Entries by Rizwanul Bari

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Application of Monte Carlo Simulation in Project Management – Part I: Introduction

This is Part I of my blog on Application of Monte Carlo Simulation Method/Technique in Project Management series. In Part I (this article), I will provide you a very high level overview of the method, identify a few of its drawbacks, and list a few tools currently available in the market in this space. In Part II, I’ll try to apply the method in one specific area of Project Management – uncertainty analysis of project cost estimation. I’ll do so using a widely used productivity tool, MS Excel.

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Essential Project Management Artefacts

I always wonder what are the essential (must have) Project Management (PM) artefacts? By “artefacts” I mean PM documents, tools, techniques and practices. My goal in this blog is to identify and short list a set of project management artefacts that you should have at a minimum in order to complete your project on time, within budget and scope, while keeping the risk of project failure to a minimum.

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PMLC and SDLC – How are they Related?

There are two life cycles that are associated with product development, regardless of the product and/or industry it belongs to. These are the Project Management Life Cycle and the Product Development Life Cycle. Let me first describe, in a generic way, the relationship between these two life cycles. Later I will explain how the relationship works specifically for software/systems development.

A Primer on Software Cost Estimation Models

There are several models can be found in the literature that deal with software cost estimation. At a very high level, these models estimate software costs in three main steps: (i) they somehow estimate/predict the software size (ii) then they determine the effort required using some productivity rate (iii) once size and effort have been determined, they convert these quantities into dollar figures and duration.