by Kimberly Whitby, Brantlee Underhill, Michelle Brown, Julie Ho, Heather McLarnon, Laura Schofield, Cameron McGaughy
Whether it’s in-person or virtual, PMI events give you the right skills to complete amazing projects. In this blog, whether it be our Virtual Experience Series, PMI Training (formerly Seminars World) and our inaugural PMI® Global Summit 2022, experienced event presenters past, present and future from the entire PMI event family share their knowledge on a wide range of issues important to project managers.
High-priority projects can take away from time with loved ones, diminishing the quantity and quality of our relationships. When burning the midnight oil becomes the rule versus the exception, it’s time to focus your energy on becoming a sustainable PM.
Updated for 2023! Statistical PERT is an estimation technique that project professionals use to align expectations and make better business decisions. Use Statistical PERT to create a probabilistic forecast for many project uncertainties, such as how much your project will cost, or when you might deploy the next agile release. Statistical PERT easily models a wide variety of uncertainties using built-in statistical functions inside Microsoft Excel, making estimation easy to do—even for people who don't like statistics.
UPDATED for 2023! To be used in conjunction with Evaluating Benefits: Getting Statistical (Part 2). This template evaluates uncertain revenue. Probabilities describe the area under the curve to the right of the planning estimate, answering the question, "What is the probability of earning at least $X or more revenue?"
UPDATED for 2023! This spreadsheet has worksheets showing the results of a Monte Carlo simulation on a sample project's work effort hours, and a companion estimate using Statistical PERT. This way, you can see how you can use just the built-in functions of Microsoft Excel to do probabilistic, risk-based estimation. Textbox comments have been added to the worksheets to aid in understanding. Use this in conjunction with the article Risk Management Starts Sooner Than You Think.
UPDATED for 2023! Statistical PERT® (SPERT®) is a freely licensed, probabilistic, estimation technique. Use Statistical PERT to estimate uncertainties that have bell-shaped risk properties, like: task duration, work effort, revenue, expenses, agile story points, project portfolios, event attendance and more. Use in conjunction with the article Getting Beta with Statistical PERT.
Organizations plan portfolios based on the available funds for discretionary investments. However, that can get complex quickly. As a result, organizations usually have less money available than they think. This worksheet helps identify the point at which the available funds run dry.
To help you think through each of the sustainable PM drivers and how they apply to you, use this template to assess yourself and develop your plan for becoming a sustainable PM. Use in conjunction with the article Becoming a Sustainable Project Manager.