PM ppt

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PM ppt

  1. 1. Project Management ISM3011
  2. 2. What We’re Going to do Today <ul><li>Announcements </li></ul><ul><li>News & miscellany </li></ul><ul><li>Alphabet soup </li></ul><ul><li>MIS in the professions </li></ul><ul><li>Q & A from text </li></ul><ul><li>Project management </li></ul><ul><li>Making the business case </li></ul>
  3. 3. Alphabet Soup <ul><li>ISP </li></ul><ul><ul><li>Internet Service Provider </li></ul></ul><ul><ul><li>Company that gives an individual or organization access to the Internet </li></ul></ul><ul><li>PMI </li></ul><ul><ul><li>Project Management Institute </li></ul></ul><ul><ul><li>Project Management Institute (PMI) has more than 200,000 members in over 150 countries. </li></ul></ul><ul><ul><li>According to the PMI Website, PMI “… is the world’s foremost advocate for the project management profession.” </li></ul></ul>
  4. 4. Alphabet Soup (part 2) & Podcast <ul><li>EVM </li></ul><ul><ul><li>Earned Value Management </li></ul></ul><ul><ul><li>Provides an objective measurement of how much work has been accomplished on a project. </li></ul></ul><ul><ul><li>Essential features of any EVM implementation include </li></ul></ul><ul><ul><ul><li>a project plan that identifies work to be accomplished, </li></ul></ul></ul><ul><ul><ul><li>a valuation of planned work, called planned value (PV), </li></ul></ul></ul><ul><ul><ul><li>pre-defined “earning rules” that quantify the accomplishment of work. </li></ul></ul></ul>Earned Value (EV)
  5. 5. Earned Value Example Source: http://en.wikipedia.org/wiki/Earned_value_management
  6. 6. MIS in the Professions – Marketing Project Management <ul><li>Robohead is a Web-based project management system specifically designed for marketing and creative organizations. </li></ul><ul><li>Here’s an online demo . (9 minutes) </li></ul>http://www.robohead.net/info/index.html
  7. 7. Project Management
  8. 8. Your Education as a Project <ul><li>How do you plan the “project” of getting your degree? </li></ul>
  9. 9. What is Project Management? <ul><li>Project </li></ul><ul><ul><li>“Temporary endeavor undertaken to produce a unique product or service” (Source: PM-BOK) </li></ul></ul><ul><li>Project management </li></ul><ul><ul><li>“… application of knowledge, skills, tools, and techniques to project activities in order to meet or exceed stakeholder needs and expectations …” (Source: PM-BOK) </li></ul></ul>Definite beginning and end
  10. 10. Project Triangle Tradeoffs among these three constraints
  11. 11. Project Activities Source: PMBOK This is one view of PM activities, there are others.
  12. 12. Project Management Activities <ul><li>Initiating </li></ul><ul><ul><li>Selecting a project </li></ul></ul><ul><ul><ul><li>Business case development/analysis </li></ul></ul></ul><ul><ul><li>Committing to a project </li></ul></ul><ul><li>Planning </li></ul><ul><ul><li>(See next slide) </li></ul></ul><ul><li>Executing </li></ul><ul><li>Controlling </li></ul><ul><li>Closing </li></ul>Important, but outside our scope
  13. 13. Project Planning Our focus
  14. 14. Project Management <ul><li>Elements of project management </li></ul><ul><ul><li>Project manager </li></ul></ul><ul><ul><ul><li>has the responsibility to integrate the efforts of people from various functional areas to achieve specific project goals </li></ul></ul></ul><ul><ul><li>Project team </li></ul></ul><ul><ul><ul><li>a group of people that often represents different functional areas or organizations </li></ul></ul></ul><ul><ul><li>Project management system </li></ul></ul><ul><ul><ul><li>consists of an organizational structure (functional or matrix) and an information system (network planning system) </li></ul></ul></ul>
  15. 15. Network Planning Methods <ul><li>PERT/CPM </li></ul><ul><ul><li>Describing the project </li></ul></ul><ul><ul><ul><li>shows all activities required to complete the project </li></ul></ul></ul><ul><ul><ul><li>describes (through a network diagram) the order of activities, demonstrating predecessors </li></ul></ul></ul>
  16. 16. Network Planning Methods <ul><li>PERT/CPM </li></ul><ul><ul><li>Benefits </li></ul></ul><ul><ul><ul><li>forces managers to organize data and express critical relationships </li></ul></ul></ul><ul><ul><ul><li>managers can estimate the completion time of a project </li></ul></ul></ul><ul><ul><ul><li>reports highlight the activities that are crucial to the completion of the project on time </li></ul></ul></ul><ul><ul><ul><li>managers can analyze the time/cost implications of resource trade-offs </li></ul></ul></ul>
  17. 17. Network Planning Methods <ul><li>Estimating time of completion in a network plan </li></ul><ul><ul><li>probabilistic (uncertain) </li></ul></ul><ul><ul><li>deterministic (certain) </li></ul></ul><ul><ul><li>critical path </li></ul></ul><ul><ul><ul><li>sequence of activities between a project’s start and finish that takes the longest </li></ul></ul></ul>
  18. 18. Network Planning Methods <ul><li>Estimating time of completion in a network plan </li></ul><ul><ul><li>Earliest start and finish times </li></ul></ul><ul><ul><ul><li>Earliest Finish time (EF) </li></ul></ul></ul><ul><ul><ul><li>Earliest Start time (ES) </li></ul></ul></ul><ul><ul><ul><li>EF = ES+t </li></ul></ul></ul><ul><ul><ul><li>where t = the time required to complete the activity </li></ul></ul></ul><ul><ul><ul><li>ES = EF from the preceding activity </li></ul></ul></ul>
  19. 19. Network Planning Methods <ul><li>Estimating time of completion in a network plan </li></ul><ul><ul><li>Latest start and finish times </li></ul></ul><ul><ul><ul><li>Latest Start time (LS) </li></ul></ul></ul><ul><ul><ul><li>Latest Finish time (LF) </li></ul></ul></ul><ul><ul><ul><li>LS = LF - t </li></ul></ul></ul><ul><ul><ul><li>where t = the time required to complete the activity </li></ul></ul></ul><ul><ul><ul><li>LF = LS from the immediately following activity </li></ul></ul></ul>
  20. 20. Network Planning Methods <ul><li>Estimating time of completion in a network plan </li></ul><ul><ul><li>Activity Slack </li></ul></ul><ul><ul><ul><li>maximum time an activity can be delayed without delaying the entire project </li></ul></ul></ul><ul><ul><ul><li>there is zero slack in the sequence of activities in the critical path </li></ul></ul></ul>
  21. 21. Uncertain Time Estimates <ul><li>Probabilistic Time Estimates </li></ul><ul><ul><li>Optimistic time </li></ul></ul><ul><ul><ul><li>shortest time an activity can be completed </li></ul></ul></ul><ul><ul><li>Most likely time </li></ul></ul><ul><ul><ul><li>best estimate of average time for an activity </li></ul></ul></ul><ul><ul><li>Pessimistic time </li></ul></ul><ul><ul><ul><li>longest time an activity can take </li></ul></ul></ul>
  22. 22. Uncertain Time Estimates <ul><li>Probabilistic Time Estimates </li></ul><ul><ul><li>Activity’s mean time (t e ) and variance (  2 ) with beta distribution </li></ul></ul><ul><ul><li> t e = a + 4m + b </li></ul></ul><ul><ul><li> 6 </li></ul></ul><ul><ul><li> 2 </li></ul></ul><ul><ul><li>  2 = (b-a/6) </li></ul></ul><ul><ul><li>Analyzing probabilities </li></ul></ul><ul><ul><ul><li>Z values = due date of project - earliest expected date square root of the variances </li></ul></ul></ul><ul><ul><ul><ul><li>determines probability that a project will be done by a specified date </li></ul></ul></ul></ul>
  23. 23. Work Breakdown Structure <ul><li>Divides a project into tasks/activities. </li></ul><ul><li>ID major tasks </li></ul><ul><li>Break down into subtasks </li></ul><ul><ul><li>Well defined </li></ul></ul><ul><ul><li>Can be estimated and tracked </li></ul></ul><ul><li>Identify task dependencies </li></ul><ul><ul><li>E.g. Task B requires completion of Task A </li></ul></ul><ul><li>Assign responsibility for each (sub)task </li></ul><ul><li>Results are measured in terms of progress/completion of tasks. </li></ul>
  24. 24. WBS: Process <ul><ul><li>Familiarize yourself with the project. </li></ul></ul><ul><ul><li>ID all major tasks required to achieve goals. </li></ul></ul><ul><ul><li>Break into subtasks (repeat until you have manageable granularity) </li></ul></ul><ul><ul><li>ID responsibility for each lower level task. </li></ul></ul><ul><ul><li>Determine resource (time & personnel) requirements for each lowest level task. </li></ul></ul><ul><ul><li>This can serve as the basis for an estimate. </li></ul></ul>
  25. 25. Work Breakdown Structure Spreadsheet
  26. 26. WBS Diagram Example Source: http://en.wikipedia.org/wiki/Work_breakdown_structure Task Sub-Tasks
  27. 27. Making the Business Case
  28. 28. What is a business case? <ul><li>Provides management with the information required for making an informed decision regarding a project. </li></ul><ul><li>Analysis of: </li></ul><ul><ul><li>Organizational value </li></ul></ul><ul><ul><li>Feasibility </li></ul></ul><ul><ul><li>Costs </li></ul></ul><ul><ul><li>Benefits </li></ul></ul><ul><ul><li>Risks </li></ul></ul><ul><li>Several alternatives </li></ul>Source for much of this presentation is Marchewka (2006). Information Technology Project Management , Wiley.
  29. 29. Business Case Development Process <ul><li>Define measurable organizational value </li></ul><ul><li>Identify alternatives </li></ul><ul><li>Assess feasibility </li></ul><ul><li>Assess risk </li></ul><ul><li>Define total cost of ownership </li></ul><ul><li>Define total benefits of ownership </li></ul><ul><li>Compare alternatives </li></ul><ul><li>Make recommendation </li></ul>Our focus
  30. 30. What are the benefits? <ul><li>Focus on measurable benefits. </li></ul><ul><li>Must provide value to the organization. </li></ul><ul><ul><li>What areas of the organization are impacted? </li></ul></ul><ul><ul><li>Sources of value: Better, faster, cheaper, do more. </li></ul></ul><ul><ul><li>Measure in terms of $, %, numeric value. </li></ul></ul><ul><li>Must be verifiable. </li></ul><ul><ul><li>Time frame achieving the value. </li></ul></ul>
  31. 31. What are the alternatives? <ul><li>Include a range of alternatives </li></ul><ul><li>Base case alternative </li></ul><ul><ul><li>What happens if we don’t do anything? </li></ul></ul><ul><ul><li>“ Do nothing” is a valid alternative in most cases. </li></ul></ul>
  32. 32. Is the project feasible? <ul><li>Economic feasibility </li></ul><ul><li>Technical feasibility </li></ul><ul><li>Organizational feasibility </li></ul><ul><li>Legal feasibility </li></ul><ul><li>Ethical feasibility </li></ul>
  33. 33. Cost/benefit analysis: Costs <ul><li>TCO: Total cost of ownership </li></ul><ul><ul><li>Direct costs </li></ul></ul><ul><ul><ul><li>Hardware, software, consultants </li></ul></ul></ul><ul><ul><li>Indirect costs </li></ul></ul><ul><ul><ul><li>Productivity loss during project/changeover </li></ul></ul></ul><ul><ul><ul><li>Quality assurance </li></ul></ul></ul><ul><ul><li>Ongoing costs </li></ul></ul><ul><ul><ul><li>Training, maintenance, upgrades, etc. </li></ul></ul></ul>
  34. 34. Cost/benefit analysis: Benefits <ul><li>TBO: Total benefits of ownership </li></ul><ul><li>Tangible benefits </li></ul><ul><ul><li>Costs savings </li></ul></ul><ul><ul><li>Increased accuracy (reduced errors) </li></ul></ul><ul><ul><li>Improved workflow </li></ul></ul><ul><ul><li>Improved decision making </li></ul></ul><ul><li>Intangible benefits </li></ul><ul><ul><li>Increased customer satisfaction </li></ul></ul><ul><ul><li>Increased employee satisfaction </li></ul></ul><ul><ul><li>Reputation </li></ul></ul>
  35. 35. Risk analysis <ul><li>Identify risks </li></ul><ul><ul><li>What can go wrong? </li></ul></ul><ul><li>Impact </li></ul><ul><ul><li>What is the organizational impact of each risk? </li></ul></ul><ul><li>Probability </li></ul><ul><ul><li>How likely is each risk? </li></ul></ul><ul><li>Response </li></ul><ul><ul><li>What can be done to avoid or minimize the risk? </li></ul></ul>
  36. 36. Comparing Alternatives <ul><li>Financial analysis </li></ul><ul><ul><li>Payback period </li></ul></ul><ul><ul><li>ROI </li></ul></ul><ul><ul><li>NPV </li></ul></ul><ul><li>Weight factors </li></ul><ul><li>Rate alternatives </li></ul><ul><li>Score = Sum (weights * scores) </li></ul><ul><li>Other approaches exist </li></ul>

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