Simulation, Modelling and Probability Management
Calculating Uncertainty in Project Planning
Probability Management for projects is about planning and estimating and choosing realistic targets. It's about fixing the Flaw of Averages and inherent bad math that causes project estimating tools to give wrong answers. It's about giving projects the time and resources they need to succeed.
A successful project starts with a crystal clear objective. It has well-described requirements, so that no one can possibly misunderstand what's to be achieved. But that's just a start.
There's a long dog-eared list of things that contribute to project failure. We know what they are and we know what to do about them. Project failure rates should be plummeting, and yet, failure rates have been constant for decades. There's one thing left to do – fix the math.
The calculations in conventional project planning tools suffer from The Flaw of Averages. The more complex the project, the more things are happening at once – the bigger the errors. And the errors are all one-sided; they consistently underestimate project cost and duration. Underestimating resources makes it more likely that a project will be approved and makes it more likely that it will fail. That's a double-whammy that results in too many failed projects.
Probability Management for Projects is a better way to plan and estimate. It's not a product. The only product you need is one you already have – Excel.
Have you had your fill of crunch mode? Consider giving me a call. Marc Thibault, Consulting Systems Analyst
I can help you clarify your objective, negotiate unambiguous requirements, and develop a plan to achieve the objective. Better yet, I can help you fix the math and launch your projects with the time and resources they need to succeed.
You can start managing your odds of success today. Let's talk.