Title: How Long Will It Take to Complete My Project? A Study in Probabilistics Using Monte Carlo Analysis
Even with our growing knowledge base of project management, delay and cost overrun continue to plague projects of all sizes, across multiple industries. Cost and Schedule Risk Assessment (CSRA), when completed at key times in the project lifecycle, improve the potential for project success and predictability by helping stakeholders identify and quantify the risks and opportunities. By applying Monte Carlo analysis to the project cost and schedule, project managers can provide investment decision makers with a realistic and quantified range of uncertainty around the budget estimates and completion dates. This can also provide the project team with a holistic view of the project’s risk profile for effective risk mitigation.
This presentation will provide an introduction to probabilistic risk analysis, share techniques that can be used in any project, in any industry, and share some examples of how this technique has been used to improve project decision making.
Chris DelGardo, PMP has over 25 years in management, including 19 years of project management experience and business process development. He has a BS in Management Information Systems from Park University, and an MBA with Project Management Concentration from LSU Shreveport.
Chris is currently an IT Project Manager for Weatherford International.
Chris’ project experience started small – managing a few internal software projects within Dell Computer. Later, he moved on to Waste Management, as the PM for WM’s North American logistics optimization project in Canada and the Midwest. When that project completed, he transitioned to the energy sector, where he consulted for major capital projects ranging from $10 million to $40+ billion across six continents.
Chris has conducted training and seminars for PMI chapters in Western Australia, Singapore, and Houston, and has conducted PMP Boot Camp courses for PMI Houston Chapter.
The Brazos Valley Project Managers (BVPM) group is a venue of PMI Houston. Our meetings are free & open to everyone and cover a wide range of topics such as leadership, communications, and organization techniques; beneficial across all industries. You do not need to be a member or a project manager.
Pizza, refreshments, and networking begin at 5:30PM.
The presentation will begin at 6:00PM