How to Perform Assumption Analysis for Projects

How to Perform Assumption Analysis for Projects

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.

 

assumption analysis for projects

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,

 

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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.

 





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