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Project Management Overview. Project Management Definition  Project PMT - A project is new unique work that will require the rigor of project management.

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Presentation on theme: "Project Management Overview. Project Management Definition  Project PMT - A project is new unique work that will require the rigor of project management."— Presentation transcript:

1 Project Management Overview

2 Project Management Definition  Project PMT - A project is new unique work that will require the rigor of project management best practices. May involve multiple teams. PMI - A project is a temporary endeavor undertaken to create a unique product, service or result. Kerzner* - A project is an endeavor that has a definable objective, consumes resources, and operates under time, cost, and quality constraints. *Kezner (PM Industry Expert).  Project Management PMT - A project is comprised of tasks, which define the project activities that need to be tracked. Related tasks can be grouped together under summary tasks and dependent tasks can be linked. Very large or complex projects can be further divided into subprojects to make it easier to see the project details.

3 Project Management Definition (cont) PMI - The application of knowledge, skills, tools, and techniques to project activities to meet project requirements. Project Management is accomplished through the application and integration of project management process of Initiating, Planning, Executing, Controlling, and Closing. The Project Manager is the person responsible for accomplishing the project objectives. Kerzner - Project Management is the planning, scheduling, and controlling of a series of integrated tasks such that the objectives of the project are achieved successfully and in the best interests of the project's stakeholders.

4 Gregg’s Definition Project Management Constraints QUALITY BUDGET TIME

5 Project Management is a defined Process  Charter Purpose review and publish  SOW A. Document goals, scope deliverables HL budget estimate Review with Project board  Communication Plan Document communication methods of various level Review with project board, various stakeholders  Risk Strategy  Project Plan  Execute

6 Communication Plan STAKEHOLDERINFO NEEDEDFREQUENCYMEDIUM Project Sponsor Phyllis Shao Team Leader Deliverables Quality Performance Problems/Resolution Assistance Required WeeklyTranSys Meeting Written Reports Project Manager Gregg Davison Deliverables Problems/Resolution Requirements WeeklyTranSys Meeting Transaction Systems Team Members Project Status Problems/Resolution WeeklyTeam Meeting CICSREQ CustomersOn-going Problems/Resolution As NeededEmail – CICS/TS MQSeries Information

7 Basic Problem Solving  Problem Definition  Gather the Facts  Determine the Cause  Develop Alternatives  Select Best Alternative Decision Making Cost / Benefit Analysis  Implement Your Decision  Follow Up

8 “BUZZ WORDS” Efficiency / Effectiveness / Profits  Increase efficiency – get more output from the same input Doing the right things and doing them well  Increase effectiveness – increase quality of the input Doing things right and doing them very well  Two ways to increase Profits, Decrease Costs Increase Revenue Decrease cost rather than increase revenue, because decrease in cost goes to the bottom line, increase in revenue has a cost associated and generates a percentage.

9 Project Team Make-up  The right team has the right stuff, good mix Sponsors, Managers, Business people, Techies and Subject Matter Experts (SMEs)  Small teams work best (5-10 members) If you have the right team you can accomplish what a team of 100 can do No Prima Donna’s

10 Project Risk  Risks exists at;  business level - select right project Program managers or functional managers or senior management with business risk If it turns out there is no demand for office space (once done) - business level responsibility.  project level - execution of the project Project managers are most concerned with project level execution For example, building a new office building on-time and on-cost - project level responsibility

11 Identifying Risks  There are 4 techniques to identify risks 1.Asking stakeholders  Brainstorming sessions  Interviewing 2. Developing a risk profile list  A risk profile (or template) might be gathered from post-mortem reviews of projects.  Develop categories of risks under each category develop possible risk areas refine over time 3. Learning from similar projects (You may be able to find historical records ) 4. Focus on schedule and budget risk

12 Risk Mitigation  Identify the severity of the risk Describe the Risk How will the Risk negatively impact the project  What is the probability of the Risk  Develop a strategy to deal with the risk

13 Identifying Risks (cont) RISKASSIGNEDCOMPLETITION DATE BUDGET AMOUNT MIGITATIONRISK LEVEL BSM01Bert Concord OngoingN/AManagement will attend all meetings 2 BSM02Paul Cosgrave Ongoing$25KAdd consultants /consultant weekly consultations 2 BSM03J. Ranger2QTR/2006$75KOutsource JB Accounting Training of current staff 3 BSM04Bert Concord Ongoing$3.5KTeamwork Training Team outings 3 BSM05Sue Martin4QTR/2006$45KImplement IRS metrics 1

14 QUESTIONS???

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