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Project Management Happy Hour

PM Happy Hour is the place for frank and honest discussion about real world issues in project management. We do it in a way that’s not too dry, though it may get a bit salty from time to time.

Each episode, your hosts Kim Essendrup and Kate Anderson we will cover a problem faced in project management today, and share practical advice, real-life examples and the occasional project horror story.

Not only that, but every podcast is also an online class! Our host is a PMI Registered Education Provider, who has structured each podcast as an easy-to-listen-to lesson. To get credit, go to our web site at PMHappyHour.com, purchase your class, take the test (based on the content from our podcast) and you get your PDU certificate instantly!

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  2. 013-Don't guess! Plan your project with SCIENCE using Monte Carlo analysis

013-Don't guess! Plan your project with SCIENCE using Monte Carlo analysis

Jan 23, 2018

Although touched on in the PMBOK, most of us have little exposure to Monte Carlo analysis – which is a shame! Monte Carlo analysis can add a new level of credibility to our planning when the stakes are high by backing it with real science and statistical models. In this episode, we demystify this tool, discuss its benefits, when it is appropriate, and why math is our friend J From mining to professional services, contact centers and orbital battle stations, we discuss how Monte Carlo can help you run your business. 

We also discuss photon versus proton torpedoes.

Our special guest is Luc Vandamme, who has been in the mining industry for more than 25 years and is now a Senior Director in his organization’s Enterprise Project Management Office.  Luc’s career has taken him from mining technology research and development to business optimization, organizational development, and now to project management.  Luc has a Civil and Geological Engineering degree from the University of Louvain in Belgium (he is NOT related to Jean-Claude!) and a Ph D in rock mechanics from the university of Toronto. And of course he knows Monte Carlo simulations inside and out!

 

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STUMP THE PM’S!

We love to hear about your tough PM issues, so please hit us up at podcast@pmhappyhour.com and we’ll see if we can help you. If we use your question, we’ll send you a PM Happy Hour coaster you can enjoy at your next happy hour.