ECM

This forum includes discussion about project risk analysis and risk management theory: Monte Carlo simulations, Event Chain Methodology, schedule and cost risk analysis. Please submit questions and case studies about your experience with our project risk analysis software.

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Daniel001
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ECM

Post by Daniel001 » Tue May 25, 2010 11:11 am

In our projects we are required to run CPM. The problem is that we have a lot of parallel activites etc on our projects and CPM often misses this. Can we use ECM to get a better understanding of this issue?

Fred Kay
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Joined: Fri Feb 12, 2010 11:27 pm

ECM?

Post by Fred Kay » Wed Jun 02, 2010 9:09 am

Signed up for the forum a while back and now looking for some more information. Is ECM referring to Crictical Event Chains or is this something else?

Intaver Support
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ECM as a replacement to CPM

Post by Intaver Support » Thu Jun 03, 2010 7:50 am

One of the main differences between the outputs of Event chain method and critical path is that event chain methodology identifies those activities that have the most uncertainty (crucial tasks) for duration or cost. They may or may not be on the calculated critical path. The issue with CPM is that in real projects with parallel activities there is no true critical path as depending upon actual performance, activities can become critical.

Using critical path only, project managers may not be focused on those activities that are near critical. The crucial task analysis allows you to identify the most critical activities in your schedule.
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Intaver Support
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Post by Intaver Support » Thu Jun 03, 2010 1:26 pm

ECM and critical event chain is often used interchangably in this forum. This is because the focus of event chain methodology is to identify "critical" event chains in project schedules.
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Fred Kay
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Joined: Fri Feb 12, 2010 11:27 pm

Event chains graphs

Post by Fred Kay » Tue Nov 23, 2010 12:27 pm

Where can I view the event chains in my schedule, Is there a particular view where they appear?

FK

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re: viewing event chains

Post by Intaver Support » Tue Nov 23, 2010 12:52 pm

We do not have a particular view specific to event chains. Event chains that can occur in project schedule can best be identified using a combination of views.

The first is to use the sensitivity view to identify critical tasks for cost,duration.

Then using the same view identify the most critical risks.

Using this knowledge, drill down into these tasks and see if the critical risks are assigned to them. A good visualziation tool for this is the risk arrows that appear in the result gantt chart to indicate the risk assignment, type (threat or opportunity), and criticality (red, yellow, green). At this point, you can do some regression analysis, to attempt to identify chains of event that are causing the particular task sensitivity to the particular parameter.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com

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