Why inject complexity into your projects when elementary math will suffice? Cut through the quantification using these three simple formulas when engaging with stakeholders.
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Having worked as a project manager delivering technology solutions to life sciences clients for close to a decade, this author has noticed common themes that help ensure project success. Here are six project management takeaways from delivering projects to regulated companies.
In this article, schedule variance is modeled to show the comparison and relationship of actual project progress and the schedule baseline. The underlying linear model of the schedule performance index (SPI) is explained and visualized with the budget square chart. The limits of the linear SPI approach are shown, and then an improved non-linear visualization is explored.
The article is devoted to the underlying mathematical concepts of earned value: linear function, Cartesian coordinates and tangent. The EV visualization named “budget square” is derived from these concepts—and helps us master the earned value concept for both certification and practical needs.
Most projects don't end with their launch date—they have an active lifespan and eventual decommissioning. Do you know what the true end-to-end cost of your project is?
When agile practices are implemented for the first time in a waterfall environment, more predictive techniques like earned value management (EVM) will need to be integrated. Here, a practitioner looks at two sprint examples to explain how this approach works.
Are you looking beyond individual departments and focusing on the value created in the full series of activities they perform to create and deliver their product? Here’s the story of one PM who was willing to step beyond her role to move the focus of “better, cheaper, sooner” to the whole chain of work her firm delivered to its customer.
When it comes to scheduling, you cannot do advanced tasks before covering the basics. Most people want to do PERT analyses and critical path sensitivities, Monte Carlo simulations and applications of earned value techniques. Those tools can be helpful in providing guidance for better decision making, but a lot of ground must be covered first.
It can sometimes get lost that there are a great number of projects initiated every day that will never have a formal budget associated to them. It is important that PMs and management not lose sight that even internal projects can benefit from the rigor of cost management processes and EVM principles.