RTConfidence, Inc.

What is the Limit to Project Risk Absorption?

Part 1 of 2: Individual Task Risk Tolerance (Part 2 of 2 is on Overall Project Risk Limits)!   I believe that almost any Project Plan can be “balanced” if you ignore the Risks. Think about it – you can balance almost any Project’s Quality, Scope, Schedule, Resources and Costs if you absorb an unlimited amount… Continue reading What is the Limit to Project Risk Absorption?

Enable Success in Your Projects by Embracing Project Risk Management!

  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 will review relevant Tools & Techniques and provide examples of exercises.   The primary learning objectives are: Knowing how to properly Plan, Identity, Assess, Respond, and Control individual task… Continue reading Enable Success in Your Projects by Embracing Project Risk Management!

Why Chrono?

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 and why is it different from its competitors?” Here was my reply:   “Most significantly, this tool solves some major problems in the Project/Program/Portfolio Management space. Today, the best tools… Continue reading Why Chrono?

Level-up Microsoft Project!

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 simulations, you should down-load and try the Chrono™ add-in – a revolutionary offering from RTConfidence.com.  You will not regret it – it is not only easier to use than any… Continue reading Level-up Microsoft Project!

“Solving the Impossible” – Find out how!

Baseline SRA Output for a 70% Confidence in meeting final deliveries by 5/31/1996 Going back about thirty years when I was a relatively new Program Manager, I was given an interesting proposition by my manager – “We want you to take on a new project that the executive team knows will be impossible to execute… Continue reading “Solving the Impossible” – Find out how!

The things I could do if my SRA Monte Carlo Simulation was faster!

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 and the Monte Carlo Simulation only took a few seconds to both compute results and provide all the graphic outputs (e.g., the Probability Distribution charts for every task and milestone,… Continue reading The things I could do if my SRA Monte Carlo Simulation was faster!

Are your Projects employing “Best Practices”?

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 or by-passed design rules, flawed analyses, etc.) are relatively easy to accept and implement – many of the necessary systemic changes are developed and implemented as the issues come up.… Continue reading Are your Projects employing “Best Practices”?

12. Project Postmortems close the loop on Holistic Risk Management.

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 integrity.  Most organizations tend to want the team to wrap up the project with a retrospective assessment of what caused the good and poor outcomes.  The easiest (i.e., most uncontroversial)… Continue reading 12. Project Postmortems close the loop on Holistic Risk Management.

4. Project Risk versus the Cost of Change.

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 and the cost of change profile over that same timeline.  Cost, in the context of this discussion could be any combination of Project Schedule, Cost or Product Quality/Technical Capability that… Continue reading 4. Project Risk versus the Cost of Change.

1. “Doing more with less” by managing risks in a holistic way.

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 more competitive, and that typically leads to improved profitability.  I like the way that Taylor Clarke (2015) articulates this notion: “Amid increasing competitive pressures, many organizations are looking to do… Continue reading 1. “Doing more with less” by managing risks in a holistic way.