Project management would be a lot easier if our original plans were accurate and reliable. This is relatively easy when it comes to follow-on production or deployment of a well-established repeat service. It gets progressively more difficult as the complexity and risk associated with development projects increases. In certain organizations, a top-down estimate suffices. In others, a bottom-up estimate of project schedule and cost is developed from scratch each time. In others, analogous data (from past projects) is readily available, and used to arrive at new estimates. And in the more adept organizations, multiple estimates are developed, then “bridged”, and even analyzed from an overall project risk stand-point using Modelling and Simulation tools and techniques. The right approach (or “best practice”) to use should be dependent on the project profile. The more complex and risky projects, whereby project team performance is highly scrutinized, would likely fall into the category of using the most versatile and effective estimating tools and techniques. These typically necessitate organizational infrastructure and support systems for the establishment of requisite databases, and enabling effective implementation. Applicable information regarding the use of these various tools and techniques is provided in my book “Project Risk Management: A Practical Implementation Approach.” “Doing more with less” in an effective way will likely necessitate a certain amount of investment in organizational assets.
The objective of this series of posts is to provide insights into the breadth of Holistic Project Risk Management, especially as it relates to satisfying an organization’s objective to “Do More with Less” – which, if done well will improve the organization’s business success. The plan is to provide 2 posts per week over the course of 10 weeks. Thus, there will be time in between topics to comment and/or reach out to the author for clarification or further requests. Past posts will be assembled and stored on the Build2Scale.net website for future reference.
My text book “Project Risk Management: A Practical Implementation Approach” can be purchased via the following link: