Project Decision and Risk Analysis

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Project Risk Management and Decision Analysis: Articles and White Papers 

Software Project Management under Uncertainties

Conclusions

The proposed event chains methodology is applicable to different time-related business or technological processes. The methodology can be very effective in software project management, where it can significantly simplify a process with multiple uncertainties. 

Event chains methodology includes the following main principles:

1. A task in most real projects is not a continuous uniform process. It is affected by the external events, which transform task from one state to another.

2. The events can cause other events, which will create the event chains. These event chains will significantly affect the course of the project.

3. The identification of the critical chain of events makes it possible to mitigate their negative affects. Risk list of the project can be generated as a result of sensitivity analysis.

4. The tracking of the task progress and the continuous comparison of actual progress with estimates ensures the project schedule is calculated based on updated information.

5. The analysis of historical data related to current and past similar project performance is necessary to obtain information about probabilities and outcome of events.

6. The event chains methodology simplifies rescheduling, conditional and probabilistic branching, analysis of project with synergists and circular dependencies, and resource allocation.

Event chains methodology is a practical approach to scheduling software projects that contain multiple uncertainties. A process that utilizes this methodology can be easily used in different projects, regardless size and complexity, using off-the-shelf software tools.


 

Step 4: Monitoring the course of a project

References

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