35 lines
1.8 KiB
Markdown
35 lines
1.8 KiB
Markdown
---
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id:
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aliases: []
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title: _How to Measure Anything in Project Management_
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tags:
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- authorship/other-for-now
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- destiny/permanent
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- status/incomplete
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- topic/organization
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dg-publish: true
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---
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# _How to Measure Anything in Project Management_
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> [!quote] [[How to Measure Anything in Project Management - Douglas W. Hubbard & Alexander Budzier & Andreas Bang Leed.pdf#page=112&selection=40,0,41,60|Chapter 4, "Exploration vs. Exploitation"]]
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> The analogy of this to project planning is that we can keep trying to design better solutions to a problem before we commit to it.
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## Project Options
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> [!quote] [[How to Measure Anything in Project Management - Douglas W. Hubbard & Alexander Budzier & Andreas Bang Leed.pdf#page=117|Chapter 4, "Choosing How to Run the Project"]]
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> When a project is proposed for budget approval, planners must include a list of additions and reductions... If the project runs out of budget, then deliverables will be removed from the scope.
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This is different from alternates,
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which are only considered at the time of award.
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## Value of Information
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[[How to Measure Anything in Project Management - Douglas W. Hubbard & Alexander Budzier & Andreas Bang Leed.pdf#page=118|Chapter 4, "How Models Indicate What to Measure"]]
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[Expected value of sample information](https://en.wikipedia.org/wiki/Expected_value_of_sample_information)
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## Estimating Impact under Uncertainty
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> [!quote] [[How to Measure Anything in Project Management - Douglas W. Hubbard & Alexander Budzier & Andreas Bang Leed.pdf#page=170&selection=40,20,46,58|Chapter 5, "Simple Tools for Measuring Uncertainty and Risk"]]
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> There is such a rule, and it is called the "record-breaking probability." It is simply $1/(1+n)$ where $n$ is the number of observations resulting in the various outcomes.
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