Project Management Fundamentals - PowerPoint PPT Presentation

Project Management Fundamentals

Element K

Kim Andrews

Senior Practice PartnerL&OD

613-7612Kim.Andrews@duke.edu

• Determine why projects fail
• Describe the methodologies, tools, and techniques to manage projects
• Plan and meet schedule deadlines and budget goals

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

• Leader
• Planner
• Organizer
• Controller
• Communicator
• Negotiator
• Peace Maker
• Advocate
• Risk Manager

• Stakeholders and their responsibilities
• Purpose
• Objectives
• Scope
• Sign-off and review hierarchies
• Reporting and communication plans
• Assumptions or Constraints

Official statement of support by the project’s sponsor

• Name, purpose, and objectives of project
• Name of project manager
• Authorization to use organizational resources

• 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.

• 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

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

Relationship

Gantt Chart

Description

• Estimate the duration and effort.
• Calculate the critical path.
• Calculate float.

• The Gantt Chart

• Shorten the schedule
• Lengthen the schedule
• Increase the budget
• Change the scope
• Change the expected quality

• Cost Variance Percentage (CVP)
• Schedule Variance Percentage (SVP)
• Estimate at Completion (EAC)

• 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

• (BCWP – ACWP) / BCWP = CVP
• Divides cost variance by budgeted cost.
• A negative value means a cost overrun.

• (BCWP – BCWS) / BCWS = SVP
• Divides schedule variance by cost to date.
• A negative value means the work is behind schedule.

• (Original cost x ACWP) / BCWP = EAC
• Recalculates the cost or completion date based on performance to date.

• Find the cause.
• Plan corrective action.
• Determine overall project impact.
• Present the information to stakeholders.

• Change
• Requested By
• Reason for Change
• Method of Change
• Affected Parties
• Affect on Success Criteria
• Backup Information
• Sign-Offs
• Date of Approval

• Determine why projects fail
• Describe the methodologies, tools, and techniques to manage projects
• Plan and meet schedule deadlines and budget goals

Project Management Fundamentals

Element K

Kim Andrews

Senior Practice PartnerL&OD

613-7612Kim.Andrews@duke.edu