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Lucas Jerden

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Use Monte Carlo Simulation to Manage Schedule Risk

The three critical aspects of a running a successful project include project costs, project scope and project schedule. Since projects contain many sources of variation, all three aspects are prone to not meeting targets. Project managers need to use appropriate tools to manage the variability (or risk) in the project. Critical Path Method Traditionally, project…

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Using Performance Boards Successfully in Services

Faced with stiffening competition, increasingly demanding customers, high labor costs, and, in some markets, slowing growth, service businesses around the world are trying to boost their productivity. Although manufacturing businesses can raise productivity levels by monitoring and reducing waste and variance in their relatively homogeneous production and distribution processes, service businesses find that improving performance…

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