SAB9#73_RISK_RESERVE

SUSY BOTELLO
Mind Map by SUSY BOTELLO, updated more than 1 year ago
SUSY BOTELLO
Created by SUSY BOTELLO about 4 years ago
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Mind Map on SAB9#73_RISK_RESERVE, created by SUSY BOTELLO on 23/02/2016.

Resource summary

SAB9#73_RISK_RESERVE
1 EARN VALUE MANAGEMENT
1.1 Here’s where you measure how your project is doing compared to the plan.
2 TO-COMPLETE PERFORMANCE INDEX (TCPI)
2.1 Is a calculation that you can use to help you figure out how well your project needs to perform in the future in order to stay on budget.
3 PERFORMANCE REVIEWS
3.1 Reviews are meetings where the project team reviews performance data to examine the variance between actual performance and the baseline.
4 FORECASTING
4.1 Use the information you have about the project right now to predict how close it will come to its goals if it keeps going the way it has been.
5 PROJECT MANAGEMENT SOFTWARE
5.1 You can use software packages to track your budget and make it easier to know where you might run into trouble.
6 RESERVE ANALYSIS
6.1 Throughout your project, you are looking at how you are spending versus the amount of reserve you’ve budgeted.
6.2 CONTINGENCY RESERVES
6.2.1 Are used for known risks and answer cost
6.3 MANAGEMENT RESERVES
6.3.1 A lump sum management reserve is used to accomodate unknown or unidentified risks. This is asigned by the sponsor.
7 DETERMINING RESOURCE COST RATES
7.1 Whe the Project includes plans to outsource pieces of work, the estimate cost and plan procurement management process impact each other and require iterations as planning progresses. Planning is iterative.
8 COST OF QUALITY
8.1 The cost of work added to the Project to accommodate quality efforts.
9 GROUP DECISION MAKING
9.1 Involving team members in estimating cost improves accuracy because they are the ones most likely to understand what's involved in the effort.
10 PROGRESS REPORTING
10.1 The PM can use information about Project progress to help control the Schedule and costs and to assess whether the Project is on track through earned value measurement.
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