Remove Influencer Remove Project Cost Remove Risk Management
article thumbnail

Monte Carlo Risk Analysis in Project Management

Project Pulse Journal

By: Dr. Michael Shick, MSPM, PMP, CSM Are you a project manager struggling to predict the risks in your projects accurately during planning? Do you find yourself overcome by the inherent uncertainty of project variables like cost or schedule and worried about how they might impact your project's success?

article thumbnail

Have You Left Anything Out of Your Project Management Plan?

Project Risk Coach

Have you left anything out of your project management plan? Check out this checklist to help you identify the baselines and plans that will be most helpful to each of your projects. As I define a project management plan, I strive for clarity, brevity, and simplicity. schedule management plan) Ancillary plans (e.g.,

Planning 379
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Importance of Scenario Planning and Analysis in Business

ProjectManager.com

Then we’ll explore scenario planning in business and project management before explaining the steps that must be taken to use this process. Scenario planning is a strategy used to consider possible future events for an organization or project to develop an effective and relevant long-term plan to respond positively to that change.

Planning 379
article thumbnail

Stakeholder Mapping 101: A Quick Guide to Stakeholder Maps

ProjectManager.com

More than just being able to identify who the stakeholders are in the project, you need to manage them. How do you know who needs what when communicating with them during the project? That is the beginning of stakeholder management, and it starts with stakeholder mapping. It’s a big task. Try it for yourself today!

article thumbnail

What Is a Post-Implementation Review in Project Management?

ProjectManager.com

In short, a post-implementation review is a process to evaluate whether the objectives of the project were met. You can also use it to see how effectively the project was managed. This helps to avoid making similar mistakes with future projects and learn how to run the project better. What are the lessons learned?

article thumbnail

What Is a Cost Breakdown Structure (CBS) In Project Management?

ProjectManager.com

There are many factors that must be considered, and project managers use a cost breakdown structure to help them determine the cost of that product. Using a cost breakdown is essential to developing a sound cost breakdown analysis and selling that product or delivering the project at a profit.

article thumbnail

Project Controls: A Quick Guide

ProjectManager.com

If something bad is going to happen on a project, it’s likely related to time, cost or scope. Project managers are well aware of this and spend much of their time planning in order to avoid negative risk and its potential impact. In fact, it works throughout the entire life cycle of a project. Methodology.