This presentation is intended for project professionals who are interested in creating a probability plan but may not know where to start or the benefits of creating and using a probability plan.

William will tell you how, using nothing more than Microsoft Excel and a ready-made, freely licensed spreadsheet called Statistical PERT, he successfully created a 10-month activity-level plan for a major upgrade of his employer's enterprise resource planning (ERP) software.

Interestingly, this probabilistic approach to planning does not use Monte Carlo simulation, but can approximate the result of a Monte Carlo simulation. Even better, the pre-built Excel spreadsheet hides the complexity of Excel's statistical functions, so you can focus on getting good planning information from your subject matter experts.

Learning goals:

Understand how to model uncertainty in task/activity plans
Create a simple probabilistic project plan using only Excel
How to properly dimension a schedule buffer
Create a schedule buffer of the right size for each project

Join this channel to get access to perks:
https://www.youtube.com/channel/UCog9jkDZdiRps2w27MZ5Azg/join

ONLINE TRAINING: https://riskacademy.vonza.com/
OFFICIAL BLOG: www.riskacademy.blog
RAW2021 https://2021.riskawarenessweek.com/ Check out the fantastic quantitative risk management software https://www.archerirm.com/insight-risk-academy Improve your company's risk management practices and the quality of your board's decision making with our Advanced Risk Governance course, covering everything from traditional risk management elements to advanced risk monitoring, and including practical case studies and additional resources to strengthen your board's oversight. https://courses.dcroi.org/courses/alex-sidorenko?ref=bda26d

Please take the opportunity to connect with your friends and family and share this video with them if you find it useful.