How to Perform Assumption Analysis for Projects
Assumption Analysis of projects has to do with the process of validating the assumptions made during project planning. It involves documenting the assumptions made during project planning and then determining the risks that may be caused due to inaccuracy instability, or incompleteness of the project assumptions. Assumption analysis can be carried out at any phase of the project lifecycle.
When we talk about assumption analysis for projects, there are some vague decisions that you need to make in order to move on with your project. There are some elements that you need for your project that are needed but they are not in their final state.
For such things, you need to accept them the way they are and continue to check on them till the very end of the project.
Take, for example, you are planning a project that rests solely on the only programmer that you have in your organisation. You are not sure whether your Programmer will be available when you are commencing the project or not. You will still need to assume that the Programmer will be available. This is needed for you to move on with the project.
If you look at the Federal Government budget for Nigeria. There are some assumptions that are made when budgets are presented year in, year out. They may assume that petrol will sell for $60 per barrel. They may also assume that they will be selling 2.5million barrel per day. All these assumptions are needed for the country to move on for that fiscal year,
As you move on with the project, you will always need to update assumptions and constraints for the project, This will allow you to make necessary adjustments and move on with your project.
Now your take on this argument.We would also like to hear what you feel about the topic we discussed today. Your feedback is very important to us. Feel free to drop your comments and recommendations. If you have a contrary opinion, you can drop that too.
You can also join our Facebook Page CRMNigeria for more updates. You can do that by clicking on the link or searching for our page on Facebook.
Click here to Download 5 E-Books that I have taken time to prepare for you.
These E-Books contain formulas that have helped many of my students to nail the PMP Exam at first attempt! You can also make use of this E-Books. If you have any question while using the material, feel free to shoot me a mail. I am committed to assisting you to nail your PMP exam. It’s a pledge. You can always count on me as a friend.
PS: For like seven years since I started blogging I have tried many platforms and tools. Some worked and some of them performed below expectation. Here are some of the tools that I will gladly recommend for you any day, any time.
PS: Click on the link below to sign up for my Online E-Course CRM Training. Make sure you confirm your subscription by clicking on the link sent to you. Thanks.
Adeniyi Salau PMP , CCNA R&S , CDMP, CEP, MOS, MCP, CSCU (Project 2016), Microsoft Certified Security and Networking Associate is a Google and Beingcert Certified Digital Marketer, Project Manager and SEO Expert of repute with about a decade of Blogging and online marketing experience. He is always ready to share his experience with others.