The project’s customer has stated the project must be completed by a date indicated as the P90 date established on the Monte Carlo analysis. What should the project manager do to ensure the P90 date is met?
The project’s customer has stated the project must be completed by a date indicated as the P90 date established on the Monte Carlo analysis. What should the project manager do to ensure the P90 date is met?
To ensure the P90 date, which has a 90% probability of being achieved according to the Monte Carlo analysis, the project manager should focus on addressing the risks identified in earlier analyses. Mitigating risks identified on the sensitivity analysis is the most appropriate action because it directly targets the factors that could delay the project. By proactively mitigating these risks, the project manager can increase the likelihood of meeting the P90 date.
D. Hire more resources and crash the schedule The P90 date, which is the date that has a 90% probability of being achieved based on the Monte Carlo analysis, is an important target for the project. To ensure that this date is met, the project manager may need to take steps to accelerate the project schedule, such as hiring additional resources or "crashing" the schedule. Crashing the schedule involves identifying ways to reduce the duration of certain project activities or tasks in order to meet the P90 date. In addition to crashing the schedule, the project manager may also want to consider other risk management strategies to help ensure that the P90 date is met. This could include mitigating risks identified on the sensitivity analysis, updating the assumptions/exclusions register, or performing a qualitative risk analysis for the project. By taking a proactive and systematic approach to risk management, the project manager can help to ensure that the project is completed on time and within budget.
The P90 date, in project management, refers to the date by which there is a 90% probability that the project will be completed. It's determined through Monte Carlo analysis, which is a statistical technique used to analyze the impact of risk and uncertainty in project schedules. The P90 date indicates a level of confidence in project completion, with only a 10% chance of it being delayed beyond that date. Risk mitigation to make it P99!