IS 455 - Project Management Mini review

Agenda Recap & High lights Q & A Copyright Tom Sulzer © 2016

Definitions: A project is a sequence of unique, complex, and connected activities that have one goal or purpose and that must be completed by a specific time, within budget, and according to specification. Copyright Tom Sulzer © 2016

Definitions cont.: Except for Risk these constraints (Scope, Quality, Cost, Time, Risk, Resources) form an interdependent set – a change in one statement can require a change in one or more of the other constraints in order to restore the equilibrium if the project. Copyright Tom Sulzer © 2016

What business situation is being addressed by this project? Definitions cont.: Project Management is a set of tools, templates, and processes designed to answer the following six questions: What business situation is being addressed by this project? What does the business need to do? What will you do? How will you do it? How will you know you did it? How well did you do? Copyright Tom Sulzer © 2016

Definitions cont.: The business situation is either a problem that needs a solution or an untapped opportunity. Copyright Tom Sulzer © 2016

Definitions cont.: Controlling the consumption of budget dollars is the controlling component for Project Cost Management Copyright Tom Sulzer © 2016

Definitions cont.: When recruiting and building an effective team, you must consider not only the technical skills of each person but also the critical roles and chemistry that must exist between and among the project manager and among the team members Copyright Tom Sulzer © 2016

Definitions cont.: Free slack, as mentioned in Chapter 5, is the amount of delay that can be tolerated in a task without affecting the ES date of any of its successor tasks. Copyright Tom Sulzer © 2016

Definitions cont.: Over time can help alleviate some resource over-allocation because it allows more work to be done within the same scheduled start and finish dates. I call this smoothing. Copyright Tom Sulzer © 2016

Where to put Management Reserve Network Diagram work Forward Pass Backward Pass ES, EF, LS, LF Slack Critical Path Where to put Management Reserve Copyright Tom Sulzer © 2016

Example Activity A 2 Activity B 2 Activity D 3 Activity C 5 Activity F 4 Activity E 3 7 12 10 16 1 3 8 5 13 2 4 2 4 Copyright Tom Sulzer © 2016

Example – How did we get the #s? 1 2 3 4 8 12 Activity A 2 Activity B 2 Activity C 5 3 4 8 12 1 2 13 16 Activity F 4 13 16 5 7 8 10 Activity D 3 Activity E 3 5 7 10 12 Copyright Tom Sulzer © 2016

Computing the Slack Activity Slack = LF-EF (or LS-ES) A 2 B 4 C 6 D 5 8 13 11 15 1 3 9 14 5 (S = 2) (S = 0) (S = 0) (S = 0) (S = 0) (S = 2) Activity Slack = LF-EF (or LS-ES) Copyright Tom Sulzer © 2016

Computing Slack - Example 1 2 3 4 8 12 Activity A 2 Activity B 2 Activity C 5 1 (S=0) 2 3 (S=0) 4 8 (S=0) 12 13 16 Activity F 4 13 (S=0) 16 5 7 8 10 Activity D 3 Activity E 3 5 (S=0) 7 10 (S=2) 12 Activity Slack = LF-EF (or LS-ES) Copyright Tom Sulzer © 2016

Determine slack for each task What is the critical path? Network Analysis Determine ES/EF Determine LS/LF Determine slack for each task What is the critical path? If task A is delayed by 7 days, what is the slack for Tasks C, D and F? Recommend the duration of a Manager controlled slack task to be added to the end of the project. What are the pros and cons of having a slack buffer activity before each critical chain task? 1 3 1 4 B (3) A (4) 1 (S=0) 3 7 (S=6) 10 4 9 1 5 5 7 E (6) C (5) D (3) 4 (S=0) 9 5 (S=4) 9 11 (S=6) 13 10 17 8 11 G (8) F (4) 10 (S=0) 14 (S=6) 17 17 18 29 H (12) Copyright Tom Sulzer © 2016 18 (S=0) 29

Determine the Slack for each task What is the critical path? Network Analysis Determine ES/EF Determine LS/LF Determine the Slack for each task What is the critical path? If task A is delayed by 7 days, what is the slack for tasks C, D and F, Critical path? Recommend the duration of a Manager controlled slack task to be added to the end of the project: low vs high risk. What are the pros and cons of having a slack buffer activity before each critical chain task? 1 3 8 11 B (3) A (4) 2 (S=1) 4 8 (S=0) 11 4 9 1 5 12 14 E (6) C (5) D (3) 5 (S=1) 10 6 (S=5) 10 12 (S=0) 14 10 17 15 18 G (8) F (4) 11 (S=1) 15 (S=0) 18 18 19 30 H (12) Copyright Tom Sulzer © 2016 19 (S=0) 30

Q & A Copyright Tom Sulzer © 2016