Bus 1040 Project Management Week 6,. Agenda Housekeeping Marking for the past 6 weeks. WBS Quiz review Decision Matrix Work through the book case we will use in exam Apply to our exam review Mid term test review Mid Work with your groups. Hand in Executive overview

Group activity/assignments marking – check Web Ct To week 6 Mark Model build2 Data base2 Web presentations2 WBS group activity2 Start up documents2 WBS, Network diagram and GANTT chart 2 Total possible12

Test review- sources of the test material: Test review- sources of the test material: Verzuh as per course outline PowerPoints Supplementary handouts Group exercises Movie on project management Class web sites: e.g. Your questions answered page. YAQ.

How is the Mid term structured? 5 True and False – 10 marks 10 Multiple choice – 30 marks 5 Short answer – 25 marks 3 long answer – 35 marks Total 100. Worth 20% of term mark.

Terms, acronyms and definitions – etc. 1. P.M.I., PMBOK, C.P.M., P.E.R.T. method 2. R.F.P. and the proposals related to project life cycles. 3. Project industry, trends. Reasons, benefits 4. Project success 6 items and 5 action steps 5. Various types stakeholders and their roles. 6. Project selection reasons and methods. Decision Matrix 7. Project Scope – three parts (triangle/equilibrium) 8. Trade offs between time, cost and quality. 9. Documentation: Charter, S.O.W. What goes into each document? 10. The WBS and related documents incl. Predecessors!! 11. Responsibility Matrix. How would you lay it out? What goes where? 12. Estimating methods. Top down, bottom up. Time, materials. 13. What is a baseline in the plan? What does it include?

Management and trends. Operations vs projects. Can you define what qualifies as a project? Acceptance of project management- why does it work? Certification and standards Which industries use it?

Starting the project? Reasons: need, opportunity necessity Meetings, questions (6 w’s) Management techniques: need assessments Stakeholder input Input through R.F.P.’s and proposals Financial and political implications; cost benefits Decision making S.O.W. (Statement of Work) is the contract

Stakeholders 5 different types-review in class. Enter them and their responsibilities on a Responsibility Matrix. You will be given a project scenario and all the needed information.

Statement of Work Purpose, forms, input from whom – various stakeholders S.M.A.R.T. formula for goal setting become the objectives S.O.W. contains the contractual elements of the project. S.O.W. is developed into a Plan which includes: Risk management, WBS, schedules, budgets and Responsibility Matrix’s/s WBS.

Decision Matrix As per the previous exercises in class. We will complete another one on Tues. See the Movie selection finished example on the web site.

Start the planning with Risk management. Why aren’t risk identified in a project – might not get the job? Teams and stakeholders identify risks. Weigh up the severity – impact Weigh up the probability of occurring Include in your plan how to manage the risk Continue to monitor your risks throughout the project. Get reports. Document all of the above and results.

Planning stage Why we plan for a baseline/control Creating a WBS from the S.O.W. Break down project to work package level. Assign work packages to Responsibility M. Estimate the work package time and $ Schedule the packages on Network Diagram Turn calculate critical paths and floats Create GANTT chart from WBS and Network

Estimating and Resources Estimating top down-from management Bottom up – from the team members Estimates are budgeted Resources are determined – people, equipment, materials Sub contractors are hired New Teams (stakeholders) may be added

Last week’s Scheduling warm up TaskPredecessorTime ANone5 BA4 CB, D6 DA2 ED5 FC, E8 E D FC B A Calculate the critical path A, B, C, F, = 23 D, C, F, = 21 D, E, F = 20

Review 1. The definition stage-learnings from your group work on the model build. The longer you take and more input you get from stakeholders the better the plan. 2. Planning, the reasons for it and the benefits. You have a guideline to work to and measurable standards to evaluate progress. 5. You announce the start of the project with a Charter. 6. You take the S.O.W. and start making detailed plans. 6. Risk management strategy. 7. WBS. Task list, predecessors, times, schedules, PERT boxes and GANTT charts. work packages, estimates, Responsibility Matrix’s.

The case we will use in the Project – this one? See page Verzuh p. 128 as an example of a WBS for a project. What would the task list look like? What are the predecessors for the tasks on the Network diagram? The times for this project are on P Could you calculate the critical path? Could you convert the Network diagram into a GANTT chart with correct symbols? What would the Responsibility Matrix look like?

Useful links for study ido.html ido.html

Other suggestions Handouts provided in class Extra tuition time? After class-arrange Practice the Decision Matrix. Review the Hospital Case in Verzuh p