Success Driven Project Management:
Planning and Controlling cost, time, scope & risks
with the calculation of success probability trends
- This article is based in the paper presented at the 10th International Cost Engineering Council Word Congress (ICEC 2016).
- Full article available on Linkedin
For larger projects, there are lots of things that can change while the work of the project is being performed. The supply of money may grow or shrink. The demands of potential customers for, or users of, the product of the project may change. Advances in available technology may modify the requirements, making them more difficult or easier to accomplish. Talented human resources may depart from, or sign on to the project. Physical resources may become scarcer or more plentiful. Tools may become more powerful. These changes can occur at any moment, dictating variations to our plan for completing the project. If to continue to pursue the original plan, one will deliver either something less than we might have or nothing at all. This harsh reality, in turn, dictates that one must have a clear idea of where one is when these changes occur, what progress has been made and what, given the new reality, remains to be done. In other words, measuring progress against the original plan simply is not enough.
Success Driven Project Management (SDPM) is the Russian Project Management Methodology that integrates risk, cost, time and scope management. Project teams plan, execute and control analysing the trends of the probability of successfully meeting project targets. These targets may be set for scope, cost, time basing on project uncertainty and risk simulation. The use of systematic detailed planning and control improves the reliability of cost and time estimates.
The management by trends and money/time buffers built from the risk scenarios offers an integrated perspective of risk, time, scope and costs not available in other project management methodologies.
Authors: Vladmir Liberzon, PMP; Peter Mello, PMP, PMI-SP; Jefferson Guimarães, PMP; Edward Fern, PMP