week 5
DESCRIPTION
Introduction to Project Management. Week 5. Agenda. Hybrid Wk4 Review Phase 2: Planning Compressing the Schedule Risk Analysis Phase 3: Executing. Hybrid – Chapter 2. Any ?’s from last week? Check completion. Review. RACI Review. What is RACI? What is the RACI matrix used for? - PowerPoint PPT PresentationTRANSCRIPT
WEEK 5Introduction to Project Management
AgendaHybrid Wk4 Review
Phase 2: Planning◦Compressing the Schedule◦Risk Analysis
Phase 3: Executing
Hybrid – Chapter 2Any ?’s from last week?
Check completion
REVIEW
RACI ReviewWhat is RACI?
What is the RACI matrix used for?
How would you describe it?
Communication Plan ReviewWhat is the communication plan?
How would you describe it?
Note: We will discuss our tips for organizing and leading an effective meeting later
AON Review What is AON?
What is it used for?
How would you describe it?
What are the general rules for creating one?
Still have questions – look at the tutorial found at http://www.youtube.com/watch?v=nLiAvW7Xvq4
Critical Path ReviewHow would you describe it?
What’s the purpose of knowing the critical path?
Can there be more than one critical path?
COMPRESSING THE SCHEDULE
Methods of Compressing
Crashing ◦Look at alternatives that provide the
maximum compression for the least cost
Fast Tracking◦Compressing the project schedule by
overlapping activities that would normally be done in sequence
INCREASES RISK
Increasing ResourcesDecreasing 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
Increasing Resources - ConsConsider 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 != being qualified
◦May increase costs
Task SplittingAim 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◦Cannot use same resources◦May cause new critical path
RISK MANAGEMENT
Risk ManagementIdentifies threats that can affect the
project Planning to proactively deal with
the threats
Risks should be considered for:◦Health & Safety◦Environmental◦Legal◦Financial
Risk Identification Techniques1. Interview with SME’s2. Brainstorming3. Delphi Technique4. Nominal Group Technique5. Crawford Slip6. Analogy7. Checklist, forms, and templates8. SWOT9. Cause & Effect Diagram
Risk Identification Workshop
In groups, research the technique assigned◦ What is it?
◦ Why use this method? (pros &/or cons)
◦ How it is accomplished?
◦ Prepare a mini pptx presentation
◦ Ensure each member of the team has their full name listed in the presentation.
12 minutes to complete & email to me.
Project Risk ReviewType of Review Questions
Stakeholders What could upset them?What are there priorities?
Communication Plan Where could poor communication cause trouble?
Schedule What milestones might be troublesome?
Resource Demand At what point are people overloaded?
Risk IdentificationIdentify the risk event(s)Keep them realisticExample:
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
Qualitative Risk Analysis
Risk Description Probability(10% - 90%)
Impact(H 3, M 2, L 1)
Severity= P * I
A
Resources may be constrained due to team members working on other projects
70% 2 1.4
B
Significant schedule delays may occur due to team being unfamiliar with the new application or process
80% 3 2.4
• Use Severity to identify the risks worth planning
Risk Response Planning
Risk Response Plan Schedule Adjustment
Cost Adjustment
A
Schedule bi-weekly meetings with sr management to provide status updates and resolve any resource conflict
+ 20 hrs $200/hr/resource
B
Send sr team member on training (before implementation)
Contract with vendor for consulting services during the 1st week of planning
+ 40 hrs
+ 0 hrs
$2,000
$9,000
PROJECT EXECUTION
Executing Projects
“Time to get to business and ‘just get it done’ “
Initiating
Planning
Executing
Controlling Closing
Executing The process of coordinating the people and other resources to carry out the plan.
Executing Phase EffortsAre now:
◦Participating
◦Observing
◦Analyzing the work done
Executing Processes Includes:Team development
Ensure your team knows documentation needs and conventions like naming, storage, retrieval and control
Hybrid / HomeworkChapter 3
Team Project Let’s Plan a WeddingIn groups of up to 3 peopleUse guide/template
Quiz Time