Review for Final in ISQS 7342 Final will take place: Wednesday, December 10, 2014, a.m., this room – BA 025 Early Exam for those who signed on will be Saturday, December 6, 2014, a.m., this room – BA 025

Format b multiple choice worth 75% b 2-3 discussion problems worth 25% b exam is closed notes/closed book b Exam will be comprehensive 70% of the exam will cover material since Exam 270% of the exam will cover material since Exam 2 30% of the exam will cover prior material30% of the exam will cover prior material No talking during the EXAM, please

Bring b Pencils/Eraser b Calculator b Orange Scantron sheet

Emphasis will be upon: b Human Resource Management b Risk Management b Procurement Management b Communications Management b Goldratt Concepts b Finishing Projects Fast

Possible Discussion Questions b Name ten characteristics of a project b Successful project management entails what exactly (4 ‘measures’) b Name the stages of the project lifecycle Show their sequenceShow their sequence b Why is project management important b Name the four core knowledge areas b Name the five facilitating knowledge areas

More discussion questions b What is the tenth knowledge area and what is its purpose b Name some things we do poorly in projects b What term do we use to describe an event at which a major deliverable is completed? b What device or construct is often used to initiate a project? b What steps are used to launch critical chain project management?

Typical discussion problems b Construct an activity on node network chart from a table; Determine duration, ES, EF, LS, LF and mark the critical path b Perform earned value analysis: BCWP, BCWS, ACWP, CV, SV, EV, PV, AC, CI, SI b Perform crashing of networks b What are the five phases that make up the CMMI? b Illustrate the tradeoff triangle b Assuming that half the durations are safety, redraw a project network showing all feeding and project buffers and their lengths

Multiple choice b Risk, Procurement, HR, and Communications knowledge mangement b Chapters 12, 14 of Burns b Process maturity slides b Finishing projects fast slides b Critical chain concepts

Why has Project Management become so in-vogue? b b Diversity of new products and product markets b b Shorter life span of products b b Rapid technological changes

What are the major reasons for project failure? b Inadequate conceptualization and definition Specifically, inadequate requirementsSpecifically, inadequate requirements b Absence of a plan b Unavailable resources when needed b Scope and hope creep b Unresponsive contractors who deliver their product late

What are the five stages of the project lifecycle? STAGE 1: Initiating STAGE 2: Planning STAGE 3: Executing STAGE 5: Closing STAGE 4: Monitoring-and-Controlling

In which of these stages is a WBS started? b Initiating (Conceptualizing and Defining) First 3 levelsFirst 3 levels b {The WBS is usually finished in the Planning and Budgeting stage}

What are the ten knowledge areas? b Scope management b Time management b Cost management b Quality management b Integration management b Risk management b Procurement management b Human resource management b Communications management b Stakeholder Management

In which stage is scope management most important? b The first stage: Initiating (Conceptualization and Definition) because that is where scope is defined

Activity Definition (Define Activities) is ___ b a subproject b a process b a problem b a plan b WHICH???

Activity Definition (Define Activities) is part of what knowledge area? b Time management

Project Scope Management Processes b Collect Requirements b Define Scope b Create WBS b Verify Scope b Control Scope

Project Time Management Processes b Define Activities b Sequence Activities b Estimate Activity Resources b Estimate Activity Durations b Develop Schedule b Control Schedule

Project Cost Management Processes b Estimate Costs b Determine Budget b Control Costs

Project Quality Management Processes b Plan Quality b Perform Quality Assurance b Perform Quality Control

The main purpose of a project plan is to ____ b acquire resources b guide project execution. b meet standards expectations. b b reduce risk.

The most important output of project execution is b Not---change requests b Not—the WBS b Not—project plan b Not—requirements doc b But—work products—the deliverables of the project

The Principle… b That work tends to fill up the time allotted for it is known as…..

Most core knowledge areas have a b Planning process b And a b Control process

During the … b Conceptualization and definition stage, it is important that the project manager get

What are the five steps of the Theory of Constraints (Goldratt)? b b IDENTIFY the project constraint b b Decide how to EXPLOITE that constraint b b SUBORDINATE everything to that decision b b ELEVATE the system’s constraint b b Go back to step a

NOT… b SUBORIDNATE that decision to everything else

According to Goldratt… b Team players put too much ____ into their estimated durations

As Goldratt sees it, …. b The ultimate constraint in projects is….

Which of the following does Goldratt regard as a positive thing b Safety b Multitasking b Student syndrome b Lose/lose contracting b None of the above

An activity has probabilistic completion times of 20, 50 and 80 for the optimistic, most likely and pessimistic durations. b What is the average time (duration) assuming a beta distribution? b 30 b 40 b 50 b 60 b 70

You should know b How to construct a NETWORK chart from a table b How to construct a Gantt chart from a table b How to perform NETWORK crashing b How to do EVA

A work package… b Has $100,000 budgeted for it b Is 50% complete b What is its BCWP = EV?? b $30,000 b $40,000 b $50,000 b $60,000

A task with a $10,000 budget has a start date in the future b Its BCWS (planned value) is $0$0 $5,000$5,000 $10,000$10,000 Can’t be determinedCan’t be determined

A task with a $10,000 budget has a stop date in the past. b Its BCWS (planned value) is $0$0 $5,000$5,000 $10,000$10,000 Can’t be determinedCan’t be determined

A task with a $10,000 budget and a 6 day duration has just finished day 3 b Its BCWS = PV is $0$0 $5,000$5,000 $10,000$10,000 Can’t be determinedCan’t be determined

A task has a budget of $20,000 and a scheduled duration of 5 days b What is its daily burn rate? b $4,000 b What is its PV rate? b $4,000 b If the project is 20% complete what is its BCWP? b $4,000

A task has a budget of $20,000 and a scheduled duration of 5 days b What is its PV rate? $4,000 b If the project is 20% complete what is its BCWP? $4,000 b If day three has just transpired, what is the BCWS? $12,000 b What is the task’s SV (schedule variance)? b -$8,000 b Is the task ahead or behind schedule???

Questions about MS Project b Which key for subordination? The Indent arrowThe Indent arrow b Which key for linking, for sequencing? The linking toolThe linking tool b How to view project duration and cost on the project information dialog box? Click on the Project tab and then the Project Information IconClick on the Project tab and then the Project Information Icon

Questions about MS Project b How to see all of the cost and duration detail in the entry table in the ? view, including total PROJECT cost and duration b How to see all of the activity costs

For MS Project to cost your project, it needs to know b Resource hourly costs Specified in what view????Specified in what view???? –The Reource sheet b Activity fixed costs Specified on the Cost tableSpecified on the Cost table b THIS IS ALL

In MS Project, durations/costs of phases (summary tasks) ….. b Containing one or more subordinate tasks can be specified only by MS Project b Is it a good idea to assign resources to summary tasks as well as to subordinate tasks?

Summary Tasks….. b Always appear in black or in blue? b Occur when…. There are tasks subordinate to it to it

Task info is entered in which view of MS Project, usually?? b The Network View b The Gantt view, using the Entry Table b The Resource Sheet b The Tracking Gantt view

When using the standard calendar, MS Project assumes a. 8-hour work days b. No work on Sat or Sun c. Two persons can do the work in half o f the time d. All of the above

Questions over CRITICAL CHAIN b Major conclusions, recommendations b Goldratt’s view of EVA b What to Measure b What to Focus on

L&G, Ch.8-Ex.3 PERIODACTIVITYCHANGES 0-12Schedule Activity 2 (first by minimum slack rule) 1Schedule Activity 1 3Delay Activity 3 ES to period 1. Reduce slack to 0 5Delay Activity 5 ES to period 6. Reduce slack to Delay Activity 3 ES to period 2. Reduce slack to -1 5Delay Activity 5 ES to period 7. Reduce slack to -1 6Delay Activity 6 ES to period 11. Reduce slack to Delay Activity 3 ES to period 3. Reduce slack to -2 5Delay Activity 5 ES to period 8. Reduce slack to -2 6Delay Activity 6 ES to period 12. Reduce slack to Schedule Activity Schedule Activity No changes 6-7-No changes 7-8-No changes 8-95Schedule Activity No changes No changes No changes Schedule Activity 6 Log of Parallel Method of Scheduling 8-3 Heuristics Rule: Minimum slack Smallest duration Lowest identification number

RESOURCE-CONSTRAINT SCHEDULING IDRESDUR Resource Scheduled Resource Available ESIDEF LF DUR LS SL RES SL Legend

IDRESDUR Resource Scheduled Resource Available ESIDEF LF DUR LS SL RES SL Legend Resource-Constrained Scheduling List the order in which you scheduled the activities of the project: 2, 1, 5, 3, 4, 6 Which activities of your schedule are now critical? 2, 4, 6 Re-compute your slack for each activity given your new schedule. What is the slack for activity 1? 4? 5? 1 = (2), 4 = (0), 5 = (2)

Earned Value Analysis (L&G, Ch. 13-Ex.3) Task Actual %EVACPVCVSV Complete$$$$$ AFinished B50% C33% D0%00000 E Cumulative Totals$2100$1800 $+300 End of Period 4 Also, calculate BAC, EAC, TAC, ETAC.

More Questions on CRITICAL CHAIN b To avoid non critical paths from becoming critical you should… b Critical chain is the sequence of tasks performed by key persons both on and off the critical path

Measurements should b Induce the parts to always do what is good for the system as a whole

Why does Goldratt not like BCWP, BCWS, ACWP? b Because they have no sensitivity to the critical path

If you have a task on the critical path and ….. b Your time to complete that task has arrived, then Goldratt recommends that you drop everything and just focus (150%) on that task until you get it done!! No multitaskingNo multitasking No procrastination (student syndrome)No procrastination (student syndrome)

Project Performance Measurement and Control b The first step is to…. b SET A BASELINE…. b The second step is to b MEASURE PROGRESS AND PERFORMANCE b The third step is to b COMPARE PLAN AGAINST PERFORMANCE

Project Performance Measurement and Control b The last step is b TAKE APPROPRIATE ACTION b Project schedule status is usually communicated with a b Tracking Gantt Chart showing a progress line

Notes on shortening project durations b This should be done in the Planning and Budgeting stage b Crashing Reducing the duration of tasks on the critical pathReducing the duration of tasks on the critical path b Fast-tracking Starting tasks soonerStarting tasks sooner b Adding resources?? b Checking for parallelism opportunities in the schedule Pull as much work off of the critical path as you canPull as much work off of the critical path as you can

More Tips on shortening project durations b REUSE, REUSE, REUSE b Do it right the first time b Avoid enhancements to requirements b Instead, consider scrubbing requirements (reducing scope) b If its early in the project, consider outsourcing some project work outsourcing some project work Adding resources in-houseAdding resources in-house Using overtimeUsing overtime

More techniques for shortening projects b Scrub the requirements, as we mentioned Remove from the requirements those items that add little or no value, but nevertheless are significant contributors to costRemove from the requirements those items that add little or no value, but nevertheless are significant contributors to cost Remember the Pareto principle—80% of the value comes from 20% of the functionalityRemember the Pareto principle—80% of the value comes from 20% of the functionality b Do everything right the first time (AGAIN) b REMOVE SAFETY--GOLDRATT

Crashing Problem (Burns, Ch. 8) For the network diagram below, find the best crashing strategy considering that you have $1300 in the crashing budget and the following: TaskCrash cost/day Minimum duration Duration A$ B$ C$ D$ E$ F$35057 G$ Note from above that A can only be crashed 2 days, from 10 down to 8 days, etc.

Network diagrams, drawn by commercial software b Do they use Activity-on-Node, orActivity-on-Node, or Activity-on-Arrow representations?Activity-on-Arrow representations?

That’s all folks b {I enjoyed having you as a class—one of the best classes I’ve had)