Webinar Recap: Project Performance Measurement – Part 1: Overview Of Project Performance Measurements

MPUG

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?

Phrases Used for Technical Performance Measures

Herding Cats

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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Webinar Recap: Project Performance Measurement – Part 2: What to Measure and How to Report

MPUG

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 Management, Performance Measures, and Statistical Decision Making

Herding Cats

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. USAF Cost Risk Uncertainty Handbook.

What Is Corporate Governance & How Can it Impact My Project?

ProjectManager.com

While making money is the overriding mandate of any for-profit enterprise, each individual organization is governed by its own set of standards and practices. Those standards and practices are called corporate governance, and they are going to influence your project. While managing a project it is easy to become myopic and focus solely on success as measured by the project. All these factors are counted and calculated into corporate governance.

A Compendium of Works to Increase the Probability of Project Success

Herding Cats

Business, Technical, Systems, Risk, and Project Management. Managment Processes. Nine Best Practices of Project Management , Software Program Managers Network (SPMN). Top Habits of Successful Project Managers. Project Governance. Integrated Master Plan: The Foundation of Program Success , College of Performance Management, May 21, 2014. The Nine "I's" of Program Success ," College of Performance Management. Governance.

2008 45

Compendium of Works to Increase Probability of Project Success

Herding Cats

Business, Technical, Systems, Risk, and Project Management Briefings and Presentations. Management Processes (#MP). Project Performance Management (#PPM). Agile Project Management (#APM). Risk Management (#RM). Technical Performance Measures (#TPM). Cost, Schedule, and Technical Performance Management (#CSTPM). Governance (#Governance). Earned Value Management (#EVM). Management Processes.

2015 37

Increasing the Probability of Project Success

Herding Cats

and the connections between each Process are made to form a Closed Loop control systems needed to manage any project. These charts are an extract from the book Performance-Based Project Management: Increasing the Probability of Project Success and the abstracted training materials Handbook. Capabilities Earned Value Estimating Governance Management Performance-Based Project Management® Principles Requirements Risk Root Cause Analysis Technical Performance Measures

2017 69

How to Talk About Estimates

Herding Cats

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. .

Deconstructing the Hertz and Accenture Debacle

Herding Cats

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? With this information, the management of the project installs corrective or preventive actions to remove or reduce as much as possible those conditions and activities. Reducible risks.

Connecting "What" with "How" - and the Failure to Understand the Principles of Systems Engineering and Systems Management

Herding Cats

Systems engineering is an interdisciplinary field of engineering and engineering management that focuses on how to design and manage complex systems over their life cycles. Systems engineering has its roots in the fundamentals, principles, and models of foundational systems sciences, and associated management and engineering sciences. Progress and Value are measured with the same in Earned Value Management. The Measures of effectiveness.

Biases in Project Management and How to Remove Them

Herding Cats

There is always lots of complaining about the biases introduced into managing projects and making the estimates needed to make project decisions. 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. The first step is to recognize there are immutable principles of managing in the presence of uncertainty. 2] "The effect of fast and slow decisions on risk taking," M.

From Mission Capabilities to Done

Herding Cats

No matter the project domain or the technical development method, project success is dependent on knowing what Done looks like in units of measure meaningful to the decision maker. These measures are: Measures of Effectiveness (MOE) – are the operational measures of success that are closely related to the achievements of the mission or operational objectives evaluated in the operational environment, under a specific set of conditions.

2017 35

Increasing the Probability of Program Success

Herding Cats

We're working on a White Paper for the Joint Space Cost Council which is an organization composed of government (NRO, NASA, USAF, and others) and industry representatives with an interest in space. Our topic is Increasing the Probability of Program Success Thorugh Continuous Risk Management. . Risk Management is How Adults Manage Projects. If you are not managing risk on your project, what are you managing? Risk-Adjusted Plans.

4 Fallacious Reasons to Estimate and Why Those Are Fallacious

Herding Cats

I need an estimate because… I need to measure productivity. Although I understand measuring productivity could work well for repeatable activities, it's hard to believe it works well for abstract and, ultimately, non-repeatable tasks like software development. Thus, the common approach to "measure productivity" is to compare the estimates against what, in fact, happened. This is standard Product Management. Done by every Product Manager for every Product Company.

Value First, Requires Margin and Contingency

Herding Cats

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.

2018 36

Biases in Project Management and How to Remove Them

Herding Cats

There is always lots of complaining about the biases introduced into managing projects and making the estimates needed to make project decisions. 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. The first step is to recognize there are immutable principles of managing in the presence of uncertainty. 2] "The effect of fast and slow decisions on risk taking," M.

Integrated Master Plan - Revisited

Herding Cats

Designing, building, testing, and deploying complex systems is fraught with risk. And as always risk comes from uncertainty. Much has been written about the sources of risk and how to Manage in the Presence of Uncertainty (This briefing describes how risk is managed for each element of the Integrated Master Plan). . What About the Plan to Manage in the Presence of Uncertainty . Traceable – Aligns with other program management artifacts.

INVEST, Scrum and Enterprise IT

Herding Cats

Risk interaction within systems and subsystems, between functional and physical elements, can also be modeled with DSM. DSM models interacting risks in a graphical representation produce numerical simulations of the risk and impacts on the probability of program success. Besides the process, software, and User Experience modeling of the interdependent components, Risk Management and most critically Risk Propagation can be modeled with DSM.

2018 31

Misinterpretations of the Cone of Uncertainty

Herding Cats

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.

2017 32

Five Immutable Principles of Project Success

Herding Cats

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. Risk Management is How Adults Manage Projects - Tim Lister. No Adult Management.

2017 35

Fallacy of the Day

Herding Cats

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.

2017 34

INVEST, Scrum and Enterprise IT

Herding Cats

Risk interaction within systems and subsystems, between functional and physical elements, can also be modeled with DSM. DSM models interacting risks in a graphical representation produce numerical simulations of the risk and impacts on the probability of program success. Besides the process, software, and User Experience modeling of the interdependent components, Risk Management and most critically Risk Propagation can be modeled with DSM.

Cone of Uncertainty Bibliography

Herding Cats

I work in a domain where the CoU is baked into the Integrated Program Performance Management (IPPM) processes flowed down from the buyer, in this case, the Federal Government. The CoU paradigm defines the needed reduction in uncertainty is some performance metric. It can be the needed performance of a measure - Effectiveness, Performance, Key Performance Parameter, or a Technical Performance Measures.

2017 32

Project Management Process: The Basics

Clarizen

While it is a safe bet that Mr. Deming was not specifically or exclusively referring to the overall project management process, his wise advice – or if you wish, his stark warning – certainly applies. Project Management Process Groups. Project Management Process Flow.

Microeconomics and Risk Management in Decision Making for Software Development

Herding Cats

If we look at the discipline of software engineering, we see that the microeconomics branch of economics deals more with the types of decisions we need to make as software engineers or managers. Research clearly shows the root causes of most software projects cost and schedule overruns and technical shortfalls comes from poor risk management. Now To Risk Management. Risk is the effect of uncertainty of objectives. All risk comes from Uncertainty.

2007 32

3 Questions That Must Be Asked at Every Project Management Meeting

Herding Cats

Here's the three questions, and the framework for the answers in the project management domain. In the ConOps are measures of Effectiveness for the components of the project that implement the Capabilities . The only answer to that is a measure of Physical Percent Complete (P%C). P%C starts with defining the Measures of Performance and Technical Performance Measures for each deliverable as a function of time.

2018 35

Project Status Reporting – 6 Key Considerations

Project Health Check

We’ve said it before and we’ll say it again, Project Managers (PMs) live and die by the Plan. The entire purpose of the Start-up Phase of a Project is to produce a comprehensive Plan for the Project; consisting of an integrated Performance Measurement Baseline (Time, Cost, Scope) and an associated Project Management Plan to monitor and control it. The truth is senior management aren’t really bothered, or at least they shouldn’t be.

2017 192

Does your organization truly support project management?

Kiron Bondale

The April 2016 issue of PM Network provided updated project management capability findings from PMI’s 2016 Pulse of the Profession ® report. An unfortunate statistic is that only 38% of organizations are placing a high priority on creating a culture which recognizes the importance of project management. Organizational project management support can be either a blocker in lower maturity companies or an accelerator to project performance in higher maturity ones.

2016 146

Cone of Uncertainty - Part Cinq

Herding Cats

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.

2017 33

Project Start-Up: The Plan for a Plan

Project Health Check

Du ring the Project Start-up and planning phase, projects will execute detailed planning processes to produce a Performance Measurement Baseline of Cost/Schedule/Scope and an associated Project Management Plan. The project schedule will then steer the project through the foggy waters of its lifecycle and eventually help it to find its way to delivery and closedown. But what about the planning phase itself when the schedule doesn't exist yet?

2017 177

The Complete Glossary of 614 Project Management Terms

Workamajig

Project management terminology can be complicated. It doesn’t matter whether you’re working towards your PMP certification or simply managing projects casually in your organization, knowing core project management terms always helps. All Project Management Terms.

2021 78

Cone of Uncertainty - Part Cinq (Updated)

Herding Cats

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.

2017 30

Physical Percent Complete: Knowing When You Are Done

Herding Cats

The goal of every program manager is to have a set of practices that connect all the programmatic planning, risk, and performance information in a single unified view needed to support the decisions that increase the probability of success of any project or program. There are cost people, scheduling people, risk people, EVM people, engineers, testers, and others on any program. Cost is measured in dollars and schedule is measured in time.

2018 38

Cone of Uncertainty - Part Deux

Herding Cats

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.

2017 30

Cone of Uncertainty - Part Trois

Herding Cats

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.

2017 28

What's Missing from the Agile Software Development Paradigm

Herding Cats

The customer is accountable for knowing what Done Looks Like (in Unity of measure meaningful to their domain). Systems engineering is a methodical, multi-disciplinary approach for design, realization, technical management, operations, and retirement of a system. The results include system-level qualities, properties, characteristics, functions, behavior, and performance. Systems Management is the Science of Systems Engineering.

Closed Loop Control and Granularity of the Estimating Process

Herding Cats

let’s assume we want to manage our project with such a system ? For software, this can be value produced (assuming we have a unit of measure for that value in the for of effectiveness, performance, key performance parameters, or technical performance measures ). For your Honeywell or Nest controller on the wall, that sample rate is measured in seconds. It can be the cost, schedule, and technical performance measures of the software project.

The Problems with Schedules

Herding Cats

Unrealistic performance expectations missing Measures of Effectiveness and Measures of Performance. 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. There is a common chart used to show poor performance of projects that compares Ideal project performance with the Actual project performance.

2016 42

Software Intensive System of Systems

Herding Cats

In this domain, we applied traditional program and project management methods for cost and schedule management at the top level. The system can be a business system, a collection of hardware and software for defense or space, a weapons systems, a business management systems. If a system of systems is disassembled into the component systems, these component systems are capable of independently performing useful operations independently of one another.

2001 30