Welcome to Prince2 ? and Project Management Forum
.: Prince2 ? and Project Management Forum :.
 Home | Guest Book | Forums | Contact Us | Submit News | Search
   Welcome Guest! Click here to create an account. March 09, 2014  
 .:Modules
· Home
· Content
· FAQ
· Forums
· Recommend Us
· Search
· Statistics
· Submit Feedback
· Submit News
· Surveys
· Web Links
· Your Account


 .:Who's Online
There are currently, 175 guest(s) and 11 member(s) that are online.

You are Anonymous user. You can register for free by clicking here


 .:Search




 .:Prince2 ? General
Hopefully you will find this portal to be extremely valuable. If you have any suggestions or comments however, please make them via the feedback option above.

Important Note: Prince2 ? is a trademark of the Office of Government Commerce


 .:Useful Info
OGC? - The owners of Prince2 ?
ITIL? ITIL Wiki?
IT Infrastructure Lib?
CMI - Chartered Management Institute


Prince2 ? and Project Management Forum: Forums

International Prince2 User Forum :: View topic - Tolerance
 Forum FAQForum FAQ   SearchSearch   UsergroupsUsergroups   ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Tolerance

 
Post new topic   Reply to topic    International Prince2 User Forum Forum Index -> Compliance and Certification
View previous topic :: View next topic  
Author Message
Bob
Newbie
Newbie


Joined: Apr 23, 2005
Posts: 28

PostPosted: Mon May 09, 2005 6:15 am    Post subject: Tolerance Reply with quote

Hi All

When talking about tolerance for cost and time you get for example +10% and -5%. Why would there be a negative tolerance level limit when dealing cost, surly the lower the cost the better?

Cheers
Back to top
View user's profile
alfred
Newbie
Newbie


Joined: Apr 20, 2005
Posts: 51

PostPosted: Thu May 12, 2005 3:16 am    Post subject: Re: Tolerance Reply with quote

Bob wrote:
Hi All

When talking about tolerance for cost and time you get for example +10% and -5%. Why would there be a negative tolerance level limit when dealing cost, surly the lower the cost the better?

Cheers


Some idea.

1. Making wrong budget is not that good. Company may use that money for other usages - that means the Project draws (reserves) too many resources that it does not require ! If we were executive, we should be make good use of resources.
2. Another basic principle is "what is planning?". If your plan deviates from "reality" ... so much, it is not a plan, it is just a guessing. You cannot be sure that your guessing is good everytime.
3. Tolerance does NOT apply to $$$ or time ONLY. For instance, if the project completes well ahead, however, it may be part of a programme. The "too early" completion time may be harmful to the programme. For instance, a civil works project. The structure may get rust and need to replace.
Back to top
View user's profile
Bob
Newbie
Newbie


Joined: Apr 23, 2005
Posts: 28

PostPosted: Thu May 12, 2005 6:15 am    Post subject: Reply with quote

Ahhh, Perfect. Now it makes sense.
Thanks
Back to top
View user's profile
alfred
Newbie
Newbie


Joined: Apr 20, 2005
Posts: 51

PostPosted: Fri May 13, 2005 2:59 am    Post subject: Reply with quote

Bob wrote:
Ahhh, Perfect. Now it makes sense.
Thanks


No problem You are welcome.

Actually I want to be a PRINCE2 trainer or consultant however, I lack the money...


But it is my pleasure to share my experience with you.
Back to top
View user's profile
Bob
Newbie
Newbie


Joined: Apr 23, 2005
Posts: 28

PostPosted: Fri May 13, 2005 6:19 am    Post subject: Reply with quote

Why do you need money to become a trainer?

Do you want to keep in touch via skype?
Back to top
View user's profile
PM
Guest





PostPosted: Fri May 13, 2005 7:24 am    Post subject: Re: Tolerance Reply with quote

alfred wrote:
Bob wrote:
Hi All

When talking about tolerance for cost and time you get for example +10% and -5%. Why would there be a negative tolerance level limit when dealing cost, surly the lower the cost the better?

Cheers


Some idea.

1. Making wrong budget is not that good. Company may use that money for other usages - that means the Project draws (reserves) too many resources that it does not require ! If we were executive, we should be make good use of resources.
2. Another basic principle is "what is planning?". If your plan deviates from "reality" ... so much, it is not a plan, it is just a guessing. You cannot be sure that your guessing is good everytime.
3. Tolerance does NOT apply to $$$ or time ONLY. For instance, if the project completes well ahead, however, it may be part of a programme. The "too early" completion time may be harmful to the programme. For instance, a civil works project. The structure may get rust and need to replace.



Actually I beleive that the really issue with underspend is the inherrent suggestion that if you planned it would take ?X.XX and it took ?X - 10% that there may be a quality issue. The Board shoudl assess this and direct the Project Assurance team to review the quality of the delivered products.
Back to top
alfred
Newbie
Newbie


Joined: Apr 20, 2005
Posts: 51

PostPosted: Fri May 13, 2005 11:00 pm    Post subject: Re: Tolerance Reply with quote

PM wrote:
alfred wrote:
Bob wrote:
Hi All

When talking about tolerance for cost and time you get for example +10% and -5%. Why would there be a negative tolerance level limit when dealing cost, surly the lower the cost the better?

Cheers


Some idea.

1. Making wrong budget is not that good. Company may use that money for other usages - that means the Project draws (reserves) too many resources that it does not require ! If we were executive, we should be make good use of resources.
2. Another basic principle is "what is planning?". If your plan deviates from "reality" ... so much, it is not a plan, it is just a guessing. You cannot be sure that your guessing is good everytime.
3. Tolerance does NOT apply to $$$ or time ONLY. For instance, if the project completes well ahead, however, it may be part of a programme. The "too early" completion time may be harmful to the programme. For instance, a civil works project. The structure may get rust and need to replace.



Actually I beleive that the really issue with underspend is the inherrent suggestion that if you planned it would take ?X.XX and it took ?X - 10% that there may be a quality issue. The Board shoudl assess this and direct the Project Assurance team to review the quality of the delivered products.


Actually I have the experience while I worked for a government project.

My experience tells me that a negative tolerance is not necessary means that "bad" quality. Since we must pass the Quality Check before the Product is accepted unless the QC is badly specified. If the QC is not that good, no matter how large is the actual deviation, the Product is bad in quality, often.

I had cases study that an infrastructure project completed well ahead of the schedule, almost 9 months. But the quality is exceptional good. The Contractor and the Client works inharmony that they always reviewed what kind of new technology etc should be adopted to implement the project. Even afterwards, when the Client implemented some others infrastructure projects, they completed it in a much shorter time than planned.

Even right now I am implementing one project and the estimated completion time will be well ahead -- due to a new technology is released and it improves the way we work.
Back to top
View user's profile
alfred
Newbie
Newbie


Joined: Apr 20, 2005
Posts: 51

PostPosted: Fri May 13, 2005 11:08 pm    Post subject: Reply with quote

Bob wrote:
Why do you need money to become a trainer?

Do you want to keep in touch via skype?


I am not a British... If I want to become a trainer or consultant, I have to fly to UK and take the personal assessment etc. So ....

Twisted Evil Twisted Evil

My time zone is + 8 !

May be we could talk later.
Back to top
View user's profile
Bob
Newbie
Newbie


Joined: Apr 23, 2005
Posts: 28

PostPosted: Fri May 13, 2005 11:52 pm    Post subject: Reply with quote

There is always an issue I suppose
Back to top
View user's profile
mike79
Newbie
Newbie


Joined: Jul 13, 2007
Posts: 2

PostPosted: Thu Jul 19, 2007 12:50 am    Post subject: Reply with quote

Quality is another issue, meaning that if you complete your project 3 months earlier then the planned day surely the plan wasn't a great one and personally I will be checking if the product that you have delivered is the right one or in term of quality is exactly what you have been ask to produce.
Back to top
View user's profile
Display posts from previous:   
Post new topic   Reply to topic    International Prince2 User Forum Forum Index -> Compliance and Certification All times are GMT + 10 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum

Powered by phpBB 2.0.8 © 2001 phpBB Group
phpBB port v2.1 based on Tom Nitzschner's phpbb2.0.6 upgraded to phpBB 2.0.4 standalone was developed and tested by:
ArtificialIntel, ChatServ, mikem,
sixonetonoffun and Paul Laudanski (aka Zhen-Xjell).

Version 2.1 by Nuke Cops 2003 http://www.nukecops.com

Forums ©

 

Logos/trademarks property of their owners. Comments property of their posters. Everything else is ? 2004 P2uG: The Prince2 Forum
You can syndicate our Prince3 news using backend.php or perhaps ultramode.txt. International Prince2 PM Forum.
 
Hosting Support