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How much quantitative analysis skills is enough for a PManager?

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Muhammad Anees Professor of Quantitative Techniques for Project Management| COMSATS Institute of Information Technology, Attock Attock, Punjab, Pakistan
As I have seen over the past few years and specially in Pakistan, many project managers lack technical skills to develop quantitative analytics for determining the risk and returns benchmark and stakeholders perceptions based success paramters. This raises an important questions as how much quantitative analytics related skills are enough for a successful PM?
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Sergio Luis Conte Helping to create solutions for everyone| Worldwide based Organizations Buenos Aires, Argentina
None. You can manage risk without performing quantitative analysis. First of all, you have to define your Project risk management process where you could have or not have quantitative analysis defined as one step. Second, the project manager will not perform quantitative analysis, the SME (subject matter experts) will perform it.
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2 replies by Muhammad Anees and Nouman Rahim
Aug 28, 2016 7:34 AM
Nouman Rahim
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I think project manager must have the skills of quantitative analysis. If Quantitative analysis is the responsibility of other exports than its means that project manager is free from statistical analysis of cost estimation, budgeting etc.
Aug 29, 2016 3:15 AM
Muhammad Anees
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Sergio: Agreed to the most. I only wish to to see if a project manager without reasonable skills in quantitative analysis can be better off as a manager with higher levels?
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Nouman Rahim Mining Engineer| Qadir and Co, Kohat Cement Factory Peshawar, Pakistan, Pakistan
Aug 19, 2016 5:28 PM
Replying to Sergio Luis Conte
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None. You can manage risk without performing quantitative analysis. First of all, you have to define your Project risk management process where you could have or not have quantitative analysis defined as one step. Second, the project manager will not perform quantitative analysis, the SME (subject matter experts) will perform it.
I think project manager must have the skills of quantitative analysis. If Quantitative analysis is the responsibility of other exports than its means that project manager is free from statistical analysis of cost estimation, budgeting etc.
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Dominic Law Product Manager| PCCW Global Happy Valley, Hong Kong
I am more aligned with Sergio's opinion. The knowledge in PMBOK is enough. Otherwise only basic high school skill is adequate here. Anything more than that the PM can ask expert advice.
The exception is that the role requires more skills than a generic PM, then it is a different question.
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1 reply by Muhammad Anees
Aug 29, 2016 3:13 AM
Muhammad Anees
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Dominic: Thank you for your views. I am also agreed that PMBOK is enough but quantification of risk and hence its impact on project success is what can be more done with great skills in Quantitatification. Does it not like so? Is only managerial skills for Project enough to have that skills for quantification?
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Muhammad Anees Professor of Quantitative Techniques for Project Management| COMSATS Institute of Information Technology, Attock Attock, Punjab, Pakistan
Aug 29, 2016 3:07 AM
Replying to Dominic Law
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I am more aligned with Sergio's opinion. The knowledge in PMBOK is enough. Otherwise only basic high school skill is adequate here. Anything more than that the PM can ask expert advice.
The exception is that the role requires more skills than a generic PM, then it is a different question.
Dominic: Thank you for your views. I am also agreed that PMBOK is enough but quantification of risk and hence its impact on project success is what can be more done with great skills in Quantitatification. Does it not like so? Is only managerial skills for Project enough to have that skills for quantification?
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Muhammad Anees Professor of Quantitative Techniques for Project Management| COMSATS Institute of Information Technology, Attock Attock, Punjab, Pakistan
Aug 19, 2016 5:28 PM
Replying to Sergio Luis Conte
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None. You can manage risk without performing quantitative analysis. First of all, you have to define your Project risk management process where you could have or not have quantitative analysis defined as one step. Second, the project manager will not perform quantitative analysis, the SME (subject matter experts) will perform it.
Sergio: Agreed to the most. I only wish to to see if a project manager without reasonable skills in quantitative analysis can be better off as a manager with higher levels?
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Sergio Luis Conte Helping to create solutions for everyone| Worldwide based Organizations Buenos Aires, Argentina
Well, "better" is an ambiguous word each person needs to clarify before accept it. I mean, "better", "worst" are subjective matters terms that have to translate into objective ones. My background gave those skills to me but if you ask me how many times I applied it when performing Project Risk Management in projects I will say no many times. I have applied it when I worked in environments or domains where they need to be applied like finance (sometimes depending on finance business) or science. The project manager is not in charge to perform activities related to project risk management like quantification or qualification, the subject matter expert/s are. So, what a project manager has to do, is to adquire knowledge to understand the stakeholders but not being an specialist.
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1 reply by Muhammad Anees
Aug 29, 2016 5:05 AM
Muhammad Anees
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Agreed. Better was put intentionally because many people can take it relatively. Your detailed and supportive statement can be inferred that quantitative analysis skills are only useful in some cases, not all. That helps to distinguish where these can be helpful. Is it not like that?
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Muhammad Anees Professor of Quantitative Techniques for Project Management| COMSATS Institute of Information Technology, Attock Attock, Punjab, Pakistan
Aug 29, 2016 4:58 AM
Replying to Sergio Luis Conte
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Well, "better" is an ambiguous word each person needs to clarify before accept it. I mean, "better", "worst" are subjective matters terms that have to translate into objective ones. My background gave those skills to me but if you ask me how many times I applied it when performing Project Risk Management in projects I will say no many times. I have applied it when I worked in environments or domains where they need to be applied like finance (sometimes depending on finance business) or science. The project manager is not in charge to perform activities related to project risk management like quantification or qualification, the subject matter expert/s are. So, what a project manager has to do, is to adquire knowledge to understand the stakeholders but not being an specialist.
Agreed. Better was put intentionally because many people can take it relatively. Your detailed and supportive statement can be inferred that quantitative analysis skills are only useful in some cases, not all. That helps to distinguish where these can be helpful. Is it not like that?
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Drake Morse Manager, Programme Leadership| Deloitte Consulting B.V. Nova Scotia, Canada
I feel analytics depends on what you want out of your analysis.
http://www2.deloitte.com/ca/en/pages/deloi...-analytics.html

https://www.linkedin.com/pulse/project-ris...isa?published=u
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1 reply by Muhammad Anees
Aug 29, 2016 1:57 PM
Muhammad Anees
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Drake, do you think we should expect at least a minimal amount of quantitative skill or an attitude for that within PMBOK so managers can quantify few issues to determine the basics for each project like Risk and Success probabilities in advance?
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Muhammad Anees Professor of Quantitative Techniques for Project Management| COMSATS Institute of Information Technology, Attock Attock, Punjab, Pakistan
Aug 29, 2016 1:14 PM
Replying to Drake Morse
Drake, do you think we should expect at least a minimal amount of quantitative skill or an attitude for that within PMBOK so managers can quantify few issues to determine the basics for each project like Risk and Success probabilities in advance?

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