WEEK 5Introduction to Project Management
AgendaPhase 2: Planning
◦Compressing the Schedule◦Risk Analysis
Phase 3: Executing
COMPRESSING THE SCHEDULE
Methods of Compressing
Crashing ◦Look at alternatives that provide the
maximum compression for the least cost
Fast Tracking◦Compressing the project schedule by
overlapping activities that would normally be done in sequence
INCREASES RISK
Increasing ResourcesDecreasing the time it takes to
perform individual activities by increasing the number of people working on the activity
◦Example: If it takes Joe 4 hours to complete Logically it would take Joe & Mary 2 hours
to complete
Increasing Resources - ConsConsider the following
◦New sources are not familiar with the tasks .: less productive than current team members
◦Who will guide the new member along the learning curve?
◦Being available != being qualified
◦May increase costs
Task SplittingAim to take a large task and split
it into 2 or more smaller tasks,◦Each of which could start ahead of
the completion of the previous one.
Considerations:◦Task must be on critical path◦Cannot use same resources◦May cause new critical path
RISK MANAGEMENT
Risk ManagementIdentifies threats that can affect the
project Planning to proactively deal with
the threats
Risks should be considered for:◦Health & Safety◦Environmental◦Legal◦Financial
Risk Identification Techniques1. Interview with SME’s2. Brainstorming3. Delphi Technique4. Nominal Group Technique5. Crawford Slip6. Analogy7. Checklist, forms, and templates8. SWOT9. Cause & Effect Diagram
Risk Identification Workshop
In groups, research the techniques◦ What is it?
◦ How it is accomplished?
◦ Prepare a mini presentation
◦ Upload the presentation to the file exchange
10 minutes to complete
Project Risk ReviewType of Review Questions
Stakeholders What could upset them?
Communication Plan Where could poor communication cause trouble?
Schedule What milestones might be troublesome?
Resource Demand At what point are people overloaded?
Peers Can your peers identify any additional risks?
Management Can management identify any additional risks?
Plan Risk Management Example
Specific Project Stakeholder Priorities
Improve Keep Sacrifice
ScopeX
QualityX
Time <= 1 month to save $5,000
Cost Want to save
Risk IdentificationIdentify the risk event(s)Keep them realisticExample:
Resources may be constrained due to team members working on other projects
Significant schedule delays may occur due to team being unfamiliar with the new application or process
Qualitative Risk Analysis
Risk Description Probability(10% - 90%)
Impact(H 3, M 2, L 1)
Severity= P * I
A
Resources may be constrained due to team members working on other projects
70% 2 1.4
B
Significant schedule delays may occur due to team being unfamiliar with the new application or process
80% 3 2.4
• Use Severity to identify the risks worth planning
Risk Response Planning
Risk Response Plan Schedule Adjustment
Cost Adjustment
A
Schedule bi-weekly meetings with sr management to provide status updates and resolve any resource conflict
+ 20 hrs 0
B
Send sr team member on training (before implementation)
Contract with vendor for consulting services during the 1st week of planning
+ 40 hrs
+ 0 hrs
$2,000
$9,000
PROJECT EXECUTION
Executing Projects
“Time to get to business and ‘just get it done’ “
Initiating
Planning
Executing
Controlling Closing
Executing The process of coordinating the people and other resources to carry out the plan.
Project executing efforts are now:◦Participating◦Observing◦Analyzing the work done
Executing ProcessesThe process include
◦Team development Ensure your team knows documentation
needs and conventions like naming, storage, retrieval and control
◦Performance Monitoring◦Status reports◦Procurement (if applicable)
RFI, RFQ, RFP
Group ExerciseIn groups of 3 maximumSearch for different versions of a status report
(or deliverable template)Download and save 2 Create a mini presentation to show to the class
the downloaded templates and prepare to discuss the differences or nuances
Upload the templates and presentation to the file exchange
20 minutes
EFFECTIVE COMMUNICATIONS
MeetingsPrepare agendasSend out agendas to allow for preparation time
Minutes/action items
Establish communication rules (at the beginning of the project)
Emails Create standardized email distribution lists◦Cc’s to team members (especially on
client emails)
Use “Out of Office” option
Instant MessagingGood for client callsGood for out of office team members
Group ExerciseIn groups of 3 maximumSearch and list 10 things you can do to organize and lead effective meetings
Download and save an agenda
20 minutes
Hybrid / HomeworkRead Chapter 3Complete all activities required
while reading chapter 3Complete the Fill in the Blank
exercise for chapter 3Complete the Multiple Choice for
chapter 3
Quiz Time