You can use a simple spreadsheet to make a reasonable best guess of the likely duration of a given task. This explanation of three-point estimates and simple triangle probability distribution—along with its accompanying Microsoft Excel spreadsheet—can be used to conduct a Monte Carlo simulation.
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Dependencies are a critical part of project planning, but they aren’t always as clear cut as they may at first appear. A better understanding of hard and soft dependencies can help.
This article shares the challenges a PM experienced while managing the construction of a 5-star hotel on the Caribbean island of Grenada during the pandemic—and how he navigated through change management to stay on track.
A lot of emergencies and unplanned tasks interrupt our daily work schedule. What can we do when this happens? Ask yourself these five Ws to help maintain sanity, be productive at work and maintain a better work/life balance.
How do you incorporate risk mitigation plans into the integrated master schedule (IMS)? It is useful to be able to see the status of the mitigation plan in the IMS and the impact on other tasks if the mitigation plan begins to slip. This discussion presents a risk scenario to show you how to implement a risk mitigation plan on your own projects.
Nearly 50% of projects worldwide during the previous eight years have experienced delays in their schedule. By examining several sources, with a focus on oil and gas projects but applicable to most projects, the paper consolidates the identified causes, categorizes them, and ranks them in the form of a top 12 list of the most common delay causes in projects.
The application of a baseline to projects is an essential tool in measuring project schedule performance during post-project review. Setting multiple baselines can be very useful in providing an historical record of how the schedule progressed.
Sharing only single-outcome estimates of the future fails to convey project risk, uncertainty and the project team’s nascent project knowledge. A far better approach is to use visual signals to help project sponsors sense the uncertainties that they and their project teams face.
The benefits of project management for traditional energy projects, such as building a power plant, are well known. But there are also benefits for energy sector reform, particularly government initiatives. Project management techniques can help by clarifying objectives, engaging stakeholders, improving the speed of legislation, and managing scope and schedule.
To brush up on your project technical skills, it's time to explore a few timeless skills: time and resource estimation; 2. risk management; and 3. scheduling. These skills will help you improve your performance, or challenge the adequacy of the plans developed by your team.