Do you realize that there is only one (yes, just ONE) Valid Way to effectively manage Project Schedule Risk?
This should not be a surprise to anyone up the management ranks in organizations that conduct complex/risky product development projects/programs and profess to practice sound Project Management practices.
Every certified PMP (Project Management Professional) should know this, for the PMBOK® (Project Management Body of Knowledge) Guide promotes it, and the test typically includes one or more questions on it.
It is called SRA (Schedule Risk Analysis) and uses Monte Carlo simulation technology.
The only alternative is “expert judgement” – basically, guessing.
Do you know why people/organizations do not practice this “Best Practice”?
They think it’s too difficult to understand.
They think it’s too Complex and/or too Expensive to employ (they believe that only Aerospace and Defense projects can afford employing it).
They think it’s too Time-Consuming.
Here is what they may not know:
There is a brand-new Project Management tool called Chrono™ now available and it removes all the above excuses.
You can go to RTConfidence.com and download a free 1-month trial today. It is basically an add-in to Microsoft Project™.
Get the book “Achieving Epic Business Results with Strategic Project Management” by Michael M. Bissonette!