An event chain diagram is used to visualize the numerous events and functions, as well as the relationships between them. It is a frequent method used by managers to assess the feasibility of completing a project on time. They represent the influence of numerous global and local events on the project timeline, allowing managers to better comprehend the implications and plan ahead of time. Following the completion of the PERT and Critical path studies, an event chain diagram is usually drawn.
A Gantt chart is commonly used to create an event chain diagram, and some of the rules are as follows:
Project risk relationships can be extremely complicated. Risks can be allocated to various activities and resources, have varying probability and consequences, and have correlations or function as triggers for one another. Because of this complexity, event chain diagrams are advised for visualizing project events and chains.
Also, See: Burn Rate
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