Friday, August 14, 2020

WHAT-IF SCENARIO ANALYSIS (PMP Tool)



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 of productivity and resource availability on a virtual space as we know all industries (e.g. construction) can not be virtualized and if it is done it doesn't happen without perils.

You can have scenarios like -

1. What is the lockdown is not over till year-end.
2. What if there is a vaccine launched successfully.
3. What if people in my industry are quarantined.
4. What if the Architect quits
5. What if there is 50% less budget available than allocated earlier

The list goes on and as a project manager, you have to be judicious enough to figure out what could impact the schedule.

It belongs to the tool category - Data analysis


Where it is Used


Process Groups

Planning
Monitoring & Controlling

Knowledge Areas

Project Schedule Mgmt.

Activities

   Develop Schedule
   Control Schedule

Process Group
Knowledge Area
Activity
Planning
Project Schedule Mgmt.
Develop Schedule
Monitoring & Controlling
Control Schedule






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