PMO – GleeYM https://www.gleeym.com GleeYM offers complete risk management , PMO, Mind Mapping, Training and Digital Transformation Servces! Tue, 27 Dec 2022 23:07:40 +0000 en-CA hourly 1 https://wordpress.org/?v=6.9.4 https://www.gleeym.com/wp-content/uploads/2022/01/cropped-gleelogo-1-1-32x32.png PMO – GleeYM https://www.gleeym.com 32 32 166212591 Is it important to focus on Access Road Construction for mega Complex remote project? 4 Figures Depict a Complete Story! https://www.gleeym.com/2021/02/16/accessroad/ https://www.gleeym.com/2021/02/16/accessroad/#respond Tue, 16 Feb 2021 18:56:01 +0000 https://www.gleeym.com/?p=2646

Real Estate Development Project - Better way to Envisage Your Project's Future. How? 4 Graphs are Enough to Illustrate!

Keywords

Access road construction, Mega complex project, Construction project, Schedule delay, Cost overrun, Sensitivity analysis, Uncertainty, Risks, Weather, Flash flood, Energy, Oil & Gas, Mining, Monte Carlo simulation, What if analysis, Distribution graph, Cost risk analysis, Risk drivers, Schedule risk analysis, Integrated risk analysis

Summary

Energy and mining projects are complex and mostly being executed in remote areas. Site accessibility, weather, uneven terrain, and mobility are the factors that make it more difficult to execute remote area projects. After asset acquisition and getting all necessary permits, the construction of an access road to actual site area is a topmost priority.

Flash flood is unpredictable and can be showstopper in hilly terrain. Analyzing the impact of flash flood, using Monte Carlo simulation, helps to examine the various scenarios and plan mitigation actions to minimize the risk.

Case Study

The construction of access roads is an extremely important that needs to be done at the right time. Any delay in construction can delay the site access and mobilization of team and equipment for field development, and It also needs to be done with the best equipment and materials available, keeping in mind the specific needs of the client.

Flash Floods are unpredictable. Mostly, water follows its path, but it changes its direction depending upon the water quantity and pressure, etc.

Project Schedule

Level I project schedule is shown in fig. 1:

Level I Schedule developed by Gleeym for schedule and cost risk analysis
Fig. 1- Level 1 Schedule

Uncertainty and Risk

There can be a long list of  risks but considered only three (3) top risks.

  1. Flash Flood – Recurring flash flood from May to Sep to hamper Access Road Construction and Plant site.
  2. Delay in delivery of Bulk Material to site
  3. Unavailability of Skilled Labor

Risks were mapped to the activities along with the uncertainties.

Monte Carlo Simulation

After schedule check, mapping uncertainties and risks to schedule activities ran the Monte Carlo Simulation. The “Distribution Graph” is showing the results for a schedule in fig. 2:

Access Road S curve performed by GleeYM
Fig. 2 - Distribution Graph (S Curve) for a Schedule

With uncertainties and risks, the chances of meeting target date are almost 0%. The distribution graph shows that there will be a 50% (mean) chance that the project will be completed on 22-10-2021 i.e., 57 days.

What about the time-phased cost? The “Distribution Graph” is showing the results for a cost in fig. 3:

Time phase distribution graph for cost by Gleeym
Fig.3 - Distribution Graph (S Curve) for a Cost

With uncertainties and risks, the chances of meeting target estimated costs are almost 3%. The distribution graph shows that there will be 50% (mean) chance that extra cost will be $ 1,445,705. Furthermore, there will be an 80% chance that total project cost will be around $11.72 M.

Probability Cash Flow performed by Gleeym
Fig. 4 - Probabilistic Cash Flow (PCF)

What if to visualize the impact of Flash flood to schedule only? The “Distribution Graph” is showing the impact of Flash flood to a schedule in fig. 5.

Analyzing impact of single risk to a schedule. What if analysis
Fig. 5 - What if Analysis with Flash Flood Risk Only

With only Flash flood risk, the chances of meeting target date are almost 0%. The distribution graph shows that there will be 50% (mean) chance that schedule overrun will be 29 days. Furthermore, there will be an 80% chance that project completion date will be 29-10-2021 i.e., 34 days.

 While access roads can be constructed by any means necessary, it is much more cost-effective to use specialized contractors trained in their construction. Each contractor has specific standards that must be met before they begin any work.

Services Offered by GleeYM

SOFTWARE

QUANTITATIVE RISK ANALYSIS

MIND MAPPING No. 1 SOLUTIONS

TRAINING THAT WORKS FOR YOU. HOW? DISCUSSES

 

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Conclusion

Access roads are crucial for any oil and gas project, not just for safety but also to allow construction equipment to enter the site, move materials, and complete the project. 

This is a story of a project that will be started out with a big dream and ended with great success. Nothing is easy; everything is challenging, but the results will be rewarding.

Question

Question: What if to build a bridge to over come the impact of a Flash Flood?

 

Answer: I will discuss it in the next article.

 

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]]> https://www.gleeym.com/2021/02/16/accessroad/feed/ 0 2646 Digital Product Development and Decision Making Under Uncertainty https://www.gleeym.com/2020/10/20/digitalproduct/ https://www.gleeym.com/2020/10/20/digitalproduct/#respond Wed, 21 Oct 2020 03:05:26 +0000 https://www.gleeym.com/?p=1961

Digital Product Development and Decision Making Under Uncertainty

Digitization is dominating in this era of 2nd machine age. A webinar. Worth watching it. Isn't?

The failure rate is high in case of product Development. Technology, competitors, and market dynamics are the key factors, but one can’t ignore cost and schedule.
Cost and schedule model development is the starting point to plan the development of a digital product.
Whether it’s agile, scrum, or waterfall, planning is utmost to avoid financial loss.

@RISK helps to model uncertainty to cost and schedule. @RISK has the capability to analyze the schedule without using any scheduling software and apply uncertainty.

Whether it’s agile or scrum or waterfall methodology, developing schedule and cost estimate are essential.  

 

<div id=”wi105″><div class=”sq_wiki_content” style=”position: relative;clear: both;background: white;font-size: 14px;color: #333;max-width: 500px;margin: 5px auto 5px auto;padding: 13px;border: 1px solid #DDD;-webkit-box-shadow: 0 1px 0 #DDD;-moz-box-shadow: 0 1px 0 #ddd;box-shadow: 0 1px 0 #DDD;”><a id=”w_0″ class=”sq_wiki” href=”//en.wikipedia.org/wiki/Decision_theory” title=”Decision theory” style=”display: block;font-weight: 700;color: #0074B7;line-height: 1.4em;margin-bottom: 5px;text-decoration: none;”>Decision theory</a><div class=”sq_wiki_text” style=”font-style:italic;color: #333;”>re-evaluation of what useful <span class=”searchmatch”>decision</span>-<span class=”searchmatch”>making</span> requires. The area of choice <span class=”searchmatch”>under</span> <span class=”searchmatch”>uncertainty</span> represents the heart of <span class=”searchmatch”>decision</span> theory. Known from the 17th</div></div></div><div><br style=”clear:both” /></div>

<a href=”https://www.gleeym.com/2021/02/11/5waysrisk/” title=”5 Ways Risk Management Software Can Help Your Business. Are You Still Not Considering Risk Software?” style=”font-style:italic;color: #333;”>https://www.gleeym.com/2021/02/11/5waysrisk/</a>

Also visit following link to watch recorded webinar

Capital Project Petrochemical Process Plant, IRR, and NPV Analysis – Webinar

Digital product development and decision making under uncertainty - www.gleeym.com/qra
Pic-1 Digital Product Development
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GleeyM Offer services to identify risks and perform Quantitative Schedule Risk Analysis (QSRA) and Quantitative Cost Risk Analysis (QCRA) for mega complex projects!
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]]> https://www.gleeym.com/2020/10/20/digitalproduct/feed/ 0 1961 Capital Project Petrochemical Process Plant, IRR, and NPV Analysis – Webinar https://www.gleeym.com/2020/08/25/capitalproject/ https://www.gleeym.com/2020/08/25/capitalproject/#respond Tue, 25 Aug 2020 22:10:20 +0000 https://www.gleeym.com/?p=1607

Capital project for the petrochemical process plant (downstream) is slightly different from other capital projects. It requires estimating Total Installed Cost (TIC) plus Owner cost in order to find the complete project cost. Cost estimation for petrochemical process plant is comprised of equipment specification and definite plant facility information.

In this case study, there are 2 products that will be sold in two regions. The price strategy is different so the IRR and NPV will be calculated for base case and under uncertainties and risks. Then we’ll compare the IRR and NPV under different scenarios.

Also visit following link to watch recorded webinar

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Petrochemical plant project management - www.gleeym.com/qra
Pic-1 Project Management
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https://www.gleeym.com/qra/ – for services detail

 

Quantitative Risk Analysis

GleeyM Offer services to identify risks and perform Quantitative Schedule Risk Analysis (QSRA) and Quantitative Cost Risk Analysis (QCRA) for mega complex projects!
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Mind Maps for Business Profitability

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]]> https://www.gleeym.com/2020/08/25/capitalproject/feed/ 0 1607 Risk Register – Doodle https://www.gleeym.com/2020/07/15/riskrdoodle/ https://www.gleeym.com/2020/07/15/riskrdoodle/#respond Wed, 15 Jul 2020 04:37:03 +0000 https://www.gleeym.com/?p=1557

RIsk Register - Doodle, a Visual illustration! How?

he Risk Register, risk log, a repository to record, analyze and store risk data.

According to IRM’s A Risk Practitioners Guide to ISO 31000: 2018:

“The nature and extent of communication of the information contained in the risk register throughout the risk architecture of the organization also help define the risk management context.”

The Risk register is a proportionate, aligned and dynamic document to tell risk stories to all the stakeholders. contained key risk information for risk assessment.
The risk register communicates and provides information to the stakeholders both ways. Top management looks for project risk (as a whole) and Key performance indicators to visualize overall project health. It is only possible by connecting the dots and present data in the form of interactive charts. Focus on risk analytics to quantify, measure and envisage uncertainties to deal with upcoming challenges of global expansion and fourth industrial revolution or second machine age. Counter challenges of digitizing with digital data. Risk visibility with infographics in risk register can be a game-changer.

GleeYM offers strategic planning with Mind Maps.

Risk Register – Doodle , a visual illustration in an easy way!

Also read: https://www.gleeym.com/2019/11/20/communicate-with-risk-register/

My post related to Risk Register template was viewed by 30,000 people and more than 15,000 people have downloaded the template. I have made this doodle to describe the simple steps required to capture information in the risk register.

QUANTITATIVE RISK ANALYSIS

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TRAINING THAT WORKS FOR YOU. HOW? DISCUSSES

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Workshop Facilitation

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Webinar - Watch it for Free

Capital Project Petrochemical Process Plant, IRR, And NPV Analysis – Webinar
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]]> https://www.gleeym.com/2020/07/15/riskrdoodle/feed/ 0 1557 EPPM Planning and Implementation using Mind Map – Digital Transformation Initiative https://www.gleeym.com/2020/03/26/eppmmindmap/ https://www.gleeym.com/2020/03/26/eppmmindmap/#respond Thu, 26 Mar 2020 14:51:57 +0000 https://www.gleeym.com/?p=1498

Enterprise level Software Implementation Project Management using MindMap – Digital transformation project. Facilitated the workshop with key stakeholders are developed MindMap to visualize and walk through the complete project life cycle. MindMap helps to brainstorm, organize and link data. Connected the dots and realize the opportunity by developing schedule, cost estimates, resource estimates, supply chain mode, and risk management.

Project Planning with Mind Map

Mind Mapping revitalizes the efforts to Project initialization and to plan different components of the project. It helps to create a concise, to –the-point and eye-catching illustration of a project. Selecting best idea from many alternatives has always been a challenging task.  The Key stakeholders require clear, vibrant and convincing presentation for taking decision. Mind map offers flawless and interconnected approach to get through the decision process. It is more beneficial during development phases of the project.

Question when to use Mind Maps? Mind maps should consider to plan each and every component of the project:

  • Project Initialization and analyzing alternatives
  • Stakeholder identification and management
  • Requirement gathering and scope
  • WBS, schedule, sequencing activities, cost estimates and assigning resources
  • Quality control and Quality assurance
  • communicating project information and progress to stakeholders
  • Plan procurement and logistics
  • Identifying and managing Risks
  • Project monitoring and control
  • Project close out
Mind Map for risk software by GLEEYM
Pic.1 - Dynamic Mind Map

Mind Mapping

Creative and Critical thinking requires out of the box, rational and objective thinking. Idea generation with one-line statement is just a kick start. Perceiving, communicating and winning an idea requires transforming and shaping information into presentable form. Mind Map helps to generate, relate ideas.

Above all, a great team exercise to get buy-in from the stakeholders in a cohesive environment. While Decision tree helps to evaluate alternate ideas and select the best alternative after performing Expected Monetary Value (EMV) analysis etc. Agile and scrum methodologies are talking about progressive elaboration.

In this era of digital transformation reshaping the idea generation and presentation is important. Remember connecting the dots sequentially helps to transform the idea into product. Gear up your idea by converting it to actions to achieve goals and objectives within specified time and budget.

Communicating with stakeholders is not easy. Requirements and expectations are different. Also, power and interest level are different too for every stakeholder. Therefore, need a tool to communicate effectively. Mind Mapping helps to interact visually and it’ best for story telling and finding solutions to the problems.

Mind map illustrates an idea in a structured way. By connecting a dots, perceiving an idea is much more easier.  Tell us your requirements, GleeYM Inc. is here to help you and save your million of dollars before making decision under uncertainty. Plan and validate your idea before executing. GleeYM Inc. will help you to transform Mind maps to Gantt chart in order to develop schedule and cost estimates. 

Areas of expertise in Mind mapping, but not limited to:

  1. Project Risk Management; qualitative and quantitative risk analysis for cost and schedule using Monte Carlo Simulation. Enterprise Risk Management (ISO 31000)
  2. Facilitating project planning, risk and project management. Experienced with both physical and virtual)
  3. Visual project management by integrating Mind maps with MS Projects
  4. PMO set up, process Improvement
  5. Enterprise Project Management software planning, deployment and implementation
  6. IT project within Agile, scrum and waterfall (hands on experience with JIRA and Confluence)
  7. Digital Risk Management (Integrating risk management with Cyber security)
  8. Process Safety, HSE and Fire Safety for Oil & Gas
  9. Product Development Physical and Digital
  10. Digital Transformation and Change Management
  11. Training (Experience with both in person and virtual. )

Mind Maps for Business Profitability

Want to tell your story in a creative and memorable way? Well, the GleeYM can help you.
Click Here

Quantitative Risk Analysis

GleeyM Offer services to identify risks and perform Quantitative Schedule Risk Analysis (QSRA) and Quantitative Cost Risk Analysis (QCRA) for mega complex projects!
Click Here

MIND MAPPING SOLUTIONS

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Project Case Study

It was a challenging project to plan and implement in a shorter time (tight schedule) with budget constraints and limited resources. The project was to implement Project Management Portfolio solution for the PMO. It was an integration of more than seven (7) software along with customization of software as per demand and requirement. Project Challenges for Project team were:

  • RFQ document was missing with many key information.
  • Project was a new venture and project for a consulting company.
  • Project team was comprised of an enthusiast and expert professionals, but new to plan and implement such type of project.

 

I was engaged to impart training and facilitate the Brainstorming session. I developed the mind map to highlight the project requirements, scope, schedule and cost along with high-level Risks. At that point had a nitty gritty dialogue and contentions with project team. During a brainstorming session we challenge each other i.e. facilitator and project team. The workshop ended with clear objectives, roles, and responsibilities for every project team member. Mind Map structure is given underneath:

Use Mind map to plan and implement EPPM using Mind Maps. www.gleeym.com
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]]> https://www.gleeym.com/2020/03/26/eppmmindmap/feed/ 0 1498 Planning and Implementing EPPM for PMO using Mind Mapping. How? 1 Picture Illustrates https://www.gleeym.com/2020/03/07/mindmappmo/ https://www.gleeym.com/2020/03/07/mindmappmo/#respond Sat, 07 Mar 2020 05:35:01 +0000 https://www.gleeym.com/?p=1402

Planning and Implementation of EPPM for PMO using Mind Mapping. How? 1 Picture Illustrates

A Digital Transformation program with intensive change management initiative to digitize PMO. Used methodology of MindMapping for planning and facilitating workshops with Stakeholders.

Enterprise level Software Implementation Project Management using MindMap – Digital transformation project. Facilitated the workshop with key stakeholders are developed MindMap to visualize and walk through the complete project life cycle. MindMap helps to brainstorm, organize and link data. 

Connected the dots and realize the opportunity by developing schedule, cost estimates, resource estimates, supply chain mode, and risk management. High level a part of digital output for a digital project is attached.

Case Study

Planned, Designed and Implemented Enterprise Project Management software rollout    for a PMO. Integration with the current system, customization and data synchronization were the key success factors.

It was a P3 project at the enterprise level. The   team was inexperienced in project management, but dynamic and tech-savvy.

  1. Arranged interviews with the key stakeholders;
  2. Facilitated workshop to discuss and identify the gaps; 
  3. Planned  Roadmap for the implementation with clear roles and responsibility;
  4.  Quantitative Cost and Schedule risk analysis using Monte Carlo simulation;

 

High-level mind map is illustrated below:

Planned and Implemented EPPM Solution for PMO using Mind Mapping
EPPM Implementation for PMO
Planned and Implemented EPPM Solution for PMO using Mind Mapping
EPPM solution for PMO

Quantitative Risk Analysis

GleeyM Offer services to identify risks and perform Quantitative Schedule Risk Analysis (QSRA) and Quantitative Cost Risk Analysis (QCRA) for mega complex projects!
Click Here

Unique Services for Software Selection and Implementation

GleeYM can help you with a valuable service to pick and incorporate risk management software for decision making and meeting strategic goals!
Click Here

Workshop Facilitation

GleeYM Offers Workshop Facilitation to help you to make the best decisions for your business and projects.
Click Here
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