hr and cost perspective of project management

8/13/2019 HR and Cost Perspective of Project management

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Presented To:-Prof. Kapil Saraswat

Presented By:-VIVEK JAISWAL


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Project Human Resource Management

Project human resource management facilitates the ability to lead, direct, andcoordinate the project team, the customers, project partners, contributors, and anyother stakeholders to achieve the desired results for the project purpose.

Project human resource management relies on the general management skills:- Leading Communicating Negotiating Problem solving Influencing


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Project Human Resource Management

Processes that plan, staff, organize, & manage project teams.

Core processes:- Developing the human resource plan :

Identifying and documenting project roles, responsibilities, and reporting relationships.

Acquiring the project team : Getting the needed personnel assigned to and working on the project.

Developing the project team : Building individual and group skills to enhance project performance.

Managing the project team :Tracking team member performance, motivating team members, providing timely feedba

resolving issues and conflicts, and coordinating changes to help enhance projectperformance.


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Maslows Hierarchy of Needs

Maslow's Hierarchy of needs is a theory in psychologyproposed by Abraham Maslow in his 1943 paper "A Theory Human Motivation" in Psychological Review.

Maslow presented the idea that human actions are directedtoward goal attainment. Any given behavior could satisfyseveral functions at the same time; for instance, E.g. Going ta pub could satisfy ones needs for self -esteem and for s

interaction.


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PHYSIOLOGICAL NEEDSBreathing food, water, shelter, clothing, sleep

SAFETY & SECURITY NEEDSHealth, employment, property, family, & social stability

LOVE & BELONGING NEEDFriendship, family, intimacy, sense of connection

SELF- ESTEEM NEEDConfidence, achievement, respect of others,

the need to be a unique individual

SELF-

ACTUALIZATIONMorality, creativity, acceptance,experience purpose, meaning &inner potential


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Herzbergs Motivational and Hygiene Factors

The two-factor theory (also known as Herzberg's motivation-hygtheory and dual-factor theory) states that there are certain factorsthe workplace that cause job satisfaction, while a separate set offactors cause dissatisfaction.

The two-factor theory developed from data collected by Herzberfrom interviews with 203 engineers and accountants in thePittsburgh area, chosen because of their professions' growingimportance in the business world.


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DISC Profiles

DISC assessment is a behavior assessment tool based on the DISC theory of psychologiWilliam Marston.

This tool is used to improve work productivity, teamwork and communication. DISC is non-judgmental and helps people discuss their behavioral differences.

It includes a four-dimensional model of normal behavior:-

Dominance:-Person places emphasis on accomplishing results, the bottom line, confidenceInfluence:-Person places emphasis on influencing or persuading others, openness, relationshipsSteadiness:-Person places emphasis on cooperation, sincerity, dependabilityCompliance:-Person places emphasis on quality and accuracy, expertise, competency


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JUST DO IT

HAVE FUN DOING IT

DO IT RIGHT

DO IT TOGETHER
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Project Cost Management

It includes the processes required to ensure that the project iscompleted within an approved budget.

Project Cost Management Processes:-

Estimating costs : Developing an approximation or estimate of the costs of tresources needed to complete a project.

Determining the budget : Allocating the overall cost estimate to individwork items to establish a baseline for measuring performance.

Controlling costs : Controlling changes to the project budget


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Cost Estimation Tools and Techniques

Basic tools and techniques for cost estimates:

Analogous or, Top-down estimates : use the actual cost of a prsimilar project as the basis for estimating the cost of the currentproject.

Bottom-up estimates : involve estimating individual work itemsactivities and summing them to get a project total.

Parametric modeling: uses project characteristics (parameters) imathematical model to estimate project costs.


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Typical Problems with IT Cost Estimates

Estimates are done too quickly

Lack of estimating experience

Human beings are biased toward underestimation

Management desires accuracy


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Earned Value Management (EVM)

Earned value management (EVM), or Earned value project/performance

management (EVPM) is a project management technique for measuring projectperformance and progress in an objective manner.

EVM is a project management technique for measuring project performance andprogress. It has the ability to combine measurements of:-

ScopeSchedule, andCosts

In a single integrated system, Earned Value Management is able to provideaccurate forecasts of project performance problems, which is an importantcontribution for project management.


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Earned Value Management Terms

The Planned Value (PV) , formerly called the budgeted cost of worscheduled (BCWS), also called the budget, is that portion of the approvedtotal 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 workperformed (BCWP), is an estimate of the value of the physical work actuallycompleted.

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


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EVM Formulas

Budget At Completion ( BAC), This is total planned value for the project. Planned Value, PV= BAC*Planned % Complete Earned value, EV= BAC* Actual % Complete Actual Cost , AC=Money Actually spent on the project Schedule Variance, SV= EV-PV Cost Variance, CV= EV-AC Schedule Performance Index, SPI= EV/PV Cost Performance Index, CPI= EV/AC If SPI >1, Project is ahead of schedule. If CPI>1,Project is under budget.


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hr and cost perspective of project management

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