Trimming even the smallest amount of time off complex projects can lead to significant cost savings. Effective scope management is paramount to saving time and should be a well-used tool in any project manager’s arsenal.
Over the last 50 years, MPR Associates has worked on a plethora of large-scale projects across a wide range of industries – including work for the US Department of Energy (DOE). Our latest case study explores the benefits MPR have enjoyed by using Safran Risk to conduct their cost and schedule risk analysis.
It’s crucial that project risks are identified and communicated effectively in order to minimize their impact. Accurately communicating risk to stakeholders, who may not understand the subject as well as industry experts, is key to ensuring mitigation decisions can be made.
With a spike in demand for their cost and schedule risk analysis know-how, Prima Uno moved from using Oracle PRA to Safran Risk. Our latest case study explores how they’ve found using the tool's rich suite of capabilities.
Mitigation analysis is a massive part of the risk analysis process, and Safran Risk makes it easier and less time consuming to conduct. It’s a huge improvement over OPRA, and this blog will explore why.
Conveying complex risk data to stakeholders and the C-suite – and making the data compelling – is often a challenge for project managers. Thankfully, Safran Risk has tools to help achieve this.
Very few projects are ever completed in line with original plans and budgets. Unforeseen changes are inevitable in project management. But putting proper change control processes in place can drastically minimize their impact.
Setting a baseline is a crucial element of project management. Without a baseline, there's no way to measure performance or conduct an earned value analysis for your project.
A sound principle of project management is ensuring the baseline is set at the planning stage and not altered later – unless due authority is received from the project owner. A proper baseline process earns value and credibility for the project.
A sobering 9 out of 10 projects experience cost overrun, and experience tells us that schedule overrun is a common occurrence too.
To counter this, project professionals must ensure their project schedule is reliable, meets project requirements, and contains all necessary work.
What’s more, schedules should be built according to acknowledged best practices, such as the US Government Accountability Office’s Schedule Assessment Guide and the DCMA 14 Point Assessment. Regular health checks are another powerful tool in a project manager's arsenal, used worldwide by many businesses and governments to assess the credibility of the project schedule.
To that end, we’ve identified 12 key scheduling best practices. Does your schedule pass these tests?
Correlation is often crucial to the risk model. It helps analysts understand the often-complex relationships between events and the risks that can affect them. More than that, it plays an integral role in counteracting the effects of the Central Limit Theorem (CLT).
