1. WEEK 5 Introduction to Project Management

2. COMPRESSING THE SCHEDULE

3. Methods of Compressing 1. CRASHING ◦ Look at ALTERNATIVES that provide the maximum compression for the least cost 2. FAST TRACKING ◦ Compressing the project schedule by OVERLAPPING activities that would normally be done in sequence INCREASES RISK

4. COMPRESSING 1)CRASHING: INCREASING RESOURCES Decreasing the time it takes to perform individual activities by increasing the number of people working on the activity ◦ Example:  If it takes Joe 4 hours to complete  Logically it would take Joe & Mary 2 hours to complete

5. COMPRESSING 1)CRASHING: cont. Increasing Resources - CONS Consider the following ◦ New sources are not familiar with the tasks.: less productive than current team members ◦ Who will guide the new member along the “learning curve”? ◦ “Being available” is not equal to being qualified ◦ May increase costs

6. COMPRESSING cont. 2) FAST TRACKING TASK SPLITTING Aim to take a large task and split it into 2 or more smaller tasks, ◦ Each of which could start ahead of the completion of the previous one. Considerations: ◦ Task must be on “Critical Path” ◦ Can NOT use same resources ◦ May cause new “Critical Path”  Because may decrease amt. of days required

7. RISK MANAGEMENT

8. Risk Management 1) Identifies threats that can affect the project and 2) The planning to proactively deal with the threats Risks should be considered for: ◦ Health & Safety ◦ Environmental ◦ Legal ◦ Financial

9. Examples of: “Risk Categories” Health & Safety—some organizations will do planning for pandemics in other words what resources would be available if a pandemic broke out Environmental-if there is a snowstorm and people can’t come to work Legal you can’t get certain patents or governmental approval Financial your funding did not get approval

10. Risk Identification Techniques Interview with SME’s (Subject Matter Experts) Brainstorming Delphi Technique Nominal Group Technique Crawford Slip Analogy Checklist, forms, and templates SWOT Cause & Effect Diagram

11. Interview with SME’s SME’s (Subject Matter Experts) Technique used to inquire about issues related to doubts and other technical characteristics Process ◦ Define the SCOPE ◦ Use a facilitator ◦ List of INTERVIEWEES (subject matter experts) ◦ Develop the questions ◦ Send and receive answers ◦ CONSOLIDATE responses

12. Delphi Technique A way to reach a CONSENSUS of experts (Interview SME’s (Subject Matter Experts) ◦ A facilitator uses a QUESTIONNAIRE to get ideas about important risks ◦ Responses are summarized, & RECIRCULATED to experts for further comment Helps reduce bias, & having 1 person have undue influence on the outcome

13. Delphi Technique cont. Interviews are ANONYMOUS Used when there may be conflicts or when brainstorming is not recommended Used to get comments from competitors SLOW PROCESS

14. Brainstorming Identification of many Risks Team must be available Highly creative Encourages TEAMWORK If NOT adequately executed, it can lead to “chaos” ◦ Depends on how good the facilitator is ◦ Sometimes you get “volume” but not necessarily depth or quality ◦ Doesn’t work for introverts Works better if you go in teams of “2”, and then come back to the group

15. Brainstorming Process Define the scope Get a facilitator Get a list of PARTICIPANTS Conduct brainstorming session CONSOLIDATE responses Fill up the list with the identified risks

16. Nominal Group Technique Used in problem solving sessions to encourage creative thinkingproblem solving creative thinking INDIVIDUAL brainstorming Get the info IN ADVANCE Mix of individual and group participation Fast and effective Lessens the “chaos” of brainstorming Each member of the group writes down his or her ideas, which are then discussed and prioritized one by one by the groupwritesideas

17. Crawford Slip 1920’s, with PIECES OF PAPER Used to identify many risks in a short period of time Use it when you do not have TIME or ABILITY to discuss ideas, and just want to collect people's thoughts. Uses a “slip” or “post-it” Individual brainstorming Group consolidation

18. Analogy Based on previous history ◦ What risks other similar projects had Reference is needed Available information must be adjusted to the current scenario

19. Strengths, Weaknesses, Opportunities, Threats SWOT

20. SWOT cont. A method used for controlling areas of planning and risk and highlight areas of the project that could be maximized to the benefit of the whole project ◦ or individual areas where some competitive advantage may be gained. It is used to evaluate particular activities of the project in order to optimize their potential as well as to evaluate risks

21. SWOT cont. Normally performed during the initial project start-up phase so that the elements of the analysis can form the basis of the project plan Also can be used later in the project IF the project is running into difficulties with scheduling, deliverables or budget and needs to be brought back on track.

22. Aka Fishbone Diagram Cause & Effect Diagram ( Explanation: Next 2 slides)

23. Graphically illustrates the relationship between a given OUTCOME and all the FACTORS that influence this outcome. Specify the effect to be analyzed. The effect can be positive (objectives) or negative (problems). Place it in a box on the right side of the diagram. Cause & Effect Diagram cont.

24. List the major categories of the factors that influence the effect being studied. ◦ The “4 Ms” (Methods, Manpower, Materials, Machinery) or the: ◦ “4 Ps” (Policies, Procedures, People, Plant) are commonly used as a starting point. Cause & Effect Diagram cont.

25. Type of ReviewQuestions StakeholdersWhat could upset them? Communication PlanWhere could poor communication cause trouble? ScheduleWhat milestones might be troublesome? Resource DemandAt what point are people overloaded? PeersCan your peers identify any additional risks? ManagementCan management identify any additional risks? Project Risk Review

26. TRIPLE CONSTRAINTS : balance out 1) performance, 2) cost and 3) time, WHILE MAINTANING QUALITY, QUALITY IS PARAMOUNT, requiring the balancing of Performance, Cost & time Do you want them to improve, keep, or sacrifice? Specific Project Stakeholder Priorities ImproveKeepSacrifice Scope X Quality X Time <= 1 month to save $5,000 Cost Want to save Plan Risk Management

27. Risk Identification Identify the risk event(s) Keep them realistic Example:  Resources may be constrained due to team members working on other projects  Significant schedule delays may occur due to team being unfamiliar with the new application or process

28. Qualitative Risk Analysis

29. Qualitative Risk Analysis cont. Risk DescriptionProbability (10% - 90%) Impact High “3”, Medium “2,” Low “1” Severity = P * I A Resources may be constrained due to team members working on other projects 70%21.4 B Significant schedule delays may occur due to team being unfamiliar with the new application or process 80%32.4

30. Risk Response Planning Risk Response PlanSchedule Adjustment Cost Adjustment A Schedule bi-weekly meetings with Senior management to provide status updates and resolve any resource conflict + 20 hrs0 B Send Senior team member on training (before implementation) Contract with vendor for consulting services during the 1 st week of planning + 40 hrs + 0 hrs $2,000 $9,000

31. OPEN UP: CH. 03 ETEXT HOMEWORK VIEW > ENTIRE PROJECT WORKSHOP 31

32. In groups, identify 4 RISKS to the “ INTERNATIONAL CHARITY: Fundraiser” 1. Do a: “QUALITATIVE RISK ANALYSIS” PowerPoint Presentation MULTIPLY: (This will become slide number: 3 in your PowerPoint Presentation) PowerPoint Presentation 2. A “Risk Response Plan” (This will become slide number: 4 in your PowerPoint Presentation) “PROBABLILITY” * “IMPACT” = “SEVERITY” “Risk Identification” WORKSHOP

33. PROJECT EXECUTION

34. InitiatingPlanning Executing ControllingClosing “Time to get to business and ‘just get it done’ “ Executing Projects

35. The process of coordinating the people and other resources to carry out the PLAN. Project executing efforts are now: ◦ Participating ◦ Observing ◦ Analyzing the work done Executing

36. The process includes ◦ Team development  Establish communication rules  Ensure your team knows documentation needs and conventions like naming, (MS Sharepoint)  (because everyone is storing everything in same location-make sure that everyone can access it), Executing Processes

37. Executing Processes cont.  Storage, (i.e. “MS Sharepoint”)  Retrieval (read-only, or edited by certain individuals) and control (SECURITY) ◦ Performance Monitoring-watching to make sure everyone is doing the job they’re saying they’re doing ◦ Status reports  After each milestone, make sure you get “sign offs” ◦ Procurement (if applicable)  RFI: Request for Information,  RFQ: Request for Quotes,  RFP: Request for Proposal

38. DELIVERABLES the “quantifiable” goods or services that will be provided upon the completion of a project may be an object, used in the greater scheme of the project. ◦ For example, in a project meant to upgrade a firm's technology, a deliverable may be a dozen new computers. may be a function or aspect of the “overall project”. ◦ For example, a software project may have a deliverable specifying that the computer program must be able to compute a company's accounts receivable.

39. MILESTONE vs. DELIVERABLES A deliverable differs from a milestone in that a milestone is a measurement of PROGRESS toward an outputmilestone whereas the deliverable is the RESULT of the PROCESS. For a typical project, a milestone might be the: “completion of a product DESIGN” While the deliverable might be the: “technical diagram of the product.”

40. EFFECTIVE COMMUNICATIONS

41. Meetings Prepare agendas ◦ Send out agendas to allow for preparation time ◦ Be careful with agendas that have GRAPHICS, for people with hand-held devices—can’t read it ◦ AGENDA EXAMPLE 1 AGENDA EXAMPLE 1 ◦ AGENDA EXAMPLE 2 AGENDA EXAMPLE 2 ◦ AGENDA EXAMPLE 3 AGENDA EXAMPLE 3 Minutes/action items Establish communication rules (at the beginning of the project)

42. Emails Create standardized email distribution lists ◦ Cc’s to team members (especially on client emails) Use “ Out of Office ” option ◦ Make sure you let people know you’re out of the office, and not ignoring them (that you will get back to them)!!

43. Instant Messaging Good for client calls Good for “Out of office” team members

44. WORK ON YOUR GROUP PROJECTS: “INTERNATIONAL CHARITY: Fundraiser” 8 minute PowerPoint presentation 1.1 S.M.A.R.T. goal for the overall project 2.Stakeholders 3.Risk Identification Plan  Include a “Qualitative Risk Analysis” table (in column 1 of this table you would list ALL your risks)  “Risk Response Plan” table cont. next page…..

45. 8 minute PowerPoint presentation cont. 4.PRECEDENCE TABLE 5.AON: Activity On Node (include time on each of the activity/nodes—in days/weeks/months.) i.e.: 6.CRITICAL PATH

46. Quiz Time

47. Group Exercise WORK ON PRESENTATIONS DUE IN 2 WEEK Requirements: BLACKBOARD > WEEKLY LESSONS > WEEK 05 > “ INTERNATIONAL CHARITY: Fundraiser”

48. Hybrid / Homework Read Chapter 4 Complete all activities required while reading chapter 4 Complete the Matching exercise for chapter 4 Complete the T/F for chapter 4