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Project Management Fundamentals. Element K. Kim Andrews Senior Practice Partner L&OD 613-7612 Kim.Andrews@duke.edu. Duke Course Objectives. Determine why projects fail Describe the methodologies, tools, and techniques to manage projects Plan and meet schedule deadlines and budget goals.

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Project Management Fundamentals


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    project management fundamentals

    Project Management Fundamentals

    Element K

    Kim Andrews

    Senior Practice PartnerL&OD

    613-7612Kim.Andrews@duke.edu

    duke course objectives
    Duke Course Objectives
    • Determine why projects fail
    • Describe the methodologies, tools, and techniques to manage projects
    • Plan and meet schedule deadlines and budget goals
    is it a project
    Is It a Project?

    Project Work and Ongoing Work Are Different

    Ongoing Work Project Work

    Repeating process One of a kind, temporary process

    No clear beginning or ending Clear beginning and ending

    Same output created each time Output is created only once

    Everyone in work group Requires multi-disciplined team performs similar functions

    Project Management – Planning, organizing, scheduling, leading, communicating, and controlling work activities to achieve time and budget goals.

    Workbook page 2

    role of the project manager
    Role of the Project Manager
    • Leader
    • Planner
    • Organizer
    • Controller
    • Communicator
    • Negotiator
    • Peace Maker
    • Advocate
    • Risk Manager
    statement of work
    Statement of Work
    • Stakeholders and their responsibilities
    • Purpose
    • Objectives
    • Scope
    • Sign-off and review hierarchies
    • Reporting and communication plans
    • Assumptions or Constraints
    project charter
    Project Charter

    Official statement of support by the project’s sponsor

    • Name, purpose, and objectives of project
    • Name of project manager
    • Authorization to use organizational resources
    project management laws
    Project Management Laws
    • Murphy’s Law – Anything that can go wrong, will go wrong.
    • Finagle’s Law of Dynamic Negatives or Finagle’s Corollary to Murphy’s Law - Anything that can go wrong, will – at the worst possible moment.
    • Hofstadter’s Law – It always takes longer than you expect, even when you take into account Hofstadter’s law.
    • Parkinson’s Law – Work expands so as to full the time available for its completion.
    risk management approaches
    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
    dependencies relationships

    Finish-to-Start

    Finish-to-Finish

    Start-to-Start

    Start-to-Finish

    Preceding activity must finish before successor activity can start

    Preceding activity must finish before successor activity can finish

    Preceding activity must start before successor activity can start

    Preceding activity must start before successor activity can finish

    Dependencies/Relationships

    Relationship

    Gantt Chart

    Description

    the project schedule
    The Project Schedule
    • Estimate the duration and effort.
    • Calculate the critical path.
    • Calculate float.
    balance the budget and schedule
    Balance the Budget and Schedule
    • Shorten the schedule
    • Lengthen the schedule
    • Increase the budget
    • Change the scope
    • Change the expected quality
    earned value analysis
    Earned Value Analysis
    • Cost Variance Percentage (CVP)
    • Schedule Variance Percentage (SVP)
    • Estimate at Completion (EAC)
    variables used
    Variables Used
    • Budgeted versus Actual
    • Work Scheduled versus Work Performed
    • Budgeted Cost for Work Scheduled (BCWS) – the amount you budget for a task between its start date and today (not the end of the project!)
    • Budgeted Cost for Work Performed (BCWP) – the % of the task budget that corresponds to the task’s completion status
    • Actual Cost for Work Performed (ACWP) – The actual cost of the task so far
    cost variance percentage
    Cost Variance Percentage
    • (BCWP – ACWP) / BCWP = CVP
    • Divides cost variance by budgeted cost.
    • A negative value means a cost overrun.
    schedule variance percentage
    Schedule Variance Percentage
    • (BCWP – BCWS) / BCWS = SVP
    • Divides schedule variance by cost to date.
    • A negative value means the work is behind schedule.
    estimate at completion
    Estimate at Completion
    • (Original cost x ACWP) / BCWP = EAC
    • Recalculates the cost or completion date based on performance to date.
    dealing with variances
    Dealing with Variances
    • Find the cause.
    • Plan corrective action.
    • Determine overall project impact.
    • Present the information to stakeholders.
    change request
    Change Request
    • Change
    • Requested By
    • Reason for Change
    • Method of Change
    • Affected Parties
    • Affect on Success Criteria
    • Backup Information
    • Sign-Offs
    • Date of Approval
    duke course objectives1
    Duke Course Objectives
    • Determine why projects fail
    • Describe the methodologies, tools, and techniques to manage projects
    • Plan and meet schedule deadlines and budget goals
    project management fundamentals1

    Project Management Fundamentals

    Element K

    Kim Andrews

    Senior Practice PartnerL&OD

    613-7612Kim.Andrews@duke.edu