Presentation on theme: "Project Management What is it? The management and control of a group of interrelated tasks required to be completed in an efficient and timely manner."— Presentation transcript:
Project Management What is it? The management and control of a group of interrelated tasks required to be completed in an efficient and timely manner Each project is unique in terms of: task structure risk characteristics objectives Management of projects is different from the management of repetitive process designed to produce a series of similar products or outputs (Operations).
Project Management Large-scale projects are characterized by a significant commitment of organizational and economic resources coupled with a high degree of uncertainty
Project Management Here are the main tools you use when managing a project: 1. Time 2. Scope 3. Cost 4. Quality 5. Human Resource 6. Communications 7. Risk 8. Procurement
Project Management Time 1.Define your activities Make a list of what you’ll do in your project. 2.Sequence Activities Diagram all your activities in the sequence you’ll need to do them. 3.Estimate Resources Make a list of all the stuff you’ll need to do your project (vendors, things, food, etc.). 4.Estimate Durations Figure out how long each activity will take. 5.Make a Schedule Put everything together into a schedule. 6.Watch the Schedule Make sure everybody follows the schedule.
Project Management Scope 1.Define Scope This is the detailed description of the work you have to do: a scope statement. 2.Create an Outline Your outline organizes all of your team’s work into work packages, or discrete pieces of work for team members. 3.Control the Scope This is making sure your project doesn’t creep out of scope. 4.Verify the Scope Make sure what you do matches your scope statement.
Project Management Cost 1.Estimate Costs Process Figure out how much each work activity will cost. This can sometimes be tricky because there can be overruns, etc. 2.Determine Budget Estimates are added up and set down. Then you compare the reality to it and try to keep things within budget. 3.Control Cost Process This means tracking the actual work according to the budget to see if any adjustments need to be made. You’ll find there is a real strong relationship between time and money.
Project Management Quality 1.Plan Quality Create a plan of quality 2.Do Quality Assurance Compare the quality of your project with the overall quality standards you use for all your projects. 3.Perform Quality Control Look at each part of your project and inspect it for mistakes.
Project Management Human Resources 1.Develop Human Resource Plan Plan your staffing needs. 2.Acquire a Project Team Put together your team. 3.Develop Project Team Train your team and keep them motivated. 4.Manage Project Team Resolve conflicts.
Project Management Communications 1.Identify who needs to know what This is pretty obvious. 2.Plan Communications Plan how and when you’ll tell them. 3.Distribute Information Tell them. Let them tell you what they need to. 4.Report Performance Report to everyone how
Project Management Risk Things can go wrong. 1.Identify Risks Make a list of all possible risks. 2.Perform Qualitative Risk Analysis Determine risk probability. 3.Perform Quantitative Risk Analysis Assign numerical value to risk. 4.Plan how to Respond 1.Avoid (Do something else). 2.Soften the risk. 3.Transfer (Buy insurance). 4.Accept (Grit your teeth).
Project Management Procurement Buy Stuff. Plan procurements Plan what you purchase. Conduct Procurements Decide who you will buy from, finalize the contract(s). Administer Procurements Keep tabs on your contracts. Close Procurements Confirm the work was done right and all obligations have been filled on both sides.
Project Management Let’s Plan a Wedding Know your Couple –This is called Stakeholder Relations Know your Resources –Band? –Location? –Date? Make a Schedule –When do you make invitations? –When do you rent the hall? (Before you make the invitations!)
Project Management There are tools that make this work: Critical Path Method –Create a guest list –Print invitations –Mail invitations –Wait for RSVPs –Figure menu –Cater wedding
Project Management There are tools that make this work: Critical Path Method –Create a guest list (say it takes 4 weeks) –Print invitations (7 weeks) –Mail invitations (4 weeks) –Wait for RSVPs (2 weeks) –Figure menu (7weeks) –Cater wedding (4 weeks) –Activity… (3 weeks) –Activity… (5 weeks) –Activity… (2 weeks) –Activity… (4 weeks) –Activity… (3 weeks) –Activity… (5 weeks)
Project Management There are tools that make this work:
Project Management There are tools that make this work: Start-Activity 1-Activity 9-Activity 10-Activity 5-Activity 6-Finish = = 21 weeks Start-Activity 1-Activity 2-Activity 3-Activity 4-Activity 5-Activity 6-Finish = = 28 weeks THIS IS THE CRITICAL PATH Start-Activity 7-Activity 8-Activity 11-Activity 12-Activity 6-Finish = = 4 = 20 weeks
Project Management There are tools that make this work: One of the nice things about knowing the Critical Path is you can figure out what extra time you have for your other activities. This extra time is known as “float”. Outside of the Critical Path above, there is float. 7 weeks on one and 8 weeks on the other. This means you can wait up to five or three extra days for each of these tasks to get done. Now a lot of this is pretty obvious isn’t it? But the neat thing about these tools is they help you stay organized when you’ve got 100 things to think about.