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Please find below a transcription of the audio portion of Fletcher Hearn’s session, Project PerformanceMeasurement – Part 1: Overview Of Project PerformanceMeasurements, being provided by MPUG for the convenience of our members. Kyle: Hello, and welcome to part one of MPUGs Project PerformanceMeasurement course.
Keep reading for my analysis and reviews of the best PMI-ACP prep books that will help you understand agile methodologies and earn your agile certification. I read and review a lot of books, so I feel confident recommending these to you! I also speak to a lot of authors and have met many project management trainers over the years.
Misaligned Incentives : Tying management incentives to traditional performancemeasures incompatible with Scrum or agile principles. I should consider this analysis of the origins of the gold-plating anti-pattern for the next revision of the book.)
All project progress is measured independent of resources expended - Mr. Gary Bliss, Director Performance Assessment and Root Cause Analysis (PARCA), US Department of Defense. This bounding of the cost estimate may be attempted through sensitivity analyses or through a formal quantitative risk analysis.
Business Analysis A process in which an individual identifies business needs, defines solutions and facilitates change to meet organizational goals. Cost-Benefit Analysis A method is used to assess a project’s potential benefits compared to its costs to determine if the project is worth doing. It is also known as the 80-20 rule.
Project Governance. Integrated Master Plan: The Foundation of Program Success , College of Performance Management, May 21, 2014. The Nine "I's" of Program Success ," College of Performance Management. Project Performance Management. Building a Credible PerformanceMeasurement Baseline. Project Breathalyzer.
Process Improvement Tool #1: Gap analysis. Gap analysis examines and assesses performance to identify the difference between your current business state and where you’d like to be. To complete a gap analysis, you’ll need to define: The current situation, or performance. The ideal situation, or potential.
Technical PerformanceMeasures (#TPM). Cost, Schedule, and Technical Performance Management (#CSTPM). Governance (#Governance). Managing Government Grant Projects at Arizona Public Service - APS management process for Department of Energy grant for algae CO2 capture project. Project Performance Management.
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.
In-depth Analysis of Selected Risk Management Frameworks When it comes to risk management, organizations have several frameworks to choose from. It provides a set of control objectives, best practices, and management guidelines for effective risk management and IT governance.
Prerequisites for portfolio management In the first article, Steve Butler delves into portfolio governance. The primary goal of governance in portfolio management is to ensure that processes are established to define, align, authorize, and control portfolio elements, while also supporting overall governance decision-making activities.
Discover the importance of organizational governance systems, delve into essential project-associated functions, learn how to navigate the project environment, and ensure you are communicating and building relationships with internal and external stakeholders.
Of course, No Root Cause analysis has been performed by these advocates, but it makes good click bait for their followers. This approach is guided by the processes for Root Cause Analysis on Software Intensive System of Systems project I've worked. Root Cause Analysis. Getting it Right. Court Document. Assessment.
I work in a domain where the CoU is baked into the Integrated Program Performance Management (IPPM) processes flowed down from the buyer, in this case, the Federal Government. The CoU paradigm defines the needed reduction in uncertainty is some performance metric. This can be the confidence in the estimate for any variable.
Process Narratives may be used to facilitate contractor commitment to the use of crucial processes and procedures and provide the Government with an understanding of the proposed crucial processes and procedures prior to contract award. The contractor’s immediate customer may be a government organization or a prime contractor.
The Cone of Uncertainty as a Technical PerformanceMeasure. In our domain, Root Cause Analysis is mandated before ANY suggested change for improvement, prevention, or corrective actions are taken. The Cone of Uncertainty as a Technical PerformanceMeasure. Measure of Effectiveness. Measure of Performance.
Measures of Performance - are performancemeasures that characterize physical or functional attributes relating to the system operation, measured or estimated under specific conditions. Measures of Performance. The Technical PerformanceMeasures. The decision.
There are several partitions of this information that are common in building the PerformanceMeasurement Baseline (PMB). International Cost Estimating and Analysis Association. Several other government estimating organizations. The PMB is a time phased, budgeted description of the project.
Economics is a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services. risks that may prevent the end item from performing as intended or not meeting performance expectations. risks that affect the cost and schedule measures of the program.
This applies not only to messaging, but also to your strategic plans, tactical plans, process designs, people, tools, performancemeasurement – really, everything that Marketing does. This analysis and management of stakeholder needs is also known as ecosystem. This is also known as governance or guidance.
This notion shows that governance is not considered a requirement for the business. Root Cause : The failure to understand that in the presence of uncertainty, prioritization is a probabilistic process of assessing the possible outcomes - Analysis of Alternatives - for each decision.
Key Performance Parameters (KPP) – Represent the capabilities and characteristics so significant that failure to meet them can be cause for reevaluation, reassessing, or termination of the program. KPPs have a threshold or objective value that characterize the major drivers of performance that are considered Critical to Customer (CTC).
Approach Analysis : A technique to analyze the various methods that can be used to meet the project's goals. Approach Analysis is used during the Planning phase of each project. Audit: The process of analyzing a project to ensure that it is being governed as intended. A project sponsor can request an audit. its "critical path").
In Earned Value Management paradigm, progress is always measured as physical percent complete. This physical percent complete is measured as compliance with the Technical PerformanceMeasures of the outcomes of the work efforts, that consume the budget for that work. Technical PerformanceMeasures.
We're working on a White Paper for the Joint Space Cost Council which is an organization composed of government (NRO, NASA, USAF, and others) and industry representatives with an interest in space. Our topic is Increasing the Probability of Program Success Thorugh Continuous Risk Management. .
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]
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]
Don't ever do analysis of cost and schedule variances without first understanding the accuracy and precision of the original estimate. Don't ever make suggestions to make changes to the processes without first finding the root cause of why the actual performance has a variance with the planned performance.
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]
It is an organized methodology for continuously identifying and measuring unknowns; developing mitigation options; selecting, planning, and implementing appropriate risk mitigations; and tracking the implementation of the mitigation and planned margins to assure successful risk reduction.
Increasing the Probability of Project Success Simple in Theory, Complex in Practice. When we hear any suggestion about improving the probability of success of a project, there are some simple tests to confirm there actually is such a thing. This means having a set of Principles, Process, and Practices to test the suggestion against.
In our domain this is the PerformanceMeasurement Baseline, which is a time-phased budget plan for accomplishing work against which contract performance is measured. But margin, management reserve, analysis of alternative is standard project management process of dealing with the indeterminate elements of projects.
This is a closed loop control system for managing the program with a T echnical PerformanceMeasure (TPM). There can be cost and schedule performancemeasures as well. If the vehicle gets overweight, money and time are needed to correct the undesirable variance.
The 2008 mortgage crisis for example (although many did an made lots of money), the government didn't. An important outcome of Macroeconomics is establishing the appropriate interest rates in an economy, where the government sets a base rate and banks work from there. Microeconomics is about individual or company behaviors.
We can't talk about estimates or estimate, without also talking about the precision and accuracy of the estimate (the noun) after we have performed the estimate (the verb). . What is an estimate? An estimate as a noun is an approximate calculation or judgment of the value, number, quantity, or extent of something.
No matter the size of the project. No matter the project domain. No matter the engineering processes used to produce the outcomes from the project. There are Five Immutable Principles of project success. These principles are Immutable because they are universally applicable.
The analysis should be accurate, unbiased, and reflect reality. Importantly, it also defines governance, oversight, and management review processes. PerformanceMeasures Setting and tracking performancemeasures impacts net project success scores. As Peter Drucker said, What gets measured gets done.
Meaning to say creating value, organizational governance and systems, functions associated with projects, the project environment, and product management considerations all provide the context for how project management could be conducted. I remember that. They had a stakeholder section before. They got resources. How do we get our baselines?
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