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Many Similarities:
APMs PRAM and PMIs PMBOK
Many Similarities:
APMs PRAM and PMIs PMBOK
Phases (APM)
Processes (PMI)
Phases or processes
Processes (PMBOK)
Phases (PRAM)
PMBOK Chapter 11 (PMI)
Define Project
Focus PRAM
Identification
Assessment (covers both
qualitative and quantitative)
Planning
Management
Many Similarities
Almost identical
Assumptions analysis
Checklist
Brainstorming
Delphi technique
Interviews
Analytical Tools
Ordinal (relative)
Very low, low, moderate, high, very high
Cardinal (numeric)
.1 / .3 / .5 / .7 / .9 (risk neutral)
.05 / .10 / .20 / .40 / .80 (risk averse)
Very Low
.05
Insignificant
cost increase
Insignificant
Schedule
schedule
slippage
Scope
Quality
Low
.1
< 5% cost
increase
Schedule
slippage <
5%
Moderate
.2
5%-10% cost
increase
Overall
project
slippage 5% 10%
Minor areas Major areas of
of scope are scope are
affected
affected
High
.4
10%-20%
cost increase
Overall
project
slippage 10%
- 20%
Scope
Scope
decrease
reduction
barely
unacceptable
noticeable
to the client
Quality
Only very
Quality
Quality
degradation
demanding reduction
reduction
barely
applications requires client unacceptable
noticeable
are affected approval
to the client
2001 International Institute for Learning, Inc.
Very High
.8
>20% cost
increase
Overall project
schedule slips >
20%
Project end
item is
effectively
useless
Project end
item is
effectively
unusable
0.72
0.56
0.40
0.24
0.08
0.80
Strong
Build New Plant
FALSE
(Probability and
Payoff - Cost)
65%
200
80
35%
Product Demand
-120
41.5
Weak
Build or Upgrade?
90
-30
65%
0.65
120
70
35%
0.35
Decision
49
Strong
Upgrade Existing Plant
TRUE
Product Demand
-50
49
Weak
60
10
5,000 Trials
0 Outliers
1.000
5000
.750
.500
.250
12%
Mean = 46.67
.000
0
30.00
38.75
$41
47.50
$50
56.25
65.00
Differences in style
Focus
Organization and
Implementation: PRAM
Implementation
Objectives
Introducing PRAM into the organization
Hard benefits
Soft Benefits
Downside of PRAM
Behavioral Influences on PRAM
Technical
Project management
Organizational
External
PMBOK
Structure
Understand implications
Contractor vs. Owner
Own risk and response
Evaluate
Estimate
Ownership
Impact on objectives
Probability and impact
Focus on show-stoppers
Clear, significant uncertainty
Discussed in a separate
Appendix
Assumptions testing
Data precision ranking
Examples of each
Appropriate
Cost effective
Timely, realistic
Agreed (funded)
Commensurate with objectives
Avoidance
Transference
Mitigation
Acceptance
Deliverable
Communicating to all
stakeholders
Project change requests
Earned Value Analysis
Technical Performance
Measurement
Update lessons learned,
checklists