week 5 introduction to project management. agenda hybrid wk4 review phase 2: planning ◦...

WEEK 5Introduction to Project Management

AgendaHybrid Wk4 Review

Phase 2: Planning◦Compressing the Schedule◦Risk Analysis

Phase 3: Executing

Hybrid – Chapter 2Any ?’s from last week?

Check completion

REVIEW

RACI ReviewWhat is RACI?

What is the RACI matrix used for?

How would you describe it?

Communication Plan ReviewWhat is the communication plan?

How would you describe it?

Note: We will discuss our tips for organizing and leading an effective meeting later

AON Review What is AON?

What is it used for?

How would you describe it?

What are the general rules for creating one?

Still have questions – look at the tutorial found at http://www.youtube.com/watch?v=nLiAvW7Xvq4

Critical Path ReviewHow would you describe it?

What’s the purpose of knowing the critical path?

Can there be more than one critical path?

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 technique assigned◦ What is it?

◦ Why use this method? (pros &/or cons)

◦ How it is accomplished?

◦ Prepare a mini pptx presentation

◦ Ensure each member of the team has their full name listed in the presentation.

12 minutes to complete & email to me.

Project Risk ReviewType of Review Questions

Stakeholders What could upset them?What are there priorities?

Communication Plan Where could poor communication cause trouble?

Schedule What milestones might be troublesome?

Resource Demand At what point are people overloaded?

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 $200/hr/resource

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.

Executing Phase EffortsAre now:

◦Participating

◦Observing

◦Analyzing the work done

Executing Processes Includes:Team development

Ensure your team knows documentation needs and conventions like naming, storage, retrieval and control

Hybrid / HomeworkChapter 3

Team Project Let’s Plan a WeddingIn groups of up to 3 peopleUse guide/template

Quiz Time