Managing Project Uncertainty: From Variation to Chaos Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Word Hour "uncertainty", it pervades modern life and business. Uncertainty as much influence on project management companies, for example, that three experts on project management decided to explore the companies successfully adopt it. The authors acknowledge the problem of increased complexity, reduced development cycles, and the inadequacy of the traditional risk management in transition markets. But they note that, paradoxically, the projects carried out under such conditions often have a high income. The secret is ready to reconsider everything in midcourse at prevailing types of uncertainty. Arnoud De Meyer, Christoph H. Loch, and Michael T. Pich, Professor of Technology Management at INSEAD Singapore, saw 16 major projects in various industries. The use of surveys and studies on the design documents, they identify four main categories of uncertainty. In variations, the project plan is a detailed and stable, but the project schedules and budgets drift from their expected values. Foreseen uncertainty characterized by specific and clear influences, the command can not be sure will not happen. Unforeseen uncertainty and chaos difficult group to deal with, since they require a balance between planning and training. Projects with unforeseen uncertainty and chaos are common when the technology is in upheaval or the research, not development, is the main goal. In such cases, the project can be successful results that are completely unexpected. Companies need to learn how to find out what kinds of uncertainty are likely to dominate the project. For those who do, the authors identify the best combination of tools and methods for selecting the management of each type. "Hide
by Arnoud De Meyer, Christoph H. Loch, Michael T. Pich Source: MIT Sloan Management Review 10 pages. Publication Date: December 1, 2002. Prod. #: SMR076-PDF-ENG