Managing Uncertainty in Project - Project Management Tool

#uncertainty #projectmanagement #excel

A project manager has to manage various uncertainties like #Projectschedulevariation, #commoditypricefluctuation, #EstimationError and #Rejection / #Rework. Many professional has confusion over how to handle these uncertainties. In this video we are explaining how to access and #mitigaterisk associated to these uncertainties in a mathematical way.

We have already posted couple of videos related to handling uncertainty,

1. Monte Carlo analysis in Supply Chain using Excel - https://youtu.be/oXpgwp1YQjQ

2. Handling Uncertainty in Procurement using Excel - https://youtu.be/r6E_zXZiLgs

We had used #Yasai Excel add-in to do simulation in first video and two variable #whatifanalysis in second video. This video also uses Excel to do the simulation but it is without any Excel add-in.

00:00 Intro

00:55 Major risks in Project

02:11 Business Case

05:13 Modeling uncertainty associated with Risk in Excel

11:50 Simulation

16:02 Conclusion

If you have any questions please post it in comment section