estimate Executing 316

ProjectManager.com

AUGUST 22, 2023

There are many ways to avoid project failure, one of which is using project management software. ProjectManager is award-winning project management software that empowers teams to plan, manage and track projects in real time. ProjectManager has Gantt charts to plan, manage and track projects in real time. Learn more.

Estimate 280

Estimate Software Review Budget Controlling 280

Project Risk Coach

APRIL 18, 2021

One of the reasons that project managers fail to properly estimate their projects is they miss key activities when developing their schedules. Whether we are creating a Pixar movie , a building, a highway, or a service center, wise project managers break down their projects into pieces. Why does this happen?

Estimate 397

Estimate Risk Management Initiating Defining 397

ProjectManager.com

NOVEMBER 22, 2022

An event budget is the estimated costs associated with putting on an event. Prices for things change and there’s an inherent risk in putting together an event that can impact your budget. Creating and managing a budget is one of the most important parts of delivering a successful event. Estimate Fixed & Variable Costs.

Budget 332

Budget Transportation Estimate Risk Management 332

Kiron Bondale

JULY 3, 2016

You are assigned to manage a project and before you or your team have had an opportunity to start to chip away at the looming mountain of uncertainty, you get put on the spot to provide a cost or schedule estimate by your project sponsor or some other stakeholder. It’s unfortunately an all too familiar scenario. No be there.

Estimate 136

Estimate Initiating 2010 Construction 136

Project Risk Coach

JUNE 24, 2019

I'd like to give a few brief reasons why project managers struggle with small projects. In general, smaller projects have less risk. This exercise allows the team to understand the context of the project. Project managers are assigned projects at the last minute with a tight deadline. Sonya Levien. Click to Tweet.

Underperforming Technical Team 207

Underperforming Technical Team Risk Management Risk Executing 207

Scrum.org

SEPTEMBER 16, 2020

Still plenty of teams use hourly estimates for complex work. Relative estimation: takes less time, focuses on team collaboration i.o. Relative estimation: takes less time, focuses on team collaboration i.o. Relative estimation: takes less time, focuses on team collaboration i.o. Think risk, effort, complexity.

Estimate 154

Estimate Software Review Budget Agile 154

Agilemania

SEPTEMBER 22, 2021

If our estimates are wrong most of the time, why should we even attempt estimating in the first place? If this is the case, why bother estimating at all? If this is the case, why bother estimating at all? . Estimating can work but only if you understand why you are doing it. Let us understand why we estimate. .

Estimate 98

Estimate Agile Consulting SCRUM 98

Rebel’s Guide to PM

OCTOBER 7, 2023

I’ve been managing projects for over 20 years and I found the Google Project Management Certificate capstone course quite tricky. For more general tips on how to earn the Google project management certificate quickly, read the story of how I passed the certificate in a week. Recommended Google Project Management Certificate 5.0

Certification 309

Certification Software Review Estimate Risk Management 309

Rebel’s Guide to PM

JUNE 25, 2020

Are you biased as a project manager? In this article we’ll talk about the different types of bias in project management. A project manager is the linchpin of a successful project. Let’s look at what heuristics and biases exist in management and what we can do to reduce their impact on our projects.

Technical Review 488

Technical Review 2007 Finance Estimate 488

Rebel’s Guide to PM

APRIL 1, 2019

This article reviews and explains the 10 project management Knowledge Areas from the PMBOK® Guide – Sixth Edition. All the things you need to know and do for successful risk management, for example, are bundled under the Risk Management Knowledge Area. So how many knowledge areas are there in project management?

PMI 384

PMI Risk Management Risk Estimate 384

Scrum.org

APRIL 3, 2023

As you will learn, and despite being prone to lapse into project management speak, ChatGPT is remarkably capable of doing so, provided we feed it suitable prompts. I want you to create a schedule, name the exercises, and point to sources where I can learn more about the suggested activities.

ChatGPT 143

ChatGPT Underperforming Technical Team SCRUM Artificial Inteligence 143

ProjectManager.com

JULY 5, 2022

A business case is a project management document that explains how the benefits of a project overweigh its costs and why it should be executed. Discern the risks and issues associated with each solution. Now, it’s not just an exercise to appease senior leadership. What Is a Business Case? Then figure out its feasibility.

Underperforming Technical Team 370

Underperforming Technical Team Project Life Cycle Risk Management Governance 370

Scrum.org

MAY 8, 2023

Rant: Scrum Masters are no Project Managers ! ? ? ?? Product Backlog refinement : The Product Owner and Developers collaborate to refine, estimate, and order the Product Backlog items based on value, risk, and dependencies. You can sign up here for the ‘Food for Agile Thought’ newsletter and join 46,000-plus subscribers.

SCRUM 168

SCRUM Agile Technical Review Software Review 168

Scrum.org

MAY 15, 2023

Explain the benefits and drawbacks of different estimation techniques. Identify risks & dependencies for following feature: [Your feature]. Create a workshop on product management in Scrum for new stakeholders. Summarize the outcome of the Retrospective with the following data: [Your data.] Design a Sprint board.

ChatGPT 188

ChatGPT Technical Review SCRUM Artificial Inteligence 188

Scrum.org

SEPTEMBER 16, 2020

Plenty of teams still use hourly estimates for complex work. Relative estimation: takes less time, focuses on team collaboration i.o. Relative estimation: takes less time, focuses on team collaboration i.o. Relative estimation: takes less time, focuses on team collaboration i.o. Think risk, effort, complexity.

Estimate 91

Estimate Software Review Budget Agile 91

Scrum.org

APRIL 17, 2023

So in March 2023, I embarked on a non-representative research exercise to learn how organizations misuse Jira from a team perspective as I wanted to understand Jira anti-patterns. Risk aversion : Organizations may be risk-averse and believe tighter controls will help minimize risks and prevent project failures.

ChatGPT 181

ChatGPT Technical Review 2023 SCRUM 181

Strategy Execution | PMO Perspectives

FEBRUARY 21, 2019

Although 93% of organisations report that they use standardised project management practices , only 23% say that these practices are used throughout the organisation. When standardised project management practices aren’t used, it should come as no surprise that projects are failing.

Underperforming Technical Team 46

Underperforming Technical Team Risk Management Risk Estimate 46

Rebel’s Guide to PM

MAY 10, 2022

In turn, you may put more and more pressure on your team to speed up – risking cutting corners and delivering a low quality product that is not fit for purpose. Dependency management is important here. Given all their experience, they should be able to come up with some realistic estimates for time frames for all the tasks on the plan.

Estimate 251

Estimate Finance Defining Planning 251

Rebel’s Guide to PM

JULY 31, 2020

In turn, you may put more and more pressure on your team to speed up – risking cutting corners and delivering a low quality product that is not fit for purpose. Dependency management is important here. Given all their experience, they should be able to come up with some realistic estimates for time frames for all the tasks on the plan.

Estimate 336

Estimate Finance Defining Planning 336

ProjectManager.com

DECEMBER 19, 2019

Stakeholders: Whether they’re clients, vendors, upper management, departmental leaders or other contributors to the project, meet with them. Don’t forget to include a risk management plan. Budget: This is an estimate of everything in your plan and what it will cost to complete the project over the scheduled time allotted.

Underperforming Technical Team 464

Underperforming Technical Team Project Life Cycle Leadership Initiating 464

Kiron Bondale

JUNE 16, 2018

Traditional project funding models are anchored to periodic (annual, semi-annual or quarterly) portfolio re-planning exercises which ingest updated forecasts for active investments and funding requests for new ones. It can result in higher risk, premature financial commitments. It can also encourage sloppy product management.

Agile 179

Agile Finance Lean Estimate 179

LiquidPlanner

DECEMBER 12, 2022

Project closure is one of my favorite times in the lifecycle as a project manager. I know I’m not alone: 62% of project managers say it’s hard to deliver quality work due to the time pressures of working on multiple projects. Complete a project management review and lessons learned exercise (more on that below).

Software Review 148

Software Review Closing PMO Risk Management 148

Project Risk Coach

OCTOBER 10, 2016

How Bring All the Pieces Together If you were asked to describe project managers with one word, what would it be? ” Like a child putting Lego pieces together to build a house, project managers put the project pieces together to create unique products and services, transforming their organizations. Photo – Adobe Stock.

Underperforming Technical Team 150

Underperforming Technical Team Technical Review Monitoring Closing 150

Planio

FEBRUARY 12, 2024

Understanding trends and risks. A forward-looking competitive analysis helps you stay ahead of any future trends and identify on-the-horizon risks to your organization. Your product’s benefits should fix the problem statements of your target market, otherwise, you’re at risk of a poor product-market fit.

Underperforming Technical Team 88

Underperforming Technical Team Technical Review Estimate Influencer 88

ProjectManager.com

MARCH 28, 2023

To ensure that only quality moves forward, create task approvals and only authorized managers will be able to approve the job. Therefore, you’ll have to manage three aspects; the resources, tools and machines you’re using in production. Train Your Employees Plan training and exercises for your personnel.

Manufacturing 260

Manufacturing Process Planning Engineering 260

Scrum.org

NOVEMBER 2, 2020

This question is preparing the Scrum Master for the discussion with the development organization or IT management. More food for thought for the new Scrum Master to prepare the discussion with the management. Product Backlog Creation and Estimation. That should be a continuous exercise. Read more: Peer Recruiting.).

SCRUM 239

SCRUM Estimate 2020 Agile 239

Planio

OCTOBER 24, 2022

Planning is one of the first skills every project manager learns. Unfortunately, many project managers mistake a project plan as simply a list of tasks to complete. Consider the project risks and how you’ll mitigate them. The activity of planning is a collaborative team exercise led by the project manager.

Planning 78

Planning Risk Management Software Review Defining 78

Scrum.org

MAY 2, 2022

The primary way to achieve this goal as a PO is to manage the Product Backlog effectively. In my experience, most Product Owner anti-patterns result from a misunderstanding of this Product Backlog management task. Remember: Refining Product Backlog items is a team exercise. Sprint Planning Anti-Patterns.

Technical Review 245

Technical Review Underperforming Technical Team Software Review SCRUM 245

Rebel’s Guide to PM

APRIL 5, 2023

Are you looking for tips on how to pass the Google Project Management Certificate ? My experience with the Google Project Management Professional Certificate I completed the course requirements in a week. Recommended Google Project Management Certificate 5.0 I completed the 6 courses in a week (what a week that was!).

Certification 435

Certification Executing Risk Management Agile 435

LiquidPlanner

MAY 9, 2022

Have you heard the project management saying that failing to plan is planning to fail ? They assumed that their observations would hold true during future training exercises or combat. . Planning for Failure can Produce Success. Thinking about that a little more deeply, do you think we might be better off if we plan for failure ?

2009 147

2009 2011 Construction Engineering 147