Starting our Project

单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Starting your Project,Why is Project Management important?,Projects have special features that require explicit management attention. These include:,RARITY due to the specific finite goals of a project.,CONSTRAINTS on time, money and resources.,MULTI-DISCIPLINARY skill sets required to complete a project.,COMPLEXITY of the operating environment due to sources of project staff, money and resources and internal and external customers.,DYNAMIC RESPONSE required to complete the project on time, within budget and according to specifications.,ADDITIONAL needs for technical skills, a strong sponsor commitment and effective project management knowledge and expertise.,What is Project Management (defined)?,To define Project Management as:,“the art of directing and coordinating human and material resources throughout the life of a project by using modern management techniques to achieve pre-determined objectives of scope, quality, time and cost, and participant satisfaction.”,IT IS A PROJECT-ORIENTED PROCESS.,PMBOK Model,Four Core Functions,Scope,Quality,Time,Cost,Four Facilitating Functions,Risk,Human Resources,Procurement,Communications,Significance of Function Sequences,Scope = What needs to be done?,Quality = To what standards will the work be done?,Time = What are the time frames/sequences?,Cost = How much will the project, activities cost?,Risk = What is the degree of certainty in the project?,Human Resources = What kind & quality of staff needed?,Procurement = What/where will resources be obtained?,Communications = How/who will circulate info.?,What is POETS?,PLAN,= Plan the scope, quality, time and cost. Strategies to follow.,ORGANIZE,= Analyze/prioritize activities. Assign time/cost constraints,EXECUTE,=Managing people, resources, time & money.,TRACK,=Reporting, monitoring & forecasting based on results viz. Original plan.,STEER,= Deviations to be dealt with immediately. Modifications to be made as required.,What is a Project?,A temporary endeavor undertaken to create a unique product or service.,It has a beginning and a definite end.,It is directed at achieving a specific result.,It involves the coordinated undertaking of interrelated activities.,What is a Program?,Is larger in scope than a project.,Often comprises several interrelated projects.,Lasts longer than a project.,Has a much less definite end point in time.,Traits of a Project,Objectives,Schedules,Complexity,Size and nature of task,Resources,Organizational structure,Integrated information control system,Meaning of Projects,Management resource (capital) commitments = the future of the company,Project selections mean the future direction of the company,The strategic management questions are:,Why do we want to invest in a project?,How does this project fit into our overall business strategy?,An Effort Versus Time Life Cycle With Typical Activities,PMBOK,1,CONCEPT,C,(Conceive),2,DEVELOPMENT,D,(Develop),3,IMPLEMENTATION,E,(Execute),4,TERMINATION,F,(Finish),- Gather data,- Identify need,- Establish: -,- goals,objectives,- basic economics, feasibility,- stake holders,- risk level,- strategy,- potential team,- Guesstimate resources,- Identify alternatives,- Present proposal,- Obtain approval for next phase,- Appoint key team members,- Conduct studies,- Develop scope baseline: -,- end product(s),- quality standards,- resources,- activities,- Establish: -,- master plan,- budget, cash flow,- WBS,- policies & procedures,- Assess risks,- Confirm justification,- Present project brief,- Obtain approval to proceed,- Set up: -,- organization,- communications,- Motivate team,- Detail technical requirements,- Establish: -,- work packages,- information control systems,- Procure good & services,- Execute work packages,- Direct/monitor/forecast/control: -,- scope,- quality,- time,- cost,- Resolve problems,- Finalize product(s),- Review & accept,- Settle final a/cs,- Transfer product responsibility,- Evaluate project,- Document results,- Release/redirect resources,- Reassign project team,TYPICAL ACTIVITIES,L,E,V,E,L,O,F,E,F,F,O,R,T,TIME,PLC - The Functional Cycle,PLC - The Vicious Cycle,PLC - The Virtuous Cycle,Project Stakeholders,Project Integration Management,Includes the processes required to ensure that the various elements of the project are properly coordinated. It involves making tradeoffs among competing objectives and alternatives in order to meet or exceed stakeholder needs and expectations.,Project Integration Process Areas,Project Plan Development,Project Plan Execution,Overall Change Control,Project Plan Development,Inputs,Other planning outputs,Historical Information,Organization policies,Project assumptions/constraints,Tools and Techniques,Project Planning methodology,Stakeholder skills/knowledge,PMIS,Outputs,Project Plan & Supporting detail,Project Plan Execution,Inputs,Project Plan & Supporting detail,Organizational policies,Corrective action,Tools and Techniques,General management skills,Product skills/knowledge,Work authorization system,Status review meetings,PMIS,Organizational procedures,Outputs,Work results & Change requests,Overall Change Control,Inputs,Project Plan,Performance Reports,Change requests,Tools and Techniques,Change control system,Configuration management,Performance measurement,Additional planning,PMIS,Outputs,Project Plan Updates, Corrective action & Lessons learned,Scope Management is:,Project Scope Management,includes the processes required to ensure that the project includes all the work required, and only the work required, to complete the project successfully. It is primarily concerned with defining and controlling what is or is not included in the project.,Project Scope Management Process Areas,Initiation,Scope Planning,Scope Definition,Scope Verification,Scope Change Control,Initiation,Committing the organization to begin the next phase of the project.,Inputs,:,Product description,Strategic Plan,Project Selection criteria,Historical Information,Tools/Techniques:,Project selection methods,Expert Judgement,Outputs:,Project Charter,Project Manager identified/assigned,Constraints,Assumptions,Project selection methods:,Benefit Measurement Methods:,Benefit/Cost Ratio,Payback period,Economic Value Added,Peer review,Expert Judgment,Net Present Value (NPV),Internal Rate of Return (IRR),Constrained Optimization Methods:,Linear/nonlinear programming,Integer programming,Dynamic programming,Multi-objective programming.,Project Selection Types,Non-Numeric,Continuing Operations,Competitiveness projects,Sacred Cows,Numeric,Benefit/Cost Ratios,Capital Budgeting Methods (e.g. NPV, IRR),Payback Period, Average Rate of Return, Profitability Index,Score Card,Weighted,Un-Weighted,Cost of Capital:,This is the cost of money (capital) to a project overtime.,There are three types of methods for calculating the,cost of capital:,Future Value (Compound Interest),Present Value (Net Present Value),Internal Rate of Return,Capital Rationing,This is the process of selecting the best projects with the highest overall net present value without exceeding the available budget.,Assumes projects are mutually exclusive.,Tools/Techniques:,Capital Budgeting calculations,NPV & IRR Calculations,Risk Analysis,Outputs:,Project cost levels,Cross-comparison of project budgets,Selection of project(s) to implement,Capital Budgeting,This is the process of identifying the prospective financial benefits of projects under consideration for funding & implementation it is the project selection decision-making process.,Tools/Techniques,:,Payback period,NPV & IRR Calculations,Discounted Cash Flow,Depreciation schedules,Tax information,Cash Flow,Outputs,:,Prospective project cost/profit levels,Cross-comparison of prospective project B/C Ratios (profit potential),Selection of project(s) to implement,Decision Trees,There are two types of Decision (Logic) Trees:,Probability Trees,Decision (Expected Monetary Value Trees) that consider Decisions Point and Chance Events.,Build the tree from left to right -,not mandatory.,Put the probabilities of the states of nature on all the branches thus producing the probability tree.,All up all the conditional payoffs to complete the tree.,The sum of all probabilities,at the end of each branch of the tree,must equal 1.0.,Scope Planning,Developing a written scope statement as the basis for future project decisions.,Inputs,:,Product description,Project Charter,Constraints,Assumptions,Tools/Techniques:,Product analysis,Benefit/cost analysis,Alternatives identification,Expert Judgement,Outputs:,Scope Statement,Supporting detail,Scope Management Plan,Scope Definition,Subdividing the major project deliverables into smaller, more manageable components.,Inputs,:,Scope Statement,Constraints,Assumptions,Other planning outputs,Historical Information,Tools/Techniques:,Work Breakdown Structure,Decomposition,Outputs:,Work Breakdown Structure,Scope Verification,Formalizing acceptance of the project scope.,Inputs,:,Work Results,Product Documentation,Tools/Techniques:,Inspection,Outputs:,Formal Acceptance,Scope Change Control,Controlling changes to project scope.,Inputs,:,Work Breakdown Structure,Performance Reports,Change Requests,Scope Management Plan,Tools/Techniques:,Scope Change Control,Performance Measurement,Additional Planning,Outputs:,Scope Changes,Corrective Action,Lessons Learned,Initiating Processes,Gather Data,Identify needs and alternatives,Establish goals, feasibility, risk, strategy,Guesstimate resources,Present Proposal,Project Charter,Prepare for Kick-off meeting,Project Charter:,The deliverable of the concept/initiation phase that establishes the project.,Issued by senior management to the project manager.,Gives authority to the project manager to use organizational resources to accomplish project activities.,Discusses the risks and constraints of the project.,Designates the organizational structure of the project.,State the business goals of the performing organization.,Details the project deliverables.,Kick-off Meeting:,Convened at the beginning of the Planning phase. Purpose is to:,Introduce project manager, players, members;,Establish working relationships/lines of communication;,Set team goals/objectives;,Review project status;,Review project plans;,Identify problem areas;,Establish individual and group responsibilities/accountabilities;,Obtain individual/group commitments.,Planning Processes,Hold Kick-Off Meeting,Scope Planning,Scope Definition,General issues of planning,Planning functions at different levels of management,Planning functions and organizational structure,Who does what kind of planning?,Configuration management,Planning methods:,Centralized,De-centralized,Characteristics of Centralized planning:,+ Characteristics:,Rationalized,Coherent,Consistent,Efficient,Control,- Characteristics:,Not market oriented,Rigid/dogmatic,Stifles initiative/creativity,Characteristics of De-centralized Planning,:,+ Characteristics:,Flexible,Creative,Market focus,- Characteristics:,Anarchic,Disintegration,No control,Project Plan:,Is the baseline against which all changes are managed. Used for six reasons:,To guide project execution;,To document project planning assumptions;,To document project planning decisions regarding alternatives chosen;,To facilitate communication among stakeholders;,To define the content, extent, and timing of key management reviews;,To provide a baseline for progress measurement and project control.,Project Scope Statement:,Describes the objectives, work content, deliverables and end-product of a project.,Purpose is to provide a documented basis for making future decisions and for confirming/developing a common understanding of the project scope among the stakeholders.,It is not a detailed technical statement. It is an output of Scope Planning.,Scope Statement:,This is a narrative description of the project concerning its output, approach, and content. Used to provide a documented basis to help make future project decisions and help project stakeholders understand the project. Must include the following:,Project justification;,Project product;,Project deliverables;,Project objectives.,It is not a detailed technical statement.,Statement of Work (SOW):,Same as scope of work.,A narrative detailed technical description of products or services to be supplied under contract.,This is included in RFP only.,It is a detailed technical statement.,Example: Apollo to the Moon,Purpose,: demonstrate U.S. leadership and technological superiority,Mission,: get a man to the moon and return him safely,Scope,: one or two people, a couple of days on moon,Objectives,: develop a quality program with associated capabilities (e.g., good rockets, satellites),Goal,: achieve mission by the end of the decade,Work Breakdown Structure:,A deliverable/product oriented family tree of activities.,It is not task oriented.,Shows how to organize the project.,Allows for cost-estimating.,It is the deliverable of the Planning phase.,The lowest level of the WBS is the Work Package.,PMI recommends that Work Packages not exceed 80 hours duration.,Work Breakdown Structure:,Benefits of the WBS:,Builds project team,Provides a framework to identify projects separately from organizations,Clarifies responsibilities,Focuses attention on project objectives,Focuses detailed planning and documentation,Identifies specific work packages for estimating/assigning work.,Uses of the WBS:,Planning and budgeting,Funding,Estimating,Scheduling,Performance measurement,Configuration Management,Integrated logistic support,Test and performance evaluation.,WBS Perspectives,One organizations project is another organizations work package.,Projects are broken down into work packages.,Cost Accounts & the WBS,A,Chart of Accounts,refers to the,unique identifiers,used for an,organizations,budget line,items.,A,Code of Accounts,refers to the,unique identifiers,used for the,elements of the,Work Breakdown Structure,.,Executing Processes,Appoint key team members,Develop scope baseline,Establish master plan, budget, WBS and policies/procedures,Assess risks,Confirm justification and obtain approval to proceed,Scope Verification,Controlling Processes,Overall change control,Scope change control,Direct, monitor and control, quality, time and cost,Close-Out Processes,Review and customer acceptance of project,Transfer responsibility,Document and evaluate results,Release and redirect resources,QUANTITATIVE TOOLS AND TECHNIQUES,Present Value:,Vt,= Value in prescribed time period,I = Interest rate,n = number of time periods,PV =,Vt,(1+I),Benefit Cost Ratio:,Benefit/Cost Ratio =,Aggregate Benefits,Aggregate Costs,Opportunity Costs:,Revenue of opportunity,not,pursued,-,Revenue of opportunity pursued,=Opportunity Cost,