Overview of PM Pitfalls and Advanced Controls | Schedule Recovery, Multi-Project PM & Continuous Improvement | Curriculum

Key Takeaways

Five failures: planning, optimism, creep, communication, monitoring.
Planning Fallacy causes systematic underestimation—use reference class forecasting.
Advanced controls: Monte Carlo, rolling wave, stage gates.
Consistent practice prevents most failures.

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Test Your Knowledge

1.What is the most common project management pitfall for renovation investors?

Spending too much on management toolsInadequate upfront planning leading to reactive decision-making throughout the projectBeing too strict with the contractorOver-documenting everything

2.What advanced control technique helps investors manage multiple simultaneous projects?

Hiring more contractorsPortfolio-level dashboard tracking status, budget, and resource allocation across all projectsWorking longer hoursDelegating all decisions