Who owns the float has been a predominant discussion within project controls for decades. And it still is. However, to correctly address this question, the difference between Total Float and Time Contingency (or a time buffer) needs to be fully understood. We hope this blog post will help in clarifying the differences.Read more
The Primaned team has written quite some blog posts about Oracle Prime Projects over the last couple of months. We did not hide that we thought it might very well be the PM tool of the future. Our enthusiasm is based on the comprehensiveness of the tool and its alignment with our vision on integrated project controls. It is so much more than a scheduling engine. When introducing the tool to clients and prospects, the reception is very good and our enthusiasm seems to be shared. However, mainly because of the nature of our client base, there is one thing they all want to know and ask us time and again.
How good is its scheduling compared to my good old Primavera P6?Read more
Now we’ve learned the basics of Earned Value Management calculations (see this blog), it’s time to introduce a new metric to define our project’s health. As you’ve noticed all previous metrics and parameters were either percental (CPI, SPI, TCPI) or monetary/unitary (CV, SV). But what does a schedule variance of € 10.000 tell us? First, a delay expressed in monetary units is somewhat strange. Second, we will show later in this blog post that this metric is subject to a major fallacy. It is to be replaced with a more comprehensive one. Time for a change.Read more
KEY BUSINESS BENEFITS• Complete cloud based solution backed by the power of Oracle Corporation • Unite project teams and stakeholders through collaboration and strong feedback methods • Reduce the risk of cost and schedule overruns • Optimize management of all resources for maximum ROI • Monitor and visualize project performance vs. plan • Confidently make and keep project commitment
Primavera Risk AnalysisEvery project has risks. The organizations that succeed are the ones that plan for those risks— anticipating, mitigating, and providing response and contingency plans for negative events that may or may not occur. Oracle’s Primavera Risk Analysis software provides the tools for doing just this, enabling companies to model risks and analyze the cost and schedule impacts of mitigating them—and, in the process, taking much of the uncertainty out of project and portfolio management. By integrating directly with project schedules as well as cost estimates to model risks and uncertainty, Primavera Risk Analysis provides a full-lifecycle cost and schedule risk analytics solution for the Primavera project portfolio management applications and Microsoft Project. Providing quick and easy techniques for determining contingency and risk response plans as well as a comprehensive means of reporting project confidence levels, Primavera Risk Analysis risk-loads projects through risk registers and risk templates before using Monte Carlo simulation to analyze them. It then provides a variety of reports, such as risk histograms, tornados, and scatter plots, that enable users to easily identify risk drivers before (optionally) publishing the resulting risk-adjusted schedules back into the schedule.
KEY BUSINESS BENEFITS• Integrate directly with project schedules and costs • Provide a comprehensive means of reporting project confidence levels • Produce risk analysis reports in a variety of formats • Provide techniques for determining contingency and risk response plans • Confidently make and keep project commitments
There are numerous reasons why a schedule should meet certain quality criteria. Have a look at our blogpost “Schedule Quality – Technical Requirements” for the details. One of the more widely spread tests to assess the (technical) quality of a schedule is the DCMA 14-Point Schedule Assessment.Read more
Are you interested in reducing waste as a result of better planning? How about creating a continuous work flow which helps you meet your project’s deadline and reduces your waste? It is neither rocket science nor magic, achieving these goals is simpler than you think. In fact, whenever I explain to managers about takt time planning, I always feel their confusion, as if they are still waiting to hear something new that ‘’they do not know’’. Hence, the concept is really familiar to us, however many lack a systematic approach to implement it.Read more
Critical Path Method (CPM) schedules have been ruling the world of projects for a long time. Considering the benefits of CPM, that is quite understandable, isn’t it?
They provide the bigger picture of the project and allow for scenario and what-if-analyses, risk analyses, delay analyses and critical path analyses. They are useful for assessing the resource needs, they provide the team with due dates for ordering long lead items and they allow to include contingencies for risks.Read more
Do you feel your budgeting process has failed from the start of your project? Have you learned that you overbudgeted or underbudgeted the activities in your performance measurement baseline (PMB)? Are you willing to take your Earned Value Analysis (EVA) to the next level? Then this is a blog post for you.Read more
Duration and Calendar Duration, Time and Units/Time explained, P6 basic.
Time is of the essence. Both in project control and in our personal lives. As we’ve been dealing with time since childhood, you would assume we have learned to communicate on it effectively and unambiguously. But when someone says: “this activity is going to take 48 hours” you might take that as 2 days while he might’ve meant it will take two persons 3 8-hour-working days to complete.Read more