1. Stage 4: Termination and Closure

2. Complete Testing
Testing should constitute 30-45% of any new product development project
Module and regression testing
Just the final system test and acceptance testing is done afterward

3. Obtain signature Signoffs
From customer
From stakeholders

4. Get paid
Contractually, you need some legally binding arrangement that legally obligates the customer to pay

5. Contract types Fixed price Cost Reimbursement These are the extremes
Contractor assumes all of the risk
Contract must produce a specific deliverable within a specific time for a specific price
Cost Reimbursement
Also known as “Cost Plus”
These are the extremes
There are many possibilities between these two

6. Cost Reimbursable Contracts
Cost plus incentive fee (CPIF): the buyer pays the seller for allowable performance costs plus a predetermined fee and an incentive bonus
Cost plus fixed fee (CPFF): the buyer pays the seller for allowable performance costs plus a fixed fee payment usually based on a percentage of estimated costs

7. Cost Reimbursable Contracts
Cost plus percentage of costs (CPPC): the buyer pays the seller for allowable performance costs plus a predetermined percentage based on total costs

8. Time and Material Contracts
Commonplace in information technology
Are a hybrid of fixed price and cost reimbursable contracts
Contractor is reimbursed for specific performance (time), and for his material costs

9. Contract Types Versus Risk

10. Statement of Work (SOW)
A statement of work is a description of the work required for the procurement
Many contracts, or other mutually binding agreements, include SOWs
A good SOW gives bidders a better understanding of the buyer’s expectations

11. Statement of Work (SOW) Template

12. Sell the next project to the Customer
Especially if the previous contract was a fixed price one
And, there was a lot of “Wouldn’t it be really neat ifs…” after the project began execution

13. Hold formal-post project meeting (Post-Mortem)
Discuss what went well
Discuss what went not so well
Discuss what could be improved

14. Document Lessons Learned
How could we have managed better?
What would we do differently next time?

15. Populate history database
For task durations, especially
Or, to be used to verify task durations

16. Notes on shortening project durations
This must be done in the Planning and Budgeting stage
Crashing
Reducing the duration of tasks on the critical path
Fast-tracking
Starting tasks sooner
Adding resources
Checking for parallelism opportunities in the schedule
(The Gantt Chart)
Removing Safety

17. More techniques for shortening projects
Scrub the requirements
Remove from the requirements those items that add little or no value
Remember the Pareto principle—80% of the value comes from 20% of the functionality

18. More techniques for shortening projects
Reuse, reuse, reuse
Do it right the first time
(The quality mantra)
Use Learning & Maturity Concepts
Org. learning
Capability Maturity Models
Maturity concepts

19. That’s IT folks!!