Join PMA planning experts presenting during the annual meeting.
(RISK-1822) Delay Principles Based on Completion Risk
Primary Author: Dr Gui Ponce de Leon PE PMA Consultants, LLC
Co-Author: Dr Vivek Puri Ph.D. PMA Consultants, LLC
Time/Location: SUN 1:30-2:30/Room 305
Where the approach to scheduling a project is deterministic, the critical path is deemed to be certain. Conventional delay principles flowing from this assumption include: 1) a delay off the critical path within total float does not impact completion, and 2) a delay on the critical path equates to a day-per-day delay in completion. A delay on the critical path could therefore be construed as reasonable evidence of potential breach of contract. When the project schedule is instead managed based on completion risk, the assumption underlying conventional delay principles no longer applies. Introduction of risk in project scheduling gives rise to emerging delay principles that better align with the concept of completion risk. This paper presents a realistic and practical framework to measure the likely impact of a delay based on completion risk and demonstrates the use of these principles using a case study.
(PS-1971) The Planning Fallacy and its Effect on Realistic Project Schedules
Primary Author: Mr Jeffrey Valdahl PMA Consultants LLC
Co-Author: Ms Shannon A. Katt PMA Consultants LLC
Time/Location: TUE 9:45-10:45/Room 301
“How long do you think that task will take?” It’s a question that is asked frequently during the course of a project, but is often answered with little or no factual basis. Project team members typically underestimate the time needed to complete a task they are responsible for. This tendency has been referred to as the “Planning Fallacy,” and it can have a dramatic effect on developing a realistic overall project schedule. This paper examines various causes of the Planning Fallacy, including optimism bias, lack of task unpacking, and short memory.
As a project manager or planner, it’s important to recognize when these psychological effects are impacting your project schedule. This paper uses examples from various projects to show where this challenging planning issue is likely to occur. Identifying where adjustments need to be made at both the task and overall project level is essential in developing a project schedule that is both achievable and reasonable.
Exhibitor Showcase Presentation
Reengage your team in planning: A NetPoint case study
Primary Author: Luis A. Terry Torres, PMP
Time/Location: SUN 2:45-3:45/Room 203
During the last couple of years my company invested a significant amount of money to implement the Earned Value Management approach. While this implementation was successful, the project controls department started to see that every day the project teams where relying more and more in the project controls team to develop schedules for proposals and projects. These schedules were being developed with none or very little input from the project teams. As consequence of this situation, these project schedules needed significant revisions just days before they were due to the client. To overcome this situation the project controls department relied on the utilization of less complicated tools, which can be used to facilitate planning sessions and allow the project teams to develop a sound approach for the execution of the work. NetPoint became a tool that not only was helpful to reengage the project teams with the planning process, but it also contributed to thinking of the project planning process in different ways. The challenges faced by the project controls department and how NetPoint contributed to overcome them are addressed in this presentation.
Visit us at booth #500 to learn more about NetPoint & GPM.
Conference Program Description
This is an excellent opportunity to network with your peers, earn CEUs/PDHs and attend the latest papers on cost, schedule and management. The papers presented in the technical program represent the best and most current tools and techniques used in industry today covering a wide range of programs and projects. There are over 100 hours of presentations to choose from over a four day period, organized in a variety of tracks such as: building information modeling; claims and dispute resolution; cost and schedule control; professional development; estimating; earned value management; global projects; IT/IM in project and cost management; owner issues; project management; planning and scheduling; decision and risk management; skills and knowledge of cost engineering; and total cost management.
06/28/2015 to 07/01/2015
MGM Grand – Las Vegas, NV