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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
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In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

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Home » Glossary » What is Project Tolerance
What is Project Tolerance  

What is Project Tolerance


Project Tolerance is a necessary feature of any project’s plan, as it recognizes allowance of certain variation in duration, budget or quality, to which the project is approved as still successful. It is not exactly a kind of buffer which project managers prepare for smoothing over their mismanagements or inefficiency, but rather it is a tool that we may use to address indispensable healthy variation in results of any project (even with the most accurate estimation). Project tolerance is something that we need to justify for any project model to make it completely robust.

 The fact is that we never can predict all possible risks, factors and events waiting for project performers on the way towards their project goals, so we need to envisage a level of project tolerance to which we agree to consider the project as successful and efficient, even though its results (duration, budget or quality) do not meet the preplanned requirements in “exactly-to-a-tee” manner. Determining a project tolerance will help the project stakeholders to avoid a problem of overcontrol and “false alarms” when they try to suit the strict limits of the plan in all-out efforts.


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