1. tm&i 2010 VII.1 technology management & innovation introduction to project management (iii) reviewing & operating projects

2. tm&i 2010 VII.2 project reviews how to critically review and track projects

3. tm&i 2010 VII.3 pre-start review is the objective clear? do the deliverables satisfy the objective? will the activities in the task list produce the deliverables? always ask: does the client really understand what they’re getting! are the resources and finances adequate for the project to succeed? periodic progress reviews is the project running on time? is the project running on budget? today we’ll look at ways of tracking both progress & budget problems arising, and how to fix them. Project Appraisal

4. tm&i 2010 VII.4 project costing & finances

5. tm&i 2010 VII.5 TASK LISTDELIVERABLESOBJECTIVE project costing BUDGET RESOURCE BUDGET & RESOURCE ALLOCATION TIMING Project Planning

6. tm&i 2010 VII.6 TIME MONEY RESOURCES Project Culture project

7. tm&i 2010 VII.7 which project resources require money? team members ($/month) equipment (purchase + consumables + maintainance) materials & expenses (travel, reagents, consumables) sub-contractors what other (hidden) costs might be charged to a project? factory/office overheads (water, gas, electricity, rent) Project Finance

8. tm&i 2010 VII.8

9. tm&i 2010 VII.9 example project cash flow table Project Planning

10. tm&i 2010 VII.10 the cash flow table should include all anticipated project costs team capital equipment materials and expenses contractors fees allowable overheads etc

11. tm&i 2010 VII.11 projected monthly c/f balance Project Planning months

12. tm&i 2010 VII.12 the closing/final balance at month’s end can be used to plot a graph of projected cash flow for the whole project life so what?

13. tm&i 2010 VII.13 projected compare actual cash flow with projected actual

14. tm&i 2010 VII.14 tracking actual cash flow with projected cash flow provides early warning of possible troubles with the project

15. tm&i 2010 VII.15 tracking time progress against the project plan are we on schedule? how do we find out?

16. tm&i 2010 VII.16

17. tm&i 2010 VII.17 Project Management tracking Gantt estimate the % completion of each task by marks on the Gantt bars (if using a paper copy) or use tracking Gantt in MS-Project draw a line through these points (shown in red) compare actual progress (red line) with your expected progress (green line = current date) indicates if project is behind, on, or ahead of schedule

18. tm&i 2010 VII.18 summary project resources “burn” money! estimate project cash flow using tables plot the projected closing / final balance vs time compare with actual spend to see if the project is under, on, or over- budget estimate & mark % task completion on the tracking Gantt chart is the project behind, on, or ahead of schedule? take appropriate ACTION!

19. tm&i 2010 VII.19 TIME MONEY RESOURCES

20. tm&i 2010 VI.20 homework task reading assignment Week 8