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How to Use a Risk Matrix in Project Management

Within the perform qualitative risk assessment process, each identified risk’s probability and impact score is mapped within the risk matrix tool to help the Project Manager and team better understand how certain risks may impact the project. The risk matrix tool communicates the overall project risks and supplies information, increasing the effectiveness of a risk

5 Important Considerations for Project Bidding

Project Bidding?! What does it take to successfully bid on or embark on a capital project, whether you are a contractor or an owner? Check this post for more details on project bidding considerations. The post 5 Important Considerations for Project Bidding appeared first on Project Control Academy.

inTakt

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Agile Beyond IT: Lean Thinking

Agile is a mindset described by a set of values and principles.  It traces its roots to Lean, which is also foundational to other modern management theories.  Lean’s primary focus is delivering value quickly and eliminating waste.   read more

The Conundrum of Three Point Estimation and PERT

Is an estimate based on multiple points more accurate than a single estimate? If we go with conventional wisdom then it certainly would seem so. A mean of more than one estimate is likely to give us better result. In project management, there is a three-point estimation technique. It calculates the expected duration based on