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List Of Statistical Tools Used In Project Management
{{short description, none This list is a comprehensive collection of statistical methods used in project management is to achieve project goals. Project management tools * Critical path method (CPM) is an algorithm for scheduling a set of project activities in a straight line. * Critical chain project management is a method of planning and managing projects that emphasizes the resources required to execute project tasks. * Program Evaluation and Review Technique, commonly abbreviated PERT, is a statistical tool, used in project management, that is designed to analyze and represent the tasks involved in completing a given project. * Activity diagrams are graphical representations of workflows of stepwise activities and actions with support for choice, iteration and concurrency (computer science), concurrency. * Beta distribution is a combination of probability theory and statistics, most commonly used in project management for time allocation and to analyse random variables. * Critica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statistical
Statistics (from German: ''Statistik'', "description of a state, a country") is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. In applying statistics to a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model to be studied. Populations can be diverse groups of people or objects such as "all people living in a country" or "every atom composing a crystal". Statistics deals with every aspect of data, including the planning of data collection in terms of the design of surveys and experiments.Dodge, Y. (2006) ''The Oxford Dictionary of Statistical Terms'', Oxford University Press. When census data cannot be collected, statisticians collect data by developing specific experiment designs and survey samples. Representative sampling assures that inferences and conclusions can reasonably extend from the sample to the population as a whole. An experim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Earned Value Management
Earned value management (EVM), earned value project management, or earned value performance management (EVPM) is a project management technique for measuring project performance and progress in an objective manner. Overview Earned value management is a project management technique for measuring project performance and progress. It has the ability to combine measurements of the project management triangle: scope, time, and costs. In a single integrated system, earned value management is able to provide accurate forecasts of project performance problems, which is an important contribution for project management. Early EVM research showed that the areas of planning and control are significantly impacted by its use; and similarly, using the methodology improves both scope definition as well as the analysis of overall project performance. More recent research studies have shown that the principles of EVM are positive predictors of project success. Popularity of EVM has grown in re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computer Model
Computer simulation is the process of mathematical modelling, performed on a computer, which is designed to predict the behaviour of, or the outcome of, a real-world or physical system. The reliability of some mathematical models can be determined by comparing their results to the real-world outcomes they aim to predict. Computer simulations have become a useful tool for the mathematical modeling of many natural systems in physics (computational physics), astrophysics, climatology, chemistry, biology and manufacturing, as well as human systems in economics, psychology, social science, health care and engineering. Simulation of a system is represented as the running of the system's model. It can be used to explore and gain new insights into new technology and to estimate the performance of systems too complex for analytical solutions. Computer simulations are realized by running computer programs that can be either small, running almost instantly on small devices, or large-sca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Predictive Analytics
Predictive analytics encompasses a variety of statistical techniques from data mining, predictive modeling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events. In business, predictive models exploit patterns found in historical and transactional data to identify risks and opportunities. Models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision-making for candidate transactions. The defining functional effect of these technical approaches is that predictive analytics provides a predictive score (probability) for each individual (customer, employee, healthcare patient, product SKU, vehicle, component, machine, or other organizational unit) in order to determine, inform, or influence organizational processes that pertain across large numbers of individuals, such as in marketing, credit risk assessment, fraud detecti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Linear Scheduling Method
Linear scheduling method (LSM) is a graphical scheduling method focusing on continuous resource utilization in repetitive activities. Application LSM is used mainly in the construction industry to schedule resources in repetitive activities commonly found in highway, pipeline, high-rise building and rail construction projects. These projects are called repetitive or linear projects. The main advantages of LSM over critical path method (CPM) is its underlying idea of keeping resources continuously at work. In other words, it schedules activities in such a way that: # resource utilization is maximized; # interruption in on-going process is minimized, including hiring-and-firing; and # the effect of the learning curve phenomenon is maximized Alternative names According to, specific names for the linear scheduling method have been adopted, such as: *Location-based scheduling (the preferred term in the book) *Harmonograms *Line-of-balance *Flowline or flow line *Repetitive scheduli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Integrated Master Plan
In the United States Department of Defense, the Integrated Master Plan (IMP) and the Integrated Master Schedule (IMS) are important program management tools that provide significant assistance in the planning and scheduling of work efforts in large and complex materiel acquisitions. The IMP is an event-driven plan that documents the significant accomplishments necessary to complete the work and ties each accomplishment to a key program event. The IMP is expanded to a time-based IMS to produce a networked and multi-layered schedule showing all detailed tasks required to accomplish the work effort contained in the IMP. The IMS flows directly from the IMP and supplements it with additional levels of detail——both then form the foundations to implement an Earned Value Management System. * The IMP is a bilateral agreement between the Government and a contractor on what defines the “event-driven” program. The IMP documents the key events, accomplishments, and the evaluation "cr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capability Maturity Model
The Capability Maturity Model (CMM) is a development model created in 1986 after a study of data collected from organizations that contracted with the U.S. Department of Defense, who funded the research. The term "maturity" relates to the degree of formality and optimization of processes, from ''ad hoc'' practices, to formally defined steps, to managed result metrics, to active optimization of the processes. The model's aim is to improve existing software development processes, but it can also be applied to other processes. In 2006, the Software Engineering Institute at Carnegie Mellon University developed the Capability Maturity Model Integration, which has largely superseded the CMM and addresses some of its drawbacks. Overview The Capability Maturity Model was originally developed as a tool for objectively assessing the ability of government contractors' ''processes'' to implement a contracted software project. The model is based on the process maturity framework first describ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Graphical Evaluation And Review Technique
Graphical Evaluation and Review Technique, commonly known as GERT, is a network theory, network analysis technique used in project management that allows probabilistic treatment both network logic and estimation of activity duration. The technique was first described in 1966 by Alan Pritsker, Dr. Alan B. Pritsker of Purdue University and WW Happ.''Modeling and Analysis Using Q-GERT Networks'' A. Alan B. Pritsker, 2nd Edition, Wiley, 1979 Compared to other techniques, GERT is only rarely used in complex systems. Nevertheless, the GERT approach addresses the majority of the limitations associated with Program Evaluation and Review Technique, PERT/Critical path method, CPM technique. GERT allows loops between tasks. The fundamental drawback associated with the GERT technique is the complex programme (Monte Carlo method, Monte Carlo simulation) required to model the GERT system. Development in GERT includes Q-GERTS - allowing the user to consider queuing within the system. General GER ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Triangular Distribution
In probability theory and statistics, the triangular distribution is a continuous probability distribution with lower limit ''a'', upper limit ''b'' and mode ''c'', where ''a'' < ''b'' and ''a'' ≤ ''c'' ≤ ''b''. Special cases Mode at a bound The distribution simplifies when ''c'' = ''a'' or ''c'' = ''b''. For example, if ''a'' = 0, ''b'' = 1 and ''c'' = 1, then the and CDF become: : : |
Project Network
A project network diagram is a graph that displays the order in which a project’s activities are to be completed. Derived from the work breakdown structure, the terminal elements of a project are organized sequentially based on the relationship among them. It is typically drawn from left to right to reflect project chronology. Techniques Activity-on-Node The Activity-on-Node (AON) technique uses nodes to represent individual project activities and path arrows to designate the sequence of activity completion. Nodes are labelled using information pertaining to the activity. According to Project Management, nodes should at least display the following information: * Identifier * Descriptive label * Activity duration * Early start time * Early finish time * Late start time * Late finish time * Activity float (slack) Start and finish times are used to determine the critical path of a project. Activity float, or slack, time is used in project crashing. Other techniq ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adjacency Matrix
In graph theory and computer science, an adjacency matrix is a square matrix used to represent a finite graph. The elements of the matrix indicate whether pairs of vertices are adjacent or not in the graph. In the special case of a finite simple graph, the adjacency matrix is a (0,1)-matrix with zeros on its diagonal. If the graph is undirected (i.e. all of its edges are bidirectional), the adjacency matrix is symmetric. The relationship between a graph and the eigenvalues and eigenvectors of its adjacency matrix is studied in spectral graph theory. The adjacency matrix of a graph should be distinguished from its incidence matrix, a different matrix representation whose elements indicate whether vertex–edge pairs are incident or not, and its degree matrix, which contains information about the degree of each vertex. Definition For a simple graph with vertex set , the adjacency matrix is a square matrix such that its element is one when there is an edge from vertex to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
