Category Archives: Critical Path

Black Swans

Black swan events are so fascinating that they are a common source of discussion in many risk management forums. The variety of perspectives coming from all directions never ceases to amaze.

To a risk manager, ‘black swan’ phenomena are highly unlikely events that have massive impacts on a business or society on the rare occasions they occur. It means that the event is unexpected, but is of huge consequence (Ferguson, 2014). There is no scientific way at present to predict black swan events reasonably and acceptably.
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Posted in Analysis, Baseline Management, Black Swans, Business, Canadian Politics, Causes and effects, Construction Management, Critical Path, Critical Path Management, Data Assessment, Data Maturity, Decision Making, Deterministic Schedule, E-Touch Up, Economics, Information Maturity, Integrated Schedule, Integration, Issues and Problems, Managing Assumptions, Managing Constraints, Monitoring, Oil Future, Opportunities, Opportunity, Planning and Scheduling, Program Management, Program Schedule, Progress Measurement, Project Management, Reporting, Risk Assessment and Treatment, Risk Relativity, Risk Universe, Risk-based Management, rufran frago, Rufran's Blogs, Threats, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Risk Relativity

A person’s perspective depends on which side of the fence they are sitting on. With that in mind, a risk can be a threat or an opportunity. Your business sees a threat and your competitor sees an opportunity. It is as simple as that.

Each individual player within the risk universe will see things a bit differently compared to the next person, with some people interpreting things in exactly the opposite fashion. In each case, the person can see only one attribute.

The simplistic objective point of view is that risk is either a threat or an opportunity, depending on the observer’s orientation to the goal. Continue reading

Posted in Analysis, Business, Causes and effects, Construction Management, Critical Path, Critical Path Management, Data Assessment, Data Maturity, Decision Making, Deterministic Schedule, E-Touch Up, Economics, Execution Strategy, Information Maturity, Integrated Schedule, Integration, Issues and Problems, Managing Assumptions, Managing Constraints, Monitoring, Opportunity, Planning and Scheduling, Program Management, Program Schedule, Project Management, Quality Management, Reporting, risk, Risk Assessment and Treatment, Risk Relativity, Risk Universe, Risk-based Management, rufran frago, Rufran's Blogs, Threats, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

Risk-based Planning and Scheduling Slides (SAIT Presentation)

101116 Risk-based Planning & Scheduling (My SAIT Slides) from RUFRAN FRAGO, P. Eng., PMP®, CCP, RMP®, Author

Posted in Analysis, Baseline Management, Business, Causes and effects, Construction Management, Critical Path, Critical Path Management, Data Assessment, Data Maturity, Decision Making, Deterministic Schedule, E-Touch Up, E-Touch Up Products, Information Maturity, Integrated Schedule, Integration, Issues and Problems, Managing Constraints, Opportunities, Planning and Scheduling, Primavera Administration, Program Management, Program Schedule, Progress Measurement, Project Management, Risk Assessment and Treatment, Risk-based Management, rufran frago, Rufran's Blogs, Schedule Baseline, Threats | Tagged , , , , , , | Leave a comment

Egad! It is the Most Likely Schedule!

One has to remember that a schedule is a time estimate. It is not the exact actual time value at the time. Experienced professionals try to provide a plausible estimate. Nobody really knows what would be the definitive value.

ML date (or most likely duration) is not the same as expected date (or expected duration). It is but a component of the expected value. With the three point estimates (Triangular or Beta) available, one can calculate the expected duration of an activity, a group of activity, and the whole project’s duration.

It is one of the questions asked more often in risk-based planning and scheduling. Project directors, managers, planners, and schedulers have to know what this term means.

Each time a scheduler tries to explain the concept, he easily gets lost in his own circumlocution. It might be his indirectness compounded by the fact that this particular term shares common but blurred boundaries with some other project and risk management terms.

In view of such difficulties, let us put their words and thoughts on paper so that project practitioners can better understand. Continue reading

Posted in Analysis, Baseline Management, Business, Construction Management, Critical Path, Data Assessment, Decision Making, Deterministic Schedule, Economics, Integrated Schedule, Most Likely Schedule, Planning and Scheduling, Program Management, Program Schedule, Project Management, Risk Assessment and Treatment, Risk Universe, Risk-based Management, rufran frago, Rufran's Blogs | Tagged , , , , , , , , , , , , , , , , , , , | Leave a comment

Effects of Constraints to Critical Path

Identifying and validating project constraints affecting the schedule is an important part of monitoring and control. Constraints for the most part are project assumptions.

Treat them with caution and respect.

“Once started, the project is actually operating under three big traditional major constraints* of cost, time, and scope (*note that PMBOK had recently came up with six constraints).

Constraints imposed on activities are multiple limitations that will most likely further make it challenging and difficult to manage time.”

The critical path ultimately dictates the duration of the project. For this reason, a planning and scheduling person has to understand how constraints affect the schedule.
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Posted in Analysis, Business, Construction Management, Critical Path, Critical Path Management, Data Assessment, Data Maturity, Information Maturity, Integrated Schedule, Issues and Problems, Longest Path, Managing Assumptions, Managing Constraints, Monitoring, Planning and Scheduling, Primavera Administration, Program Management, Program Schedule, Project Management, Quality Management, Risk Assessment and Treatment, Risk-based Management, rufran frago, Rufran's Blogs, Uncategorized | Tagged , , , , , , , , , , , , , , , | 1 Comment

Setting the Critical Path

In the big situation, a man’s blind belief usually ends in disaster. Continue reading

Posted in Analysis, Business, Causes and effects, Construction Management, Critical Path, Critical Path Management, Data Assessment, Execution Strategy, Integrated Schedule, Integration, Longest Path, Opportunities, P6 Issues, Planning and Scheduling, Program Management, Program Schedule, Project Management, Quality Management, Reporting, Risk-based Management, rufran frago, Rufran's Blogs, Tools, Uncategorized, Variance Analysis | Tagged , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Schedule Critical Path

Pencil pushers and computer jockeys are people who do not know what is going on around them, but moved only by the task to transfer listed data into the system.

Does this mean that the term critical path is but a salesperson word? Continue reading

Posted in Analysis, Business, Causes and effects, Critical Path, Critical Path Management, Data Assessment, Execution Strategy, Integrated Schedule, Integration, Issues and Problems, Longest Path, P6 Issues, Planning and Scheduling, Primavera Administration, Program Schedule, Risk-based Management, rufran frago, Rufran's Blogs, Threats, Type of Analysis, Uncategorized | Tagged , , , , , , , , , , , , | Leave a comment