Atec 2340 lecture7
- 1. ATEC ARTS & TECHNOLOGY ATEC 2340 Project Management for Arts & Technology - I
- 2. ATEC 2340 Project Management for Arts & Technology - I Agenda • Project Time Management • Project Cost Management • Mid Term
- 3. ATEC 2340 Project Management for Arts & Technology - I Project Management Body of Knowledge (PMBOK)
- 4. ATEC ARTS & TECHNOLOGY ATEC 2340 Project Management for Arts & Technology - I Project Time Management
- 5. ATEC ARTS & 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.
- 6. ATEC ARTS & 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
- 7. ATEC ARTS & TECHNOLOGY ATEC 2340 Project Management for Arts & Technology - I Project Time Management: The Big Picture
- 8. ATEC ARTS & 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.
- 9. ATEC ARTS & 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
- 10. ATEC ARTS & 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.
- 11. ATEC 2340 Project Management for Arts & Technology - I Project Time Management: The Big Picture
- 12. 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 B Activity A is a predecessor of activity B Activity B is a successor of activity A
- 13. ATEC ARTS & 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
- 14. ATEC 2340 Project Management for Arts & Technology - I Precedence Relationships ATEC 2340.001.F16 Sagar Wadhwani http://www.stellman-greene.com
- 15. ATEC ARTS & 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)
- 16. ATEC ARTS & 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.
- 17. ATEC ARTS & TECHNOLOGY ATEC 2340 Project Management for Arts & Technology - I A Sample Network Diagram
- 18. ATEC 2340 Project Management for Arts & Technology - I Project Time Management: The Big Picture
- 19. ATEC ARTS & 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?
- 20. ATEC 2340 Project Management for Arts & Technology - I Project Time Management: The Big Picture
- 21. ATEC ARTS & 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.
- 22. ATEC ARTS & TECHNOLOGY ATEC 2340 Project Management for Arts & Technology - I Developing the Schedule
- 23. ATEC ARTS & 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.
- 24. ATEC ARTS & 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.
- 25. ATEC ARTS & TECHNOLOGY ATEC 2340 Project Management for Arts & Technology - I A Sample Gantt Chart
- 26. ATEC ARTS & 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.
- 27. ATEC ARTS & 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.
- 28. ATEC ARTS & 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.
- 29. ATEC ARTS & 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.
- 30. ATEC ARTS & TECHNOLOGY ATEC 2340 Project Management for Arts & Technology - I Project Cost Management
- 31. ATEC 2340 Project Management for Arts & Technology - I Project Management Body of Knowledge (PMBOK)
- 32. ATEC ARTS & 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
- 33. ATEC ARTS & 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.
- 34. ATEC ARTS & TECHNOLOGY ATEC 2340 Project Management for Arts & Technology - I Project Cost Management Process 1. Plan Cost Management 2. Estimate Costs • Develop an estimate or approximation of the monetary resources needed to complete project activities.
- 35. ATEC ARTS & TECHNOLOGY ATEC 2340 Project Management for Arts & Technology - I Project Cost Management Process 1. Plan Cost Management 2. Estimate Costs 3. Determine Budget • Combining the total estimated costs of individual activities – plus contingency – to develop a cost baseline, also known as approved budget.
- 36. ATEC ARTS & TECHNOLOGY ATEC 2340 Project Management for Arts & Technology - I Project Cost Management Process 1. Plan Cost Management 2. Estimate Costs 3. Determine Budget 4. Control Costs • Monitor and manage costs, as based on status of activities.
- 37. ATEC ARTS & 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
- 38. ATEC ARTS & TECHNOLOGY ATEC 2340 Project Management for Arts & Technology - I Estimate Costs Inputs: • 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
- 39. ATEC ARTS & 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
- 40. ATEC ARTS & 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