Project Management Mid-term Study Guild

Project selection

Involves evaluating potential project and then deciding which of these should move forward to be implemented.

Latest Start Time (LS)

Is the latest time by which a specific activity must be started for the entire project to be finished by the required completion time. It is calculated by subtracting the activity estimated duration from the activity latest finish time.

MileStone

Schedule is a list of target dates or time(also referred to as mile stone dates) for the occurrence of key events(also referred to as milestone) in the project timetables.

Issues log

Should be created of specific issues or concerns or question that various stakeholder identify so that the project manger, project team or sponsor/customer can address them and make sure they are not forgotten or dismissed without an adequate follow up and response.

Critical Path

Similarly a project cannot be completed until the long (most-time-consuming) path of activities is finished. This longest path in the overall network diagram is called the "Critical Path".

Estimated Duration

For each activity must be the total elapsed time - the time for the work to be done plus any associated waiting time.

Stakeholder

Individuals or entities involved in or who may influence or may be affected by a project such as the customer/sponsor; project team, including the project manger, subcontractors, and consultants; end user or consumers; and advocacy groups.

Establish Project Start and Completion Time

To established a basis from which to calculate a schedule using the estimated duration for the activities, it is necessary to select a "project estimated start" time for when the project is expected to begin the "project required completion" time for when the project must be done.

List 8 Bid/no-bid decision factors

1. Competition 2. Risk 3. Mission 4. extension of capabilities 5. reputation 6. Customer Funds 7. Proposal resources 8. Project resources

List 8 Customer Criteria for evaluating proposals

1. Compliance with customer statement of work and requirements in the RFP 2. Contractors understand of the customer need or problems 3. Soundness and practicality of the contractors proposed approach to solving the problem 4. Experience of key individual who will be assign to work on the project 5. Management capability to plan and control project 6. Realism of contractors schedule 7. Price 8. Contractors experience and success with similar projects.

List 4 Project Selection

1. Develop a set of criteria against which the project will be evaluated 2. List assumptions 3. Gather data and information for each project 4. Evaluate each project against the criteria

List 4 of the Project Objective and Inclusions

1. Expected benefit 2. Primary Project end product or deliverable 3. Date 4. Budget

Project Process Group List 5

1. Initiating 2. Planning 3. executing 4. monitoring 5. closing

List out 7 Project Attributes

1. Objective 2.Interdependent activities (or task) 3. Time frame or finite life span 4. unique or one-time endeavor 5. utilize various resources 6. a sponsor or customer 7. degree of uncertainty

List 17 Charter and Element

1. Project Title 2. Purpose Summarized 3. Description of the project 4. Objective 5. Success Criteria or expected benefit 6. Funding 7. Major deliverable 8. Acceptance criteria 9. Mile Stone schedule 10. Key assumptions 11. Constraints 12. Major risk 13. Approval requirements 14. Project manager 15. Reporting requirements 16. Sponsor design 17. Approval signature

List 14 RFP Inclusion

1. Project objective 2. Statement of work 3. Customer requirement 4. deliverable 5. acceptance criteria 6. Customer supply items 7. State the approvals required by the customer 8. Type of contract the customer intends to use 9. State payment terms of the customer 10. Required schedule 11. instruction for the format and content of the contractor proposal 12. due date by which customer expects potential 13. Evaluation criteria 14. Rare cases, indicate the funds the customer has available to spend on project

Project knowledge areas List 10

1. Scope 2. Time 3.Cost 4.quality 5.Communication 6.Resources 7.Integration 8. Risk 9. procurement 10.Stakeholder

3 selection and main inclusion

1. Technical selection 2. Slanagement selection 3. Cost selection

Network Diagram

A tool for arranging and displaying specific activities in the appropriate sequence and defining their dependent relationships. It defines the sequence of how the activities will get done.

Statement of Work (SOW)

Defines the major task that will need to be performed to accomplish the work that needs to be done and produce all the project deliverable.

Project Scope

Defines what need to be done. It is all the work that must be done to produce all the project deliverable, satisfy the sponsor or customer that all the work and deliverable meet the requirement and acceptance criteria and accomplish the project objective.

Request for proposal

Document prepared by the sponsor/customer which defines the project requirement and is used to solicit proposals from potential contractors to do the project.

Bid/no-bid decision

Evaluation by contractor of whether to go forward with the preparation of a proposal is sometime referred to as the bid/no bid decision.

Project Management

Planning, organizing, coordinating, leading, and controlling, resources to accomplish the project objective.

Stake register

Potential stake holders are identified a list should be created that includes key contract information role or specific topics of interest, expectations, any known issues and areas of potential influence of each stakeholder. Such a document is sometimes referred to as a stakeholder register. During the performance of the project, information about stakeholders may change or additional stakeholder may be identified. The stakeholder register is a convenient tool to keep all stakeholder information consolidated and up to date.

Proposal Content

Proposals are often organized into three three section: technical, management, and cost.

Latest Finish Time (LF)

The latest time by which a specific activity must be completed for the entire project to be finished by its required completion time. It is calculated on the basis of the project required completion time and the estimated duration of succeeding activities.

Work Package

The lowest level work item of any one branch is called a work package includes all of the specific work activities that need to be performed to produce the deliverable associated with that work package.

Work Breakdown Structure (WBS)

The major work task defined in the SOW section along with the detailed list of deliverable provide the basis for creating a WBS, which is a hierarchical decomposition of the project work scope into work package that produce the project deliverable.

Project Objective

The planning process is based on the project objective, which established what is to be accomplished. Often the project object is stated in the project charter or request for the proposal RFP.

Project Control Process

involves regularly gathering data on project performance, comparing actual performance to planned performance and taking corrective action immediately if actual performance is behind planned performance.

Total Slack

1) LF - EF 2) LS - ES

Win Ratio

A measure that is often used is known as the win ratio which is the percentage of the number or dollar value of the contractor proposals that result in contractual agreement with customer.

Project management Institutes (PMI)

A premier worldwide not for profit association for practitioner in the project management profession and individuals who want to learn more about the profession.

Activity

Also referred to as a task is defined piece of work that consume time. It doesn't not necessarily require the expenditure of the effort by people - Example waiting for concrete to harden can take several days but does not require any human effort

Project

An endeavor to accomplish a specific objective through a unique set of interrelated activities and the effective utilization of resources.

Free Slack

Another type of slack that is sometime calculated is free slack (FS) also referred to as "free float", which is the amount of time a specific activity can be postponed without delaying the ES time of its immediately succeeding activities.

Responsibility Assignment Matrix (RAM)

Illustrates who will be responsible for the work.

Project Quality Plan

In order to prevent poor quality and avoid quality problem there need to be a "project quality plan". The quality plan must include or reference the specification, industry or government standard (for design, testing, safety, construction, and so forth) and codes that must be used and met during the performance of the project work.

Total Slack

In the consumer market study project, there is a difference of eight days between the calculated EF time of the very last activity ("Prepare Report") and the project required completion time. This difference is the "total slack" (TS) also referred to as total float.

Gantt Chart

Network-based planning and scheduling techniques are often compared to another somewhat familiar tool known as bar chart, sometime referred to as a "Gantt Chart" that display activities along a time scale.

Project Chater

Once a project is selected it is formally authorized using a document referred to as a project charter, or project initiation document.

Scope Creep

The Project team or contractor must avoid scope creep, which is informally making changes to the project scope without appropriate approval.

Cost-Reimbursement contract

The customer agree to pay the contractor for all actual cost(labor, material, and so forth) regardless of amount plus some agreed-upon profit.

Fix Price Contract (FPC)

The customer and the contractor agree on a price for the proposed work.

Earliest Start time (ES)

The earliest time at which a specific activity can begin calculated on the basis of the project estimated start time and the estimated duration of preceding activities.

Earliest Finish time (EF):

The earliest time by which a specific activity can be completed calculated by adding the activity estimated duration to the activity earliest start time