1. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Project Mgt. BUS 1040/4017 Welcome to: Project Management Week three. Instructor: Fred Pentney Class slogan: Give me an “A”.

2. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Project Management. Week 3 Review of previous week (2) Marking system for 20% - see Web CT Evaluation/My Grades Terms-review to date; keep adding to your lists Lecturette on Project selection. Financial vs. non financial. Success factors for projects. Types of orgs. P.M. skills and strengths. Approaches to success.

3. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Week three agenda: Close out review of last Week’s project Complete a weighted decision matrix. Case. P. 29 Stakeholders reports (questions), teams and other issues? Group activity. World Trade Centre meeting Definition stage of project cycle – next steps Statement of work. Charter Responsibility Matrix Communication Matrix Conflict resolution exercise.

4. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Project selection Non financial reasons Financial reasons. Payback time Payback % of return Net Present Value. Weighted decision model – a mixture of different criteria.

5. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 R.R.P’s and Proposals The R.F.P. contains a S.O.W – Statement of Work Proposals are selected because they meet the requirements in the R.F.P. Or, bring needed elements to the project. Decision are made to choose best propsal

6. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Weighted Decision Matrix Set the criteria. Assign weights. Must = 100% Set the range. Upper and lower limits Compare projects/options to criteria and range. Post scores and multiply factors.

7. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Review You don’t need to go through the R.F.P/Proposal process to start a project – but you would or larger or “formal” projects. You can go straight to Definiton stage of a project and work out the details with Stakeholders. Either way you “Define.” In the Definition is a Statement of Work. S.O.W.

8. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Defining the Project Statement of work S.O.W. – creates a structure for Definition S.O.W. contains RULES for project Who has authority? Write the Charter Start a Responsibility matrix Start a Communication matrix

9. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Statement of Work 1. Purpose of the project 2. Scope statement-major activities 3. Deliverables-product description 4. Cost and schedule estimates 5. Objectives 6. Stakeholders 7. Chain of command – Org. chart Ref: Gido and Clements. P. 31-33

10. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 S.O.W. Who has input ? Stakeholders: 1.Project manager 2.Sponsor: Customer, Victims Association 2.Customer: City of New York 4.Management: Construction company 5.Team members: Employees, vendors, contractors

11. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Stakeholders meeting Questions raised at meeting? How do you resolve issues? Who makes the final decisions?

12. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 S.O.W. The Charter – Formal recognition Endorsed by the Sponsor or Customer Defines the authority Defines the project in broad terms Key players including the Project Mgr. It is a one time announcement

13. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Responsibility matrix Who across the ageJohn What, down the page EstimatesR Include a legend R=Responsible

14. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Who needs the info. Right info. to the right people at the right time. Sponsor Functional management Project team Project Mgr. – receives info. too Don’t send everything to everybody

15. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Risk management The Responsibility and a Communication matrix’s are the first steps in minimizing risk. Specific Risk management strategies will be developed during the Planning stage.

16. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Negotiation exercise You Partner Agree on an Issue Both keep your own notes

17. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Homework Continue to make up your list of new terms and definitions from the lectures. Hand this in at beginning of class, week 5. Make sure you keep a copy for y’self. Go to web and collect definitions, charter docs., sample Responsibility matrix t

18. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Week 4 preview Planning stage. Task lists Work Breakdown Structure Schedules-networks Critical Path Method (C.P.M.) Work packages Estimate

19. define plancontrol BudgetQuality Time BUS 1040/4017-Week 3 Today - review Key learning's Liked Do different