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project risk

The Butterfly Effect and How It Will Impact Your Project

Previously, we have discussed how schedule pressure and various schedule compression techniques may manifest themselves unpredictably and with adverse effect on the project. When pondering this correlation it might be comforting to recall the age old adage of, “haste makes waste”; my grandfather would always postulate. He would know. As a mechanical engineer working on high risk projects including the NASA Space Shuttle, to him it was important that it be done right the first time and every time. This precluded cutting corners to save time, especially with lives at stake.

Qualitative / Quantitative Risk Assessment in Primavera P6 EPPM R15.2

One of the good things about being a consultant is being able to find (or build!) more opportunities across a wide range of projects and clients an

Distributed -v- Consolidated Contingencies

Distributed contingencies are normal in most aspects of project management but often result in sub-optimal use of resources. Typical examples include allowing some safety margin in each CPM duration estimate (eg, setting the durations at an 80% probability), allowing contingencies on a project by project basis for risk, setting budgets with a 90% confidence limit, etc.

Winning Risk Management

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