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Risk Management in Project ManagementEvaluation by State Dependency

Definitions:

Objective: An explicit (documented or stated) time-delimitedgoal to be concretelyachieved in the future.(Any objective or project goal assessment is based on the explicit and exhaustivemeans to complete it. )

An Objective is the sum of all its events (O = P(p1.pn)

An Objective is a projection into the future of events that can / cannot be said toexist.

Objective G at time n to G at time n+1.

An Objective is not a logical deduction

A stated Objective does not contain in itself the means for its accomplishment

Objective is not deductive.

An Objective is a goal determined by its means.

A goal is not a logical entailment of the means.

Any objective ALWAYS justifies the means. It is the way something is done that thesomething becomes.Event: A unit of time in the future in which a defined action takes place (occurrence)State: The description of the status of event(s) at any given time, based on its function.Function: The description of the purpose of an event.Task: Any amount of (time X labor) defined by its function within a time constraint;synonym = delimited unit of time in the future relative to an objective.Value: Quantification rules for state evaluation (based on Criticality, Risk, Function,Task)Criticality: Subjective value attributed to an event, based on said events role orstructural relationship to set Objective.

Each event is always in a specific state at any given time of a project. At project start,all events are at the same state. This initial state is stateless, meaning that time has notaltered any task value.Event state = TASK Evaluation. A Function that is fully documented, described by itsboundaries, is known to be of a very high degree of confirmation, can be said to exist (intime), can be tested.In order to assess an event state:Consider: Task Evaluation = Feasibility (can it be done and how?)The highest degree of confirmation of the above statement determines the validity andpurpose of a task, therefore of the event of which it is a subset.

For each state at time t there is a another state (tn) state which is a risk evaluationfactorAll states at any time

ExampleTask 2 depends on 1Task 3 depends on 2Task4 depends on 1

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Task 4 depends on task 1, 4Task 5 depends on 1, 2, 4

So at time x

If Task 1 -> startAll Tasks T+1 -> StartOr if at time n, task 5 = Late -> dependencies -> T2

While T2 -> T1. So if T1 = late -> Pb(T5) late = 1/3Late -> lookup task = List all task T finished prior to their due date: Where Complete =Resource assigned

SETUP of dependency tracker

List A:- Task - Resource- Time allocated

LIST B

- Task Status Flag = status defined by level 0 5 (critical levels factors) ->sends status code for evaluation to dependency tracker module

- Dependency list (check list) => Takes input from current Task status level ->measures against all dependant task EX - Say this is task 6 dependants on task 1,2, 4

LIST C-- Flags / Alerts- Percent complete in % and Pb()- Status

Task 1 = Status = Delay -> Time due = 2 weeks (7 oct 2008 ) -> diff of task time 6 time 1 = SHOULB be x BUT is XX ), comparison to schedule > assign a temp statusLevel to task 6 (delay of this magnitude is critical) HOW do I know that? Lookup nextdependency - . Task 2 = Status = hold, delay -> Time due = -> diff of task time 6 time 1 = x ), comparison to schedule assign temp NEW (X by status of task 4) lookupnext dependency-> Task 4 = Status = in progress, -> status is 4 (75% complete)

Task dependencies -> List -> Module tracker ->1) takes input of % complete and Status value Number2) > check on status of associated dependencies3) > compares with current time AND this task time4) Evaluates status of current task5) Looks at project map for time available = resource and proposes. IF not, returns a $$$ code6) Task may need cutting7) Look at task importance (priorities)

Defined byInterconnectivity level importance to architecture

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