PM Exam 2
What is project Scope Management?
•Project scope management includes the processes involved in defining and controlling what is or is not included in a project
Defining Scope
•Project scope statements should include at least a product scope description, product user acceptance criteria, and detailed information on all project deliverables. It is also helpful to document other scope-related information, such as the project boundaries, constraints, and assumptions. The project scope statement should also reference supporting documents, such as product specifications •As time progresses, the scope of a project should become more clear and specific
Managing Stakeholder Engagement
•Project success is often measured in terms of customer/sponsor satisfaction •Project sponsors often rank scope, time, and cost goals in order of importance and provide guidelines on how to balance the triple constraint •This ranking can be shown in an expectations management matrix to help clarify expectations
Projects often cause change
•Projects often cause changes in organizations, and some people may lose their jobs when a project is completed. Project managers might be viewed as enemies if the project resulted in job losses for some stakeholders •By contrast, they could be viewed as allies if they lead a project that helps increase profits, produce new jobs, or increase pay for certain stakeholders •In any case, project managers must learn to identify, understand, and work with a variety of stakeholders
PMBOK - Project Quality Management Process
•Quality Planning -Determining which quality standards are important and how they will be met. •Quality Assurance -Evaluating overall project performance to ensure quality standards are being met. •Quality Control -Monitoring the activities and results of the project to ensure that the project complies with the quality standards.
Performing Quality Assurance
•Quality assurance includes all the activities related to satisfying the relevant quality standards for a project •Another goal of quality assurance is continuous quality improvement •Benchmarking generates ideas for quality improvements by comparing specific project practices or product characteristics to those of other projects or products within or outside the performing organization •A quality audit is a structured review of specific quality management activities that help identify lessons learned that could improve performance on current or future projects
Rate of Performance
•Rate of performance (RP) is the ratio of actual work completed to the percentage of work planned to have been completed at any given time during the life of the project or activity •Brenda Taylor, Senior Project Manager in South Africa, suggests this term and approach for estimating earned value •For example, suppose the server installation was halfway completed by the end of week 1. The rate of performance would be 50% because by the end of week 1, the planned schedule reflects that the task should be 100 percent complete and only 50 percent of that work has been completed
Risk Utility
•Risk utility or risk tolerance is the amount of satisfaction or pleasure received from a potential payoff -Utility rises at a decreasing rate for people who are risk-averse -Those who are risk-seeking have a higher tolerance for risk and their satisfaction increases when more payoff is at stake -The risk-neutral approach achieves a balance between risk and payoff
Benefits of Portfolio Management
•Schlumberger saved $3 million in one year by organizing 120 information technology projects into a portfolio •ROI of implementing portfolio management software by IT departments: -Savings of 6.5 percent of the average annual IT budget by the end of year one -Improved annual average project timeliness by 45.2 percent -Reduced IT management time spent on project status reporting by 43 percent and IT labor capitalization reporting by 55 percent -Decreased the time to achieve financial sign-off for new IT projects by 20.4 percent, or 8.4 days
The Quality Movement
•Scientific Management - Fredrick W. Taylor (1856 - 1915) -Management would set arbitrary rules of thumb •Workers produced so much each day - no more, no less -Believed the production process could be more efficient and employed "Scientific Management" •Break a task down into smaller tasks & study it to find the best and most efficient way of doing it •Time - motion studies using stopwatch -Did not sit well with labor unions because many ignored the human factors & believed profits could be increased by speeding up the workers
Controlling Scope
•Scope control involves controlling changes to the project scope •Goals of scope control are to -influence the factors that cause scope changes -assure changes are processed according to procedures developed as part of integrated change control, and -manage changes when they occur •Variance is the difference between planned and actual performance
Scope
•Scope refers to all the work involved in creating the products of the project and the processes used to create them
Create WBS
A project planning tool that that decomposes or subdivides and organizes the project's scope into a deliverable-orientated hierarchy. Brings you to: Work Breakdown Structure
Scope Control
a defined process for managing changes to project and product scope and the impact of those changes to the project's schedule and budget. brings you to: Scope Change Control Process
What is Project Quality Management?
ensures that the project will satisfy the needs for which it was undertaken Processes include: 1. Planning quality management 2. Performing quality assurance 3. Performing quality control.
Creating the Work Breakdown Structure (WBS)
•A WBS is a deliverable-oriented grouping of the work involved in a project that defines the total scope of the project. The WBS represents a logical decomposition of the work to be performed and focuses on how the product, service, or result is naturally subdivided. It is an outline of what work is to be performed •WBS is a foundation document that provides the basis for planning and managing project schedules, costs, resources, and changes •Decomposition is subdividing project deliverables into smaller pieces •A work package is a task at the lowest level of the WBS •The scope baseline includes the approved project scope statement and its associated WBS and WBS dictionary
Delieverable
•A deliverable is a product produced as part of a project, such as hardware or software, planning documents, or meeting minutes
Negative Risk
•A dictionary definition of risk is "the possibility of loss or injury" •Negative risk involves understanding potential problems that might occur in the project and how they might impede project success •Negative risk management is like a form of insurance; it is an investment
Probability/ Impact Matrix
•A probability/impact matrix or chart lists the relative probability of a risk occurring on one side of a matrix or axis on a chart and the relative impact of the risk occurring on the other •List the risks and then label each one as high, medium, or low in terms of its probability of occurrence and its impact if it did occur •Can also calculate risk factors: -Numbers that represent the overall risk of specific events based on their probability of occurring and the consequences to the project if they do occur
Stakeholder Register
•A stakeholder register includes basic information on stakeholders: -Identification information: The stakeholders' names, positions, locations, roles in the project, and contact information -Assessment information: The stakeholders' major requirements and expectations, potential influences, and phases of the project in which stakeholders have the most interest -Stakeholder classification: Is the stakeholder internal or external to the organization? Is the stakeholder a supporter of the project or resistant to it?
Advice for creating a WBS and WBS dictionary
•A unit of work should appear at only one place in the WBS. •The work content of a WBS item is the sum of the WBS items below it •A WBS item is the responsibility of only one individual, even though many people may be working on it •The WBS must be consistent with the way in which work is actually going to be performed; it should serve the project team first, and other purposes only if practical •Project team members should be involved in developing the WBS to ensure consistency and buy-in •Each WBS item must be documented in a WBS dictionary to ensure accurate understanding of the scope of work included and not included in that item •The WBS must be a flexible tool to accommodate inevitable changes while properly maintaining control of the work content in the project according to the scope statement
Developing the WBS
•A work package is developed for each of the phases and deliverables defined in the Deliverable Structure Chart (DSC)
Planning STakeholder Management
•After identifying and analyzing stakeholders, project teams should develop a plan for management them •The stakeholder management plan can include: -Current and desired engagement levels -Interrelationships between stakeholders -Communication requirements -Potential management strategies for each stakeholders -Methods for updating the stakeholder management plan
Planning Risk Response
•After identifying and quantifying risks, you must decide how to respond to them •Four main response strategies for negative risks: -Risk avoidance -Risk acceptance -Risk transference -Risk mitigation
Classifying Stakeholders
•After identifying key project stakeholders, you can use different classification models to determine an approach for managing stakeholder relationships •A power/interest grid can be used to group stakeholders based on their level of authority (power) and their level of concern (interest) for project outcomes
Cost Estimation Tools and Techniques
•Basic tools and techniques for cost estimates: -Analogous or top-down estimates: use the actual cost of a previous, similar project as the basis for estimating the cost of the current project -Bottom-up estimates: involve estimating individual work items or activities and summing them to get a project total -Parametric modeling uses project characteristics (parameters) in a mathematical model to estimate project costs
Best practices for avoiding scope problems
1. Keep the scope realistic. Don't make projects so large that they can't be completed. Break large projects down into a series of smaller ones 2. Involve users in project scope management. Assign key users to the project team and give them ownership of requirements definition and scope verification 3. Use off-the-shelf hardware and software whenever possible. Many IT people enjoy using the latest and greatest technology, but business needs, not technology trends, must take priority 4. Follow good project management processes. As described in this chapter and others, there are well-defined processes for managing project scope and others aspects of projects
Scope Statement
1.Develop a proactive electronic commerce strategy that identifies the processes, products and services to be delivered through the World Wide Web. 2.Develop an application system that supports all of the processes, products, and services identified in the electronic commerce strategy. 3.The application system must integrate with the bank's existing enterprise resource planning system.
Demming's 14 Points
1.Have a purpose (improve products and services, be competitive, stay in business, and provide jobs). 2.Adopt the new philosophy of management.. 3.Don't depend on inspection at the end. 4.Don't award business based on price alone of price. 5.Keep improving constantly. 6.Institute training on the job. 7.Institute leadership 8.Drive out fear. 9.Break down barriers between departments. 10.Eliminate slogans. 11.a) Eliminate quotas b) Eliminate management by objective and by numbers. 12.Take pride in your work. 13.Focus education and self-improvement. 14.It takes everyone to accomplish the transformation.
Out of Scope
1.Technology and organizational assessment of the current environment 2.Customer resource management and data mining components
Project Quality Management circle graph
1/4: quality management, techniques, philosophies, tools, methods. 2/4 Verification and validation 3/4 change control and configuration management 4/4 Lessons learned and best practices
Scope Verification
A formalized acceptance from the appropriate stakeholders that the defined project scope is complete Brings you to: Scope verification process
Scope Definition
Builds upon the preliminary project scope statement to define all the project and product deliverables, including the processes and criteria for acceptance. Brings you to: Detailed Project Scope
Scope Planning
Documents how the team will define and develop the project's scope and WBS, as well as processes for verifying and controlling the project and product deliverables. Brings you too: Scope Management Plan
Planning quality management
Identifying which quality standards are relevant to the project and how to satisfy them; a matric is a standard of measurement
Deliverable: Test Results Report
Logical Activities: 1.Review the test plan with the client so that key stakeholders are clear as to what will be tested, how the tests will be conducted, and when the tests will be carried out. 2.Carry out the tests as outlined in the plan. 3.Once the test results are collected, we need to analyze them. 4.The results should be summarized in the form of a report and presentation to the client. 5.If all goes well, the client will sign-off or approve the test results and then we can move on to the implementation phase of the project. If not, then we need to address and fix any problems.
Performing quality control
Monitoring specific project results to ensure that they comply with the relevant quality standards
Performing Quality Assurance
Periodically evaluating overall project performance to ensure the project will satisfy the relevant quality standards
Work Package
Project - phase - deliverable - Activity/Task AND Milestone(Deliverable completion) phase also goes to Milestone (phase completion)
Scope Boundary
Work within the scope boundary must support the Project's MOV.
Quality
an inherent or distinguishing characteristic. A property; having a high degree of excellence" Features and Functionality: -Grade is not quality -"fitness for use -"conformance to requirements"
Sensitive Information
•Because a stakeholder management plan often includes sensitive information, it should not be part of the official project documents, which are normally available for all stakeholders to review •In many cases, only project managers and a few other team members should prepare the stakeholder management plan • Parts of the stakeholder management plan are not written down, and if they are, distribution is strictly limited
Importance of project stakeholder management
•Because stakeholder management is so important to project success, the Project Management Institute decided to create an entire knowledge area devoted to it as part of the Fifth Edition of the PMBOK® Guide in 2012 •The purpose of project stakeholder management is to identify all people or organizations affected by a project, to analyze stakeholder expectations, and to effectively engage stakeholders
Determining the Budget
•Cost budgeting involves allocating the project cost estimate to individual work items over time •The WBS is a required input to the cost budgeting process since it defines the work items •Important goal is to produce a cost baseline -a time-phased budget that project managers use to measure and monitor cost performance
What is Cost and 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
Deliverable vs Milestones
•Deliverables -Tangible, verifiable work products •Reports, presentations, prototypes, etc. •Milestones -Significant events or achievements -Acceptance of deliverables or phase completion -Cruxes (proof of concepts) -Quality control -Keeps team focused
Suggestions for improving user input
•Develop a good project selection process and insist that sponsors are from the user organization •Have users on the project team in important roles •Have regular meetings with defined agendas, and have users sign off on key deliverables presented at meetings •Deliver something to users and sponsors on a regular basis •Don't promise to deliver when you know you can't •Co-locate users with developers
Earned Value Management (EVM)
•EVM is a project performance measurement technique that integrates scope, time, and cost data •Given a baseline (original plan plus approved changes), you can determine how well the project is meeting its goals •You must enter actual information periodically to use EVM •More and more organizations around the world are using EVM to help control project costs
Global Issues
•EVM is used worldwide, and it is particularly popular in the Middle East, South Asia, Canada, and Europe •Most countries require EVM for large defense or government projects •EVM is also used in such private-industry sectors as IT, construction, energy, and manufacturing. •However, most private companies have not yet applied EVM to their projects because management does not require it, feeling it is too complex and not cost effective
The quality Movement
•Early humankind -Quality = Survival Craftsmanship: In the middle ages guilds regulated: •Who could sell what in a particular town •Ensured standardized pricing and quality •Supported members & their families when members could no longer work •Regulated forms of labor -Masters - owned the shop -Apprentices - were bound to a master & learned the trade -Journeymen - completed training & waited for a job opening!
Statistics on requirements for software projects
•Eighty-eight percent of the software projects involved enhancing existing products instead of creating new ones •Eighty-six percent of respondents said that customer satisfaction was the most important metric for measuring the success of development projects •Eighty-three percent of software development teams still use Microsoft Office applications such as Word and Excel as their main tools to communicate requirements
Typical Problems and IT Cost Estimates
•Estimates are done too quickly •People lack estimating experience •Human beings are biased toward underestimation •Management desires accuracy
Collecting Requirements
•For some IT projects, it is helpful to divide requirements development into categories called elicitation, analysis, specification, and validation •It is important to use an iterative approach to defining requirements since they are often unclear early in a project
Scope Aspects of IT Project
•Functionality is the degree to which a system performs its intended function •Features are the system's special characteristics that appeal to users •System outputs are the screens and reports the system generates •Performance addresses how well a product or service performs the customer's intended use •Reliability is the ability of a product or service to perform as expected under normal conditions •Maintainability addresses the ease of performing maintenance on a product
The WBS Dictionary and scope baseline
•Many WBS tasks are vague and must be explained more so people know what to do and can estimate how long it will take and what it will cost to do the work •A WBS dictionary is a document that describes detailed information about each WBS item
The importance of Project Cost Management
•IT projects have a poor track record for meeting budget goals •The CHAOS studies found the average cost overrun (the additional percentage or dollar amount by which actual costs exceed estimates) ranged from 180 percent in 1994 to 43 percent in 2010 •A 2011 Harvard Business Review study reported an average cost overrun of 27 percent. The most important finding was the discovery of a large number of gigantic overages or "black swans"
Identifying Risk
•Identifying risks is the process of understanding what potential events might hurt or enhance a particular project •Another consideration is the likelihood of advanced discovery •Risk identification tools and techniques include: -Brainstorming -The Delphi Technique -Interviewing -SWOT analysis
PS Mangement Process
•Identifying stakeholders: Identifying everyone involved in the project or affected by it, and determining the best ways to manage relationships with them. •Planning stakeholder management: Determining strategies to effectively engage stakeholders •Managing stakeholder engagement: Communicating and working with project stakeholders to satisfy their needs and expectations, resolving issues, and fostering engagement in project decisions and activities •Controlling stakeholder engagement: Monitoring stakeholder relationships and adjusting plans and strategies for engaging stakeholders as needed
Planning Quality
•Implies the ability to anticipate situations and prepare actions to bring about the desired outcome •Important to prevent defects by: -Selecting proper materials -Training and indoctrinating people in quality -Planning a process that ensures the appropriate outcome
Identifying Stakeholders
•Internal project stakeholders generally include the project sponsor, project team, support staff, and internal customers for the project. Other internal stakeholders include top management, other functional managers, and other project managers because organizations have limited resources •External project stakeholders include the project's customers (if they are external to the organization), competitors, suppliers, and other external groups that are potentially involved in the project or affected by it, such as government officials and concerned citizens
Methods for collecting Requirements
•Interviewing •Focus groups and facilitated workshops •Using group creativity and decision-making techniques •Questionnaires and surveys •Observation •Prototyping •Benchmarking, or generating ideas by comparing specific project practices or product characteristics to those of other projects or products inside or outside the performing organization, can also be used to collect requirements
Controlling Risks
•Involves executing the risk management process to respond to risk events and ensuring that risk awareness is an ongoing activity performed by the entire project team throughout the entire project •Workarounds are unplanned responses to risk events that must be done when there are no contingency plans •Main outputs of risk control are: -Work performance information -change requests -updates to the project management plan, other project documents, and organizational process assets
Validating Scope
•It is very difficult to create a good scope statement and WBS for a project •It is even more difficult to verify project scope and minimize scope changes •Scope validation involves formal acceptance of the completed project deliverables •Acceptance is often achieved by a customer inspection and then sign-off on key deliverables
The Quality Movement
•Juran's Quality Planning Road Map (Quality Trilogy) -Quality Planning 1. Identify who the customers are. 2. Determine the needs of those customers. 3. Translate those needs into our language. 4. Develop a product that can respond to those needs. 5. Optimize the product features so as to meet our needs as well as customer needs. -Quality Improvement 6. Develop a process that is able to produce the product. 7. Optimize the process. -Quality Control 8. Prove that the process can produce the product under operating conditions. 9. Transfer the process to Operations.
Ways to control enagement
•Key stakeholders should be invited to actively participate in a kick-off meeting rather than merely attending it •The project manager should emphasize that a dialogue is expected at the meeting, including texts or whatever means of communication the stakeholders prefer. The project manager should also meet with important stakeholders before the kick-off meeting •The project schedule should include activities and deliverables related to stakeholder engagement, such as surveys, reviews, demonstrations, and sign-offs.
More Basic Principles of Cost Management
•Learning curve theory states that when many items are produced repetitively, the unit cost of those items decreases in a regular pattern as more units are produced •Reserves are dollars included in a cost estimate to mitigate cost risk by allowing for future situations that are difficult to predict -Contingency reserves allow for future situations that may be partially planned for (sometimes called known unknowns) and are included in the project cost baseline -Management reserves allow for future situations that are unpredictable (sometimes called unknown unknowns
Project Portfolio Management
•Many organizations collect and control an entire suite of projects or investments as one set of interrelated activities in a portfolio •One method for project portfolio management 1.Put all your projects in one database 2.Prioritize the projects in your database 3.Divide your projects into two or three budgets based on type of investment 4.Automate the repository 5.Apply modern portfolio theory, including risk-return tools that map project risk on a curve
Broad Categories of Risk
•Market risk •Financial risk •Technology risk •People risk •Structure/process risk
Topics Addressed in a Risk Management Plan
•Methodology •Roles and responsibilities •Budget and schedule •Risk categories •Risk probability and impact •Revised stakeholders' tolerances •Tracking •Risk documentation
Basic Principles of Cost Management
•Most members of an executive board better understand and are more interested in financial terms than IT terms , so IT project managers must speak their language -Profits are revenues minus expenditures -Profit margin is the ratio of revenues to profits -Life cycle costing considers the total cost of ownership, or development plus support costs, for a project -Cash flow analysis determines the estimated annual costs and benefits for a project and the resulting annual cash flow
Rules of Thumbs for Earned Value Numbers
•Negative numbers for cost and schedule variance indicate problems in those areas •CPI and SPI less than 100% indicate problems •Problems mean the project is costing more than planned (over budget) or taking longer than planned (behind schedule) •The CPI can be used to calculate the estimate at completion (EAC)—an estimate of what it will cost to complete the project based on performance to date. The budget at completion (BAC) is the original total budget for the project
Stakeholder As Key Project Team Members
•On some IT projects, important stakeholders are invited to be members of the project teams •For example, when Northwest Airlines (now Delta) was developing a new reservation system called ResNet, it interviewed reservation agents for positions as programmers on the project team •Northwest made sure that user needs were understood by having them actually develop the system's user interface
Project Cost Management processes
•Planning cost management :determining the policies, procedures, and documentation that will be used for planning, executing, and controlling project cost. •Estimating costs: developing an approximation or estimate of the costs of the resources needed to complete a project •Determining the budget: allocating the overall cost estimate to individual work items to establish a baseline for measuring performance •Controlling costs: controlling changes to the project budget
Project Scope Management
•Planning scope: determining how the project's scope and requirements will be managed •Collecting requirements: defining and documenting the features and functions of the products produced during the project as well as the processes used for creating them •Defining scope: reviewing the project charter, requirements documents, and organizational process assets to create a scope statement •Creating the WBS: subdividing the major project deliverables into smaller, more manageable components •Validating scope: formalizing acceptance of the project deliverables •Controlling scope: controlling changes to project scope throughout the life of the project
Risk Can be Positive
•Positive risks are risks that result in good things happening; sometimes called opportunities •A general definition of project risk is an uncertainty that can have a negative or positive effect on meeting project objectives •The goal of project risk management is to minimize potential negative risks while maximizing potential positive risks
Using Software To assist in project stakeholder Management
•Productivity software, communications software, and collaboration tools can promote stakeholder engagement •Social media can also help engage stakeholders. For example, LinkedIn has thousands of groups for project management professionals •Some project management software includes functionality like Facebook's to encourage relationship building on projects, like giving high fives for a job well done
Controlling Costs
•Project cost control includes -Monitoring cost performance -Ensuring that only appropriate project changes are included in a revised cost baseline -Informing project stakeholders of authorized changes to the project that will affect costs •Many organizations around the globe have problems with cost control
Who's responsible for the quality of projects?
•Project managers are ultimately responsible for quality management on their projects •Several organizations and references can help project managers and their teams understand quality -International Organization for Standardization (www.iso.org) -IEEE (www.ieee.org)
Estimating Costs
•Project managers must take cost estimates seriously if they want to complete projects within budget constraints •It's important to know the types of cost estimates, how to prepare cost estimates, and typical problems associated with IT cost estimates •The number and type of cost estimates vary by application area. The Association for the Advancement of Cost Engineering International identifies five types of cost estimates for construction projects: order of magnitude, conceptual, preliminary, definitive, and control •Estimates are usually done at various stages of a project and should become more accurate as time progresses •A large percentage of total project costs are often labor costs
The WBS...
•Should be "deliverable-oriented" •Should support the project's MOV •Have enough detail to support planning and control •Should involve those who will be doing the work •Should include learning cycles and past lessons learned
Best Practice
•Some organizations make the mistake of only addressing tactical and negative risks when performing project risk management •David Hillson, (www.risk-doctor.com) suggests overcoming this problem by widening the scope of risk management to encompass both strategic risks and upside opportunities, which he refers to as integrated risk management
Using Software to Assist in Cost Management
•Spreadsheets are a common tool for resource planning, cost estimating, cost budgeting, and cost control •Many companies use more sophisticated and centralized financial applications software for cost information •Project management software has many cost-related features, especially enterprise PM software •Portfolio management software can help reduce costs
Types of Costs and Benefits
•Tangible costs or benefits are those costs or benefits that an organization can easily measure in dollars •Intangible costs or benefits are costs or benefits that are difficult to measure in monetary terms •Direct costs are costs that can be directly related to producing the products and services of the project •Indirect costs are costs that are not directly related to the products or services of the project, but are indirectly related to performing the project •Sunk cost is money that has been spent in the past; when deciding what projects to invest in or continue, you should not include sunk costs
The Quality Movement
•The Industrial Revolution -Eli Whitney (1765 - 1825) •Invented the cotton gin •But also invented mass production: -In 1798 received $134,000 from the US Government to deliver 10,000 rifles within 2 years -Shortage of gunsmiths -Developed the manufactory where machines could build interchangeable parts and men could learn to operate the machines -Took 10 years to deliver the last rifle, but proved that the concept worked!
The Quality Movement
•The Rise of Japan -W. Edwards Deming (1900 - 1993) •Worked with Shewhart at Western Electric Hawthorne Plant in Chicago, IL in the 1920s •Management treated the worker as a cog in the machinery •Final inspection used to control quality -Worker not directly responsible -Scrap & rework reduced per piece rate •Invited to give series of day-long lectures in Japan in the 1950s •The rest is history...
The Quality Movement
•The Rise of Japan continued -Joseph Juran (1904 - ) •Viewed quality as "fitness for use" •Also invited to Japan to conduct seminars in the 1950s •Message is that quality does not happen by accident - it must be planned.
Controlling Quality
•The main outputs of quality control are: -Acceptance decisions -Rework -Process adjustments •There are Seven Basic Tools of Quality that help in performing quality control
Earned Value Management Terms
•The planned value (PV), formerly called the budgeted cost of work scheduled (BCWS), also called the budget, is that portion of the approved total cost estimate planned to be spent on an activity during a given period •Actual cost (AC), formerly called actual cost of work performed (ACWP), is the total of direct and indirect costs incurred in accomplishing work on an activity during a given period •The earned value (EV), formerly called the budgeted cost of work performed (BCWP), is an estimate of the value of the physical work actually completed •EV is based on the original planned costs for the project or activity and the rate at which the team is completing work on the project or activity to date
Project Quality Management (PQM) - PMBOK
•The processes required to ensure that the project will satisfy the needs for which it was undertaken. It includes all activities of the overall management function that determine the quality policy, objectives, and responsibility and implements them by means of quality planning, quality assurance, quality control, and quality improvement within the quality system.
Planning Cost Management
•The project team uses expert judgment, analytical techniques, and meetings to develop the cost management plan •A cost management plan includes: -Level of accuracy and units of measure -Organizational procedure links -Control thresholds -Rules of performance measurement -Reporting formats -Process descriptions
Project Quality Management (PQM) Focuses on:
•The project's products -Business Case -Project Plan -The IT Solution -Etc. •And the project's processes -Scope management -Risk management -Requirements Analysis -Design -Implementation Etc
Stakeholder Engagement Levels
•Unaware: Unaware of the project and its potential impacts on them •Resistant: Aware of the project yet resistant to change •Neutral: Aware of the project yet neither supportive nor resistant •Supportive: Aware of the project and supportive of change •Leading: Aware of the project
Issue Logs
•Understanding the stakeholders' expectations can help in managing issues •Issues should be documented in an issue log, a tool used to document, monitor, and track issues that need resolution •Unresolved issues can be a major source of conflict and result in stakeholder expectations not being met •Issue logs can address other knowledge areas as well
Results of Good Project Risk Management
•Unlike crisis management, good project risk management often goes unnoticed •Well-run projects appear to be almost effortless, but a lot of work goes into running a project well •Project managers should strive to make their jobs look easy to reflect the results of well-run projects
Approaches to developing WBS
•Using guidelines: Some organizations, like the DOD, provide guidelines for preparing WBSs •The analogy approach: Review WBSs of similar projects and tailor to your project •The top-down approach: Start with the largest items of the project and break them down •The bottom-up approach: Start with the specific tasks and roll them up •Mind-mapping approach: Mind mapping is a technique that uses branches radiating out from a core idea to structure thoughts and ideas
The Quality Movement
•Walter A. Shewhart (1891 - 1967) -Worked for Western Electric Company (Bell Telephones -Quality improvements needed for underground equipment -Applied statistical theory to control production processes
ontrolling Stakeholder Engagement
•You cannot control stakeholders, but you can control their level of engagement •Engagement involves a dialogue in which people seek understanding and solutions to issues of mutual concern •Many teachers are familiar with various techniques for engaging students •It is important to set the proper tone at the start of a class or project
Additional stakeholder
•www.projectstakeholder.com lists other stakeholders including: -Program director -Project manager's family -Labor unions -Potential customers •It is also necessary to focus on stakeholders with the most direct ties to a project, for example only key suppliers
