Analytical techniques
“Analytical Techniques” is a tool/technique for the process “Monitor and Control Project Work “.
Analytical techniques are applied in project management to forecast potential outcomes based on possible variations of project or environmental variables and their relationships with other variables. Examples of analytical
techniques used in projects are:
– Regression analysis,
– Grouping methods,
– Causal analysis,
– Root cause analysis,
– Forecasting methods (e.g., time series, scenario building, simulation, etc.),
– Failure mode and effect analysis (FMEA),
– Fault tree analysis (FTA),
– Reserve analysis,
– Trend analysis,
– Earned value management, and – Variance analysis.
“Analytical Techniques” is a tool/technique for the process “Close Project or Phase”.
Examples of analytical techniques used in project closeout are:
– Regression analysis, and – Trend analysis.
“Analytical Techniques” is a tool/technique for the process “Plan Schedule Management”.
The Plan Schedule Management process may involve choosing strategic options to estimate and schedule the project such as: scheduling methodology, scheduling tools and techniques, estimating approaches, formats, and project management software. The schedule management plan may also detail ways to fast track or crash (Section the project schedule such as undertaking work in parallel. These decisions, like other schedule decisions” affecting the project, may affect project risks.
Organizational policies and procedures may influence which scheduling techniques are employed in these decisions. Techniques may include, but are not limited to, rolling wave planning, leads and lags , alternatives analysis, and methods for reviewing schedule performance .
“Analytical Techniques” is a tool/technique for the process “Plan cost management”.
Developing the cost management plan may involve choosing strategic options to fund the project such as: self-funding, funding with equity, or funding with debt. The cost management plan may also detail ways to finance project resources such as making, purchasing, renting, or leasing. These decisions, like other financial decisions affecting the project, may affect project schedule and/or risks.
Organizational policies and procedures may influence which financial techniques are employed in these decisions. Techniques may include (but are not limited to): payback period, return on investment, internal rate of return, discounted cash flow, and net present value.
“Analytical Techniques” is a tool/technique for the process “Plan Risk management”.
Analytical techniques are used to understand and define the overall risk management context of the project.
Risk management context is a combination of stakeholder risk attitudes and the strategic risk exposure of a given project based on the overall project context. For example, a stakeholder risk profile analysis may be performed to grade and qualify the project stakeholder risk appetite and tolerance. Other techniques, such as the use of strategic risk scoring sheets, are used to provide a high-level assessment of the risk exposure of the project based on the overall project context. Depending on these assessments, the project team can allocate appropriate resources and focus on the risk management activities.
“Analytical Techniques” is a tool/technique for the process “Conduct Procurements “.
Procurements involve defining a need in such a way that vendors can bring value through their offerings. To ensure that the need can be and is met, analytical techniques can help organizations identify the readiness of a vendor to provide the desired end state, determine the cost expected to support budgeting, and avoid cost overruns due to changes. By examining past performance information, teams may identify areas that may have more risk and that need to be monitored closely to ensure success of the project.
“Analytical Techniques” is a tool/technique for the process “Plan Stakeholder Management”.
The current engagement level of all stakeholders needs to be compared to the planned engagement levels required for successful project completion. Stakeholder engagement throughout the life cycle of the project is critical to project success.
The engagement level of the stakeholders can be classified as follows:
– Unaware. Unaware of project and potential impacts.
– Resistant. Aware of project and potential impacts and resistant to change.
– Neutral. Aware of project yet neither supportive nor resistant.
– Supportive. Aware of project and potential impacts and supportive to change.
– Leading. Aware of project and potential impacts and actively engaged in ensuring the project is a success.
The current engagement can be documented using Stakeholders Engagement Assessment Matrix, as shown in Figure 13-7, where C indicates the current engagement, and D indicates the desired engagement. The project team needs to identify the desired engagement level for the current phase of the project, based on available information.
The example in Figure 13-7 shows that stakeholder 3 is at the desired engagement level, while stakeholders 1 and 2 require further communications and additional actions to move them to the desired level of engagement.
Stakeholder Unaware Resistant Neutral Supportive Leading Stakeholder 1 Stakeholder 2 Stakeholder 3 C C D D D C Figure 13-7. Stakeholders Engagement Assessment Matrix Through this analytical process, gaps between the current and desired engagement levels can be identified.
Actions and communications required to close these gaps can be identified by the project team using expert judgment.
This definition was found in the PMBOK V5
Go back to the Glossary or to the Mapping