Reporting By Survivorship Bias

#MidYearReport  #SurvivorshipBias #SelectionBias #ReportByException #ReportWhatMatters As the mid-year report review for your project’s approaches, consider the type of project reports you are reviewing. Do they include any Survivorship Bias understanding and reporting? Survivorship bias or survival bias is the logical error of concentrating on entities that passed a selection process while overlooking those that did not. This can lead to incorrect conclusions because of incomplete data. These biases involve a reversed understanding of information, leading to incorrect decisions due to […]

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How to Budget EPMO/EPPM – Part1?

Calculation of the annual forecasted cost for budgeting purposes for EPMO and EPPM is a challenge for many Project Based Organisations (PBO). I am not talking here about contracted defined projects which is easy to forecast. I am talking here about permanent staff, shared staff and non-project cost budgeting. We see this also in pre-construction stage where the development of the project studies and design are on progress. We see this mainly in the client’s side, developers, consultants, project management […]

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