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I work in the Software Intensive System of Systems domains in Aerospace, Defense, Enterprise IT (both commercial and government) applying Agile, Earned Value Management, Productive Statistical Estimating (both parametric and Monte Carlo), Risk Management, and Root Cause Analysis with a variety of capabilities. Who's Budget is it Anyway?
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.
Unrealistic performance expectations missing Measures of Effectiveness and Measures of Performance. Defining the Measures of Performance, the resulting Measures of Effectiveness, and the Technical PerformanceMeasures of the resulting project outcomes is a critical success factor.
This is an immutable principle that impacts planning, execution, performancemeasures, decision making, risk, budgeting, and overall business and technical management of the project and the business funding the project no matter the domain, context, technology or any methods. This is called back to green where we work.
About a third of projects are delivered on time, on budget, and with the desired scope. The Vice President of Project Management Capabilities at an aerospace company urges project managers to be intentional. PerformanceMeasures Setting and tracking performancemeasures impacts net project success scores.
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. In our aerospace and defense business - not so much.
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