Project Value at Risk (PVaR (TM)): Connecting Risks to Business Value Outcomes
Project professionals and Earned Value practitioners in particular realise the great value that the right indicator and approach could add to managing a project.
But have we become too focused on our project management terminology and goals that other in the organization are finding it hard to relate? We’ve all had the experience of sitting down with a finance analyst and try to explain our indicators again and again.
PVaR™ is an extension to the VaR (Value at Risk) indicator, widely used in finances.
PVaR™ answers some of the most significant questions in project management by using only 3 well know and widely accepted figures: confidence level, project phase and money or schedule. It’s a fresh way of thinking beyond the project barriers to allow a data oriented fruitful conversation between project professionals and others.
PVaR™ takes us one step closer to the data revolution that’s coming our way.