The Risk Manager’s Poem (Children’s Book for Risk Managers)

I have always wanted to write about risk-based management principles in a poetic form. The uncanny characteristic of a poem to send the intended message with amazing clarity catches our senses so that we suddenly become more receptive. We listen more and even unconsciously let down our guard. Our biases disappear to consider the intended message.

Today, I am happy to share some segments of that original 18-stanza rhyme poem of (8-6-8-6 metric). The poem wants to present the fundamental concepts of risk in simple terms that even children can understand.

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What’s your pet EAC formula?

Project forecasting provides useful insights on the final cost. As such, along the way, as you periodically progress the project, you’ll want to know and re-assess the Estimate at Completion. It gives all a glimpse of the possible outcome that boils down to the project’s probability of a successful outcome or failure. I know of no singular formula to calculate EAC because there were several of them.

Being a risk manager himself/herself, a project management professional’s task is to improve the project’s predictability, enabling the project to make an accurate forecast whenever needed. In this, high quality inputs, recording vital information, data monitoring, administrative controls, and analysis are critical to achieve a successful forecast from which informed decision can emanate. Project cost projection (EAC) has to be based more on facts than assumptions to be useful! One must avoid the temptation of even thinking that forecasting as just a good guess, a gut feel, and/or a number exercise!

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What about SCHEDULE DANGLERS?

Open ends are great indicators of missing scope/s, incomplete and/or missing planning inputs. The solution is to tie all valid network activities in the right sequence, according to the approved project execution plan and path of construction.
A good schedule is a well-tied schedule and a well-tied schedule signifies complete scope.
Source: Frago, R. (2015/2017).Plan to Schedule, Schedule to Plan.ISBN 978-0-9947608-2-1.Canada.

A recent query from a colleague inspired me to write this short article on the subject of danglers, i.e. schedule danglers. I hope my humble insights will be useful.

Open start danglers are activities where the only predecessor is either Finish-to-Finish or Start-to-Finish, resulting in an open start to the activity. They are also known as “dangling activities.”

The number of activities with open start (danglers) should be zero.

The project scheduler should use Start-to-Start and Start-to-Finish links sparingly. Tie each activity end completely and properly to avoid danglers.

Read the full article by clicking the hyperlinked button below.

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Effective P6 Administration by Improving Primavera Security through Correct Management of the Responsible Manager Code (RMC)

Project’s request to restrict access of other Users to their project schedules & portfolios seemed to have failed. Unauthorized access remains a problem. Contractors working concurrently in the same database were able to sometime see the client’s schedule and modified certain critical attributes despite the security protocol being enforced. Worst of all, one schedule was completely deleted by someone and have to be recovered from the back-end by the Database Administrator through the existing back-up and recovery protocol.

Dorothy was checking Marco’s security access because he couldn’t add resources and found that all his projects have the Responsible Manager’s Code set to the Contractor’s OBS code. She figured that Marco might have used the contractor’s original schedule as a starting project file in developing his project schedule.

Back in June 2010, Primavera User John and Mark had put together a schedule that sat on the back burner while the Project team worked on other priorities. When it came time to set the baseline, John and Mark decided to do a quick check to make sure nothing had changed. Mark hit the F9 button and about 80% of the activities moved to the right. The dates moved by 4 to 20 days.

The two of them checked the calendar they were using but they were fine. The Primavera database Administrator checked who else was using the calendar and the schedule and found that only John and Mark were given direct access to this schedule.

John now went back to the schedule, changed some lags and logics trying to correct the schedule discrepancies. The effort took more than a day to complete, time which the project really do not have. What has gone wrong?

Find out what happened. Read the full article by clicking the hyperlinked button below.

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Tips to Effective Project Schedule Updates Part 3

Client feedbacks must be clear, with enough details yet to the point. This gives contractor their fair chance. The client expect the same from
the contractor. All feedbacks must have a tracking mechanism in place. Every schedule must have a benchmarked minimum schedule quality so it remains reliable.

Losing the quality essence of the schedule means the increased possibility of losing stakeholder’s confidence. The project has to avoid such situation from ever happening.

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SCHEDULE QUANTITATIVE RISK ANALYSIS (TRADITIONAL METHOD)

SCHEDULE QUANTITATIVE RISK ANALYSIS (TRADITIONAL METHOD) ISBN: 978-0-9947608-3-8 (Canada) by RUFRAN C. FRAGO, P. ENG., PMP, CCP, PMI-RMP The book “Schedule…

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PM Solution Pro Business Introduction

We utilize unique best fit-for-purpose tools and approaches to successfully meet key objectives. We help clients manage risks, leveraging on the fact that every decision made is risk-based. To date, we’ve partnered/affiliated with Deltek, ARES/PRISM, Corel, Doodly, and Renderforest. A sister business creative trademark KATHAKO was launched last January 2019.

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FREE WHITE PAPER NO.6 : Ten Cardinal Rules to Good Schedule Baseline Management

A project that does not have a clear understanding on how to manage schedule baselines cannot expect to manage time…

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