Project Management 1040 Bus Week 6. June9-13, 2003. Agenda Housekeeping Marking for the past 6 weeks. WBS Quiz review Decision Matrix Work through the Consumer Market study case Apply to our exam review Mid term test review Work with your groups. Hand in Executive overview Derek’s marking scheme BUS 1040/4017

Group activity and assignments marking Week Mark 1 Model build 2 3 Negotiation 4 5 Terms In class group 6 7 WBS quiz BUS 1040/4017

Test review-sources of the test material: Gido and Clements Ch. 1-8 readings PowerPoints Group exercises Movie on project management Class web sites: e.g. Your questions answered page. YAQ. BUS 1040/4017

How is the Mid term structured? 5 True and False – 15 marks 15 Multiple choice – 30 marks 5 Short answer – 25 marks 3 long answer – 30 marks Total 100. Worth 20% of term mark. BUS 1040/4017

Terms, acronyms and definitions P.M.I., PMBOK, C.P.M., P.E.R.T. method R.F.P. and the proposals related to project life cycles. Project industry, trends. Reasons, benefits Project definition, 5 success factors. Various types stakeholders and their roles. Project selection reasons and methods. Decision Matrix Project Scope – three parts (triangle/equilibrium) Trade offs between time, cost and quality. Documentation: Charter, S.O.W. What goes into each document? The WBS and related documents incl. Predecessors!! Responsibilty Matrix. How would you lay it out? What goes where? Estimating methods. Top down, bottom up. Time, materials. What is a baseline in the plan? What does it include? BUS 1040/4017

Operations vs projects. Can you define what qualifies as a project? Management and trends. Operations vs projects. Can you define what qualifies as a project? Acceptance of project management- why does it work? Certification and standards Which industries use it? BUS 1040/4017

Purpose, forms, input from whom – various stakeholders Statement of Work Purpose, forms, input from whom – various stakeholders S.M.A.R.T. formula for goal setting become the objectives S.O.W. contains the contractural elements of the project. S.O.W. is developed into a Plan which includes: Risk management, WBS, schedules, budgets and Responsibilty Matrix’s/s WBS. BUS 1040/4017

Start the planning with Risk management. Gido and Clements. P 108 Why aren’t risk identified in a project – might not get the job? Teams and stakeholders identify risks. Weigh up the severity – impact Weigh up the probability of occurring Include in your plan how to manage the risk Continue to monitor your risks throughout the project . Get reports. Document all of the above and results. BUS 1040/4017

Review The definition stage-learnings from your group work on the model build. The longer you take and more input you get from stakeholders the better the plan. Planning, the reasons for it and the benefits. You have a guideline to work to and measureable standards to evaluate progress. Relationship of project to other departments, managers. team members – use your World Trade Tower meetings as a reminder. You have to negotiate to get some team members on board. Negotiations. What are some things you would say??? The negotiations are resolved and agreed items become the Statement of Work. You announce the start of the project with a Charter. You take the S.O.W. and start making detailed plans. Risk management strategy. WBS. Task list, predecessors, times, schedules, PERT boxes and GANTT charts. work packages, estimates, Responsibilty Matrix’s. BUS 1040/4017

The case we will use in the exam Consumer Market Study Project. See page 117 for the WBS for the project. What would the task list look like? What are the predecessors for the task on the Network diagram? The times for this project are on p. 146. Could you calculate the critical path? Could you convert the Network diagram into a GANTT chart with correct symbols? What would the Responsibility Matrix look like? BUS 1040/4017