This new installment in Doug Hubbard’s successful “How to Measure Anything” series, will reveal how quantitative methods, using prepared spreadsheet templates, can be applied to even the most difficult measurement problems in project management. Douglas Hubbard will describe how to use his methods to measure any intangible, think of risk like an actuary, and look at project management decisions in a quantitative way that is proven to improve decision-making performance.
The material is designed for project managers and any analyst or decision maker responsible for creating, reviewing, or acting on business cases or performance metrics for projects. The session consists of core topics and optional topics as follows.
Core Topics – The following topics are included in the standard version of the seminar (the first 1.5 days of the 2-day event).
- Understanding what’s wrong with current PM “Measurements” like risk matrices
- Thinking about project measurements and project risk more like a scientist and actuary
- Approving and prioritizing projects
- Building a Monte Carlo Simulation of a project with Excel
- Knowing what to measure based on the Value of Information calculations
- Modeling and measuring the risk of project failure
- Assessing the true cost of scope creep
- Assessing team performance and project “intangibles”
- Modeling and measuring resource risk such as turnover, key person risk, etc.
- Conducting measurements before, during and after a project using prepared Excel spreadsheets
- Challenges, Solutions, Next Steps Workshop (see below)
These topics will be put to practice in a final Challenges/Solutions/Next Steps Workshop (CSN). The objective of this workshop is to help participants identify opportunities to apply the methods they learned to specific project management problems identified by you. The workshop will identify the appropriate methods for the problems and discuss how to get started on solving them. This module allows participants to see the practical applications of what they learned.
Optional Topics – Choose any one of these half-day sessions or add a third day to the event to cover all topics.
- Calibration Training: HDR will teach the techniques behind subjectively assessing the probability of uncertain events and the ranges of uncertain quantities. This is an essential skill for anyone who needs to consider chance in decisions. Participants will see their skills measurably improve during the training with a series of “calibration exams.” Participants will also learn some of the techniques involved in training others to be calibrated.
- More Advanced Project Measurement Topics: Participants will learn additional methods for more advanced project measurement topics. These include statistical methods for reducing expert inconsistency, conducting controlled experiments to measure the benefits of projects and to assess their risks.
- Additional time for Challenges, Solutions, Next Step workshop: Depending on how complex your problem and how in-depth you want the discussion to be, you may want to allow more time for the CSN workshop.
Optional Customization – If you need content developed specifically for your industry or your firm, contact us to estimate a customization effort.