Forecasting project schedule and cost completion can be viewed as a mysterious art form. Successful forecasting requires first-hand knowledge of project scope, technical barriers, full awareness of staffing requirements, ability to see around corners, and solve problems before they become barriers to success.
Project and Portfolio risk management is an often overlooked component of the forecasting process. Risk is sometimes viewed as overly complex, contributing to a culture of avoiding or overlooking risk management.
In this session we will discuss:
1. Why companies avoid risk analysis and the consequences
2. Creating simple ways for resources to contribute to the overall risk picture
3. Using the right tools to process risk information
4. Concisely reporting risk hot spots
5. Actions to take based on risk reporting
During this session, Tom Polen will demonstrate how to counteract and avoid frequently cited objections to proper risk analysis, while illustrating methods for teams to participate in risk-based forecasting process with minimal time investment.
With realistic project plans, for which each project risk has been accounted for, individual and portfolio forecasts become more achievable. This in turn, fosters confidence in execution that is impossible to fake. When a team knows their plan, threats, opportunities, and acceleration strategies, they can predict their own destiny and contribute to overall business’ success.
PMI Talent Triangle: Technical Project Management