Most plans that we see lack the basics. They don't include all tasks, time estimates by the task owner, complete dependency linkages, and they ignore non-engineering parts of the project.

Some project leaders have a solid plan in place. These are usually seasoned project managers, people who understand that the plan is a tool, not just something to satisfy a check mark on an objective.

When the basics are solid and the project is complex, a project simulation tool can tell you things about the project that you won't see by staring at bars and networks. Most are based on statistical methods and Monte Carlo simulations, but their improved interfaces have brought easier use so non-statisticians can manage them.

Vendors & Links

Risk+ works within Microsoft Project and provides probabilistic analysis of both dates and investments. This site also has a collection of papers providing in-depth information on advanced analysis of projects.

Palisade software offers @Risk, a complete analysis package and a wealth of application information. They also offer a free trial version. [more info]

Pertmaster offers what they describe as a more 'holistic' solution to analysis. They are also a partner of Mindjet to bring visualization to the project analysis. [more info]

Some products such as Risktrak by Risk Services & Technology are offered as both a standalone product and as part of a services solution. [more info]

Where to Go Next

These tools have a notable learning curve. We recommend downloading a trial version and running it against a known project. Nothing will convince you of the value of these tools like spending a few hands-on hours.

Home | Privacy