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PM Talk with Dr. Ken Smith: Realistic Time Estimating - A Critical Problem & a Solution

PM Talk with Dr. Ken Smith.  Topic: Realistic Time Estimating - A Critical Problem & a Solution

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Topic Summary

Realistic time estimating and scheduling is particularly critical for both:

  • Contractors with Firm Fixed Price (FFP) contracts, as well as
  • Clients/Donors awarding Cost Plus Fixed or Incentive Fee (CPFF & CPIF) -type contracts.

However, at a recent Project Management Institute Chapter meeting I attended in Manila, member-participants identified their major concern as the difficulty of developing realistic time estimates. 

Experienced project managers unanimously acknowledged that -- for one, or more, reasons -- schedules were typically over-optimistic.  However even those using the standard “PERT” three-time method to estimate activity & project duration said that in practice both the “Most Likely” and the subsequently-calculated “Expected” times were usually over-optimistic & unrealistic!

So what can you do to increase your chances for success? 

Dr. Ken Smith has developed a ‘Work-Around’ Solution to resolve this issue which he will be presenting in this session.

Speaker Bio

Dr. Ken Smith is a PMP with over 35 years of experience as self-employed freelance Project Management Consultant world-wide, especially Asia & the Philippines -- primarily for Headquarters programs and cooperating country government social, economic development & infrastructure projects funded by the World Bank group, African Development Bank, Asian Development Bank, U.S. Agency for International Development, and various UN Agencies; as well as the international Project Management Institute for public and private sector companies & institutions.

Webinar Information

Please register for this event.  Webinar information will be e-mailed to all registered users the day before the event.

MORE ABOUT VIRTUAL ROUNDTABLE PM TALK

PMI Honolulu Hawaii Chapter hosts a free virtual roundtable PM talk monthly. New topics will be offered each month and registered attendees will receive 1 PDU.  Participants are welcome suggest topics to introduce. 

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Aloha

Kane Ng-Osorio, PMP, MBA

Past President

PMI Honolulu 2019

It is no longer possible to register for this event

It is no longer possible to register for this event

Information

Type of activity: Webinar

Date: April 4th, 2019

Hour: 12:00PM to 1:00PM

Number of PDUs: 1.0

Price

Members: Free

Non members: Free

Students: Free

Location

Webinar (Login information will be e-mailed to registered users the day before the event)