Key Chrono Take-Aways!

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 an aggressive completion date (i.e., is risky), and the schedule is based on single-point task duration estimates, your likelihood of meeting that date may be close to nil – or, in all likelihood, nowhere near even a 50% confidence level (which is our usual assumption).  Thus, it might be wise to make changes to your plan before starting the project to significantly improve that likelihood.

The next questions are “How do I know the risk level of my current project plan, what are my options to improve it, and how much change is enough to indeed succeed?”  You might not believe that there is a valid/proven approach to figure this out, but there is – it is called performing an SRA (Schedule Risk Analysis) and adjusting the plan to meet a >50% commitment goal.

SRAs are typically difficult to perform, costly, and time-consuming.  RTConfidence decided to change this by developing a cost-effective, user-friendly tool that anyone with a desktop installed MS Project® license can now afford and use – and it even makes MS Project® easier to use.  So easy that RTConfidence agrees to provide you and your organization with FREE on-line Chrono™ training with your license(s).

Let’s check out what Chrono™ provides to significantly “level-up” your use of MS Project®, and ensure more informed decision-making about project milestones throughout the Project Life Cycle:

1. • Validates your IMS (Integrated Master Schedule) via the “Chrono™ Wizard”
     • Finds Structural Issues Automatically
     • Guides Users on How to Fix the Issues
     • Sets up IMS for Performing Fast SRAs

• • • • Enables Easy Inputting of 3-Point Estimates on Risky Tasks
      • Fastest SRA Simulation Speeds – which means Very Little Waiting!
    • Sets up IMS for Performing Automated ES (Earned Schedule)
    • Facilitates Conversion of Imported IMSs to Chrono™-Validated IMSs

1. • Performs the DoD’s “14-Point Metrics” Evaluation (and provides a Checklist report)

1. • Enables Users to Establish 2 Baseline Project Plans (Target to Work to, and Goal to Commit to)
     • A Commitment Confidence Baseline at “% Confidence” of Choice
     • A “Target” Nominal (or Critical Path) Baseline for the Team to Work to

1. • Enables Users to Easily Update the Baselined IMS – Producing Trends/Performance History
     • A “Project Progress Update Wizard” which:
       • Auto-calculates Task “% Complete” from “Remaining Duration”
       • Enables Previewing Results Prior to Publishing Updates

• • • • Supports Post-Preview Changes on Future IMS Effort

• • • • Supports Re-Baselining (Retaining the Tasks’ % Complete to-Date)

1. • Provides Automated and Secure Browser Output Graphics, e.g.:
     • SRA Probability Distribution Charts for Every IMS Task and Milestone
     • Distribution Trend Charts – Great KPIs (Key Performance Indicators)
     • ES Output Metrics and their Trends:
       • SPIs (Schedule Performance Indices)
       • Work Efficiencies to-Date and corresponding Projected Schedule Outcomes
     • Tornado Chart – ID’s Greatest Risks and Opportunities (no Searching)
     • Merge Bias Chart – ID’s and Quantifies the Effects of Task Merges

1. • Provides Browser Viewing of IMS Gantt Charts/Data – without MS Project^® or Chrono™
     • Commitment Gantt Chart
     • “Target”/Nominal Gantt Chart
     • 3 Other Reference Gantt Charts

1. • User can Authorize Viewing of Browser Outputs to Others without Licenses
     • Via Assigning Viewers (i.e., their e-mail addresses) in Chrono™ Defaults

Bottom line:  Chrono™ provides more than “the date” to share with sponsors and stakeholders.  The milestone completion prediction cumulative probability graph helps support more informed decision-making about project milestones.  And the entirety of Chrono™ enables the type of proactive project risk management (on a continuous basis) that greatly enhances project/portfolio stakeholder success.

Get the book “Achieving Epic Business Results with Strategic Project Management” by Michael M. Bissonette!