1. Project Management in Practice
OPMA 5364
Project Management
Introduction
David Weltman, PhD

2. Outline: Responsibilities / Requirements /Grading Group Projects
Part 1: The World of Project Management
Part 2: The Manager, Organization, & Team
Part 3: Planning the Project
Part 4: Budgeting the Project
Part 5: Scheduling the Project
Part 6: Allocating Resources to the Project
Part 7: Monitoring & Controlling the Project
Part 8: Evaluating & Terminating the Project
Cases
Guest Speakers

3. Responsibilities / Requirements / Grading

4. Group Project More information about the project is on the syllabus.
Your group project for the course will be to develop a plan for starting a new small or mid-sized business of your choice. The purpose of the group project is to give you the opportunity to plan all aspects of a new project, and to organize and coordinate all the necessary activities within your group to accomplish this group project (e.g., which tasks are needed, how to divide up the tasks, who in your group will do each task, etc.). Your group must decide what type of business to start, develop performance objectives/goals, determine personnel needs, determine resource requirements, develop budgets (for startup activities and for annual ongoing operations), develop an implementation schedule, develop annual revenue and profit projections for 5 years, and conduct a risk analysis.
More information about the project is on the syllabus.

5. Schedule
The revised schedule will be updated on the class website.

6. Part 1: The World of Project Management
Introduction to project management
Project goals, objectives, tradeoffs
Project life cycles
How are projects selected
Selection exercise / case

7. Part 1: The World of Project Management
Sunday 8/29/2010

8. Part 2: The Manager, the Organization, and the Team
Selecting the project manager
Roles of a project manager
Project management as a profession
Project Management Institute (PMI)
Projects and the parent organization
The project team
Tips for managing meetings

9. Part 3: Planning the Project
Contents of a project plan
Project launch meeting
The planning process
Project action plan
Work breakdown structure (WBS)
Project
Conception
Program
Launch
Meeting
Action
Plan
Project
Master
Schedule

10. Part 4: Budgeting the Project
Budgeting methods
Estimating costs
Budget uncertainty and risk management
CB Homework / exercises

11. Part 5: Scheduling the Project
Project network diagrams
Identifying critical paths and activities
Determining activity slack times
Gantt charts
Working with Microsoft Project
Uncertainty and risk management
Simulation approach to managing risk

12. Part 6: Allocating Resources to the Project
Expediting a project
Resource loading
Resource leveling
Allocating scarce resources to projects
Goldratt’s critical chain

13. Part 7: Monitoring and Controlling the Project
Data collection and reporting
Earned value analysis
Project control
Scope creep and change control

14. Part 8: Evaluating and Terminating the Project
Project audits
Project final report
Termination activities

15. Introductions Name Company Position Experience with projects
Are you currently working on a project?

16. Course Learning Objectives
Gain an appreciation of the multiple goals and complexities of projects
Gain a better understanding of the roles, responsibilities, challenges, and rewards for project managers
Learn how to better manage project teams and participants
Learn how to better manage project conflicts
Gain an understanding of the tools and approaches to better manage project schedules, budgets, and risks
Gain an understanding of the tools and approaches to better control project performance
Evaluate and select the most desirable projects.
Identify desirable characteristics of effective project managers.
Apply appropriate approaches to plan a new project.
Apply appropriate methodologies to develop a project schedule.
Develop a suitable budget for a new project.
Identify important risks facing a new project.
Apply appropriate techniques to assess ongoing project performance.