EB002
How to Create a Good Quality P50 Risk-based Baseline Schedule
ISBN-13: 978-1508526032 (Create Space)
ISBN-10: 1508526036 (Create Space)
ISBN 978-0-9947608-1-4 (Canada)
Project Managers know what they want. They want achievable schedule that delivers timely execution. For one reason or another, many have tried and many have failed. The most pressing root cause however is quite simple. One of the major reasons of schedule overran is varying certainties of each schedule activity. The greater the difference between driving predecessor and driven successor activities, the greater the impact to the end date. This problem is underscored in this book. The author recommends the creation of a P50 solution using the Primavera and OPRA tools available.
With cost and time burdens greater than ever before in a project set up, projects have to be creative and find workable ways to increase the probability of successfully completing target dates and duration. Even schedules put together based on years know-how, years of experience, and best practice cannot always accurately predict the future.
There is no absolute guarantee to the behavior of a present day projects. Schedule certainty is in doubt every time a project ignores schedule quality. In view of this, a probability estimate that includes schedule quality, and align certainty in the equation deserves praise. Quantified schedule risks without respect for quality compounds errors over time to give management a false assessment of the outcome.
Creating a Good Quality P50 Risk-based Baseline Schedule is a relatively new approach to developing project schedule execution baseline. Adopting the approach needs added understanding of the rationale surrounding its use. The rationale traces the influence quality, identified risk, and estimate uncertainty on the schedule. An adjustment in insight is needed for the reader to appreciate how varying activity certainties adversely affects the time objectives. The book touches on schedule alignment, integration, risk, achievability and the consequence of ignoring them.
The step-by-step instructions on how to develop a P50 Risk-based Baseline Schedule is detailed in this book. The concept is clear, so why not try it in your next project and let us know what happened. The book is for risk and project management practitioners who want to try something new and reasonable.