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Let’s define such using PMI as our guide: Earned value (EV) is the measure of work performed, expressed in terms of the budget authorized for that work. Planned Value (PV) is the authorized budget assigned to scheduled work, the total budgeted cost of the planned work. EVM in Microsoft Project.
Project Performance Management (#PPM). Technical PerformanceMeasures (#TPM). Cost, Schedule, and Technical Performance Management (#CSTPM). Project Performance Management. Building a Credible PerformanceMeasurement Baseline - without a good foundation, nothing can be built. Risk Management (#RM).
Shipping on time, to specifications, and within budget might be meaningless if a competitor is shipping software that has a greater value to the market. The notion of reducing uncertainty may be possible, but shipping on time and budget may be meaningless if a competitor ships greater value. Laird and M. 37–48, 2007. .
When actual measures of cost, schedule, and technical performance are outside the planned cone of uncertainty, corrective actions must be taken to move those uncertanties inside the cone of uncertanty, if the project is going to meet it's cost, schedule, and technical performance goals. . Resources. [1] Resources. [1]
The Measures that are modeled in the Cone of Uncertainty are the Quantitative basis of a control process that establishes the goal for the performancemeasures. This is a closed loop control system for managing the program with a T echnical PerformanceMeasure (TPM). Resources. [1] Resources. [1] Air Force. [4]
When actual measures of cost, schedule, and technical performance are outside the planned cone of uncertainty, corrective actions must be taken to move those uncertanties inside the cone of uncertanty, if the project is going to meet it's cost, schedule, and technical performance goals. . Resources. [1] Air Force. [4]
Organizations that use a methodology: 38% meet budget. VS. Organizations that don’t use a methodology: 31% meet budget. More than 90% of organizations perform some type of project postmortem or closeout retrospective. [9]. How Project Success is Measured: 20% — Satisfied stakeholders. 18% — Delivered within budget.
All making things smaller dos is show that you're late, over budget, and what you're building (Technical PerformanceMeasures) doesn't work faster. Lechler, Ting Gao, and Barbara Edington, Project Management Institute, 2013. So making things smaller does little if anything for the risks produced by Aleatory uncertainty.
For approaches that have been implemented on existing systems, obtaining such understanding may require measurement and analysis. For scenarios where the project under consideration does not yet exist, performance prediction using analytical modeling or simulation is necessary. 413-426, 2013.
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