Analytical Techniques

Analytical Techniques

Due to environmental factors, a project execution may vary from the plan. It is the project manager’s responsibility to identify the amount of variance in comparison to the original plan, determine the root cause, and forecast potential outcomes considering the amount of variance and environmental variables. This work is called “Analytical Techniques”. In PMBOK this is defined as tool and technique. Below is a list of examples of Analytical Techniques.

1. Regression Analysis
2. Grouping Methods
3. Causal Analysis
4. Root Cause Analysis
5. Forecasting Methods (time series, scenario building, simulation etc)
6. Failure Mode and Effect Analysis (FMEA)
7. Fault Tree Analysis
8. Reserve Analysis
9. Trend Analysis
10. Earned Value Management
11. Variance Analysis

Variance Analysis is Tool & Techniques in following PMBOK Processes

1. Monitor and Control Project Work
2. Close Project or Phase
3. Plan Schedule Management
4. Plan Cost Management
5. Plan Risk Management
6. Conduct Procurements
7. Plan Stakeholder Management