PRIMMS-An Exciting New Project Management Tool and Approach
Milestone Planning and Research Inc. and Scientific Computing Associates have partnered to bring PRIMMS to market. PRIMMS is an exciting risk management product that takes project management to the next level of effectiveness. The idea for the tool was created by a professional project manager having years of experience in managing large scale, complex technology projects and who was in search of a “better way”. Until now project risk management has been a dismal and haphazard science. Tools such as Monte Carlo are cumbersome, academic and seldom make a difference on a project. Risk Registers are the typical tool of choice, but how reliable and valid are they on large, complex projects where even the most vigilant project managers can be easily blindsided? And are risk registers really anything more than a glorified list that reflects only the limited viewpoint of a single individual on a project?
PRIMMS makes the project management process more efficient during the execution phases of a project. It orients the team to project milestone objectives and sufficiency criteria. It also focuses the team on the “true critical path” which is unobservable during the planning phases of the project.
PRIMMS is a web based tool containing a patent pending process that captures the “voice of the team” based on pari-mutuel forecasting techniques that result in a consensus probability measure of reaching sufficiency criteria on project milestones. The PRIMMS process identifies mismatches between the project plan and the reality of unfolding, unpredictable events arising during the execution phases of a project. PRIMMS enables Quality Gate management (i.e. stage gates), and it provides a variety of risk identification and management tools and reports.
The tool builds an electronic risk register, and it provides a wealth of risk management reports including auto‐emailing of weekly risks, risk bubble charts, risk escalation charts, milestone slip chart as well as milestone risk trend projection charts. Depending upon the project situation PRIMMS can be used as a standalone project management system or it can be used to augment standard tools such as MS Project. PRIMMS builds upon the Observe‐Orient‐Decide‐Act approach (OODA Loop) created by military strategist John Boyd. The standard cybernetic approach to project management can be too slow and reactive on complex projects. Whereas, the PRIMMS approach is proactive and reduces the chances of the project manager being blindsided. PRIMMS improves the effectiveness of team members and other stakeholders involved in project execution. It keeps mismatches between plan and reality (i.e. risks) visible to the project management and governance process, and it helps to quickly reconcile those mismatches and keep the team focused on the critical path through key statistics, collaboration, and communication.
For a more detailed presentation of the PRIMMS engine, please refer to the document PRIMMS Engine: Using Capitalism and Free Market Principles to Guide Project Teams.
PRIMMS will forever change the way risks are managed on technology projects. Refer to www.milestoneplanning.net to learn how you can take your project to the next level and get started with PRIMMS or contact SCA at firstname.lastname@example.org. For pricing and order information please refer to the PRIMMS Order Form.