Page 227 - E2 Integrated Workbook STUDENT 2018

Project management tools and techniques

Other tools and techniques used in

planning time

4.1 Dealing with risk and uncertainty when planning for time

While risk is considered at the initiation stage of the project risk (and uncertainty)
must be considered again at the detailed planning stage when the project manager is
planning the time aspect of the project. There are a number of techniques which can
assist with this:

 Project evaluation and review technique (PERT)

Each task is assigned a time.

– An optimistic (best) time (o) O + 4m + p

– A probable time (m) 6

– A pessimistic (worst) time (p)

It then uses a formula to calculate an expected time:

 Scenario planning

Scenario planning involves considering one or more sets of circumstances that
might occur, other than the ‘most likely’ or ‘expected’ set of circumstances.
Each set of assumptions is then tested to establish what the outcome would be
if those circumstances were actually to occur. This would allow the project
manager to switch to the appropriate plan for whichever contingency arose.

 Buffering

This involves adding artificial slack into risky activities. It adds padding to the
original estimates and allows for the fact that it can be very difficult to ensure
that all stages and activities are carried out exactly as planned.

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