PERT Plus brings to the user of the Microsoft Project 2013/2016, the following features to enhance the quality of the schedule and features. The product is being sold and distributed with the name PERT Plus. The suite comes with the following components in the current release [Version 3.0]
1. Schedule Optimizer:
This module performs a diagnostic check on your schedule against a set of 20+ scheduling guidelines and best practices as prescribed by Project Management Institute (PMI) Practice Standard for Scheduling Edition 2 and US Defense Contract Management Agency (DCMA)
2. PERT Analysis and Contingency planning:
You can create a three-point estimate for each activity or selected tasks and apply BETA distribution to calculate the expected duration and see how it compares with the deterministic estimate. If the estimates need correction it can be made for selected tasks or complete range of activities. Contingency planning features helps you to calculate the activity level standard distribution and roll up to project level and build a contingency at the end of the project in the form of a buffer tasks with 1 α (One Standard deviation) for 84% confidential level or 2α (Two Standard deviations) for 97.75% Confidential level. You can also add resource and cost buffer at the same proportion to the overall project effort and / or cost. This utility can also be used to practice Critical Chain Project Management (CCPM)
3. RACI Matrix:
This feature helps the user to identify deliverables / artifacts within the project and build RACI matrix [ R- Responsible, A – Accountable, C – To be consulted, I – to be informed]. We intend to add more modules.
Proventures Project PERT Plus is a COM Add-in to Microsoft Project 2013/2016. After the Installation process, Add-in can be accessed in the Microsoft Project Ribbon, PERT Plus Tab.
PERT Plus COM Add-in analyses the schedule for Non-Compliance against the Best Practices identified by Proventures from PMI’s Practice Standard for Scheduling to improve the quality of schedule.
Few of the best practices validated in the Project Schedule Optimizer Add-in are as follows:
PERT Analysis and Contingency Planning
Schedule model analysis utilizes various tools and techniques throughout the project life cycle to optimize schedule from various perspectives such as Critical Path, Critical Chain, Uncertainties/Risks, Resources constraints and various types of dependencies before creating the baseline schedule model.
Risk analysis is done in the following two stages:
Qualitative risk analysis prioritizes the risks based on Probability, Impact and Risk exposure. Based on the prioritized risks response strategies are drawn and an action plan is developed and documented in a risk register. These actions are implemented by reworking on the schedule and building reserves in terms of schedule duration, cost budget and work (effort).
This module focusses on the following key features:
These features help the project managers to leverage the uncertainties and build a proactive schedule with internal and external targets separated by project buffer. With an effective risk response strategy put in place along with an effective contingency strategy you can demonstrate a minimum of 15 to 20% improvement compared to traditional scheduling methods.
This module helps the project managers to practice Critical Chain scheduling method in conjunction with existing standard CPM and Resource levelling features of Microsoft Project.
RACI Matrix module overview
Plan Resource Management is the process of defining how to estimate, acquire, manage and use team and physical resources. This process also establishes the approach and level of management effort needed for managing project resources based on the type and complexity of the project. This process is performed once or at predefined points in the project.
Resource planning is used to determine and identify an approach to ensure that sufficient resources are available for the successful completion of the project. Project resources may include team members, suppliers, materials, equipment, services and facilities. Effective resource planning should consider and plan for the availability if, or competition for, scarce resources.
Below are the few Tools and Techniques of this Process:
One of the Data Representation techniques that can be used for this process include Assignment Matrix. A RAM shows the project resources assigned to each work package. It is used to illustrate the connections between work packages, or activities and project team members. The matrix format shows all activities associated with one person and all people associated with one activity. This also ensures that there is only one person accountable for any one task to avoid confusion about who is ultimately in charge or has authority for the work.
One example of RAM us a RACI (responsible, accountable, consult and inform) chart, as shown in below figure.
The sample chart shows the work to be done in the left column activities. The assigned resources can be shown as individuals or groups. A RACI chart is a useful tool to use to ensure clear assignment of roles and responsibilities when the team consists of internal and external resources.
Proventures RACI is a COM Add-in to Microsoft Project 2013/2016 which simulates the RACI Functionality. After the Installation process, Add-in can be accessed through the Microsoft Project PERT Plus Tab in the Ribbon.