scoring models

This is the final installment of my Project Portfolio Management infographics describing PPM models in various industries. This particular post presents aggregate statistics from a variety of industries: energy, logistics, financial, government, pharma, product development, professional services and telecom.

For more information please see my book  “Project Portfolio Management in Theory and Practice: Thirty Case Studies from around the World” that has just been released by Auerbach Publications.

About the Author

Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting is an internationally acclaimed expert and speaker in the areas of project/portfolio management, scope definition, process improvement and corporate training. Jamal Moustafaev has done work for private-sector companies and government organizations in Canada, US, Asia, Europe and Middle East.  Read Jamal’s Blog @ www.thinktankconsulting.ca

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Jamal is an author of three very popular books: 

I have got some exciting news recently! My third book “Project Portfolio Management in Theory and Practice: Thirty Case Studies from around the World” has just been released by Auerbach Publications.

So, to commemorate this event, I will be publishing a series of infographics dedicated to project portfolio management models in various sectors. Todays industry is Telecommunications.

About the Author

Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting is an internationally acclaimed expert and speaker in the areas of project/portfolio management, scope definition, process improvement and corporate training. Jamal Moustafaev has done work for private-sector companies and government organizations in Canada, US, Asia, Europe and Middle East.  Read Jamal’s Blog @ www.thinktankconsulting.ca

• Please follow me on Twitter: 
• Like our page on Facebook: 
• Connect with me on LinkedIn: 
• Subscribe to my RSS feed: 

Jamal is an author of three very popular books: 

I have got some exciting news today! My third book “Project Portfolio Management in Theory and Practice: Thirty Case Studies from around the World” has just been released by Auerbach Publications.

So, to commemorate this event, I will be publishing a series of infographics dedicated to project portfolio management models in various sectors. Todays industry is Product Development.

About the Author

Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting is an internationally acclaimed expert and speaker in the areas of project/portfolio management, scope definition, process improvement and corporate training. Jamal Moustafaev has done work for private-sector companies and government organizations in Canada, US, Asia, Europe and Middle East.  Read Jamal’s Blog @ www.thinktankconsulting.ca

• Please follow me on Twitter: 
• Like our page on Facebook: 
• Connect with me on LinkedIn: 
• Subscribe to my RSS feed: 

Jamal is an author of three very popular books: 

I am continuing with with the special project portfolio management releases dedicated to the publishing of my third book  “Project Portfolio Management in Theory and Practice: Thirty Case Studies from around the World”. Todays PPM topic is the pharma industry.

About the Author

Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting is an internationally acclaimed expert and speaker in the areas of project/portfolio management, scope definition, process improvement and corporate training. Jamal Moustafaev has done work for private-sector companies and government organizations in Canada, US, Asia, Europe and Middle East.  Read Jamal’s Blog @ www.thinktankconsulting.ca

• Please follow me on Twitter: 
• Like our page on Facebook: 
• Connect with me on LinkedIn: 
• Subscribe to my RSS feed: 

Jamal is an author of three very popular books: 

I have got some exciting news today! My third book “Project Portfolio Management in Theory and Practice: Thirty Case Studies from around the World” has just been released by Auerbach Publications.

So, to commemorate this event, I will be publishing a series of infographics dedicated to project portfolio management models in various sectors. Todays industry is Government Sector.

About the Author

Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting is an internationally acclaimed expert and speaker in the areas of project/portfolio management, scope definition, process improvement and corporate training. Jamal Moustafaev has done work for private-sector companies and government organizations in Canada, US, Asia, Europe and Middle East.  Read Jamal’s Blog @ www.thinktankconsulting.ca

• Please follow me on Twitter: 
• Like our page on Facebook: 
• Connect with me on LinkedIn: 
• Subscribe to my RSS feed: 

Jamal is an author of three very popular books: 

Let us conduct a psychological experiment. Which formula do you think will yield a more precise and accurate result:

or

I guarantee that the majority of the readers will select the second formula as the one that would provide the best result. Unfortunately nothing can be further from the truth because any formula is as good as the data going into it. Some of you may have heard the following expression used by statisticians:

Garbage in, garbage out

It basically means that, no matter how complicated the formula is, if you “infuse” it with inaccurate data, the model will produce an inaccurate answer. Having said that take a closer look at the formulas above: the first model only has two ingredients, while the second one has multiple variables. Hence with a larger number of variables we end up with more room for estimation errors.

Why did I start this article with such a strange example? I have recently taught a project portfolio management course in London, UK and the following conversation took place between a Portfolio Manager of a large utility company and your humble servant:

PM: Oh, our executives will never sign up for PPM. We tried it before and it didn’t work

Me: Why didn’t it work?

PM: Well take a look here … (proceeds to show me a very complicated spreadsheet that incorporates not one, not two, but three scoring models for different types of projects at the same company. In order to assess the project proposal one has to answer several dozen questions by selecting appropriate choices from the dropdown menus. Once the choices are made, the spreadsheet “tells” you which scoring model to use. The models are also far from simple; close to a dozen scoring categories with five different potential scores for each variable …)

Me: So, did you use that model?