Delphi techniques: Delphi techniques allow experts to come together and reach a consensus. Anonymous participation was possible from project experts. The organizers used questionnaires for opinions on key project issues. They then summarized the answers and gave the results back to experts for further comment. After several rounds of this process, it is possible to reach an agreement. The Delphi technology reduces data bias and prevents anyone from unduly influencing results. A few key words: expert. Anonymous. Multiple rounds. Convergence.
Sensitivity analysis: This helps to identify the risks that could have the greatest impact on the project. It helps to understand how changes to project goals relate with changes in uncertainties. All other uncertainties must be fixed to baseline values. Then you can see how each factor affects the goal. A tornado map is one example of sensitivity analysis.
Monte Carlo simulation is the process of simulating hundreds possible outcomes based upon the probability distributions of cost and schedule for one task and then applying these results at the project level to generate a probability distribution.
RACI: A common matrix of responsibility that uses terms like executive, responsible, advisory and informed to describe the state of stakeholder participation in project activities.
Rolling planning: A method of iterative planning in which the work that will be done in the near future is planned in detail, and the work that will be done long-term is planned roughly.
Trend analysis: Analyze changes in project performance over time. This will help you determine if performance is improving or declining. Graphic analysis techniques allow you to analyze current performance and compare it to future targets (expressed in terms of completion dates).
Analysis of expected monetary value: A statistical technique that calculates an average result for certain future events. Commonly used in decision tree analysis.
The five stages of teambuilding:
Formation stage. This stage is where team members get to know one another and learn about the project. They also learn about their formal roles and responsibilities within it. The team members tend to be more independent than one another and not always open up.
The oscillating phase. The team begins working on the project, making technical decision and discussing the project management strategy. If team members are not open to other points of view and opinions, it can lead to a negative team environment.
The specification phase. The specification phase is where team members start to work together, adjust their work habits and behavior to support the team, as well as build trust among each other.
Maturity stage. This stage is when the team functions as an organized unit. To solve problems efficiently and smoothly, team members depend on each other.
Phase of dissolution. The dissolution phase is when the team finishes all work and team members depart the project. After the project is completed, people are usually released and teams are disbanded. You can also disband the team at the end of a phase or project (see Section 4.6).