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WEEK 5 Introduction to Project Management. Agenda Hybrid Wk4 Review Phase 2: Planning ◦ Compressing the Schedule ◦ Risk Analysis Phase 3: Executing.

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Presentation on theme: "WEEK 5 Introduction to Project Management. Agenda Hybrid Wk4 Review Phase 2: Planning ◦ Compressing the Schedule ◦ Risk Analysis Phase 3: Executing."— Presentation transcript:

1 WEEK 5 Introduction to Project Management

2 Agenda Hybrid Wk4 Review Phase 2: Planning ◦ Compressing the Schedule ◦ Risk Analysis Phase 3: Executing

3 Hybrid – Chapter 2 Any ?’s from last week? Check completion

4 REVIEW

5 RACI Review What is RACI? What is the RACI matrix used for? How would you describe it?

6 Communication Plan Review What is the communication plan? How would you describe it? Note: We will discuss our tips for organizing and leading an effective meeting later

7 AON Review What is AON? What is it used for? How would you describe it? What are the general rules for creating one? Still have questions – look at the tutorial found at

8 Critical Path Review How would you describe it? What’s the purpose of knowing the critical path? Can there be more than one critical path?

9 COMPRESSING THE SCHEDULE

10 Methods of Compressing Crashing ◦ Look at alternatives that provide the maximum compression for the least cost Fast Tracking ◦ Compressing the project schedule by overlapping activities that would normally be done in sequence INCREASES RISK

11 Increasing Resources Decreasing the time it takes to perform individual activities by increasing the number of people working on the activity ◦ Example:  If it takes Joe 4 hours to complete  Logically it would take Joe & Mary 2 hours to complete

12 Increasing Resources - Cons Consider the following ◦ New sources are not familiar with the tasks.: less productive than current team members ◦ Who will guide the new member along the learning curve? ◦ Being available != being qualified ◦ May increase costs

13 Task Splitting Aim to take a large task and split it into 2 or more smaller tasks, ◦ Each of which could start ahead of the completion of the previous one. Considerations: ◦ Task must be on critical path ◦ Cannot use same resources ◦ May cause new critical path

14 RISK MANAGEMENT

15 Risk Management Identifies threats that can affect the project Planning to proactively deal with the threats Risks should be considered for: ◦ Health & Safety ◦ Environmental ◦ Legal ◦ Financial

16 Risk Identification Techniques 1. Interview with SME’s 2. Brainstorming 3. Delphi Technique 4. Nominal Group Technique 5. Crawford Slip 6. Analogy 7. Checklist, forms, and templates 8. SWOT 9. Cause & Effect Diagram

17 Risk Identification Workshop In groups, research the technique assigned ◦ What is it? ◦ Why use this method? (pros &/or cons) ◦ How it is accomplished? ◦ Prepare a mini pptx presentation ◦ Ensure each member of the team has their full name listed in the presentation. 12 minutes 12 minutes to complete & to me.

18 Project Risk Review Type of ReviewQuestions StakeholdersWhat could upset them? What are there priorities? Communication PlanWhere could poor communication cause trouble? ScheduleWhat milestones might be troublesome? Resource DemandAt what point are people overloaded?

19 Risk Identification Identify the risk event(s) Keep them realistic Example:  Resources may be constrained due to team members working on other projects  Significant schedule delays may occur due to team being unfamiliar with the new application or process

20 Qualitative Risk Analysis Risk DescriptionProbability (10% - 90%) Impact (H 3, M 2, L 1) Severity = P * I A Resources may be constrained due to team members working on other projects 70%21.4 B Significant schedule delays may occur due to team being unfamiliar with the new application or process 80%32.4 Use Severity to identify the risks worth planning

21 Risk Response Planning Risk Response PlanSchedule Adjustment Cost Adjustment A Schedule bi-weekly meetings with sr management to provide status updates and resolve any resource conflict + 20 hrs$200/hr/resource B Send sr team member on training (before implementation) Contract with vendor for consulting services during the 1 st week of planning + 40 hrs + 0 hrs $2,000 $9,000

22 PROJECT EXECUTION

23 Executing Projects “Time to get to business and ‘just get it done’ “ InitiatingPlanning Executing ControllingClosing

24 Executing The process of coordinating the people and other resources to carry out the plan.

25 Executing Phase Efforts Are now: ◦ Participating ◦ Observing ◦ Analyzing the work done

26 Executing Processes Includes: Team development  Ensure your team knows documentation needs and conventions like naming, storage, retrieval and control

27 Hybrid / Homework Chapter 3

28 Team Project Let’s Plan a Wedding In groups of up to 3 people Use guide/templateguide/template

29 Quiz Time


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