week 5 introduction to project management. agenda phase 2: planning ◦ compressing the schedule ◦...

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