Calculate project work risk completion rate based on
Deadline
Work effort/work-effort weight
# of tasks completed
Given
Project Unit: Milestone-1 - Milestone-4, MVP-1 (includes All milestones)
Work effort for each milestone (e.g. Milestone-1 = 3 points or small work effort, Milestone-2 = 5 or medium, Milestone-3 = 8 or large)
Work-effort weight for each Milestone (in %)
% or # of Completed tasks per a Milestone
How do I include the time in the equation? Say we have a start date and projected due date or duration (e.g. x weeks or days or months), I need to calculate the risk of completing a task (milestone and the entire MVP) on time based on the current # of tasks completed.
In other words, what is the risk (small/medium/large) that a Milestone/Milestones/MVP will be completed on time (say, Mar-31, 2023) based on the number of tasks completed (15 of 40)?
Please let me know if I need to clarify
I really appreciate any help you can provide. Saving Changes...
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Vijay SuryavanshiProject Manager - Engineering| RECARO Aircraft SeatingPlantation, Fl, United States
Hi Anonymous (Igor),
Your work effort for reaching milestone 4 is not clear. Assuming it is 8 for milestone 4 as well, the project risk completion rate ends up being 50.7%.
Total work effort (with weight) = 1x3+2x5+3x8+4X8 = 3 + 10+ 24 + 32 = 69.
If 15 out 40 tasks are complete, that means only 37.5 percent of tasks or work-effort is completed.
Therefore work effort completed will be 37.5% of 69 =25.875 nearly 26.
Total work units is around 26. That means you have completed mile stone 1 and 2. And earned 3+10 points = 13 points.
Of the remaining milestone (work effort units) 13 are completed out of 24. (13/24 =54.1 percent work completed in between milestone 2 and 3, almost at midpoint of second and third milestone).
Finally, in terms of work units you completed - 26 work units Total work units you have is 69. Rate of completion of project work therefore is 26/69x100 = 37.68% of work is completed (in terms of work effort).
At this point see how many working days were used and how many remain ? Since you have completed about 38 percent of work and have 62 percent remaining, you will know if the number of days is sufficient or u fall short of time.(Ideally u must have 62 percent of time remain, if not the number of days u fall short of completing the remaining work can be seen as risk for completion)
Hope this answers your question. Saving Changes...
Latha Thamma reddiSr Product and Portfolio Management (Automation Innovation)| DXC TechnologyMckinney, Tx, United States
