Tag Archives: project management
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
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
Doing nothing is also a decision. It is a decision that sits on your head. “Status quo” is also a decision. No escaping around it! Continue reading
1. The baseline schedule shall represent the most likely schedule
The baseline schedule is the most-likely schedule. It does not have built-in float, buffer duration, or/and dummy activities. It is neither optimistic nor pessimistic (tight or lax).
It has full complement of qualified resources, with no embedded risk or any built-in schedule contingency.
2. An official project BL Schedule shall be a result of Interactive Planning
All baselines set from Gate 2 onward shall be the result of an interactive planning session.
3. Schedule scope shall equal plan scope
The plan scope shall be the same scope reflected in the baseline schedule that follows. Planned scope and the scheduled scope must be in alignment. A schedule cannot have more than the scope in the plan. Otherwise, the project faces a problem (Frago, Schedule Baseline Dilemma Part 1, 2015).
Read the whole article for complete list! Continue reading
When client and contractor start throwing accusations against each other surrounding schedule baseline, one can easily conclude that a problem or issue is brewing. It can turn into big risks (Frago, Schedule Baseline Dilemma Part 1, 2015). Resolving the contentions between opposing parties can take long and potentially, can end in disaster.
To prevent such occurrence, the project must start with the right foot forward. The project manager, all his planners, and schedulers, including his contract administrators must have a solid understanding on how the project intends to manage schedule baselines.
If baseline management is not part of the plan, the project is trekking on dangerous territory. Continue reading
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.
In the big situation, a man’s blind belief usually ends in disaster. Continue reading
Program management is the process of managing several related projects typically to enhance an organization’s outlook, better its industry reputation, to improve overall productivity and to avail of long-term opportunities.
Management of interdependent multiple projects call for an integrated approach. Interdependent in a sense that some activities of one project cannot start or finish without the predecessor project activities completed. For small to medium size program portfolio, effectively managing the overall and overarching schedule can still be quite challenging for Project Managers.
Program managers have to find a method of doing away the time-consuming collection of data by offering a common database of information and the same scheduling environment with “what you see is what you get” quality. Without such interface relationships crossing individual project schedules, a fast and accurate identification of critical work becomes manual, tedious, and lengthy if not impossible. Continue reading
I have always wanted to write about risk-based management principles in a poetic form. The uncanny characteristic of a poem to send the intended message with amazing clarity catches our senses so that we suddenly become more receptive. We listen more and even unconsciously let down our guard. Our biases disappear to consider the intended message.
People have to manage daily the risk of sin, e.g. of temptation, of jealousy, gluttony, revenge, and greed. One needs to control his vice, his expenses, his career, and many others.
It is in front of all of us and in the very fabric of our daily life. Risk management is the only thing we do for a living.
Today, I am happy to share with you an original 18-stanza rhyme poem of (8-6-8-6 metric) I have been working on in the past three days mostly while standing on the Calgary train, going to work.
This intriguing concept drives the reason why we go to work every day. We all have one main, central purpose yet we all go about it almost unconsciously. We are still employed by companies we worked in to manage risk. Continue reading
The overall execution plan loses substance when important pieces are missing. It can also lose its essence when many smaller project elements are absent, through their cumulative effect.
Data maturity is a project attribute project managers have to deal with in some intelligent way. They seek to formulate a way to address missing and incomplete information and to strike a balance somehow. It is very risky trying to integrate a project with missing or incomplete work scope. Filling in an information space with assumed fill-in data is a risky trade-off.
Quality is frequently a victim of time. Think about it. Try doing anything quicker than normal. What will happen to the quality of any endeavor compared to one given enough time? Right you are! We will see resources skipping steps, doing shortcuts, circumventing rules, violating regulations, lying, cheating, sugarcoating, and many others. The adverse consequences, to name a few includes reworks, higher safety incidents, project suspension, strikes, disputes, litigation, lay-offs, and bunches of other bad news. All these will potentially happen because quality has deteriorated. Continue reading