Isn’t there a no-cost way to create accurate, probabilistic estimates using just Microsoft Excel--without buying any add-in programs, without installing new software and without having to return to college to take a statistics class? Yes, there is: It’s called Statistical PERT.
In this session we’ll define what it means for a schedule to be “risk-ready” and identify common schedule checks that can be used to improve schedule quality and risk-readiness.
Establishing and managing schedule and cost contingency are integral to project risk management. Yet many organizations still struggle to define and adopt best practices that provide the organization confidence in their contingency setting processes.
Save Time With Tools + Templates
Statistical PERT uses standard functions for the normal distribution that come built-in to Microsoft Excel. Using these two functions, SPERT can create endless estimates with probabilities ranging between 0 and 100%. SPERT allows estimators to subjectively indicate how likely the most likely outcome really is. With SPERT, an estimator’s subjective opinion changes the SPERT standard deviation, and that affects the SPERT-created probabilities associated with SPERT estimates. To be used in conjunction with the accompany article Introducing Statistical PERT.
Here's an excellent example of a project costing schedule for an IT project with an emphasis on personnel costs.
You’ve come up with a schedule for your software development project. Now how do you get your clients or even your own corporate higher-ups to accept it? If you compress your schedule too much, you won’t meet anyone’s expectations of functionality, cost and timeframe, and your project might fail—right along with your project management career!
Do you have a flexible, healthy, dependable project schedule? You don't? Come right this way.
Learn From Others
The schedule needs to stay up to date if the project is going to proceed on time and be successful. Keep these tips in mind when developing a strategy for capturing schedule updates to ensure the success of the project.
Projects get started for various different reasons--and with varying levels of understanding. The scope is one of the most important items to settle on as soon as possible at the beginning of the project.
Efficient management of employee resources puts projects on the road to success. On the same token, failing to manage resources properly can lead to project blunders, overtime, budget overflow and other damaging results.
Construction project planning requires creating detailed construction activities work schedules. Being organized with all your construction documents can minimize missing key information. Learn how to develop a clear and complete schedule, and how it can make a complex project seem a bit easier to handle.
One measure of project success hinges on the ability of the estimator to predict the right schedule and budget, since projects that go over budget or fall behind are deemed failures. This article looks at the factors behind the difficulty of getting good estimates and suggests a combination of psychology (soft skills) and science (robust estimation software) to increase project success rates.
The use of program and production scheduling integrates project information and obtains the commitment of the organization while providing a way to track and update status. Through an organization-wide iterative approach to scheduling and a commitment to schedule deadlines, unity in project effort can be achieved.
|A.||Add a +15% pad to the project estimate, then meet with functional managers to set up an on-demand workflow system.|
|B.||Ask each potential team member to vow to put aside what is on their desk if your project work needs to be done.|
|C.||Ask Human Resources to institute a 10% bonus for the workers if your project meets the original project estimate deadline.|
|D.||Demand a dedicated team from upper management, as this is the only efficient way to do a project.|
Having a schedule process is sometimes more important than having a schedule. A schedule without a process to keep it up will turn into just a wistful dream about how one person thinks the project should go. Here are some points to ponder.
When creating a project schedule, most project managers use templates or old project plans that can be repurposed for the new project. There are times, however, when it is necessary to build a schedule from scratch--a task that is far more difficult
One of the secrets of a practitioner's success is that I he has varied from the traditional burndown chart and sprint estimation suggestions that are taught when a person learns about Scrum. If you have had issues with making accurate burndown charts that reliably tell you when your sprint will finish, then perhaps his suggestions can help.
Ask a Question
|What is the difference between Schedule Management Plan, Schedule Model Management Plan and Schedule Data Management Plan?||Suhail Iqbal||Sep 16, '15 2:28 AM||0||1|
|Scheduling in Agile Management||arlene trimble||Sep 3, '15 11:20 AM||0||1|
|Schedule Integrity Software||Michael Thibodaux||Jul 24, '15 10:25 AM||0||1|
|2015 PMI Scheduling Conference||Arassen Chocalingum||Jul 9, '15 12:04 PM||0||12|
|Schedule Risk Assessment||Gerard Pfaff||May 29, '15 7:57 AM||0||3|
|Mark All Read|