Ten Years of How to Measure Anything

On August 3, 2007, the first edition of How to Measure Anything was published.  Since then, Doug Hubbard has written two more editions, three more books, in eight languages for a total of over 100,000 books sold.  How to Measure Anything is required reading in several university courses and is now required reading for the Society of Actuaries Exam prep.

Over the years, Hubbard Decision Research has completed over 100 major measurement projects for clients in several industries and professions.  Clients included The United Nations, the Department of Defense, NASA, a dozen Fortune 500 companies, and several Silicon Valley startups.

Just since the first book, Hubbard Decision Research has trained over 1000 people in the Applied Information Economics methods.  HDR has also been given several new measurement challenges including the following:

  • drought resilience in the Horn of Africa
  • the risk of a mine flooding in Canada
  • the value of roads and schools in Haiti
  • the risk and return of developing drugs, medical devices and artificial organs,
  • the value and risks of new businesses
  • the value of restoring the Kubuqi Desert in Inner Mongolia
  • the value and risks of upgrading a major electrical grid
  • new cybersecurity risks
  • ….just to name a few

We have a lot going on in this anniversary year.  Here are some ways you can participate.

  • Have you been using methods from How to Measure Anything to solve some critical measurement problem?  Let us know your story.  We will be giving the top 3 entries up to $1,000 worth of How to Measure Anything webinars including your choice of any of the “Intro” webinars, Calibration training, and AIE Analyst training or time on the phone with Doug Hubbard.  Send your entry to HTMA@hubbardresearch.com by Friday, August 11.
  • We are continuing our research for a future topic “How to Measure Anything in Project Management”  If you are in the field of project management, you can help with the research by filling out our project management survey.  In exchange, you get a discount on project management webinars and a copy of the final report.
  • We are offering an anniversary special for books and webinars for a limited time.
  • See Doug Hubbard team up with Sam Savage in Houston and DC for our joint Probabilitymanagement.org seminars on modeling uncertainty and reducing uncertainty with measurements.

 

Three Critical Project Management Measurements You Probably Don’t Track

Sign up for a discount for the webinar “How to Measure Anything in Project Management” presented in person by Doug Hubbard.  Just take a project management survey, and you will also get the summary report of the survey findings.  See details at the end of this article.

Of all the project-management-related measurements a firm could make, there are three that are particularly critical and yet almost never measured.  Each of these are measurements my team have made many times across many types of projects even though some might consider these to be “immeasurable.”

None of these measurements are new.  Mature quantitative methods exist and have been applied to for each of these measurement problems.  Also, each of these methods can be done using nothing more than the statistical functions available in Excel spreadsheets and the methods are simple enough that we cover them in a training course that takes one day.

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Five Data Points can Clinch a Business Case [article]

Pop quiz: which of the following statements about decisions do you agree with:

  1. You need at least thirty data points to get a statistically significant result.
  2. One data point tells you nothing.
  3. In a business decision, the monetary value of data is more important than its statistical significance.
  4. If you know almost nothing, almost anything will tell you something.

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Project Management/Project Risk is the #1 Measurement Challenge

According to our recently completed “Measurement Challenges” survey, project risk and project management-related issues are the #1 most frequently identified measurement challenges, followed closely by change management and organizational transformation.  The survey also showed that while only half have received training to address these problems, the majority feel they need training in statistical methods or even the analytical methods provided in Excel. This is a brief summary of the findings of that survey. (more…)

Hunting Wolves in Wisconsin

Given the current pricing of wolf hunting licenses in Wisconsin, it is unlikely that revenue from the wolf licenses offset the negative effects wolves have from killing deer, livestock, and dogs. However, there are two caveats to this statement: first, to make this assessment definitive depends on accurately estimating the worth of the life of a deer in Wisconsin, and may depend on more accurately estimating the monetary equivalent loss for a family who has had a dog killed by a wolf. (more…)

Feeling the Beat

Oracle, PROFIT, 2012

“Google searches, Twitter feeds, and even Amazon sales ranks produce a lot of data—data that can be used to identify trends in real time and help business leaders get ahead. ‘There’s a revolution in data about society,’ says Douglas Hubbard, author of Pulse: The New Science of Harnessing Internet Buzz to Track Threats and Opportunities (Wiley, 2011). Here Hubbard tells Profit what the pulse is—and how to find it.” [view article]