What is Expected Monetary Value? (EMV)

In this video, I answer the question, what is Expected Monetary Value, EMV? And we look at its use in risk management and decision theory.

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Decision Making, Project Risk Management

Better Decision-making and More Robust Choices – Top 10 Tips

The test of a ‘good’ decision is not the outcome. Here are ten tips to strengthen your decision-making process.

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Decision Making, Effective Project Manager, Project Management Tips

Failing Project: Do You Know When it’s Time to Pause Your Project?

It’s important to know when it’s time to stop – or at least pause, your project. So, we’ll look at all the reasons why you may want to do so.

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Decision Making

Make Your Project Estimation More Reliable, Using the PERT Method

One of the hardest tasks for Project Managers is Project Estimation: predicting the future, despite the uncertainty. Meet the PERT method.

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Decision Making, Project Budget Management, Project Management Tools and Techniques, Project Planning, Project Schedule Management

What is the Delphi Method? And How to Use the Delphi Method | Video

The Delphi method is a structured way to pool the opinions of experts to reach a solution. It helps with forecasting and can overcome bias.

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Decision Making, Project Management: What is...

Avoid Sunflower Bias: Critical PM Priority | Video

Sunflower Bias is when we turn to face the ‘brightest’ source in the room – and allow them to influence us beyond the rigor of their arguments.

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Decision Making, Project Management Tips, Thoughts for Project Managers

What is Group Think? …and How to Prevent it | Video

Group Think is nasty. It leads to poor decisions… sometimes dangerous ones. So Project Managers need to know what it is, how it happens, and how to prevent it.

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Decision Making, Project Management: What is...

What is Opportunity Cost? | Video

There’s an old saying: ‘Time is money’. When working on one thing, you lose the chance to use your time more productively. It’s all about Opportunity Cost.

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Decision Making, PMI Talent Triangle: Business Acumen, Project Benefits Management, Project Business Case, Project Governance, Project Management: What is...

What is Sunk Cost? …and the Sunk Cost Fallacy? | Video

What is Sunk Cost? …and the Sunk Cost Trap, or Sunk Cost Fallacy? It’s an important concept for project management. In this video, I tell you what it is.

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Decision Making, Important ideas, Project Governance, Project Management Tips, Project Management: What is...

How to Handle a Difficult Project Sponsor: [7 Different Types]

A common challenge is how to handle a difficult project sponsor. We’ll look at seven types of difficult project sponsor, and strategies for handling them.

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Advice for Project Managers, Communication Skills, Decision Making, Leadership Skills, Project Governance, Project Sponsorship