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The Nature of Project Management zCharacteristics of Projects: purpose, life cycle, interdependencies, uniqueness, and conflict. zProject Management Process:

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Presentation on theme: "The Nature of Project Management zCharacteristics of Projects: purpose, life cycle, interdependencies, uniqueness, and conflict. zProject Management Process:"— Presentation transcript:

1 The Nature of Project Management zCharacteristics of Projects: purpose, life cycle, interdependencies, uniqueness, and conflict. zProject Management Process: planning (work breakdown structure), scheduling, and controlling. zSelecting the Project Manager: credibility, sensitivity, ability to handle stress, and leadership. zBuilding the Project Team: Forming, Storming, Norming, and Performing. zPrinciples of Effective Project Management: direct people individually and as a team, reinforce excitement, keep everyone informed, manage healthy conflict, empower team, encourage risk taking and creativity. zProject Metrics: Cost, Time, Performance

2 Work Breakdown Structure 1.0 Move the hospital (Project) 1.1 Move patients (Task) Arrange for ambulance (Subtask) Prepare patients for move Box patients personnel effects 1.2 Move furniture Contract with moving company

3 Project Management Questions zWhat activities are required to complete a project and in what sequence? zWhen should each activity be scheduled to begin and end? zWhich activities are critical to completing the project on time? zWhat is the probability of meeting the project completion due date? zHow should resources be allocated to activities?

4 Tennis Tournament Activities Activity Description Immediate Duration Designation Predecessor (days) Negotiate for Location A - 2 Contact Seeded Players B - 8 Plan Promotion C A 3 Locate Officials D C 2 Send RSVP Invitations E C 10 Sign Player Contracts F B,C 4 Purchase Balls and Trophies G D 4 Negotiate Catering H E,F 1 Prepare Location I E,G 3 Tournament J H,I 2

5 Notation for Critical Path Analysis Item Symbol Definition Activity duration t The expected duration of an activity Early start ES The earliest time an activity can begin if all previous activities are begun at their earliest times Early finish EF The earliest time an activity can be completed if it is started at its early start time Late start LS The latest time an activity can begin without delaying the completion of the project Late finish LF The latest time an activity can be completed if it is started at its latest start time Total slack TS The amount of time an activity can be delayed without delaying the completion of the project

6 Tennis Tournament Activity on Node Diagram J2J2 B8B8 START A2A2 C3C3 D2D2 G4G4 E 10 I3I3 F4F4 H1H1 TS ESEF LSLF

7 Incorporating Uncertainty in Activity times A M D B F(D) P(DB) =.01 optimistic most pessimistic likely TIME

8 Formulas for Beta Distribution of Activity Duration Expected Duration Variance Note: (B - A )= Range or

9 Activity Means and Variances for Tennis Tournament Activity a m b ET Variance A /36 B /36 C /36 D /36 E /36 F /36 G /36 H I /36 J

10 Uncertainly Analysis Assumptions 1. Use of Beta Distribution and Formulas For D and V 2. Activities Statistically Independent 3. Central Limit Theorem Applies ( Use “student t” if less than 30 activities on CP) 4. Use of Critical Path Activities Leading Into Event Node Result Project Completion Time Distribution is Normal With: For Critical Path Activities

11 Completion Time Distribution for Tennis Tournament Critical Path Activities D V A 2 4/36 C 3 4/36 E /36 I 3 36/36 J 2 0 = /36 = 5.2 =

12 Question What is the probability of an overrun if a 24 day completion time is promised? 24 P (Time > 24) = =.04 or 4% Days

13 Activity Cost-time Tradeoff C C*C* D*D* D Activity Duration (Days) Normal Crash Slope is cost to expedite per day Cost

14 Cost-Time Estimates for Project Activity Normal Time Crash Time Normal Cost Crash Cost A 21$6$10 B 52$9$18 C 43$6$8 D 31$5$9

15 Progressive Crashing A B C D

16  Using Normal Times, What is the critical path? A-B-D : 10 days (Critical Path) A-C-D : 9 days  Using Normal Times, How long is the project expected to take? Critical Path Time : 10 days  Using Normal Times, How much will the project cost? Normal Cost to complete A,B,C,D = =$26

17 Progressive Crashing Current CP Completion Time Cuts Additional Cost Completion Time After Cuts Total Cost ABD $26 ABD10D cut 1$29$28 ABD9D cut 1$28$30 ABD8B cut 1$37$33 ABD ACD 7A cut 1$46$37 ABD ACD 6 B cut 1 C cut 1 $3 $2 5$42


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