As experts in the field, we want to share our knowledge and expertise with the world through our blogs. In these posts, expect to see that we are more than a group of software developers. We have the relevant subject matter expertise in the realm of project, program, and portfolio management and product development.
RTConfidence, Inc. is composed of professional leaders, trainers, consultants, professors, and authors. Get to know our team and how we can help you hone your project management skills.
RTConfidence is launching a FREE working session for current and prospective Chrono™ users. Sign-up is required. Click here to register: https://us02web.zoom.us/meeting/register/tZ0td–opzgrEtSyW3-AfXVZtL_XX2QrCPv- Here are some of
In the Fifth Edition of PMI’s PMBOK (Project Management Body of Knowledge) Guide (© 2013 PMI®, Inc.) there is a good comparison (see Figure 11-13
Do you realize that there is only one (yes, just ONE) Valid Way to effectively manage Project Schedule Risk? This should not be a
You worked with your team to identify the tasks, carefully worked through dependencies, got thoughtful estimates from your most experienced people, built a well-formed schedule,
Here are the quick answers: When? Ideally, before and after kicking off projects with schedule commitments that are highly scrutinized (i.e., for most important
Ask yourself “Do I really know the likelihood (or percent confidence) of meeting my project schedule commitment(s)?” If your project is relatively complex, with
Just absorb it, it’s not much of a change! Everyone is on board, so be a team player! Trust me, I’ll have your back if it
A client reviewing the history of a troubled technology project portfolio asked, “Why are schedules always wrong? What challenges emerge between planning and implementation?” While
Humans are constantly estimating. We predict the future more than any other species. We estimate where our foot will land with our next step. We
Years ago, I was asked by my boss (the CEO) to help determine why our largest division was having difficulties executing on DoD (Department of
The 3 Key Project Management Tenets that Improve Team Performance The 6 Project Constraints “Rule of Thumb” for Establishing and Maintaining a “Balanced” Project
STRATEGIC PROJECT MANAGEMENT: “The formation and implementation of over-arching Project Management Guidelines and Initiatives taken by an Organization’s Management on behalf of Project Stakeholders, based
The RTConfidence Team just received official issuance of its first US Patent “Software Portfolio Management System and Method” which includes the application of our first
Part 1 of 2: Individual Task Risk Tolerance (Part 2 of 2 is on Overall Project Risk Limits)! I believe that almost any Project
Part 2 of 2: Overall Project Risk Limits (Part 1 of 2 is on Individual Task Risk Tolerance)! As mentioned in my original post
Participants in this session will learn how to identify, assess, and manage individual (i.e., task-level) and overall project risks then determine overall project risks. We
I recently received the following question about Chrono™, the new Project/Program/Portfolio Management tool released by my company, RTConfidence: “What are the benefits of this tool
If you, your employees, or your suppliers are using Microsoft Project and use another program or application to run SRA (Schedule Risk Analysis) Monte Carlo
Going back about thirty years when I was a relatively new Program Manager, I was given an interesting proposition by my manager – “We want
What would I (or you) be able to do if the IMS (Integrated Master Schedule) SRA (Schedule Risk Analysis) Model was always set up properly
If someone asks you “How long will it take for you to drive home from the grocery store?” you could probably give a very accurate
Some schedules represent credible tasks logically and can be used for tracking progress, and some are art projects that may be pleasing to the eye
Schedule Creation/Validation Checklists Most commercially available scheduling tools support creating what are called “well-formed schedules” in the trade. These are schedules that can predict project
Building a credible project schedule can be challenging, even for experienced professionals. This essay explains a process I’ve refined and used with success for almost
I’m a long-time advocate of effective risk management. I’ve done it, taught it, and written about it. That said, formal risk management as described in PMI’s PMBOK® Guide
Abstract Completing non-trivial projects on their originally promised date is such a rare occurrence that we often expect them to be late. Although there are
In freshman Physics, students learn not to report more precision in their answers than can be justified by the facts of the problem. Why are
I’ve been beaten up in the “project management” business for over 25 years – and I discovered that there was no good reason for it! I’ve worked on technology development projects my entire
Project Postmortems which delve into the Technical issues (e.g., estimation errors, scope omissions, validation or qualification test gaps, test methodology issues, development process gaps, omitted
Organizational Quality Systems cover many aspects of compliance. Many industries have established standards, and most companies establish their own. From a project life cycle standpoint,
Project scope performed by suppliers can very likely be the riskiest activity on the project. There is a good chance that if your organization conducts
There is a very good reason why PMs need to be good communicators – communication is vital to project success, especially on the more complex
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
I do not believe that good PMs should know everything. They should be experts in leading projects, and may also be experts in certain technical
I have yet to have seen an example of a violation of the six constraints rule-of-thumb – whereby a change to one project constraint (Scope,
Project plans should accurately comprehend project priorities, and these priorities should be central to any re-planning activities necessary after the project is kicked off. The
Whenever you are engaged in project planning you tend to follow the fundamental risk management process steps, whether you do so intentionally or in more
There is absolutely nothing wrong with making an assumption that fundamentally reduces project risk… provided that all the project stakeholders are aware of it, and
Obviously, a project postmortem will not improve the project that just ended, but it can certainly improve future projects within that organization, if conducted with
Parkinson’s Law 2 states that “Work expands so as to fill the time available for its completion.” So what does this imply? That we are
In some organizations, budget reserves and schedule buffers are taboo. I have heard countless arguments on both sides of this issue. I am an advocate
Some schedules represent credible tasks logically and can be used for tracking progress, and some are art projects that may be pleasing to the eye
What do executives really think of the risk matrix data? The data can be extremely useful if generated properly, but what is its real purpose?
Signing up to a schedule based on the project’s IMS critical path, without any buffer, is usually a losing proposition, especially if the project is
The risk matrix has become pretty much a staple within the project risk management family of tools and techniques, especially for the more complex and
A fundamental risk management concept to always keep in mind is the relationship between the project risk profile over the course of the project timeline
There are many potential causes of unsuccessful project execution which can plague a project team. If you know what they are and implement preventive measures
There are many potential causes of unsuccessful project execution which can plague a project team. If you know what they are and implement preventive measures
Most company executives strive to “do more with less” to boost the organization’s bottom line — when you are successful at this the company is
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
Our RTConfidence Blog pages contain a wealth of information provided by our Project Scientists. We focus on fulfilling Our Mission Statement that
“Every Enterprise has a leveled-Up Arsenal to Achieve Epic Business Results”
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