How to Create a Good Quality P50 Risk-based Baseline Schedule

February 18, 2023

Any project is capable of generating a believable risk-based schedule baseline. Project confidence is higher when the team knows the target schedule is achievable. It is also cheaper and more economical. Quantification assesses the overall schedule risk of a project. The schedule baseline becomes risk-based because risk probability and consequence are measured. I espouse using a P50 Risk-based baseline as the middle-ground. However, other synchronized schedule baselines such as P40, P60, or higher are also possible.

Continue Reading →

Black Swan is a Remarkable Risk Management Concept

January 28, 2023

Unknown unknowns (black swans) might be in the room, or even an elephant, for all we know, but we cannot see them until circumstances make them visible. Once we see that the risk exists, we surmise that it no longer qualifies as a black swan event because we are now aware of the risk, and the element of surprise is no longer there. It is now the typical type of risk that you and many risk managers are already familiar with, the known unknowns.

Continue Reading →

Who can provide remote Schedule Management and Quality Assessment?

January 19, 2023

PM Solution Pro offers remote support in Schedule Management, Quality Assessments, Reviews, and Audits. We have successfully used P6 Professional and Deltek Acumen Fuse toolsets in supporting various clients and project organizations. Our team can guide your project organization in the development of your very own standard in-house Schedule Quality Metrics, making it possible to assess an entire project portfolio in a fraction of the time compared to manual means.

Continue Reading →

How to Estimate a Steam Power Plant Annual Operating Budget-Simple Approach

December 21, 2022

Suppose there is a choice between two production methods; the usual favored approach would be the one with the lowest total cost. However, it is not always the best choice. Therefore, presenting a straightforward approach to calculating the unit cost is essential. We can use it to facilitate the selection of the best alternatives with an optimized economic return. This book introduces the method of obtaining the material (or process) unit cost of a Steam Power Plant to calculate its annual operating budget and touches on the reliable estimation of operation, maintenance, and project works. I have designed each section to walk the new cost specialist or plant engineer every step of the way, leading to complete understanding.

Continue Reading →

Learn Risk Management Fundamentals in the book, Risk what are you? The Risk Manager’s Poem

December 2, 2022

This book is for management professionals, future professionals, and children of reading age, twelve and up! Today, we are proud and happy to publish an original 18-stanza rhyme poem in a fully illustrated book for future and present risk managers.

The pleasing element of a rhyming poem brings joy and knowledge to many. It is inspirational to hear words that rhyme, uplifting our being by imparting meaning using the song-like attributes of the verses. The command of a poem makes one remember, absorb and learn more.

Continue Reading →

Everyone sees World Events Based on their interest 

August 26, 2022

I remember very well what my father said forty-six years ago, while I was visiting his workplace as a young boy in the Governor’s Office, Province of Batangas, Philippines. He was the Provincial Administrator-in-charged of socio-political affairs at that time (1976).

My dad articulated that the statement is about goals, objectives, missions, and visions. Some are grander, and some are simpler. Instead of saying, “there’s no greater goal than a personal goal,” he chose the word “interest” to sum it up. Of course, as can be expected of most young people, what I heard went from one ear and out the other.

I only began to realize the wisdom of his statement years later.

Continue Reading →

Improving the Quality and Probability of Success of your Project Portfolios using Deltek Acumen Suite Fuse/Risk/360

May 14, 2022

I want to take this opportunity to let you know how to qualify your project schedule more comfortably without spending numerous hours and even days to make conclusions and recommendations.

Do you want to make your project schedule better, more reliable, achievable, predictable, and successful? Are you responsible for a group of management practitioners accountable for schedule quality, identifying risks, risk drivers, schedule drivers, and calculating contingencies? Are you faced with wasted time, analysis paralysis, growing threats of delay, stubborn contractors, vague contracts, changing scenarios, shifting baseline, and team misalignment? 

Well, I have good news for you! In partnership with Deltek, PM Solution Pro brings to your attention, Acumen Suite of Applications (Fuse/Risk/360). 

Continue Reading →

Happy Easter 2022 Everyone! A new life is before us!

April 14, 2022

Easter, also called Resurrection Day and Pascha, is a Christian holiday celebrating Jesus Christ returning from the dead. Christians believe that it is the holiest day in the year. Some people who are not Christians celebrate it also as a cultural holiday.

The New Testament states that on the Sunday after Jesus was killed, his body was no longer in the tomb where he was laid. Later, Jesus is said to have appeared to over 500 people and preached to them. The New Testament teaches that the resurrection of Jesus is what Christianity is based on.

Continue Reading →

Integrated Schedules, Must Have in Program Portfolio Management

March 12, 2022

Program management is the process of managing several related projects typically to enhance an organization’s outlook, better its industry reputation, to improve overall productivity and to avail of long-term opportunities. I would like to re-share with you today one of the approaches I’ve formulated and used in achieving Program Schedule Integration in the not too distant past.

Management of interdependent multiple projects calls for an integrated approach. Interdependent in a sense that some activities of one project cannot start or finish without the predecessor project activities from another project or supporting group started or completed. For small to medium size program portfolio, effectively managing the overall and overarching schedule can still be quite challenging for Project Managers.

Continue Reading →

Risk Management Reflection on the Subject of Superstorms and Mega-Earthquakes

January 29, 2022

A project manager (or any other manager) has to understand the fundamental and mandatory integrative approach to risk management processes and knowledge areas. The long years of national experience on natural disasters are enough to convince any logical person that disaster management is also about risk management.

Looking towards the future knowing that there is a next big one is the start. Mitigating threat or enhancing opportunity consequences are main areas of control in cases where a risk practitioner has no influence on probabilities.

Underlining the connections between primary risks, secondary risks, residual risks, issues, and problems helps people realize the importance of cause and effect analysis in successfully determining the root causes and potential consequences of any event.

Continue Reading →