Key word : SENSITIVITY ANALYSIS, TORNADO, QUANTITATIVE Sensitivity Analysis : This is a technique and the goal is to determine which are the risks that impact the most the project. What is a Tornado diagram : This is a special bar chart
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Key words : Project Selection Methods, Business documents, Benefits Management Plan, Present Value (PV), Net Present Value (NPV), Benefit Measurement Method, Economic Models, Murder board, Pear Review, Scoring Models, Discounted Cash Flow technique, Payback Period Benefit Measurement Methods It helps to make project decisions. We can use the method of ECONOMIC MODELS (it exists also
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Key words : Cost, Earned Value Management, Actual Cost, AC, Planned Value, PV, Earned Value, EV, Budget At Completion, BAC, Cost Variance, CV, Schedule Variance, SV, Cost Performance Index, CPI, Schedule Performance Index, SPI, Estimate At Completion, EAC, Estimate To Complete, ETC,
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Key words : Schedule, Beta Standard of Deviation, Range of Estimate of Activity Duration (EAD), Range of Estimate of Activity Cost (EAC) Beta Standard of Deviation (SD) Beta Standard of Deviation (SD) is measure of how dispersed a group of values are
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Key words : Knowledge Transfert, Learning Curve, Student Syndrome, Parkinson’s Law, Triangular distribution, BETA distribution, PERT estimate Some considerations : Number of resources : Increasing the number of resources to TWICE the original number of resources DOES NOT ALWAYS reduce the time
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Key words of Communication Model : SENDER, ENCODE, MEDIUM, NOISE, DECODE, RECEIVER, FEEDBACK, ACKNOWLEDGE Medium : How the message travels (ex. email server, …). Noise : A little joke in the message and you can’t tell if I’m joking or not (
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Types of Communication: PUSH, PULL, INTERACTIVE Push communication : This is information is sent to a group of individuals or Stakeholders via emails, memos, letters, reports, faxes, voice mails, blogs, press releases. This ensures that the information is distributed BUT does not
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Communication Channel : This is the total number of potential communication channels between the Stakeholders. Example : As a Project Manager, you had 7 Stakeholders to communicate with. Hence, you have 28 communication channels. Two new Stakeholders has been added with whom you
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Key Concepts of Communication : How to avoid the misunderstanding in the written communication ? Apply the rules of the 5 C’s (see picture attached)
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“Work expands so as to fill the time available for its completion” – Cyril Northcote Parkinson – A brilliant satirical essay published on November 19, 1955 in The Economist magazine begins with this quote that is so often seriously called law. A
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1 – Risk Owner : The Risk is an ‘uncertainty that matters’ and that affects the objective of the project. So, the question is : “Who does it matters ? “. If it matters to me, I need to think about it,
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