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. References below. . And there are many other examples (see references). Figure 1 - Planned Estimates versus Actual Performance from [1]. A Few References and Resources . Each of these, while well meaning, are missing the means to confirm their credibility.

Compendium of Works to Increase Probability of Project Success

Herding Cats

Project Performance Management (#PPM). 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. Those units always start with Measures of Effectiveness and Measures of Performance. Project Performance Management.

2015 37
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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. Were there: Measures of Effectiveness. Measures of Performance. Key Performance Parameters. Did this Programmatic Architecture define all the player, what they were accountable for, the units of measure to assess the credibility, validity, quality, and compliance of their products with the PEP? Measures of Physical Percent Complete.

Decision Analysis - Ordinal and Cardinal Measures

Herding Cats

AHP is based on the principle that all measurements are relative. AHP provides a framework to make relative comparisons using a rational decision structure based on scaled pairwise comparisons (Borda Ranking) using a scale that converts stakeholder preferences and priorities into ratio measures. Using this method, the performance, cost, time, and risks of alternatives can be articulated as ratios that can then be compared with one another. References . [1]

2018 40

Integrated Master Plan - Revisited

Herding Cats

Transparent – Comprehensible display of what needs to be done and how completion is measured. It is essential that the IMP represent the work that must be performed. If the IMP is being prepared as part of a proposal, then the Request for Proposal (RFP) and RFP attachments will be the primary documents to define the work to be performed. To demonstrate traceability most IMPs include cross-reference fields for WBS, OBS, and SOW.

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. The audit, surveillance, performance reporting, measurement are at the core of all business processes.

Cone of Uncertainty - Revisited

Herding Cats

We're writing two chapters in an upcoming Project Management Book, with a working title, The Gower Handbook of Project Performance for Agile, Waterfall and Everything in Between , edited by Mark Phillips. NoEstimates Debunking Estimating Management Mathematics Performance-Based Project Management® Planning Scheduling Technical Performance Measures

2012 28

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

What is the Management Reserve for Project Budgets?

Project Risk Coach

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. Have you ever run out of money for a project? Unforeseen risks knock at your door.

2021 247

9 Types of Artifacts in Project Management

Girl's Guide to PM

You might also here artifacts referred to as templates, documents, outputs or deliverables, but in all cases they relate to the work of managing the project, not the thing you are creating as the output of the project.

2021 318

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. Performance measurement baseline. Work performance data.

2021 96

Different Project Management Terms Beginners Should Know

ProProfs Project Management

It refers to a set of methodologies utilized to meet the ever-changing client requirements. An assumption in project management refers to assuming about possible factors or situations that may occur in the project planning process that it may actually happen.

System of Systems and Capability Based Planning

Herding Cats

In the Systems Engineering and the System of Systems paradigm, there are three areas of considerations: A Capability refers to the ability to achieve user objectives in a mission or business context. When we hear we focus on Value always ask: How are you measuring that Value, it had better in: Measures of Effectiveness. Measures of Performance. Key Performance Parameters. Technical Performance Measures.

2019 43

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. Currently, there is no single frame of reference to view the discipline, because it is multi-disciplinary. Cost is measured in dollars and schedule is measured in time.

2018 38

What Should I Look For in a Statement of Work?

LiquidPlanner

Check that the change control process is documented, along with risks, assurance, and quality measures. You can ask them to include any performance measures or warranties that you feel are appropriate so that both parties understand how success will be judged.

2020 106

Earned Value Management (EVM) in Agile Development

MPUG

At the start of each iteration, he may be unsure about the applicability of earned value analysis, measurement, and management within Agile. With frequent scope changes, how does one determine what to measure against? Performance Measurement Baseline (PMB). References. [1]

2020 56

Next Generation Project Management Software

Girl's Guide to PM

It covered identifying requirements, interconnecting tasks, resources, planned values, actual values, baselines, performance measures, forecast techniques and timesheets. The existing environment includes the employees that must be involved in the process, but also refers to existing digital applications that must be integrated or terminated. Digitalization and Collaboration. The project and portfolio management (PPM) software market is changing.

2016 296

How to Write Company OKRs for Effective Goal-Setting?

nTask

They also act as future references to monitor how well you executed your projects. These key results are concrete, measurable actions which lead towards achievement of objectives. Now, this brings us to the question of how OKRs are different from KPIs (Key Performance Indicators)? Although both of these are used as performance measures, the purpose they serve is different. KPIs are key metrics used for evaluating how a team is performing against its goals.

2019 110

The Complete Glossary of 614 Project Management Terms

Workamajig

Bookmark this project management glossary and refer to it whenever you come across any project management jargon. Each 'activity' is the smallest unit of work that can be performed within the scope of the project. This is the schedule against which project progress is measured.

2021 78

Project Management Glossary: 200+ Terms PMs Frequently Use

Epicflow Blog

It contains all the details about the tasks a project team has to perform. . is a process of appointing or providing a team member with a responsibility to perform a task. is a state of resource allocation performed by a project manager. is initial data for your project performance measurement necessary for the start. is a process of assigning resources and analyzing the budget necessary for adequate risk management to create a cost performance baseline. .

Project Management Glossary: 200+ Terms PMs Frequently Use

Epicflow Blog

It contains all the details about the tasks a project team has to perform. . is a process of appointing or providing a team member with a responsibility to perform a task. is a state of resource allocation performed by a project manager. is initial data for your project performance measurement necessary for the start. is a process of assigning resources and analyzing the budget necessary for adequate risk management to create a cost performance baseline. .

Risk Management is How Adults Manage Projects

Herding Cats

All making things smaller dos is show that you're late, over budget, and what you're building (Technical Performance Measures) doesn't work faster. But when some statement is made about risk, estimating, performance modeling, or the like - always ask for references. No References? A Beginners Guide to Uncertainty of Measurement , Stephanie Bell, National Physics Laboratory, 1999.

2003 38

Invoking "Laws" Without a Domain or Context

Herding Cats

Newton's Law(s), there are three of them: First law: When viewed in an inertial reference frame, an object either remains at rest or continues to move at a constant velocity, unless acted upon by a net force. Second law: In an inertial reference frame, the vector sum of the forces F on an object is equal to the mass m of that object multiplied by the acceleration vector a of the object: F = ma. Without setting a target to measure against, we have: No baseline control.

2016 36

Managing in Presence of Uncertainty

Herding Cats

This is an immutable principle that impacts planning, execution, performance measures, decision making, risk, budgeting, and overall business and technical management of the project and the business funding the project no matter the domain, context, technology or any methods. Do we have measures of Effectiveness, Performance, all the .ilities. Is each of these measures being met for the planned cost at the planned time? . References.

Applying Project Management Concepts in Real-life Projects

iZenBridge

In such projects, since we are using progressive planning, we usually don’t compare progress against baseline.Other types of measurements could be used here such as: What was the plan? So, while the reports and measurement systems may compare against budget, it is not as simple as comparing the earned value against first baseline as baselines are getting revised. The domain also determines the rigor of quality measurements required.

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). The results include system-level qualities, properties, characteristics, functions, behavior, and performance. Systems Engineering assess the processes for achieving stakeholder functional, physical, and operational performance requirements in the intended use environment over the planned life of the system within cost, schedule, and internal and external constraints.

Microeconomics and Risk Management in Decision Making for Software Development

Herding Cats

Cost and schedule growth for software development programs is created by unrealistic technical performance expectations, unrealistic cost and schedule estimates, inadequate risk assessments, unanticipated technical issues, and poorly performed and ineffective risk management, all contributing to program technical and programmatic shortfalls. risks that may prevent the end item from performing as intended or not meeting performance expectations.

2007 32

Start with Principles, Not Personal Anecdotes

Herding Cats

This model can be produced parametrically (Reference Class Forecasting) or through a simulation (Monte Carlo or Method of Moments is common). . An estimate is a statistic about a whole population of possible values from a previous reference period or a model that can generate possible values given the conditions of the model. In the project domain, an estimate is a calculated approximation of some desired measurement.

2018 39

Why Johnny Can't Do The Math

Herding Cats

The past performance drives future performance within the parameters of the processes. This is the notion of Velocity, Earned Value Management, Statistical Forecasting from Story Points (if that's your cup of tea), reference class forecasting, trending, or any forecasting process where the system - while variant - has a trend that looks close to what has happened in the past. References . [1]