1. Project Management Life Cycle
The Project Management Life Cycle

2. Project Management Life Cycle
Progression of Risk

3. Setting Up for Success
Three Factors of Success

4. Setting Up for Success
Initiation Phase of the Project Management Life Cycle

5. The Project Team
Team Membership during Project Management Life Cycle

6. The Project Team
Matrixed Organization Chart

7. The Project Team
Team Building Flow Chart

8. Risk Management
Sources of Risk

9. Risk Management
Risk Prioritization Chart

10. Risk Management Risk Management Approaches Avoid It
work around so risk never occurs
Accept It
live with the consequences
Transfer It
share the risk
Mitigate It
prepare through contingency planning

11. Project Plans Vocabulary Moment Work Breakdown Structure (WBS):
Chart breakdown of milestones and tasks that must be accomplished in a project
Work Packages:
Detailed tasks, used in assigning, estimating, scheduling, and controlling project work

12. Project Plans
Work Breakdown Structure (Hierarchy Format)

13. Project Plans Vocabulary Moment Network Logic Diagram:
Scheduling tool that displays interrelationships among project work packages

14. The Project Schedule
Network Logic Diagram

15. Project Tracking and Control
Bar Chart of Actual versus Estimated Costs

16. Project Tracking and Control
Variables in Earned Value Analysis
Budgeted Cost for Work Scheduled (BCWS):
The amount you budget for a task between its start date and today
Example:
You expected a task to take 10 days and cost $1,000
Today is day 3
The BCWS on day 3 = $300

17. Project Tracking and Control
Variables in Earned Value Analysis
Budgeted Cost for Work Performed (BCWP):
The percentage of the task budget that corresponds to the task’s completion status
Also known as Earned Value
Example:
The $1,000 task is only 10% complete on day 3
The BCWP = $100

18. Project Tracking and Control
Variables in Earned Value Analysis
Actual Cost for Work Performed (ACWP):
The actual cost of the task so far
Example:
You have spent $500 of your $1,000 by day 3
The ACWP = $500

19. Project Tracking and Control
Earned Value Calculations
To calculate variances that show the interrelation between cost and schedule:
Acronym Variance Calculations
CV Cost Variance BCWP — ACWP
SV Schedule Variance BCWP — BCWS

20. Project Tracking and Control
Earned Value Calculations
To calculate both cost and schedule variances in terms of percentages:
Acronym Variance Calculations
CVP Cost Variance Percentage CV  BCWP
divides cost variance by budgeted cost
negative value means a cost overrun
SVP Schedule Variance Percentage SV  BCWS
divides schedule variance by budgeted cost to date
negative value means the work is behind schedule

21. Project Tracking and Control
Earned Value Calculations
To calculate the result of variance trends over time:
Acronym Variance Calculations
EAC Estimate at Completion (Original Cost  ACWP) ÷ BCWP
Recalculates the cost or completion date based on performance to date

22. Project Reports Reporting Format: Bar Chart
Visually summarizes and highlights key points
Can be used to show progress to-date
Can be used to display simple variance data

23. Project Reports Reporting Format: Table Itemizes information
Allows readers to pick out specific data points easily

24. Project Reports Reporting Format: S-Curves
Visually displays interrelationships between 2 different types of data (for example, cost and time)
Useful for showing cumulative data and forecasting trends

25. Project Close-Out
Close-Out Phase of the Project Management Life Cycle