5 Facts about Predictive Methodology for Handling Projects

5 Facts about Predictive Methodology for Handling Projects

Introducing Predictive methodology for handling projects

In many of my previous articles, I have talked about what it takes to handle a project successfully. These factors which I have discussed in my previous articles will go a long way in determining whether you will succeed as a Project Manager or not. In this article, I want to talk about how you can use the predictive model to handle projects.

Examining the Predictive Method of Handling Projects

When we talk about the predictive method in project management, it has to with the ability to look through your project and predict some of the challenges that you are likely to face in your project.

If you are using this method, you should be able to predict some of the challenges that you are likely to face in the course of the project.

 

The predictive methodology applies to the early phase of projects

This method relies on effective early phase analysis of your project. You have to discuss some of those things that are likely to derail your project. When a project manager is using this methodology, you have to monitor all changes happening on your project in order for the project not to derail.

The predictive model for your project is very essential at the beginning of the projects. It helps you to know if you have the core competencies needed to execute a project successfully. Using this methodology can help you a lot in the way you execute your project. It can also help you to bring to life a dead project. You will be able to predict correctly where the project actually has gone wrong. This will help you to bring back a dead project to life.

Most at times as well, you make use of this model when you are running a project that you already know how it will be done from the beginning to the end. Some of these tasks as well, you can predict some of the risks that will be encountered in the process of running the project.

Some of the steps that are followed include: Requirements gathering, feasibility, planning, design, construct, test turnover. It is all about using what has worked in the past in order to ensure that your project succeeds.

The predictive methodology is mostly used in projects to:

To achieve project success.

Realise measures that you can take to keep your project on track.

Minimize financial losses by improving project oversight.

Drive project success by removing processes that do not contribute to project success.

Reduce risk by comparing your project subject to other attributes. It also allows you to set benchmarks that your project will be based on.

 

YOU CAN ALSO READ  4 Major Risk Categories for Projects

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