Expected monetary value (EMV) is a risk management technique to help quantify and compare risks in many aspects of the project. EMV is a quantitative risk analysis technique since it relies on specific numbers and quantities to perform the calculations, rather than high-level approximations like high, medium and low. EMV relies on two basic numbers. […]
There is concern from many project managers that they are expected to estimate the effort, duration and cost of a project at the end of the planning process before the detailed requirements have been gathered. It seems like a valid question. Yet, when you talk about gathering detailed requirements, you are usually talking about the […]
There are two approaches for organizations looking to start collecting metrics. One is a formal, structured approach and one is an unstructured “let’s just do it” approach. The Structured Approach One way to get a metrics program started is to get a set of key stakeholders together and go through a planning exercise. This takes […]
Every time you’re given a new project, you first start with a process of initiating and planning. There are additional things to consider to ensure you start the project off right. Take responsibility. Take responsibility for delivering the project, and ensure other stakeholders are accepting their responsibilities as well. Be sure the sponsor will provide […]
In each iteration Agile project teams implement a set of user stories pulled from the Product Backlog in priority order. The number of stories implemented in each iteration depends on the amount of effort it takes to fully implement each story. The question – how do Agile teams estimate the size of each user story? […]
Risks are future events or conditions that have some probability of occurring and some impact to your project. You usually always think of risks as being bad. However, is it true that all risks are bad? Let’s say your project was going to utilize a new tool or new technology. This introduces some risk since […]
When your portfolio of work consists of one or two dozen projects, it’s possible to keep track of what’s going on with spreadsheets or simple desktop tools. However, tracking projects, resources, and costs with standalone tools becomes increasingly more difficult as your project pipeline grows. This webinar will focus in two main topics. First we’ll […]
[image source_type=”attachment_id” source_value=”150″ align=”right” width=”300″ autoHeight=”true”] There are many companies that do not have common project management processes, templates, approach and skills. One initial observation is that companies that don’t manage projects well are usually run by senior managers who never learned formal project management themselves. It is hard for them to lead culture change […]
There are not many full project management methodologies available on the market. The Method123 Project Management Process (MPMM) is one of the best. MPMM includes an entire methodology for managing projects. It steps you through every phase, activity and task needed to complete a project from start to finish. MPMM is a methodology because it […]
Stakeholder needs and expectations are set through the gathering and agreement of the requirements of the final solution. Gathering requirements usually requires more than asking a few questions and then building the solution. Projects with any degree of complexity need a formal process to ensure the right set of requirements are gathered, reviewed, documented and […]
