What can I say about risk that hasn’t already been said? Let’s look at one tiny aspect, risk tolerance. Risk tolerance is an organization’s or individual’s willingness to operate in an uncertain environment. Individual Risk Tolerance Each of us has risk tolerance we display every day. Some personal individual risk tolerance examples are: Do you […]
Read MoreThis post is Part 2 on Cost Estimating. In case you missed it, here is Cost Estimating – Part 1. The seventh principle of Project Management is “Minimize total cost, not the price of resources”. We need to discuss the total cost if we are to adhere to this principle. Although there is wonderful guidance […]
Read MoreThe seventh principle of Project Management is “Minimize total cost, not the price of resources”. We need to discuss the total cost if we are to adhere to this principle. Although there is wonderful guidance in the PMBOK® Guide, the best practices for a Federal environment come from the GAO Cost Estimating and Assessment Guide. […]
Read MoreWORK In part two of this scheduling blog, I want to concentrate on the “Develop Schedule” process and how the intersection of work and resources applies to schedule compression. As I stated previously, scheduling is linear and predictable, but the instance we add humans we may get non-linear behavior. Types of Work Work type is […]
Read MoreRESOURCES The sixth Principle of Project Management is, “You can do a lot, if you work out your schedule.” Scheduling is defined in the PMBOK® Guide under Project Time Management and entails 6 processes: Define Activities, Sequence Activities, Estimate Activity Resources, Estimate Activity Duration, Develop Schedule, and Control Schedule. Scheduling is a wonderful science with […]
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