Adaptive management as part of project decision and risk analysis; active and passive project management; agile project management and adaptive management; role of quantitative methods in adaptive project management.
What is the project management? what is the essential activity in a project management? Most of the books written about project management won't give us clear idea about those questions. But here you can get the most practical knowledge about software development project management. From this slide, you can see what are the project management and what is the key of project management to make the project successful.
This is the most simplest explanation document about software project management.
There are 7 project management principles that every organization should incorporate into their processes. These basic principles of project management take into account constraints such as time, quality, budget and the scope of the project. They are absolutely essential for the success of any project.
The document discusses key concepts in project management. It defines a project as having a defined objective, deadline, and requiring integration of knowledge from different organizations. Project management is important for getting work done correctly and on schedule. It also allows for prioritized work distribution, risk management, and standardized processes. The document outlines the project life cycle and emphasizes the importance of planning, organizing, and controlling projects.
Compilation of key concepts for Time Management and Project Scheduling & Project Mgmt
Learn more tips & techniques at www.pmpwisdom.blogspot.com
Register for a free webinar at
https://pmpwisdom.blogspot.com/p/webinar.html
Introduction and Definition for Project Management, Type of Projects, Phases of Project Management, Project Initiative, Planning, Execution, and closure
reference book: Harvey Maylor, Fourth Edition Project Management
The document discusses project management and outlines key aspects of planning and executing projects. It defines project management as planning, scheduling, directing and controlling resources to complete goals and objectives. It describes characteristics of projects, the project management lifecycle consisting of 5 phases, and lists essential qualities of a project manager including leadership, communication skills, and time management. It also provides details on various project planning activities such as defining goals, deliverables, schedules, supporting plans like human resources and risk management.
Paul Kidson presented planning fundamentals at the SWWE Seminar
Project definition - where do you start? A few areas to consider
Planning: approach to planning, planning strategies.
Business case - Provides justification for undertaking a project: benefits, Cost and risk of alternative section, Rationale for preferred solution
Typical business case content.
Scope management
Requirement management.
Project Familiarisation
Planning
Benefits of planning
Approaches to planning
Planning strategies
Breakdown structure
Product Breakdown structure
Work breakdown structure
Organisation breakdown structure
Responsibility assignment Matrix
RACI Matrix
Cost breakdown structure
Dependency Management
Cost Estimating
Cost Estimating types
Budgeting
Budgeting generating a cost
What is the project management? what is the essential activity in a project management? Most of the books written about project management won't give us clear idea about those questions. But here you can get the most practical knowledge about software development project management. From this slide, you can see what are the project management and what is the key of project management to make the project successful.
This is the most simplest explanation document about software project management.
There are 7 project management principles that every organization should incorporate into their processes. These basic principles of project management take into account constraints such as time, quality, budget and the scope of the project. They are absolutely essential for the success of any project.
The document discusses key concepts in project management. It defines a project as having a defined objective, deadline, and requiring integration of knowledge from different organizations. Project management is important for getting work done correctly and on schedule. It also allows for prioritized work distribution, risk management, and standardized processes. The document outlines the project life cycle and emphasizes the importance of planning, organizing, and controlling projects.
Compilation of key concepts for Time Management and Project Scheduling & Project Mgmt
Learn more tips & techniques at www.pmpwisdom.blogspot.com
Register for a free webinar at
https://pmpwisdom.blogspot.com/p/webinar.html
Introduction and Definition for Project Management, Type of Projects, Phases of Project Management, Project Initiative, Planning, Execution, and closure
reference book: Harvey Maylor, Fourth Edition Project Management
The document discusses project management and outlines key aspects of planning and executing projects. It defines project management as planning, scheduling, directing and controlling resources to complete goals and objectives. It describes characteristics of projects, the project management lifecycle consisting of 5 phases, and lists essential qualities of a project manager including leadership, communication skills, and time management. It also provides details on various project planning activities such as defining goals, deliverables, schedules, supporting plans like human resources and risk management.
Paul Kidson presented planning fundamentals at the SWWE Seminar
Project definition - where do you start? A few areas to consider
Planning: approach to planning, planning strategies.
Business case - Provides justification for undertaking a project: benefits, Cost and risk of alternative section, Rationale for preferred solution
Typical business case content.
Scope management
Requirement management.
Project Familiarisation
Planning
Benefits of planning
Approaches to planning
Planning strategies
Breakdown structure
Product Breakdown structure
Work breakdown structure
Organisation breakdown structure
Responsibility assignment Matrix
RACI Matrix
Cost breakdown structure
Dependency Management
Cost Estimating
Cost Estimating types
Budgeting
Budgeting generating a cost
The document provides guidance on project planning and management. It emphasizes establishing clear goals and focusing on customer needs. A comprehensive activity plan should be developed that defines tasks, resources, timelines, budgets, and addresses potential risks. Continuous communication with stakeholders is important throughout the project.
"Fundamentals of Project Management" book summaryHuyHuang
This document summarizes key sections from the book "Fundamentals of Project Management" by Joseph Heagney. It discusses that the book is intended for first-time learners of project management, explains concepts in a simple way using definitions and examples, and includes summaries and quizzes at the end of chapters. The document also summarizes several chapters on the role of the project manager, creating a risk plan, and project control and evaluation. It concludes by discussing lessons learned, such as the importance of planning for risks and evaluating projects as a team.
Project management involves planning, organizing, and controlling resources to achieve specific goals within constraints of time, cost, and scope. A project has defined objectives, timeline, funding, and consumes resources. Successful project management delivers objectives on time, within budget, and to the required performance level while using resources effectively. Project benefits include improved planning, identification of responsibilities and problems, and better estimates for future projects. Project managers must coordinate with line managers who control resources and balance stakeholder interests for project success.
1) Risk management is the process of identifying, analyzing, and responding to risks that could negatively impact a project. It aims to minimize threats and maximize opportunities.
2) A risk is any uncertain event that could prevent a project from meeting its objectives. Effective risk management requires commitment from the project team to identify potential risks and their consequences.
3) Benefits of risk management include predicting threats before they occur, enabling contingency planning, improved decision making, and creating a "no surprises" environment for stakeholders. While initially costly, risk management saves money compared to dealing with unanticipated issues later.
The project manager plans and controls the entire project, ensuring resources like time, money, and equipment are allocated properly. They manage staff and teams, plan project timelines, control budgets, act as the single point of contact, and document processes. The project manager is responsible for the overall success of projects by setting deadlines, communicating with teams, and managing costs to meet client agreements.
This document provides an overview of project management elements and concepts. It outlines an agenda for a project management training program that includes planning, implementation, and completion stages. Planning involves writing a project charter, defining the mission, goals, constraints, risks, and stakeholders. Implementation covers milestones, work breakdown structure, dependencies, meetings. Completion includes an after action review and celebration. Forms and exercises are provided to help participants apply the concepts to a project.
HD version: http://1drv.ms/1i8AvZc
This is my publication on the introduction to project management. In this publication I overview important project management terms, definitions, project life cycles, and key project management software and tools
In today's fast-paced business environment, successful project management has its place on the organizational hall-of-fame.
All major corporations have recognized that the future of their corporate success lies in their employees' abilities to effectively manage overlapping, complex projects.
The document defines key project management concepts including what constitutes a project, project characteristics, the differences between project and program management, the six basic project functions, common pitfalls, and the triple constraints of time, cost and scope. It also outlines the nine knowledge areas that comprise the project management framework: integration management, scope management, time management, cost management, quality management, human resource management, communications management, risk management, and procurement management.
Adaptive management as part of project decision and risk analysis; active and passive project management; agile project management and adaptive management; role of quantitative methods in adaptive project management.
For more information how to perform schedule risk analysis using RiskyProject software please visit Intaver Institute web site: http://www.intaver.com.
About Intaver Institute.
Intaver Institute Inc. develops project risk management and project risk analysis software. Intaver's flagship product is RiskyProject: project risk management software. RiskyProject integrates with Microsoft Project, Oracle Primavera, other project management software or can run standalone. RiskyProject comes in three configurations: RiskyProject Lite, RiskyProject Professional, and RiskyProject Enterprise.
The document introduces key concepts in project management. It defines a project as a temporary endeavor to create a unique product or service. It discusses characteristics of successful and failed projects. Project management aims to predict and prevent issues through applying skills and tools to meet stakeholder needs and expectations. It addresses managing scope, issues, costs, quality, communications, risks, and changes through a project life cycle of initiation, definition, planning, implementation, deployment, and closing phases. Project management tools like PERT charts and Gantt charts can illustrate tasks and schedules. The role of a project manager includes managing processes, people, issues, quality, and the overall work plan.
This document provides an outline for learning about project management. It defines key project management concepts like defining projects, project teams, and the role of the project manager. It explains that project management is needed to coordinate resources, tasks, decisions, spending, and matching resources to tasks. The document also summarizes small-scale projects, managing the project, project operations including processes from initiation to closing, and project control including metrics, budget/cost management, time management, and quality control. Professional project management is critical for project success.
Contents are sourced from different authors including PMBOK 5th Edition.
This is provided for free as part of our Continuing Practice in Project Management Professional Certification. You may download, share but please refrain from commercializing it or altering parts. Thanks.
For more on Innovations and Project Management, please visit www.facebook.com/SigmaProcessExcellence
This document defines key project management terms and concepts. It discusses the roles of a project manager and different types of project managers. The document also outlines the project life cycle phases including initiation, planning, execution, control, and close-out. It defines important project documents like the project charter and change control board. Finally, it discusses the knowledge areas of project management including integration management, scope management, scheduling, cost, quality, and risk management.
This document discusses various tools and techniques for project management. It describes how tools can help with defining project plans and tasks, monitoring progress, managing budgets and risks. It discusses creating a project plan that includes tasks, deliverables, schedules, evaluations, and risks. Specific tools mentioned include MS Project, ProjectPlace, mindmapping software, and Gantt charts for task scheduling and tracking progress. Communication methods like meetings, video conferencing, reports, and websites are also discussed.
Introduction to Project, Project Management
Three Basic attributes of a Project
Characteristics of a Project
Elements of Project Management
Problems of Project Management
Smart project management - Best Practices to Manage Project effectivelyChetan Khanzode
Best Practices to Manage project effectively.It gives overview of all five groups and ten PM knowledge areas.
Emphasis more important aspects of Project Management
The document outlines key features of a project management tool, including risk management, resource management, tracking dependencies and milestones, ease of use, third-party integrations, agile workflow systems, using boards to manage projects, time tracking, customizable workflows, native mobile apps, easy collaboration, and delegating tasks. Effective project management requires a tool that facilitates these important features.
Project management involves applying knowledge and skills to meet the requirements of a particular project. It follows seven principles including continuous justification and learning from experience. Project management knowledge encompasses integration, scope, time, cost, quality, procurement, risk management and more. The process of managing a project typically involves five phases from conception to initiation, definition and planning, launch and execution, performance and control, and close. Project managers are agents for change, flexibility, have strong people skills, and use a variety of techniques to adapt their approach based on each project's context and constraints. Project management is a in-demand role found across organizations.
The document discusses adaptive management and how it can be applied to projects. It defines adaptive management as a structured process for continually improving decisions through learning from previous outcomes. It lists the main principles as iterative decision making, strategic flexibility, continuous quantitative analysis using multiple models and hypothesis testing, and measuring actual performance. It provides examples of how quantitative analysis and risk management can be integrated into an adaptive project management approach.
There is a lot of talk about agility that would mean the end of the traditional methods of project management. However, many companies still use a traditional approach. What should be done and when should it be done? Should we rely on the agile or stay on the traditional methods that have proved their worth?
The solution may be between the two: hybridization between traditional project management and agile methods in order to use their respective strengths and limit the impact of their weaknesses.
This session aims to present the main principles of a hybrid approach: what are the differences between agile and traditional management? Why Hybridization? How to choose ? How to implement it?
The document provides guidance on project planning and management. It emphasizes establishing clear goals and focusing on customer needs. A comprehensive activity plan should be developed that defines tasks, resources, timelines, budgets, and addresses potential risks. Continuous communication with stakeholders is important throughout the project.
"Fundamentals of Project Management" book summaryHuyHuang
This document summarizes key sections from the book "Fundamentals of Project Management" by Joseph Heagney. It discusses that the book is intended for first-time learners of project management, explains concepts in a simple way using definitions and examples, and includes summaries and quizzes at the end of chapters. The document also summarizes several chapters on the role of the project manager, creating a risk plan, and project control and evaluation. It concludes by discussing lessons learned, such as the importance of planning for risks and evaluating projects as a team.
Project management involves planning, organizing, and controlling resources to achieve specific goals within constraints of time, cost, and scope. A project has defined objectives, timeline, funding, and consumes resources. Successful project management delivers objectives on time, within budget, and to the required performance level while using resources effectively. Project benefits include improved planning, identification of responsibilities and problems, and better estimates for future projects. Project managers must coordinate with line managers who control resources and balance stakeholder interests for project success.
1) Risk management is the process of identifying, analyzing, and responding to risks that could negatively impact a project. It aims to minimize threats and maximize opportunities.
2) A risk is any uncertain event that could prevent a project from meeting its objectives. Effective risk management requires commitment from the project team to identify potential risks and their consequences.
3) Benefits of risk management include predicting threats before they occur, enabling contingency planning, improved decision making, and creating a "no surprises" environment for stakeholders. While initially costly, risk management saves money compared to dealing with unanticipated issues later.
The project manager plans and controls the entire project, ensuring resources like time, money, and equipment are allocated properly. They manage staff and teams, plan project timelines, control budgets, act as the single point of contact, and document processes. The project manager is responsible for the overall success of projects by setting deadlines, communicating with teams, and managing costs to meet client agreements.
This document provides an overview of project management elements and concepts. It outlines an agenda for a project management training program that includes planning, implementation, and completion stages. Planning involves writing a project charter, defining the mission, goals, constraints, risks, and stakeholders. Implementation covers milestones, work breakdown structure, dependencies, meetings. Completion includes an after action review and celebration. Forms and exercises are provided to help participants apply the concepts to a project.
HD version: http://1drv.ms/1i8AvZc
This is my publication on the introduction to project management. In this publication I overview important project management terms, definitions, project life cycles, and key project management software and tools
In today's fast-paced business environment, successful project management has its place on the organizational hall-of-fame.
All major corporations have recognized that the future of their corporate success lies in their employees' abilities to effectively manage overlapping, complex projects.
The document defines key project management concepts including what constitutes a project, project characteristics, the differences between project and program management, the six basic project functions, common pitfalls, and the triple constraints of time, cost and scope. It also outlines the nine knowledge areas that comprise the project management framework: integration management, scope management, time management, cost management, quality management, human resource management, communications management, risk management, and procurement management.
Adaptive management as part of project decision and risk analysis; active and passive project management; agile project management and adaptive management; role of quantitative methods in adaptive project management.
For more information how to perform schedule risk analysis using RiskyProject software please visit Intaver Institute web site: http://www.intaver.com.
About Intaver Institute.
Intaver Institute Inc. develops project risk management and project risk analysis software. Intaver's flagship product is RiskyProject: project risk management software. RiskyProject integrates with Microsoft Project, Oracle Primavera, other project management software or can run standalone. RiskyProject comes in three configurations: RiskyProject Lite, RiskyProject Professional, and RiskyProject Enterprise.
The document introduces key concepts in project management. It defines a project as a temporary endeavor to create a unique product or service. It discusses characteristics of successful and failed projects. Project management aims to predict and prevent issues through applying skills and tools to meet stakeholder needs and expectations. It addresses managing scope, issues, costs, quality, communications, risks, and changes through a project life cycle of initiation, definition, planning, implementation, deployment, and closing phases. Project management tools like PERT charts and Gantt charts can illustrate tasks and schedules. The role of a project manager includes managing processes, people, issues, quality, and the overall work plan.
This document provides an outline for learning about project management. It defines key project management concepts like defining projects, project teams, and the role of the project manager. It explains that project management is needed to coordinate resources, tasks, decisions, spending, and matching resources to tasks. The document also summarizes small-scale projects, managing the project, project operations including processes from initiation to closing, and project control including metrics, budget/cost management, time management, and quality control. Professional project management is critical for project success.
Contents are sourced from different authors including PMBOK 5th Edition.
This is provided for free as part of our Continuing Practice in Project Management Professional Certification. You may download, share but please refrain from commercializing it or altering parts. Thanks.
For more on Innovations and Project Management, please visit www.facebook.com/SigmaProcessExcellence
This document defines key project management terms and concepts. It discusses the roles of a project manager and different types of project managers. The document also outlines the project life cycle phases including initiation, planning, execution, control, and close-out. It defines important project documents like the project charter and change control board. Finally, it discusses the knowledge areas of project management including integration management, scope management, scheduling, cost, quality, and risk management.
This document discusses various tools and techniques for project management. It describes how tools can help with defining project plans and tasks, monitoring progress, managing budgets and risks. It discusses creating a project plan that includes tasks, deliverables, schedules, evaluations, and risks. Specific tools mentioned include MS Project, ProjectPlace, mindmapping software, and Gantt charts for task scheduling and tracking progress. Communication methods like meetings, video conferencing, reports, and websites are also discussed.
Introduction to Project, Project Management
Three Basic attributes of a Project
Characteristics of a Project
Elements of Project Management
Problems of Project Management
Smart project management - Best Practices to Manage Project effectivelyChetan Khanzode
Best Practices to Manage project effectively.It gives overview of all five groups and ten PM knowledge areas.
Emphasis more important aspects of Project Management
The document outlines key features of a project management tool, including risk management, resource management, tracking dependencies and milestones, ease of use, third-party integrations, agile workflow systems, using boards to manage projects, time tracking, customizable workflows, native mobile apps, easy collaboration, and delegating tasks. Effective project management requires a tool that facilitates these important features.
Project management involves applying knowledge and skills to meet the requirements of a particular project. It follows seven principles including continuous justification and learning from experience. Project management knowledge encompasses integration, scope, time, cost, quality, procurement, risk management and more. The process of managing a project typically involves five phases from conception to initiation, definition and planning, launch and execution, performance and control, and close. Project managers are agents for change, flexibility, have strong people skills, and use a variety of techniques to adapt their approach based on each project's context and constraints. Project management is a in-demand role found across organizations.
The document discusses adaptive management and how it can be applied to projects. It defines adaptive management as a structured process for continually improving decisions through learning from previous outcomes. It lists the main principles as iterative decision making, strategic flexibility, continuous quantitative analysis using multiple models and hypothesis testing, and measuring actual performance. It provides examples of how quantitative analysis and risk management can be integrated into an adaptive project management approach.
There is a lot of talk about agility that would mean the end of the traditional methods of project management. However, many companies still use a traditional approach. What should be done and when should it be done? Should we rely on the agile or stay on the traditional methods that have proved their worth?
The solution may be between the two: hybridization between traditional project management and agile methods in order to use their respective strengths and limit the impact of their weaknesses.
This session aims to present the main principles of a hybrid approach: what are the differences between agile and traditional management? Why Hybridization? How to choose ? How to implement it?
My talk at PMI Westchester PDD (http://www.pmiwestchester.org/chapter_event_details.asp#299) and at PMI NYC Symposium (http://pminyc.org/sites/default/files/Symposium2013-brochure-FINAL.pdf)
This document discusses various models for project selection and considerations for risk in project selection. It outlines both numeric and non-numeric models that are used to evaluate and select projects, including payback period, internal rate of return, and comparative benefit models. It also discusses collecting project data, assessing resource availability, prioritizing projects, and selecting projects to fund or hold in reserve. Finally, it covers implementing the project selection process and outlining key components of effective project proposals.
The Agile PMO: From Process Police to Adaptive LeadershipLitheSpeed
The document discusses the role of an Agile PMO in transitioning from a traditional "process police" role to one of adaptive leadership. Key points:
1. An Agile PMO can help with project prioritization and selection by bringing lean discipline, guiding portfolio tracking using Agile reporting, and moving to stable teams models for resource management.
2. Portfolio coordination techniques like a portfolio alignment wall can help visualize dependencies and optimize work across teams.
3. Stable teams with dedicated resources focused on single projects can improve focus, accountability, delivery speed, and predictability compared to frequently switching resources.
4. A sustainable Agile adoption supports teams through a culture of process discipline, empowering
Butch Landingin, CTO of Orange & Bronze Software Labs, talks about the Agile Methodology for the Philippine Software Industry Association's Enablement Seminar on April 27 at the AIM.
About O&B:
Orange & Bronze is an offshore product and software development firm in the Philippines, is one of the first companies in Asia to use and advocate Agile Software Development, and has been using it since our inception in 2005, back when Agile was still an emerging movement. O&B offers training courses for Agile with Scrum and XP - these classes were developed and are taught by some of the Philippines' well-known and respected Agile / Scrum coaches and practitioners, and uses the format trusted by some of the best companies in the Philippines.
The document provides an introduction to agile project management. It discusses why agile project management is needed due to increased consumer expectations and work pressures. It then defines what agile project management is, covering the history and key principles of agile methodology. The rest of the document outlines an agenda for managing agile projects, discussing practices like using organic self-organizing teams, establishing a guiding vision, implementing simple rules, and providing open information.
This document discusses using machine learning and data to drive proactive assurance activities. It proposes developing a quantitative project health score based on metrics and signals from project data to remove subjectivity. Machine learning models would be trained on historical project performance data to predict when a project's health score is deteriorating so that assurance interventions can be performed earlier. This approach aims to move from infrequent, subjective assessments to more objective, data-driven proactive assurance.
The document provides an introduction to Agile project management. It discusses key concepts like Scrum, an Agile methodology. Scrum uses short "sprints" to incrementally deliver working software. Meetings like daily stand-ups and sprint planning and retrospectives help coordinate work. The roles of product owner, Scrum master, and self-organizing cross-functional teams are also outlined. The document emphasizes delivering value to customers through iterative development and continuous improvement.
A project is a temporary endeavor undertaken to create a unique product or service. Agile project management focuses on iterative development, self-organizing teams, early customer involvement and flexibility. Some key aspects of agile include continuous integration, iterations to develop features in short cycles, and pair programming where two developers work together.
This document outlines the "Step Wise" approach to planning software projects. It discusses 10 main steps: 1) establish project scope and objectives, 2) establish project infrastructure, 3) analyze project characteristics, 4) identify products and activities, 5) estimate effort for each activity, 6) identify activity risks, 7) allocate resources, 8) review and publicize the plan, 9) execute the plan, and 10) create lower level plans. It also provides an example scenario of developing a software package for psychometric testing and walks through applying some of the "Step Wise" planning steps to that scenario.
As more organizations begin to adopt agile on multiple, interdependent teams, how do we ensure that the success within a team can translate to success at the enterprise level?
Presented by: Sanjiv Augustine, President of LitheSpeed
Introduction to Agile Project ManagementSemen Arslan
This document provides an overview of project management methodologies, including Waterfall, SDLC, RAD, and Agile. It discusses the key aspects of each methodology such as phases, pros and cons. The Waterfall methodology is explained in more detail covering its linear phases from requirements to maintenance. Agile project management is also summarized, outlining its key principles of focusing on customer value, working in small batches with integrated teams, and making continuous improvements. Complexity theory and how Agile projects can be viewed as complex adaptive systems is briefly introduced.
The document discusses the "Step Wise" approach to planning software projects. It involves 10 main steps: 1) establish project scope and objectives, 2) establish project infrastructure, 3) analyze project characteristics, 4) identify products and activities, 5) estimate effort for each activity, 6) identify activity risks, 7) allocate resources, 8) review and publicize the plan, 9) execute the plan, and 10) create lower level plans. Each step is then explained in more detail with examples provided for clarification.
This document discusses an overview of agile product management and scrum methodology. It covers the roles of product owner, scrum master and development team. It also describes scrum ceremonies like sprint planning, daily standup, sprint review and retrospective. Additionally, it discusses techniques for backlog grooming, prioritization of user stories, mapping stories to sprints and releases. The goal is to provide a high-level understanding of agile product management concepts and processes.
Deliver on time and improve communication with the business to minimize project failure.
Your Challenge
The Agile evangelists are having trouble converting others to the Agile philosophy.
Your team is facing pressure to deliver projects in a smaller time frame. The Waterfall approach is causing projects to go over budget, misunderstanding of project owners’ expectations, and late delivery to the end-customer.
Projects that get implemented successfully may be susceptible to problems as the software gets older and crucial changes are too expensive.
A consolidation roadmap that is based on an easy-to-implement method will ease the burden on resource and infrastructure maintenance.
Our Advice
Critical Insight
Agile is not suitable for all organizations, or all projects. Carefully select pilot projects that have the greatest chance of success and determine the right requirements or risk significant cost overruns to fix problems or roll back development.
An Agile rollout may require peripheral projects to be accelerated.
Agile will modify internal roles and processes. Get ready for change management.
Impact and Result
Agile will improve communication and transparency between teams and stakeholders, which will lead to higher quality products and fluid team dynamics.
The success of the Agile pilot should be used to build the case for an organizational-wide deployment.
In order for your organization to stay competitive, it must place focus on delivering projects at a quicker pace with the right features.
This document discusses the pros and cons of planning for projects. It acknowledges that the future is unpredictable and estimating is difficult, but argues that planning is still necessary to understand scope, manage complexity and resources, track progress, and adapt to changes. Without planning, projects risk failing due to unclear scope, insufficient resources, lack of baselines, and an inability to course correct. While agile approaches embrace change, they still require planning through timeboxing and prioritizing features. Modern technology may change how planning is done, but the core principles of understanding requirements and managing uncertainty through analysis and review will still apply. The document concludes that cognitive biases can undermine planning rather than a lack of knowledge, and that planning will remain crucial as projects
Similar to Project Management: Adaptive management (20)
RiskyProject is a project risk management software that allows users to perform quantitative risk analysis through Monte Carlo simulations. It integrates with project scheduling tools to assign risks to tasks. RiskyProject's features include a risk register, statistical analysis of cost and schedule risks, sensitivity analysis to determine critical risks, and forecasting project completion based on actual performance tracking. The software provides a simple way to evaluate what may happen to a project if certain risks occur.
How Risk Events and Uncertainties can affect your projectIntaver Insititute
This document discusses how risks and uncertainties can impact project schedules. It explains that risk events have probabilities and impacts that can cause project tasks to slip. It also describes how statistical distributions defined by low, base, and high estimates can model the uncertainties in task durations. Finally, it distinguishes between manageable risks that can be avoided, transferred or mitigated, and unmanageable residual risks or uncertainties that must be accepted.
Construction projects face a myriad of risks that can quickly balloon costs and delay completion. These risks come from many sources including financial, political, regulatory, environment and execution. In our presentation you will discover lessons from construction risk analysis, which can be applicable for other industries. You will learn how construction project managers perform integrated cost and schedule risk analysis. This includes:
* What is so unique about construction project risk analysis
* Why construction projects are often behind schedule and over budget
* Risk analysis in bidding process
* Critical Path for construction schedules with risks and uncertainties
* Risk associated with resources in construction projects
* Examples of project risk analysis of construction schedules
For more information please visit: http://www.intaver.com
The key aspect of linear projects is how it adds a distance dimension to each activity. Linear projects with this distance dimension include high-rise buildings (vertical) or roads, pipelines, and railways (horizontal).
The reasons for linear projects running over budget and schedule almost always are due to errors in judgement and subsequent errors in decision making. One of the key methods used to minimize the impact of management biases is project risk analysis and risk management.
The presentation shows how to use risk analysis for linear schedules.
For more information please visit http://www.intaver.com or http://www.turbo-chart.com
This document provides an overview of Monte Carlo cost risk analysis reporting from Intaver Institute Inc. It includes cost summaries like cost histograms, cumulative probability plots, cash flows, and sensitivity analyses. It also lists task costs, resource costs, and additional resources on risk management from Intaver and related books. Contact information is provided for further questions.
Welcome to Intaver Institutes presentation : How to Model Cost Risk for Monte Carlo Project Risk Analysis. We are going to be taking a detailed look at how costs are calculated and how to apply risks and uncertainties to your cost model for Monte Carlo risk analysis:
- fixed cost and resource cost
- cost risks and uncertainties
- how to define uncertainties in fixed cost using statistical distribution
- risk event for fixed cost
- uncertainties in work
- rate risk
For more information please visit our web site: http://www.intaver.com
Project Risk Analysis and Risk Management Software RiskyProject version 7.1Intaver Insititute
Intaver Institute Inc. released new version of its Project Risk Analysis and Risk Management Software RiskyProject v7.1. This presentation shows new features of the software
In linear projects activities are associated with certain locations. They are usually construction projects, such as building and roads where each activities have location attributes in addition to duration, start and finish times, cost, resources and other attributes of traditional project schedules.
Time location charts are a way of visualizing project schedules with linear locations on the horizontal axis, and dates on the vertical axis. Schedule activities are then plotted onto the chart according to the locations over which they occur and the dates that the project schedule determines.
Time location charts could be presented for original project schedule and risks-adjusted project schedule.
Risk adjusted project schedule is a result of project risk analysis
How to manage risk resilient project and project portfolio. Risk resilient projects and portfolio include risk mitigation and risk response plans. They are defined as a result of project risk analysis. This is a presentation for Society of Risk Analysis World Congress on Risk, Cape Town, May 2019.
Creating and managing risk adjusted project schedules is an important step of schedule risk analysis. Risk adjusted project schedule is obtained based on quantitative risk analysis, particularly Monte Carlo schedule risk analysis. Risks and uncertainties can lead to changes in duration and cost of schedule activities; as a result schedule with risks and uncertainties may look significantly different than original project schedule. Risk adjusted project schedule is a 'realistic project schedule', which should be managed. For more information about risk adjusted project schedules and project risk analysis in general please visit http://www.intaver.com.
RiskyProject is project risk management software that allows users to:
1) Create a risk register to track project risks and mitigation plans.
2) Perform quantitative risk analysis through Monte Carlo simulations to forecast project schedule and cost considering risks.
3) Track project performance and adjust forecasts over time as the project progresses and more information becomes available.
RiskyProject Enterprise is a Windows-based software for project portfolio risk management. It allows users to perform quantitative risk analysis using Monte Carlo simulations to understand how risks may impact project schedules and costs. The software stores risk analysis data for all projects in a database and provides tools like an enterprise risk register, risk reviews, and portfolio views to analyze and manage project risks across an organization.
The document discusses quantitative risk analysis methods for space system projects using an event chain methodology. It describes defining events and event chains that can impact a project, analyzing their probabilities and relationships, and using Monte Carlo simulation to assess their cumulative effects over time. A project example illustrates defining activities, assigning risks and mitigation efforts as events, tracking performance against the original estimate, and regularly reassessing events based on new data. The methodology aims to help project managers better understand project uncertainties and risks.
Neal Elbaum Shares Top 5 Trends Shaping the Logistics Industry in 2024Neal Elbaum
In the ever-evolving world of logistics, staying ahead of the curve is crucial. Industry expert Neal Elbaum highlights the top five trends shaping the logistics industry in 2024, offering valuable insights into the future of supply chain management.
Corporate innovation with Startups made simple with Pitchworks VC StudioGokul Rangarajan
In this write up we will talk about why corporates need to innovate, why most of them of failing and need to startups and corporate start collaborating with each other for survival
At the end of the conversation the CIO asked us 3 questions which sparked us to write this blog.
1 Do my organisation need innovation ?
2 Even if I need Innovation why are so many other corporates of our size fail in innovation ?
3 How can I test it in most cost effective way ?
First let's address the Elephant in the room, is Innovation optional ?
Relevance for customers
Building Business Reslience
competitive advantage
Corporate innovation is essential for businesses striving to remain relevant and competitive in today's rapidly evolving market. By continuously developing new products, services, and processes, companies can better meet the changing needs and preferences of their customers. For instance, Apple's regular release of new iPhone models keeps them at the forefront of consumer technology, while Amazon's introduction of Prime services has revolutionized online shopping convenience. Statistics show that innovative companies are 2.5 times more likely to have high-performance outcomes compared to their peers.
This proactive approach not only helps in retaining existing customers but also attracts new ones, ensuring sustained growth and market presence.
Furthermore, innovation fosters a culture of creativity and adaptability within organizations, enabling them to quickly respond to emerging trends and disruptions. In essence, corporate innovation is the driving force that keeps companies aligned with customer expectations, ultimately leading to long-term success and relevance.
Business Resilience
Building business resilience is paramount for companies looking to thrive amidst uncertainties and disruptions. Corporate innovation plays a crucial role in fostering this resilience by enabling businesses to adapt, evolve, and maintain continuity during challenging times. For instance, during the COVID-19 pandemic, many companies that swiftly innovated their business models, such as shifting to remote work or expanding e-commerce capabilities, managed to survive and even thrive. According to a McKinsey report, organizations that prioritize innovation are 30% more likely to be high-growth companies. Innovation not only helps in developing new revenue streams but also in creating more efficient processes and resilient supply chains. This agility allows companies to quickly pivot in response to market changes, ensuring they can weather economic downturns, technological disruptions, and other unforeseen challenges. Therefore, corporate innovation is not just a strategy for growth but a vital component of building a robust and resilient business capable of sustaining long-term success.
m249-saw PMI To familiarize the soldier with the M249 Squad Automatic Weapon ...LinghuaKong2
M249 Saw marksman PMIThe Squad Automatic Weapon (SAW), or 5.56mm M249 is an individually portable, gas operated, magazine or disintegrating metallic link-belt fed, light machine gun with fixed headspace and quick change barrel feature. The M249 engages point targets out to 800 meters, firing the improved NATO standard 5.56mm cartridge.The SAW forms the basis of firepower for the fire team. The gunner has the option of using 30-round M16 magazines or linked ammunition from pre-loaded 200-round plastic magazines. The gunner's basic load is 600 rounds of linked ammunition.The SAW was developed through an initially Army-led research and development effort and eventually a Joint NDO program in the late 1970s/early 1980s to restore sustained and accurate automatic weapons fire to the fire team and squad. When actually fielded in the mid-1980s, the SAW was issued as a one-for-one replacement for the designated "automatic rifle" (M16A1) in the Fire Team. In this regard, the SAW filled the void created by the retirement of the Browning Automatic Rifle (BAR) during the 1950s because interim automatic weapons (e.g. M-14E2/M16A1) had failed as viable "base of fire" weapons.
Early in the SAW's fielding, the Army identified the need for a Product Improvement Program (PIP) to enhance the weapon. This effort resulted in a "PIP kit" which modifies the barrel, handguard, stock, pistol grip, buffer, and sights.
The M249 machine gun is an ideal complementary weapon system for the infantry squad platoon. It is light enough to be carried and operated by one man, and can be fired from the hip in an assault, even when loaded with a 200-round ammunition box. The barrel change facility ensures that it can continue to fire for long periods. The US Army has conducted strenuous trials on the M249 MG, showing that this weapon has a reliability factor that is well above that of most other small arms weapon systems. Today, the US Army and Marine Corps utilize the license-produced M249 SAW.
Many companies have perceived CRM that accompanied by numerous
uncoordinated initiatives as a technological solution for problems in
individual areas. However, CRM should be considered as a strategy when
a company decides to implement it due to its humanitarian, technological
and process-related effects (Mendoza et al., 2007, p. 913). CRM is
evolving today as it should be seen as a strategy for maintaining a longterm relationship with customers.
A CRM business strategy includes the internet with the marketing,
sales, operations, customer services, human resources, R&D, finance, and
information technology departments to achieve the company’s purpose and
maximize the profitability of customer interactions (Chen and Popovich,
2003, p. 673).
After Corona Virus Disease-2019/Covid-19 (Coronavirus) first
appeared in Wuhan, China towards the end of 2019, its effects began to
be felt clearly all over the world. If the Coronavirus crisis is not managed
properly in business-to-business (B2B) and business-to-consumer
(B2C) sectors, it can have serious negative consequences. In this crisis,
companies can typically face significant losses in their sales performance,
existing customers and customer satisfaction, interruptions in operations
and accordingly bankruptcy
Maximize Your Efficiency with This Comprehensive Project Management Platform ...SOFTTECHHUB
In today's work environment, staying organized and productive can be a daunting challenge. With multiple tasks, projects, and tools to juggle, it's easy to feel overwhelmed and lose focus. Fortunately, liftOS offers a comprehensive solution to streamline your workflow and boost your productivity. This innovative platform brings together all your essential tools, files, and tasks into a single, centralized workspace, allowing you to work smarter and more efficiently.
2. Power of Adaptation
Will Polar Bears Be Extinct Because of
Global Warming?
Hopefully not, as
they are capable of
adapting to
changing conditions
3. Adaptive Management
Adaptive management is a structured and systematic
process for continually improving decisions,
management policies, and practices by learning from the
outcomes of previous decisions.
Proposed by ecologists
C.S. Holling and Carl J.
Walters as a framework
for managing ecological
problems
Adaptive management of fish
stocks
4. Agile Project Management
We are uncovering better ways of developing software
by doing it and helping others do it. Through this work we
have come to value:
Individuals and interactions over processes and tools
Working software over comprehensive documentation
Customer collaboration over contract negotiation
Responding to change over following a plan
From the Agile Manifesto:
5. Main Principles of Adaptive Management
• Iterative decision-
making: make
choices based on
learning from the
outcomes of previous
decisions
• Strategic flexibility:
avoid irreversible
decisions
• Continuous
quantitative
analysis: multi-model
analysis and
hypothesis testing
• Measurement of
actual performance
Organizational Principles Quantitative Methods
6. PMBOK® Guide About Adaptive Management
The PMBOK® Guide (Project Management Institute,
2004) does not explicitly use the term adaptive
management.
However, you will find important information related to
adaptive management in two process groups: project
execution and project monitoring and controlling.
• Monitor and control project work
• Integrated change control
• Quality Control
• Risk Monitoring and Control
The project monitoring and controlling process group includes the
following project management processes:
7. Most Living Organisms Are Able to Adapt
Except one
creature
This creature is
the project
manager
Why? - Human psychology
8. Tendency to Be Consistent
People tend to resist any
inconsistencies for
themselves and others
The ability to change
direction based on external
input is an important skill for
project managers.
A police interrogation
technique is based on
an attempt to find
inconsistency in the
statements.
9. Sunk Cost Effect
X-33’s composite liquid hydrogen
fuel tank failed during testing in
November 1999.
Lockheed Martin proposed to
complete the development of the
X-33 by replacing its two
composite liquid hydrogen tanks
with aluminum tanks. But NASA
concluded that the benefits of
testing the X-33 in flight did not
justify the cost.
X-33 investment: $912 million
NASA overcame the sunk cost
effect: a cost incurred in the past
that affects present or future
decisions. Sunk costs should
be ignored.
Good example
Bad example
Concord project
10. “Guilt of Indecisiveness”
Organizations expect managers to
make decisions, even if managers do
not have enough reliable information
required to make these decisions.
Decisiveness is a clear plan that:
outlines when, where, and how to
collect missing information, and
when and how to make decisions.
11. Active vs. Passive Adaptive Management
Project
Strategy
Project
E xecution
Project
Monitoring and
Control
Project
E valuation and
Review
Project
Planning and
Scheduling
Reevaluation if Strategy Failed
Adaptive Learning
Iteration
Planning and
Scheduling
Iteration
Strategy E xecution
Iteration
Review
E valuation and
Iteration
Monitoring and
Control
Iteration
Strategy
Iteration Hypothesis
Generation
Modeling
Modeling
Modeling
E xecution
E xecution
Iteration
Monitoring and
Control
Iteration
E valuation and
Review
Adaptive Learning
Hypothesis testing
Traditional Approach
Passive Adaptive Management
Active Adaptive Management
PMBOK@ Guide
Agile Approach
12. Should she kill her cow?
1
2
3
$2/lb
$3/lb
$5/lb
Or how people make irreversible decisions
Three
irreversible
decisions
13. Avoiding Irreversible Decisions
• Rule # 1: Always consider alternatives
• Rule #2: Try to postpone the most important
decisions for as long as possible, so as to
be able to collect new information
• Rule #3: Try to minimize the cost of
decision reversals
14. Continuous Quantitative Analysis
• Use multiple models (project schedules) to
plan and analyze the project
• Always perform project performance
measurement; use reality checks at each
project milestone
• Perform quantitative risk analysis to
generate actual forecasts at each project
milestone
15. Role of Project Metrics
Hypothesis testing
Adaptive Learning
Review
Evaluation and
Iteration
Control
Monitoring and
Iteration
Execution
Execution
Modeling
Modeling
Modeling
Generation
HypothesisIteration
Strategy
Project Metrics are
used as part of active
learning and
hypothesis testing
18. Track Actual Project Performance
Some tasks are
100% complete
Other tasks are
partially
complete or
incomplete
What will happen if the project schedule is based on
information about actual performance?
19. Adjust Your Forecast Based on Actual Data
Original (baseline) project
duration
Project is partially
done (actual data)
Forecast: Low,
Most likely, and
High estimates
20. Analyze and Forecast Costs With Risks and
Uncertainties
Cost forecast
(with risks)
Original cost estimate
Actual cash
flow
Monte Carlo cost risk analysis provides insight into validity of current cost estimates
21. Quantitative Analysis of Iterative
Development Process
Risk
20%
Risk
20%
Risk
20%
Risk
60%
Scenario 1
Scenario 2
Monte Carlo risk analysis can be performed in Agile projects
22. Why You Should Mitigate Risk
As Soon As Possible
When a risk occurs can drastically affect your project outcomes
23. Is Your Company Ready for Adaptive
Management?
The Role of the Business Environment
A small test will help determine the
“adaptive management maturity” in
your organization.
24. Question 1
• Dismiss the idea on the spot – 0 pts
• Promise, but never actually perform a review – 1 pts
• Conduct a detailed and serious review immediately – 4 pts
A young engineer comes to the senior manager with a
proposal to save $10 million on a $50 million project.
According to his plan, the project will be completed on
time, but 20% of the work will need to be redone.
How would the manager respond?
25. Question 2
• The failure occurred because of weather, contractors, bad
materials, Lord Voldemort, aliens, etc. – 0 pts
• Due to unpredictable and unexpected circumstances our
team had some issues - 1 pts
• We screwed up badly, but we know how to fix it - 4 pts
A project manager and his team fail badly on a project.
The project manager must explain what happened to
senior management. Senior management does not
understand the scope of the project. How would the
project manager explain the situation?
26. Question 3
When did your organization or team last have a
meaningful project review or evaluation?
• During the last ice age or earlier – 0 pts
• When something exploded, someone killed, etc. - 1 pts
• When we completed our last project - 4 pts
27. Question 4
Do you use an iterative project development process in
your organization?
• What is an iterative project development process? – 0 pts
• For some projects, if necessary - 1 pts
• This is how we manage complex projects - 4 pts
28. Adaptive Management “Maturity
Assessment”
• 0 – 8 – Your projects will benefit from adaptive
management practices as soon as they are
established in your organization
• 8 – 12 – Your organizational culture supports
adaptive management, but there is opportunity for
improvement
• 12 – 16 – You probably don’t need to be at this
presentation: your organization already has good
adaptive management processes.
29. Recommendations
1. Whenever possible, do not define a detailed project plan
upfront, instead use an iterative project management
approach.
2. Always identify multiple project alternatives or
hypotheses; model these alternatives; and if it is deemed
beneficial, start implementing a few alternatives at the
same time.
3. Use quantitative risk analysis at each phase and
iteration of the project.
30. Recommendations
4. Integrate original assumptions and new learnings
when planning next project iterations.
5. Try to minimize the cost of decision reversals; minimize
risk by keeping the option to change project direction
available.
6. Ensure that adaptive management is implemented
within a creative business environment, which is
characterized by a collaborative structure for stakeholder
participation and learning.
31. Additional Resources
31
Project Think:
Why Good
Managers Make
Poor Project
Choices
Project Decisions:
The Art and Science
Introduction to
Project Risk
Management and
Decision Analysis
Project Risk
Analysis Made
Ridiculously Simple