Virtual Luncheon | Decision Tree Analysis: A Technique and Tool for Improved Project Planning | Dr. Kenneth Smith, PMP (Ways of Working PDU)
PMI Honolulu Hawaii Chapter Meeting
Title: Decision Tree Analysis: A Technique and Tool for Improved Project Planning
Speaker: Dr. Kenneth F. Smith, PMP
Date: Thursday, June 23, 2022 | 12:00 Noon - 1:00pm Hawaii Time
Topic Description: Once potential project objectives have been identified, Decision Tree Analysis (DTA) is a useful technique during the Planning Phase to Compare Alternatives before deciding on a particular project option, or course of action. DTA can also be used to determine the size of a Management Reserve – i.e. how much additional time and funding ‘buffer’ you need to build in to the overall project schedule and budget for known & unknown events, based on Key activity risk probabilities.
Learning Objectives: This event has the following learning objectives:
- Appreciate the two applications of Decision Tree Analysis
- Understand the Concept of Expected Monetary Value and Benefit Cost for Comparative Analysis
- Understand the Concept of DTA in developing a Management Reserve
- Acquire the DTA template for future Management Reserve development
Ken is a retired senior foreign service officer -- management & evaluation specialist, project manager, and in-house facilitator/trainer of the US Agency for International Development (USAID); where he assisted host country governments in many countries plan, monitor and evaluate projects in various technical sectors. Intermittently, he was also a team leader &/or team member to conduct project, program & and country-level portfolio analyses and evaluations. [Concurrently, Ken had an active dual career as Air Force ready-reservist in Asia (Japan, Korea, Vietnam, Thailand, Indonesia, Philippines) as well as the Washington D.C. area. He retired as a ‘bird’ colonel].
After USAID retirement, Ken was a consultant for the Asian Development Bank (ADB), the World Bank Group, various UN Agencies as well as USAID; a course designer & facilitator for the Mekong Institute in Thailand, Ateneo de Manila University in the Philippines, and the PMI®-Philippines Chapter.
Ken earned his Doctorate from George Mason University (GMU), Virginia, in Public Administration (Monitoring & Evaluation); a Master of Science from Massachusetts Institute of Technology (MIT) and Diploma in Systematic Policy Analysis from MIT’s Center for Advanced Engineering Study (CAES); and BA & MA degrees from the University of Connecticut in Government & International Relations.
A member of both PMI Honolulu & Philippine Chapters, Ken is a frequent contributor to the Project Management World Journal (PMWJ) and the author of Project Management PRAXIS: A Treasure Trove of Practical Innovations to Classic Tools and Techniques for Planning, Monitoring & Evaluating Projects, Programs and Portfolios for “Quick and Easy” application by Project Management Practitioners. (Available from Amazon.)
Event Information: Zoom information will be provided with your registration confirmation.
PMI Talent Triangle: This free webinar qualifies for 1 Ways of Working PDU (pka, Technical). No self-reporting is needed for attending PMIHNL chapter members.
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