Project Life Cycle INTRODUCTION 5% 20% 60% 15% Concept Planning Execution/Control Closing Percentages and graph refer to the amount of effort (people) In IT projects = 90-95% of cost! Definition | Analysis |Design|Build|Test|Accept| Implement| Operation
PROJECT/ PM ECONOMIC & FINANCIAL NATURAL ENVIRONMENTS CORPORATE PROGRAMS CORPORATE POLICY AND CULTURE TECHNOLOGY SENIOR MANAGEMENT POLITICAL REGULATORY AND LEGAL HUMAN FACTORS HEALTH & SAFETY History of past Similar Projects
Determine a combined impact level based on which constraint is most affected. Impact Rank Description High Medium Low Could add more than 25% to the project budget Could add between 10 and 25% to the project budget Could add less than 10% to the project budget High Medium Low Schedule Cost Quality Could add over 25% delay to the completion of the project Could add over 10% delay to the completion of the project Could add less than 10% delay to the completion of the project, or delays a non critical deliverable
Step 2: Risk Analysis Draw a Risk Table to Summarize Wonderful Management Tool/Report Prob. Impact High Medium Low High Medium Low 3. Lack of skilled staff, organization slow to hire adequate staff; may delay implementation. 2. Time estimate and funds inadequate for the scope of this project; may be late and over budget. 1. Lack of commitment. Headquarters may have to assume more responsibility; will result in project delay, cost overruns. 6. Cannot get office space for staff; may cause communication problems, delaying the execution phase. 5. Expecting major scope changes from clients; may cause delay and cost escalation. 4. Not enough time spent planning, lack of understanding of problem; may take longer/ cost more than anticipated.