Project Decision And Risk Analysis Whitepapers
Topics Covered:
- Project Management
- Decision Analysis
- Risk Management
- Event Chain Methodology
- Psychology of Project Management
Copyright Notice:
Materials published by Intaver Institute Inc. may not be published elsewhere without prior written consent of Intaver Institute Inc. Requests for permission to reproduce published materials should state where and how the material will be used.
Choice Engineering in Project Management
People often make poor choices because of illusions. At the same time, they don't perform any analysis that would improve their decisions because of other illusions to which they are subject. Is there a solution to this problem? Establishing effective processes is always considered an effective way to improve project management. For example, if a project manager follows mandatory guidelines in time, scope, cost, risk management and other knowledge areas, this should improve the quality of the decisions made during the execution of the project and reduce chance of failure. But such processes are hard to implement, often expensive, and grudgingly followed if at all by some team members once they have been introduced. In many cases, especially for smaller projects, it would be more beneficial to create an environment within which people are encouraged on their own volition to make better choices, rather than mandate these choices. This is called choice engineering.
Download in PDF formatAnalysis vs. Illusions in Project Management
Structured analysis of the situation helps project managers to overcome illusions can improve their judgment. However, more likely than not, prior to making a decision people have not performed any structured analysis, or they misinterpret the results of the analysis. Complicating matters, sometimes the analysis is extremely complex and results may be incorrect. Even if the analysis is performed and is correct, often people do not realize its value. As a result, even now where we have highly trained experts with access to powerful computers, running the most advance advanced mathematical models, we still bear witness to the outcome of so many poor quality decisions.
Download in PDF formatWhy Good Project Managers Make Bad Choices
It is not uncommon to see good and experienced project managers make poor decisions that led to issues and eventually project failures. What is the explanation: misjudgment, lack of experience, or do some project managers just run out of luck? People make similar repeatable mental mistakes when they make choices, whether they are mothers trying to decide which is the fastest route to their children’s soccer match or managers of large companies who are trying to decide which design they should use for their next product launch. These illusions are a primary source of human error in project management, errors that can eventually lead to project failures.
Download in PDF formatAdaptiveProject Management
Originally developed by ecologists, adaptive management has become a powerful framework for project management. It is a structured and systematic process to continually improve decisions and practices by learning from the outcomes of previous decisions. Adaptive management includes a number of organizational principles, such as iterative development and avoidance of irreversible decisions. Adaptive management relies of metrics and quantitative methods to integrate actual project performance to the management of projects.
Download in PDF formatFrustrated Developer's Syndrome
Frustrated developer's Syndrome (FDS) is a "disease" that can afflict corporate culture, particularly decision-making, efficiency, and productivity. FDS is a problem because frustrated project team members will not produce good projects.
Download in PDF formatEstimations in Project Management
Learn psychology of estimations in project management. Read about few simple remedies, how you can improve your estimations.
Download in PDF formatProject Management Using Event Chain Methodology
Any projects are affected by a large number of events (risks), which can significantly change the course of a project. These events may form groups of related events or event chains. The event chains methodology can contribute to reducing uncertainties in project scheduling and significant simplification of process of modeling, tracking, and analysis of project schedule.
Download in PDF formatQuantitative Risk Analysis with Microsoft Project
Quantitative Risk Analysis has become an important component of project management. Microsoft Project implements Qualitative Risk Analysis methodology. But what about quantitative analysis? Learn how to use Microsoft Project with third party tools to perform quantitative risk analysis.
Download in PDF formatMindManager and Risk Analysis
Learn how brainstorming tools, such as MindManager by MindJet, can be used in the process of decision and risk analysis.
Download in PDF formatProject Decision Analysis Process
Project management is the art of making right decision. Project managers are faced by huge array of choices. Should different supplier be used to improve the quality of a product? Should additional team member be brought in to improve the development performance? Learn how decision analysis process can be used on project management.
Download in PDF formatMaking Right Decisions in IT Project Management
Formalized decision analysis process helps IT project manager to make a right decision. Learn how to use decision analysis techniques to mitigate negative impact to psychological biases and select most effective project decision.
Download in PDF formatSoftware Project Management under Uncertainties
Managing of risk and uncertainties during the course of a project has become one of the priorities of the software project manager. Event chains methodology is a practical approach to managing software projects that contain multiple uncertainties.
Download in PDF formatQuantitative and Quantitative Risk Analysis
Learn how qualitative and quantitative risk analysis together can be help to improve project management process.
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