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Terms in this set (52)
• Specific objectivesto be completed within certain specifications,
• Defined startand enddates,
• Funding limits,
• Human and nonhuman resources, and
• Multifunctional focus.
Project Life Cyles: SOW and Scope Management
- Problem statement
- Conceptual Development
- Project Charter / Statement of Work (SOW)
The whole process is the scope management.
- Information System
- Benefits (Organisation)
- Benefits (Stakeholders)
Successful conceptual development requires:
• Reduction of overall project complexity
• Goals and objects are clearly stated
• Reference points are provided
• Complete understandingof the problem
1.) What are Stakeholders?
2.) What is the most important think by finding the right stakeholders?
1.) Stakeholders are all individuals or groupswho have an active stakein
the project and can potentially impact, either positively or negatively, its
2.) Find the stakeholders that are ready to cooperate!
• Top management
• Other functional managers
• Project team members
• Environmental, political, consumer and other intervener groups
Project Stakeholder Management Cycle
1. Identify Stakeholders
2. Gather information on stakeholders
3. Identify stakeholders' mission
4. Determine stakeholder strengths and weaknesses
5. Identify stakeholder strategy
6. Predict stakeholder behaviour
7. Implement stakeholder management strategy
The process that addresses project objectivesby finding the best ways
to meet them.
Key steps in information development (Conceptual development)
• Problem/need statement
• Information gathering
• Alternative analysis
• Project objectives
Statement of Work = Project Charter - What are the important contents of these?
A SOW is a detailed narrative descriptionof the work required for a project.
1. Introduction and background
2. Technical description
3. Timeline and milestones
4. Client expectations
What are screening models? (Project selection)
What should they have?
Screening models help managers pick winners from a pool of projects.
Screening models are numeric or nonnumeric and should have:
- Ease of use
- Cost effectiveness
Approaches to Project Screening
• Checklist model
• Scoring models
• Financial models
• Profile models
What are the three financial models?
Based on the time value of money principal
• Payback period
• Net present value
• Internal rate of return
All of these models use discountedcash flows.
However, "Payback" model normally applies un-discounted cash flows for ease of understanding.
How do you calculate the payback period?
Investment / Annual Cash Savings
Determines how long it takes for a project to reach a breakeven point
- Cash flows should be discounted.
- Lower numbers are better (faster payback)
What is the project scope?
Project scope is everything about a project - work content as well as
What is scope management and what does it consist of?
Scope managementis the function of controlling a projectin terms of its goals and objectives and consists of:
1. Conceptual development
2. Scope statement
3. Work authorisation
4. Scope reporting
5. Control systems
6. Project Closeout
What are the three key elements of the organisational structure?
1. Designates formal reporting relationships
• number of levels in the hierarchy
• span of control
2. Identifies groupings of:
• individuals into departments
• departments into the total organization
3. Design of systems for
• effective communication
• integration across departments
What is a functional organization?
group people performing similar activities into departments
What is a project organization?
group people into project teams on temporary assignments
What is a matrix organization?
create a dual hierarchy in which functions and projects have equal prominence
What is the Work Breakdown Structure (WBS)?
A process that sets a project's scope by breaking down its overall mission into a cohesive set of synchronous, increasingly specific tasks.
What does WBS accomplish?
• Echoes project objectives
• Offers a logical structure of the project work
• Establishes a method of control
• Communicates project status
• Improves communication
• Demonstrates control structure
What are deliverables?
What are sub-deliverables?
What are work packages
- Deliverables are major project components
- Sub-deliverables are supporting deliverables
- Work packages are "below" the sub-deliverables (i.e. compile guest list in the "invitation" deliverable)
Defining a project work package
1. Work package forms lowest level in WBS.
2. Work package has a deliverable result.
3. Work package has one owner.
4. Work package may be considered by its owner as a project in itself.
5. A work package may include several milestones.
6. A work package should fit organizational procedures and culture.
7. The optimal size of a work package may be expressed in terms on labor hours, calendar time, cost, reporting period, and risks.
What is the Organisational Breakdown Structure (OBS)?
Organizational Breakdown Structure (OBS) allows
• Work definition
• Owner assignment of work packages
• Budget assignment to departments
OBS links cost, activity & responsibility
Project Scheduling Terms
• Network diagram
• Serial activities
• Concurrent activities
• Merge activities
• Burst activities
• Critical Path
What are the five different types of costs?
• Direct vs. Indirect
• Recurring vs. Nonrecurring
• Fixed vs. Variable
• Normal vs. Expedited
• Direct Costs and Overhead:
Direct Costs + Overhead Charge = Total Costs
What are the two different types of contracts?
> Turn key contract= fixed price for a clearly defined product at the start of the project: such as a house (cost and time risk is with the supplier)
> Time and material contract: Price depends on time spent and material used during the contract/project duration
What are the three different ways to create a budget?
• Activity-based costing (ABC)
What are the project manager responsibilities?
• Selecting a team
• Developing project objectives and a plan for execution
• Performing risk management activities
• Cost estimating and budgeting
• Managing resources
How does a project manager lead?
Project managers function as mini-CEOs and manage both "hard" technical details and "soft" people issues.
• Acquire project resources
• Motivate and build teams
What are the four team development stages?
1. Forming - Inclusion
2. Storming - Control
3. Norming - Cooperation
4. Performing - Productivity
5 steps to conflict resolution
• Mediate -defusion/confrontation
• Arbitrate -judgment
• Control -cool down period
• Accept -unmanageable
• Eliminate -transfer
Reasons why teams fail
• Poorly developed or unclear goals
• Poorly defined project team roles & interdependencies
• Lack of project team motivation
• Poor communication
• Poor leadership
• Turnover among project team members
• Dysfunctional behavior
What are the four stages in the project control cycle?
1. Setting a goal
2. Measuring progress
3. Comparing actual with planned
4. Taking action and recycling the process
What is risk management?
the art and science of identifying, analyzing and responding to risk factors throughout the life of a project and in the best interest of its objectives.
What is project risk?
any possible event that can negatively affect the viability of a project.
Where does a project face the biggest risk? (2 Stages)
Execution and Finish Phase
What are the four stages of risk management?
1. Risk identification
2. Analysis of probability and consequences
3. Risk mitigation strategies
4. Control and documentation
What is of assistance when identifying risk factors? (4)
• Brainstorming meetings
• Expert opinion
• Past history
• Multiple (or team based) assessments
What are the managerial considerations when crashing a project?
• Optimize time-cost trade-offs
• Shorten activities on the critical path
• Cease crashing when
− the target completion timeis reached
− the crashing cost exceeds the penalty cost
What are the four different ways why projects get terminated?
What are the common errors when having a "lessons learned" meeting?
• Misidentifying systematic errors
• Misinterpreting lessons based on events
• Failure to pass along conclusions
What should be the guidelines regarding a "lessons learned" meeting?
• Establish clear rules of behaviour
• Describe objectively what occurred
• Fix the problem, not the blame
What should be the corrective project management technique regarding IT development?
Agile Project Management
What is agile project management?
Reflects a new era in
project planning that places a premium on flexibility and
evolving customer requirements throughout the development
What are the characteristics of Agile PM?
- Planning the work and then working the plan
- Customer needs may evolve and change over course of project
- Importance of evolving customer needs leads to incremental, iterative planning process
What are the stages in an agile project called?
Sprints (1-4 weeks)
What are the key success factors in project management (10)?
1. Project mission and scope - clear and concise
2. Top management support -unwavering
3. Project plans & schedules -available and adjusted if necessary
4. Client consultation
6. Technical tasks
7. Client acceptance
8. Monitoring & feedback
9. Communication channels
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