Project Estimation Best Practices in a Multi-Project Matrix Environment with Bradley Malone
What You Will Learn
Upon completion of this training, learners will be able to:
- Describe the different types of estimates and estimating processes and use a variety of tools to determine and track estimates.
- Apply the use of a phased or gated project life cycle in the continual refinement of estimates.
- Collaboratively share estimating information within the organization and continually update the resource and project forecasts.
Description
Resource estimation in a multiple-project, shared-resource matrix environment must be a collaborative effort among resource managers, project managers, and portfolio managers. Most organizations rarely have these roles work together in the formation, application, tracking, and correlation of resource and project estimates. They also rarely collaborate in developing the tools to be used—and thus the tool suite is designed in a silo-based approach with a specific purpose in mind: portfolio management system, resource management system, project management life cycle, and project schedules. This training will discuss the knowledge that must be shared for estimation to become more accurate and for critical resources to be used more effectively.
AGENDA
-
- Definitions/Purpose
- Distinguishing uniqueness and progressive elaboration and their impacts
- Prioritizing the project elements: Scope, quality, time, cost, risk
- Understanding variance versus change
- Organizational Context/Impacts
- Organization structure
- Portfolio structure
- Governance/portfolio/stage gate
- Resource structure
- Stage gate or phase structure
- Deliverables/milestones/constraints per phase
- Organizational Roles/Impacts
- Resource forecasting/allocation/assignment
- Estimating Concepts/Accuracy Guidelines
- Effort/duration
- Accuracy/precision
- Targets with variance thresholds
- Progressive refinement
- Risk tolerance
- Assumptions/Constraints/Complexity Drivers
- Definitions/interrelationships/impacts
- Assumptions—real-life examples
- Use of/approval of/ramifications
- Constraints—real-life examples
- Use of/approval of/ramifications
- Complexity drivers
- Definition/use of/determination of estimation questions/categories
- Definitions/Purpose
-
- Estimating Methodologies/Tools
- Parametric/analogy/bottom-up
- Question repository—by stage/deliverable
- Scheduling development, assignment, and time tracking
- Closed loop analysis
- Risk Management Consequences
- Risk register
- Risk mitigation strategies/effort/duration allocation
- Risk contingency reserves—for both risk events and anticipated scope changes
- Schedule and Cost Baselines
- By stage based on gate reviews
- Estimating Methodologies/Tools
PDU Allocation Table
| Ways of Working | Power Skills | Business Acumen | Total | |
|---|---|---|---|---|
| CAPM® / PMI-CP™ / PMP® / PgMP® | 11 | 0 | 3 | 14.00 |
| PMI-ACP® / Agile* | 0 | 0 | 3 | 3.00 |
| PMI-SP® | 2 | 0 | 3 | 5.00 |
| PMI-RMP® | 2 | 0 | 3 | 5.00 |
| PfMP® | 11 | 0 | 3 | 14.00 |
| PMI-PBA® | 2 | 0 | 3 | 5.00 |
 |  |  |  |
Instructor(s)
Bradley Malone PMP
Bradley A. Malone, president of Twin Star Consulting Company, a project management and corporate transformation consulting company, has managed numerous large hardware, software development, and integration projects. He has directed many project management process implementation, and improvement efforts for major corporations. He develops and instructs training courses in basic and advanced project management skills, team building, and facilitation skills. He leads project management audit teams for commercial and government clients, and consults with a wide variety of customers on project and quality management implementation issues. Mr. Malone holds the Project Management Professional (PMP)® certification from Project Management Institute and is a certified Master Practitioner of Neuro-Linguistic Programming[tm].