Data Analysis Tools  Description  There are around 28 important tools and techniques used by project managers to organize, assess, and evaluate data and information. Tools  Alternatives analysis Assessment of other risk parameters Assumption and constraint analysis Cost of quality Cost-benefit analysis Decision tree analysis Document analysis Earned value analysis Influence diagrams Iteration burn down chart Make-or-buy…
Description  A technique to analyze the combined effects of project risks and other sources of uncertainties to evaluate the potential impact on the project objectives including scope, cost, time, and effort. Example – Monte Carlo Analysis. It is an independently-used project management tool. Where it is Used  Process Groups This tool is used in the following Process Group(s)…
 Description  An analysis to produce a list of stakeholders along with their information relevant to them, i.e. position, role, stakes, attitudes, expectations, influence, and interest in the type of information. It belongs to the tool category – Data analysis  Where it is Used  Process Groups This tool is used in the following Process Group(s) during the…
 It is a matrix that compares the current level of engagement of the stakeholders as compared to the desired level of engagement. It belongs to the tool category – Data analysis Where it is Used Process Groups This tool is used in the following Process Group(s) during the project management PlanningMonitoring & Controlling Knowledge Areas This tool is…
Description  It is a comparative analysis of achieved technical performance of a project as compared to the expected technical performance.It belongs to the tool category – Data analysis  Where it is Used  Process Groups Monitoring & Controlling Knowledge Areas Project Risk Mgmt.  Activities Monitor Risks Process Group Knowledge Area Activity Monitoring & Controlling Project Risk Mgmt. Monitor Risks     Kailash B, MBA,…
Description  It is an analytical technique to evaluate which individual risks or uncertainties have the maximum impact on the project objectives. It belongs to the tool category – Data Analysis   Where it is Used  Process Groups This tool is used in the following Process Group(s) during the project management Planning Knowledge Areas This tool is used in the…
Description Risk probability assessment talks about assessing the likelihood of the risk. Risk impact assessment talks about the impact related to the finance, time, resource, scope, and performance of the project. It belongs to the tool category – Data Analysis  Where it is Used  Process Groups This tool is used in the following Proces Group(s) during the project…
Description  It is the act of evaluation and analysis of various scenarios and their effect on the project objectives. Usually, Schedule Network Analysis is done to see the impact of these possible scenarios on the project schedule. Example –  As I am writing thing article there is a prevailing Covid-19 situation worldwide that has impacted many businesses in terms…
