Predictive Project Management

Staged approach of Predictive Project Management

Predictive project management passes through phases like;

  • Initiation

  • Planning

  • Execution

  • Monitoring & Controlling Closing

Another example is the software development project following waterfall model

  • Collect requirements

  • Define scope

  • High level design

  • Low level design

  • Construction

  • Testing

  • Hand over

When the requirements are signed off, then we start with scope definition. Once the scope is approves, we do the high level design, followed by the low level design. Then we get into construction, QA and signoff.

Predictive approaches focuses on end to end planning of the project. This approach is good for projects where scope is clear, technology is well known and the engineering domain is not easy to change (civil, mechanical etc)

Work flow of predictive project management

  • Initiate the project (Develop and approve the project charter)

  • Define scope

  • Decompose the scope into work packages (engineering, procurement & construction) to construct the Work breakdown structure (WBS) of the project

  • Develop the Bill Of Quantities (BOQ)

  • Estimation and budgeting

  • Develop schedule

  • Execute

  • Monitor & Control

  • Close project / phase