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sensitivity

Bottom-up project control: Setting action thresholds using schedule risk analysis

Submitted by Mario Vanhoucke on Fri, 12/30/2011 - 15:34

The interest in the sensitivity of project activities from both academics and practitioners lies in the need to focus a project manager’s attention on those activities that influence the (time and cost) performance of the project. When management has a certain indication of the potential impact of the various activities on the project objective, a better management focus and a more accurate response during project control should positively contribute to the overall performance of the project.

Schedule Risk Analysis: How to measure your baseline schedule’s sensitivity?

Schedule Risk Analysis (SRA) is a simple yet effective technique to connect the risk information of project activities to the baseline schedule, in order to provide sensitivity information of individual project activities to assess the potential impact of uncertainty on the final project duration and cost.

Since estimates about activity time and cost are predictions for the future and human beings often tend to be overly optimistic or, on the contrary, often add some reserve safety to protect themselves against unexpected events, knowledge about the potential impact of these estimation errors on the project objective is a key add-on to the construction of a project’s baseline schedule.

PM Knowledge Center

sensitivity

Bottom-up project control: Setting action thresholds using schedule risk analysis

Schedule Risk Analysis: How to measure your baseline schedule’s sensitivity?