Project Management in Practice OPMA 5364 Project Management Introduction David Weltman, PhD

Outline: Responsibilities / Requirements /Grading Group Projects Part 1: The World of Project Management Part 2: The Manager, Organization, & Team Part 3: Planning the Project Part 4: Budgeting the Project Part 5: Scheduling the Project Part 6: Allocating Resources to the Project Part 7: Monitoring & Controlling the Project Part 8: Evaluating & Terminating the Project Cases Guest Speakers

Responsibilities / Requirements / Grading

Group Project More information about the project is on the syllabus. Your group project for the course will be to develop a plan for starting a new small or mid-sized business of your choice. The purpose of the group project is to give you the opportunity to plan all aspects of a new project, and to organize and coordinate all the necessary activities within your group to accomplish this group project (e.g., which tasks are needed, how to divide up the tasks, who in your group will do each task, etc.). Your group must decide what type of business to start, develop performance objectives/goals, determine personnel needs, determine resource requirements, develop budgets (for startup activities and for annual ongoing operations), develop an implementation schedule, develop annual revenue and profit projections for 5 years, and conduct a risk analysis. More information about the project is on the syllabus.

Schedule The revised schedule will be updated on the class website.

Part 1: The World of Project Management Introduction to project management Project goals, objectives, tradeoffs Project life cycles How are projects selected Selection exercise / case

Part 1: The World of Project Management Sunday 8/29/2010

Part 2: The Manager, the Organization, and the Team Selecting the project manager Roles of a project manager Project management as a profession Project Management Institute (PMI) Projects and the parent organization The project team Tips for managing meetings

Part 3: Planning the Project Contents of a project plan Project launch meeting The planning process Project action plan Work breakdown structure (WBS) Project Conception Program Launch Meeting Action Plan Project Master Schedule

Part 4: Budgeting the Project Budgeting methods Estimating costs Budget uncertainty and risk management CB Homework / exercises

Part 5: Scheduling the Project Project network diagrams Identifying critical paths and activities Determining activity slack times Gantt charts Working with Microsoft Project Uncertainty and risk management Simulation approach to managing risk

Part 6: Allocating Resources to the Project Expediting a project Resource loading Resource leveling Allocating scarce resources to projects Goldratt’s critical chain

Part 7: Monitoring and Controlling the Project Data collection and reporting Earned value analysis Project control Scope creep and change control

Part 8: Evaluating and Terminating the Project Project audits Project final report Termination activities

Introductions Name Company Position Experience with projects Are you currently working on a project?

Course Learning Objectives Gain an appreciation of the multiple goals and complexities of projects Gain a better understanding of the roles, responsibilities, challenges, and rewards for project managers Learn how to better manage project teams and participants Learn how to better manage project conflicts Gain an understanding of the tools and approaches to better manage project schedules, budgets, and risks Gain an understanding of the tools and approaches to better control project performance Evaluate and select the most desirable projects. Identify desirable characteristics of effective project managers. Apply appropriate approaches to plan a new project. Apply appropriate methodologies to develop a project schedule. Develop a suitable budget for a new project. Identify important risks facing a new project. Apply appropriate techniques to assess ongoing project performance.