Part 2. 5/ Cheating Charts · It’s going to be quite hard to write about charts without actually drawing them, but I’ll try. · Charts are the #1 tool to fool readers. Grids make an enormous difference when showing data. Vertical axis can be displayed arithmetically (the usual way) or logarithmically (showing the changes in the dependent variable). If one company grows faster than the other – the best way to emphasize it is through a logarithmic grid.
Very resembles juggling budgets at the project inception forecasting capex with contingency pockets. Embedding contingency in various levels gives better safety net rather than taking bare estimate and apply total contingency over the top, those PM who know it use it at leverage. I.e if original vendor cost $100k adding vendor variance 15% and then 15% project allowed variance will take us to $132k max cost whereas if 30% was taken over the original $100 will give $130. If the are multiple levels the end variance might be significant. Logarithmic graphs use for making decisions commonly to magnify the options deference but for the regular reporting and controls only regular axis.
Very resembles juggling budgets at the project inception forecasting capex with contingency pockets. Embedding contingency in various levels gives better safety net rather than taking bare estimate and apply total contingency over the top, those PM who know it use it at leverage. I.e if original vendor cost $100k adding vendor variance 15% and then 15% project allowed variance will take us to $132k max cost whereas if 30% was taken over the original $100 will give $130. If the are multiple levels the end variance might be significant. Logarithmic graphs use for making decisions commonly to magnify the options deference but for the regular reporting and controls only regular axis.