atec 2340 lecture7
TRANSCRIPT
ATEC 2340 Project Management for Arts & Technology - I
Agenda• Project Time
Management
• Project Cost Management
• Mid Term
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Project Time Management
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Before we begin…
Project Time Management = Project Scheduling
Because, 95 % of the time when people think about project management, they think about schedule.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Importance of Project Schedules…
• Managers often cite delivering projects on time as one of their biggest challenges.
• Schedule issues are the main reason for conflicts on projects, especially during the second half of projects.
• Time has the least amount of flexibility; it passes no matter what happens on a project.
*The Standish Group, “Latest Standish Group CHAOS Report Shows Project Success Rates Have Improved by 50%,” (www.standishgroup.com) (March 25, 2003
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Project Time Management: The Big Picture
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Project Time Management Processes
• Activity definition: Identifying the specific activities that the project team members and stakeholders must perform to produce the project deliverables.
• Activity sequencing: Identifying and documenting the relationships between project activities.
• Activity resource estimating: Estimating how many resources a project team should use to perform project activities.
• Activity duration estimating: Estimating the number of work periods that are needed to complete individual activities.
• Schedule development: Analyzing activity sequences, activity resource estimates, and activity duration estimates to create the project schedule.
• Schedule control: Controlling and managing changes to the project schedule.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Activity Definition• Activity List:
– An activity list is a tabulation of activities to be included on a project schedule.– All activities necessary and sufficient to produce the product deliverables– Defined in sufficient detail to promote understanding by project team
• Activity Attributes:Activity attributes provide more information about each activity, such as predecessors, successors, logical relationships, leads and lags, resource requirements, constraints, imposed dates, and assumptions related to the activity.
– Activity identifier and code– Activity description– Assumption and constraints– Predecessor and Successor Activities– Resource Requirements– Team Member Responsible for Performing the Work
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Milestones
• A milestone is a significant event that normally has no duration.
• It often takes several activities and a lot of work to complete a milestone.
• Milestones are useful tools for setting schedule goals and monitoring progress.
• Examples include completion and customer sign-off on key documents and completion of specific products.
ATEC 2340 Project Management for Arts & Technology - I
Activity Sequencing• Identifies the dependencies among the schedule activities and orders the
activities accordingly – A task has a dependency if it involves an activity, resource or work
product which is subsequently required by another task
• Tasks may have dependencies because they require the same resource
A BActivity A is a predecessor
of activity BActivity B is a successor of
activity A
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Precedence Relationships• Finish to Start
– Initiation of the successor activity depends upon completion of the predecessor activity
• Finish to Finish– The completion of the successor activity depends upon the completion of
the predecessor activity• Start to start
– The initiation of the successor activity depends upon the initiation of the predecessor activity
• Start to finish– The completion of the successor activity depends upon the initiation of
the predecessor activity
ATEC 2340 Project Management for Arts & Technology - I
Precedence Relationships
ATEC 2340.001.F16 Sagar Wadhwani http://www.stellman-greene.com
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Three types of Dependencies
• Mandatory Dependencies– Inherent to the schedule activities (e.g. software must be developed
before it can be tested)• Discretionary Dependencies
– Dependencies at the discretion of the project team (e.g. acceptance test with marketing before accounting)
• External Dependencies– Involves a relationship between a project activity and a non-project
activity (e.g. Windows Vista Delivered)
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Network Diagram
• Network diagrams are the preferred technique for showing activity sequencing.
• A network diagram is a schematic display of the logical relationships among, or sequencing of, project activities.
• Two main formats are the arrow and precedence diagramming methods.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
A Sample Network Diagram
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Activity Resource Estimating
• Before estimating activity durations, you must have a good idea of the quantity and type of resources that will be assigned to each activity.
• Consider important issues in estimating resources:– How difficult will it be to complete specific activities on this project?– What is the organization’s history in doing similar activities?– Are the required resources available?
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Activity Duration Estimating
• Duration includes the actual amount of time worked on an activity plus the elapsed time.
• Effort is the number of workdays or work hours required to complete a task.
• Effort does not normally equal duration.
• People doing the work should help create estimates, and an expert should review them.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Developing the Schedule
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Schedule Development
• Uses results of the other time management processes to determine the start and end dates of the project.
• Ultimate goal is to create a realistic project schedule that provides a basis for monitoring project progress for the time dimension of the project.
• Important tools and techniques include Gantt charts, critical path analysis, critical chain scheduling, and PERT analysis.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Gantt Charts
Gantt charts provide a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Adding Milestones to Gantt Charts
• Many people like to focus on meeting milestones, especially for large projects.
• Milestones emphasize important events or accomplishments in projects.
• You typically create milestone by entering tasks that have a zero duration, or you can mark any task as a milestone.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Schedule Control
• Perform reality checks on schedules.
• Allow for contingencies.
• Don’t plan for everyone to work at 100 percent capacity all the time.
• Hold progress meetings with stakeholders and be clear and honest in communicating schedule issues.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Reality Checks on Scheduling
• Review the draft schedule or estimated completion date in the project charter.
• Prepare a more detailed schedule with the project team.
• Make sure the schedule is realistic and followed.
• Alert top management well in advance if there are schedule problems.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Using Software to assist in Time Management
• Software for facilitating communication helps people exchange schedule-related information.
• Decision support models help analyze trade-offs that can be made.
• Project management software can help in various time management areas.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Project Cost Management
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Project Cost Management
• Cost is a resource sacrificed or foregone to achieve a specific objective or something given up in exchange
– Costs are usually measured in monetary units like dollars
• Project cost management includes the processes required to ensure that the project is completed within an approved budget
– Project managers must make sure their projects are well defined, have accurate time and cost estimates and have a realistic budget that they were involved in approving
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Project Cost Management Process
1. Plan Cost Management
• Establish the policies and procedures for planning and managing project costs.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Project Cost Management Process
1. Plan Cost Management2. Estimate Costs
• Develop an estimate or approximation of the monetary resources needed to complete project activities.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Project Cost Management Process
1. Plan Cost Management2. Estimate Costs3. Determine Budget
• Combining the total estimated costs of individual activities – plus contingency – to develop a cost baseline, also known as approved budget.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Project Cost Management Process
1. Plan Cost Management2. Estimate Costs3. Determine Budget4. Control Costs
• Monitor and manage costs, as based on status of activities.
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Plan Cost Management
Inputs:• Project Management Documents to date• Enterprise & Environmental Factors• Organizational Process & Policies
Tools and Techniques:• Expert Judgement • Financial Strategies such as Purchasing, renting, leasing, Internal or
external funding or investments
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Estimate CostsInputs:• Cost Management Plan• Scope baseline• Project schedule
Tools and Techniques:• Expert judgement• Analogous estimating - Similar project• Bottom-up or Rolled-up - Estimate individual activities and roll up• Three point estimating - Most likely, Optimistic, Pessimistic/worst case
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Determine Budget
Inputs:• Cost management plan• Scope• Schedule• Activity cost estimates• Resource calendars• Agreements• Organizational rules and tools
ATECARTS & TECHNOLOGY
ATEC 2340 Project Management for Arts & Technology - I
Determine Budget
Tools and Techniques:
• Expert Judgement• Cost Aggregation – take details and roll up• Reserve analysis – estimates of contingency• Analogous estimates – similar projects• Funding limits and estimated costs