Contractors

Managing Estimate Uncertainty

Estimates by their nature are uncertain but can be readily managed with a suitable system. This video describes how any project manager can model estimate variables, improve scope definition and derive a suitable inherent contingency. Updates can be quickly made as new information is received (including project end cost forecasting during implementation). The system's visibility...

Is your risk management toolset efficient or wasteful?

Once an assessment of the efficiency of your risk process has been made (see the insight “Is your risk management process efficient or wasteful?”) the second element is to consider whether your risk toolset is efficient or wasteful. There are two aspects to consider – Inputs and Outputs. Inputs are straightforward. Risk management should be...

Is your risk management process efficient or wasteful?

Since the first standalone risk management standard (AS/NZS 4360 - 1996) there has been a significant growth in risk management as a specialisation. These “experts” have espoused a range of processes which, although mostly well intentioned, are often far from efficient. The result is a considerable waste in time and hence costs. Over the...

Organisational risks within the project cycle

In an earlier musing (Project risks – Black Swans or Brown Cygnets?) I had a diagram showing a project’s risk profile over its lifecycle. The sloping line represented the number of risks. At the start of the project, when planning has only just started there are a lot of unknowns and hence a large...