This document discusses project human resource management. It covers how project teams are structured and staffed through processes like developing a human resources plan, acquiring the project team, developing the project team, and managing the project team. Key topics include defining roles and responsibilities, using tools like organizational charts and responsibility assignment matrices, and ensuring project staff have the necessary skills, training, and motivation to be successful. The document also discusses how to measure team performance and address any issues that arise through corrective actions.
This document discusses project human resource management. It covers planning human resources which includes creating organization charts, staffing plans, and resource histograms. It also discusses acquiring the project team, potential issues, and assigning and leveling resources. Developing the team is covered, including training, team building, and rewards. Finally, managing the project team is addressed along with tools for tracking performance and resolving issues. Software can assist with creating responsibility assignment matrices and tracking resource allocation over time.
Project management and Success Criteria ujjwal Mania
This document discusses key concepts in project management. It defines a project as a temporary effort to create a unique product or service. It notes that projects have definite start and end times. It then discusses various aspects of defining, planning, executing, monitoring and closing projects. Some key points made include that projects require resources, have a sponsor, involve uncertainty and use progressive elaboration. It also discusses why projects fail, including due to a lack of visibility, unclear objectives and communication gaps. Recovering failing projects involves identifying issues, discussing solutions, implementing changes and monitoring progress.
The document discusses project organization and staffing. It describes different types of organizational structures like functional, project-based, and matrix organizations. It outlines key roles in project organizations like project managers, team members, and functional managers. It also discusses groups, teams, and committees. Project managers have responsibilities like defining scope, identifying stakeholders, developing work breakdown structures, and reporting status. Team members are responsible for completing assigned tasks. The document also covers topics like contracting, tendering, and contractor selection for projects.
This document discusses key aspects of project management including:
1. The meaning, forms of organization, human aspects, life cycle, planning, control, and prerequisites for successful implementation of projects.
2. The three main factors in project management are time, cost, and scope, with quality and customer expectations also being important.
3. Project life cycles typically include initiation, planning, execution and control, and closure phases. Effective project implementation requires adequate formulation, sound organization, proper planning, timely funding, judicious procurement, contract management, and monitoring.
This document provides an overview of project management. It discusses the advantages of formal project management, defines what a project is, and outlines key project attributes such as having a unique purpose and being temporary. It also discusses project constraints like time, scope and cost. The document then covers topics like project stakeholders, knowledge areas, tools and techniques, success factors, and the importance of organizational support and culture for projects.
Resource management involves organizing, managing, and leading the project team. It includes identifying roles and responsibilities, acquiring necessary resources, and developing the team. Key aspects of resource management include creating organizational charts to define reporting relationships, estimating resource needs, acquiring resources through various techniques, and developing the team through activities like establishing ground rules and co-locating team members.
The document discusses various topics related to human resource management on projects. It covers roles and responsibilities, including responsibility assignment matrices. It also discusses acquiring the project team through preassignment, negotiation, and virtual teams. Developing the project team involves activities like team building, ground rules, and the Tuckman ladder. Managing the project team includes communication, issue logs, performance appraisals, leadership styles, and conflict management. It provides an overview of key human resource management concepts for projects.
This document discusses project human resource management. It covers planning human resources which includes creating organization charts, staffing plans, and resource histograms. It also discusses acquiring the project team, potential issues, and assigning and leveling resources. Developing the team is covered, including training, team building, and rewards. Finally, managing the project team is addressed along with tools for tracking performance and resolving issues. Software can assist with creating responsibility assignment matrices and tracking resource allocation over time.
Project management and Success Criteria ujjwal Mania
This document discusses key concepts in project management. It defines a project as a temporary effort to create a unique product or service. It notes that projects have definite start and end times. It then discusses various aspects of defining, planning, executing, monitoring and closing projects. Some key points made include that projects require resources, have a sponsor, involve uncertainty and use progressive elaboration. It also discusses why projects fail, including due to a lack of visibility, unclear objectives and communication gaps. Recovering failing projects involves identifying issues, discussing solutions, implementing changes and monitoring progress.
The document discusses project organization and staffing. It describes different types of organizational structures like functional, project-based, and matrix organizations. It outlines key roles in project organizations like project managers, team members, and functional managers. It also discusses groups, teams, and committees. Project managers have responsibilities like defining scope, identifying stakeholders, developing work breakdown structures, and reporting status. Team members are responsible for completing assigned tasks. The document also covers topics like contracting, tendering, and contractor selection for projects.
This document discusses key aspects of project management including:
1. The meaning, forms of organization, human aspects, life cycle, planning, control, and prerequisites for successful implementation of projects.
2. The three main factors in project management are time, cost, and scope, with quality and customer expectations also being important.
3. Project life cycles typically include initiation, planning, execution and control, and closure phases. Effective project implementation requires adequate formulation, sound organization, proper planning, timely funding, judicious procurement, contract management, and monitoring.
This document provides an overview of project management. It discusses the advantages of formal project management, defines what a project is, and outlines key project attributes such as having a unique purpose and being temporary. It also discusses project constraints like time, scope and cost. The document then covers topics like project stakeholders, knowledge areas, tools and techniques, success factors, and the importance of organizational support and culture for projects.
Resource management involves organizing, managing, and leading the project team. It includes identifying roles and responsibilities, acquiring necessary resources, and developing the team. Key aspects of resource management include creating organizational charts to define reporting relationships, estimating resource needs, acquiring resources through various techniques, and developing the team through activities like establishing ground rules and co-locating team members.
The document discusses various topics related to human resource management on projects. It covers roles and responsibilities, including responsibility assignment matrices. It also discusses acquiring the project team through preassignment, negotiation, and virtual teams. Developing the project team involves activities like team building, ground rules, and the Tuckman ladder. Managing the project team includes communication, issue logs, performance appraisals, leadership styles, and conflict management. It provides an overview of key human resource management concepts for projects.
The document discusses the Develop Project Team knowledge area in project human resource management. It has three objectives: improve team members' knowledge and skills, feelings of trust and agreement, and create a cohesive team culture. Inputs are project staff assignment and plan. Techniques include interpersonal skills, training, team-building activities, ground rules, co-location, and recognition/rewards. Outputs are team performance assessments and environmental factor updates.
Project – a [temporary] sequence of unique, complex, and connected activities having one goal or purpose and that must be completed by specific time, within budget, and according to specification.
Project management – the process of scoping, planning, staffing, organizing, directing, and controlling the development of an acceptable system at a minimum cost within a specified time frame.
Process management – the activity of documenting, managing, and continually improving the process of systems development.
Any project involves planning, scheduling and controlling a number of interrelated activities with use of limited resources, namely, men, machines, materials, money and time.
A project is a temporary endeavor undertaken to create a unique product or service.
It is
performed by people
constrained by limited resources
planned, executed and controlled
It is required that managers must have a dynamic planning and scheduling system to produce the best possible results and also to react immediately to the changing conditions and make necessary changes in the plan and schedule.
Projects differ in size, scope, cost and time, but all have the following characteristics:
solves a real and existing problem, has well-defined start and end points.
A life cycle involving a series of phases in between the beginning and end
A budget, Specific goals and conditions, Defined responsibilities
A set of activities which are sequential, unique and non-repetitive
Use of resources which may require coordinating
Unique: All projects are unique in themselves, no two projects are exactly similar.
Defined roles and relationships for participants in the project
Fixed set of objectives: A project has a set of objectives or a mission. Once the objectives are achieved the project is treated as completed.
Tenure: Project is never a continuous activity, it has to come to an end. Its life span is fixed.
Team work: : Project is a team work and it normally consists of diverse areas. It needs a team to accomplish various activities.
This document provides an outline for a training course to prepare for the PMP certification exam. The course covers 5 modules: creating a high-performing team, starting the project, doing the work, keeping the team on track, and keeping the business in mind. Module 1 focuses on building the team through defining ground rules, empowering members, and establishing virtual teams.
This document provides an overview of project management concepts and techniques. It defines a project, project management, and the role of a project manager. It describes common causes of failed IT projects and competencies required of project managers. The document outlines the basic functions and tools of project management, including PERT charts, Gantt charts, and project management software. It details the eight key activities in project management: defining scope, identifying tasks, estimating durations, specifying dependencies, assigning resources, directing teams, monitoring progress, and assessing results. Critical path analysis and expectations management are also discussed.
This document discusses human resource management in project management. It covers the key processes of plan human resource management, acquire project team, develop project team, and manage project team.
The plan human resource management process involves identifying project roles, responsibilities, and reporting relationships. It includes creating organizational charts, staffing management plans, responsibility assignment matrices, and resource histograms.
Acquiring the project team requires negotiating with functional managers to obtain the necessary team members and skills. Developing the project team focuses on improving competencies, interactions, and performance through training, team building models like Tuckman's, and motivation theories.
Managing the project team involves tracking performance, providing feedback, resolving issues, and managing changes to optimize
1. The document discusses various topics related to software project management including project organization structures, team structures, challenges project managers may face, and methods for selecting projects.
2. It provides an overview of different project organization structures like functional, projectized, and matrix structures and how they influence projects.
3. Project team structures like isomorphic, specialty, and egoless structures are described along with their benefits and drawbacks.
4. Challenges around transitioning team members and effective communication are highlighted.
This document discusses resource management for software development projects. It defines different types of resources like human, computer, time and money resources. It also categorizes resources based on availability, place, elasticity and whether they are shared or dedicated. The document outlines skill sets needed for human resources and key resource management activities like planning, utilization and deallocation. It describes resource leveling techniques to efficiently allocate limited resources across multiple projects.
The document discusses the process of developing a new system to address a problem. It describes gathering information to understand the problem, developing a requirements report, creating a project plan with tasks and timelines, considering possible solutions while taking into account constraints, conducting a feasibility study, and selecting the appropriate solution. Key steps involve understanding the current system and user needs, identifying the problem clearly, analyzing collected data, and making decisions that meet organizational goals and address the problem effectively.
Project human resource management includes organizing, managing, and leading the project team. Specific roles and responsibilities are assigned to team members, and involving the team in planning and decision making is beneficial. The key processes are:
1. Plan human resource management, which involves identifying roles, required skills, reporting relationships, and creating a staffing management plan.
2. Acquire the project team by confirming availability and obtaining the necessary team members.
3. Develop the project team by improving competencies, interactions, and the overall team environment to enhance performance. This includes training, team building, and addressing issues.
4. Manage the project team by tracking performance, providing feedback, resolving issues, and managing changes to
- Management involves planning, organizing, leading, and controlling resources to achieve goals. It can be both a science and an art.
- Construction management involves overseeing construction projects and tasks to deliver projects on time, within budget, and to a high quality. The project manager is responsible for coordinating all aspects of a construction project.
- Key functions of management include planning, organizing, implementing plans, and monitoring progress. Planning involves setting goals and determining how to achieve them. Organizing establishes the structure and responsibilities. Implementing executes the plans, while monitoring evaluates performance and makes corrections.
The document provides an introduction to project management. It defines a project as a temporary endeavor undertaken to produce a unique product or service. It discusses the key characteristics of projects including being temporary and unique. It also outlines some of the key concepts in project management including the project life cycle, work breakdown structure, critical path analysis, and importance of project planning, cost management, quality management, and communications management. The document emphasizes that project management is necessary to coordinate resources, prevent failures, and ensure projects are completed on time and on budget.
Ensuring You Have a Strong Foundation for Project SuccessTony Nicholson
As people are the most critical component of a capital project, IPA offers a variety of services to ensure project organizations and teams have a foundation for success.
The document discusses creating high performing teams. It emphasizes that projects are people-driven and creating high performing teams is critical for project success. Building an effective team requires assessing skills, determining resource requirements, continuously improving skills, and sharing knowledge. Key aspects of building a team include deducing resource needs, maintaining the team over time, and defining ground rules for team behavior and interactions.
The document summarizes key concepts in project management, focusing on people, product, process, and project. It discusses establishing effective teams by focusing on stakeholders, team leaders with strong people skills, and software teams structured appropriately based on the problem. It emphasizes defining the product scope and decomposing problems into functionality and processes. Choosing the right process model and planning tasks is described. Signs of projects in jeopardy and using the W5 principle to establish a project definition and plan are also summarized.
ENHANCING EFFICIENCY THROUGH MANAGEMENT OF WORKLOAD & RESOURCES.pptxHassaanAfzal3
This document discusses workload management and its importance for project success. It outlines a process for effective workload management that includes creating a work breakdown structure, checking team capacity, assigning tasks based on skills and availability, monitoring schedules and progress, and providing feedback. Tips are also provided for helping team members prioritize tasks, accommodating different work styles, advocating for teams, and using time tracking to validate plans and capacity. The overall goal of workload management is to distribute work fairly and efficiently while optimizing resources, schedules, and keeping projects on track.
This document discusses project human resource management. It covers developing a human resource plan, acquiring the project team, developing the project team, and managing the project team. Key points include identifying roles and responsibilities in the human resource plan, negotiating for and acquiring project resources, using training, team building activities, and addressing conflicts to develop the project team, and providing feedback and managing changes to the team. Motivation theories like Maslow's hierarchy of needs and McGregor's X and Y theory are also referenced. The overall summary is that this document outlines the main processes for organizing, managing, and leading the project team over the project life cycle.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
The document discusses the Develop Project Team knowledge area in project human resource management. It has three objectives: improve team members' knowledge and skills, feelings of trust and agreement, and create a cohesive team culture. Inputs are project staff assignment and plan. Techniques include interpersonal skills, training, team-building activities, ground rules, co-location, and recognition/rewards. Outputs are team performance assessments and environmental factor updates.
Project – a [temporary] sequence of unique, complex, and connected activities having one goal or purpose and that must be completed by specific time, within budget, and according to specification.
Project management – the process of scoping, planning, staffing, organizing, directing, and controlling the development of an acceptable system at a minimum cost within a specified time frame.
Process management – the activity of documenting, managing, and continually improving the process of systems development.
Any project involves planning, scheduling and controlling a number of interrelated activities with use of limited resources, namely, men, machines, materials, money and time.
A project is a temporary endeavor undertaken to create a unique product or service.
It is
performed by people
constrained by limited resources
planned, executed and controlled
It is required that managers must have a dynamic planning and scheduling system to produce the best possible results and also to react immediately to the changing conditions and make necessary changes in the plan and schedule.
Projects differ in size, scope, cost and time, but all have the following characteristics:
solves a real and existing problem, has well-defined start and end points.
A life cycle involving a series of phases in between the beginning and end
A budget, Specific goals and conditions, Defined responsibilities
A set of activities which are sequential, unique and non-repetitive
Use of resources which may require coordinating
Unique: All projects are unique in themselves, no two projects are exactly similar.
Defined roles and relationships for participants in the project
Fixed set of objectives: A project has a set of objectives or a mission. Once the objectives are achieved the project is treated as completed.
Tenure: Project is never a continuous activity, it has to come to an end. Its life span is fixed.
Team work: : Project is a team work and it normally consists of diverse areas. It needs a team to accomplish various activities.
This document provides an outline for a training course to prepare for the PMP certification exam. The course covers 5 modules: creating a high-performing team, starting the project, doing the work, keeping the team on track, and keeping the business in mind. Module 1 focuses on building the team through defining ground rules, empowering members, and establishing virtual teams.
This document provides an overview of project management concepts and techniques. It defines a project, project management, and the role of a project manager. It describes common causes of failed IT projects and competencies required of project managers. The document outlines the basic functions and tools of project management, including PERT charts, Gantt charts, and project management software. It details the eight key activities in project management: defining scope, identifying tasks, estimating durations, specifying dependencies, assigning resources, directing teams, monitoring progress, and assessing results. Critical path analysis and expectations management are also discussed.
This document discusses human resource management in project management. It covers the key processes of plan human resource management, acquire project team, develop project team, and manage project team.
The plan human resource management process involves identifying project roles, responsibilities, and reporting relationships. It includes creating organizational charts, staffing management plans, responsibility assignment matrices, and resource histograms.
Acquiring the project team requires negotiating with functional managers to obtain the necessary team members and skills. Developing the project team focuses on improving competencies, interactions, and performance through training, team building models like Tuckman's, and motivation theories.
Managing the project team involves tracking performance, providing feedback, resolving issues, and managing changes to optimize
1. The document discusses various topics related to software project management including project organization structures, team structures, challenges project managers may face, and methods for selecting projects.
2. It provides an overview of different project organization structures like functional, projectized, and matrix structures and how they influence projects.
3. Project team structures like isomorphic, specialty, and egoless structures are described along with their benefits and drawbacks.
4. Challenges around transitioning team members and effective communication are highlighted.
This document discusses resource management for software development projects. It defines different types of resources like human, computer, time and money resources. It also categorizes resources based on availability, place, elasticity and whether they are shared or dedicated. The document outlines skill sets needed for human resources and key resource management activities like planning, utilization and deallocation. It describes resource leveling techniques to efficiently allocate limited resources across multiple projects.
The document discusses the process of developing a new system to address a problem. It describes gathering information to understand the problem, developing a requirements report, creating a project plan with tasks and timelines, considering possible solutions while taking into account constraints, conducting a feasibility study, and selecting the appropriate solution. Key steps involve understanding the current system and user needs, identifying the problem clearly, analyzing collected data, and making decisions that meet organizational goals and address the problem effectively.
Project human resource management includes organizing, managing, and leading the project team. Specific roles and responsibilities are assigned to team members, and involving the team in planning and decision making is beneficial. The key processes are:
1. Plan human resource management, which involves identifying roles, required skills, reporting relationships, and creating a staffing management plan.
2. Acquire the project team by confirming availability and obtaining the necessary team members.
3. Develop the project team by improving competencies, interactions, and the overall team environment to enhance performance. This includes training, team building, and addressing issues.
4. Manage the project team by tracking performance, providing feedback, resolving issues, and managing changes to
- Management involves planning, organizing, leading, and controlling resources to achieve goals. It can be both a science and an art.
- Construction management involves overseeing construction projects and tasks to deliver projects on time, within budget, and to a high quality. The project manager is responsible for coordinating all aspects of a construction project.
- Key functions of management include planning, organizing, implementing plans, and monitoring progress. Planning involves setting goals and determining how to achieve them. Organizing establishes the structure and responsibilities. Implementing executes the plans, while monitoring evaluates performance and makes corrections.
The document provides an introduction to project management. It defines a project as a temporary endeavor undertaken to produce a unique product or service. It discusses the key characteristics of projects including being temporary and unique. It also outlines some of the key concepts in project management including the project life cycle, work breakdown structure, critical path analysis, and importance of project planning, cost management, quality management, and communications management. The document emphasizes that project management is necessary to coordinate resources, prevent failures, and ensure projects are completed on time and on budget.
Ensuring You Have a Strong Foundation for Project SuccessTony Nicholson
As people are the most critical component of a capital project, IPA offers a variety of services to ensure project organizations and teams have a foundation for success.
The document discusses creating high performing teams. It emphasizes that projects are people-driven and creating high performing teams is critical for project success. Building an effective team requires assessing skills, determining resource requirements, continuously improving skills, and sharing knowledge. Key aspects of building a team include deducing resource needs, maintaining the team over time, and defining ground rules for team behavior and interactions.
The document summarizes key concepts in project management, focusing on people, product, process, and project. It discusses establishing effective teams by focusing on stakeholders, team leaders with strong people skills, and software teams structured appropriately based on the problem. It emphasizes defining the product scope and decomposing problems into functionality and processes. Choosing the right process model and planning tasks is described. Signs of projects in jeopardy and using the W5 principle to establish a project definition and plan are also summarized.
ENHANCING EFFICIENCY THROUGH MANAGEMENT OF WORKLOAD & RESOURCES.pptxHassaanAfzal3
This document discusses workload management and its importance for project success. It outlines a process for effective workload management that includes creating a work breakdown structure, checking team capacity, assigning tasks based on skills and availability, monitoring schedules and progress, and providing feedback. Tips are also provided for helping team members prioritize tasks, accommodating different work styles, advocating for teams, and using time tracking to validate plans and capacity. The overall goal of workload management is to distribute work fairly and efficiently while optimizing resources, schedules, and keeping projects on track.
This document discusses project human resource management. It covers developing a human resource plan, acquiring the project team, developing the project team, and managing the project team. Key points include identifying roles and responsibilities in the human resource plan, negotiating for and acquiring project resources, using training, team building activities, and addressing conflicts to develop the project team, and providing feedback and managing changes to the team. Motivation theories like Maslow's hierarchy of needs and McGregor's X and Y theory are also referenced. The overall summary is that this document outlines the main processes for organizing, managing, and leading the project team over the project life cycle.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
2. Part 5
Learning objectives:
after learning topics in this part, you should
be able to:
know how project teams are setup and
staffed
Appreciate suitable ways of Motivating
project team members
Recognize staff development programs of
project staff
Embrace group level conflicts and
implement conflict resolution mechanisms
Project Human
Resource
Management
5. One of the truly remarkable things about work
groups is that they can make 2 +2 =5. Of
course, they also havethe capability of
making
2 +2 = 3.
6. Project organization
• Clearly defined roles and responsibilities are essential
for the successful project
• Roles and responsibilities are assigned to one of six
groups
• Project Sponsor
• Senior Management
• Project Team
• Stakeholders
• Functional Manager
• Project Manager
7. How Do We Manage Human Resources?
• Four processes
• Develop Human Resources Plan
• Acquire Project Team
• Develop Project Team
• Manage Project Team
Develop Human
Resources Plan
Acquire Project
Team
Develop Project
Team
Manage Project
Team
8. Develop Human Resources Plan
Enterprise
Environmental
Factors
Organizational
Process Assets
Project
Management
Plan
Roles and
Responsibilities
Organizational charts and
position descriptions
Networking
Organizational theory
Inputs Outputs
Tools & Techniques
Project Organizational
Charts
Staffing Management
Plan
Develop Human
Resources Plan
Acquire Project
Team
Develop Project
Team
Manage Project
Team
9. Acquire Project Team
Enterprise
Environmental
Factors
Organizational
Process Assets
Roles and
Responsibilities
Project Staff
Assignments
Pre-assessment
Negotiation
Acquisition
Virtual teams
Inputs Outputs
Tools & Techniques
Resource Availability
Staffing Management
Plan Updates
Project Org
Charts
Staffing
Management
Plan
Develop Human
Resources Plan
Acquire Project
Team
Develop Project
Team
Manage Project
Team
10. Develop Project Team
Project Staff
Assignments
Staffing Management
Plan
Resource Availability
General management skills
Training
Teambuilding activities
Ground rules
Co-location
Recognition and rewards
Inputs
Outputs
Tools & Techniques
Team
performance
assessment
Develop Human
Resources Plan
Acquire Project
Team
Develop Project
Team
Manage Project
Team
11. Manage Project Team
Organizational Process
Assets
Project Staff Assignments
Roles and
Responsibilities
Observation and conversation
Project performance appraisals
Conflict management
Issue log
Inputs
Outputs
Tools & Techniques
Requested
Changes
Project Org Charts
Staffing Management
Plan
Team Performance
Assessment
Work Performance
Information
Performance Reports
Recommended
Corrective Actions
Recommended
Preventive Actions
Organizational Process
Assets Updates
Project
Management
Plan Updates
Develop Human
Resources Plan
Acquire Project
Team
Develop Project
Team
Manage Project
Team
12. Activity
• What are the different possible ways of assigning project members?
• How do you make sure personnel are efficiently assigned in project
activities?
13. • Resource loading refers to the amount of individual resources an
existing schedule requires during specific time periods
• Overallocation means more resources than are available are assigned
to perform work at a given time
• Resource leveling is a technique for resolving resource conflicts by
delaying tasks
Resource Loading
Information Technology Project
Management, Eighth Edition
13
14. Figure 9-7. Sample Histogram Showing an Overallocated
Individual
Information Technology Project
Management, Eighth Edition
14
15. Figure 9-8. Resource Leveling Example
Information Technology Project
Management, Eighth Edition
15
16. Organization structure of projects
• Types of organizations:
a. project driven eg. NASA
b. Non- project driven eg. Customs office
• There are three main types of project organizations:
1 Functional;
2 Matrix;
3 Project or task force.
18. Projects tend to have a matrix structure.
•The matrix structure groups employees by both
function and product.
•A matrix organization frequently uses teams of
employees to accomplish work
28. 1. Problem solving teams
• These were typically composed of 5 to 12 hourly employees from the
same department who met for a few hours each week to discuss ways
of improving quality, efficiency, and the work environment.
29. 2. Self-managed work teams are groups of
employees (typically
• 10 to 15 in number who take on the responsibilities of their former
supervisors.
30. 3. Cross functional teams
• This application is called cross-functional teams. These are teams
made up of employees from about the samehierarchical level, but
from different work areas, who come together to accomplish a task.
Eg/ committees
31. • Large groups are good for gaining diverse input but smaller groups are
better at doing something productive with that input.
• Increases in group size are inversely related to individual performance
32. The research on group size leads us to two additional conclusions:
(1) Groups with an odd number of members tend to be preferable to
those with an even number; and
(2) (2) groups made up of five or seven members do a pretty good job
of exercising the best elements of both small and large groups.
• Having an odd number of members eliminates the possibility of
ties when votes are taken.
• The best work teams tend to be small. When they have more than
about 10 to 12 members, it becomes difficult to get much done
33. Cohesiveness vs group productivity
• If performance-related norms are high (for example,high output,
quality work, cooperation with individuals outside the group), a
cohesive group will be more productive than will a less cohesive
group.
• But if cohesiveness is high and performance norms are low,
productivity will be low.
i.e. Groupthink, groupshift
34.
35.
36.
37.
38. Common Responsibilities
• Project Sponsor
Accept the product
Provide key dates
Risk threshold
Senior Management
Provide planning time
Prioritize projects
Prioritize triple constraint
Issue project charter
Protect the project
Project Team
Perform work tasks
Manage stakeholders
Define quality
Review project performance &
correct
39. Common Responsibilities
Functional Manager
Assigns individuals to team
Assist with team member
performance issues
Notify PM of other project resources
demands
Project Manager
Integrate project components
In charge of project (not necessarily resources)
Accountable for project failure
Measure performance and act
Does NOT sign the project charter
40. Organizational Charts
• Hierarchical Charts
• Matrix Based
• Responsibility Assignment Matrix (RAM)
• RACI - Responsible, Accountable, Consult, Inform
Activity Ann Ben Carlos Dina
Define A R I I
Design I A R C
Develop I A R C
Test A I I R
Person
Anna
Project Manager
Ed
Instrument Lead
Ted
Painter
Fred
Document
Control
R = Responsible A= Accountable C= Consult I =
Inform
42. Part 7
Learning objectives:
after learning topics in this part, you should
be able to:
allot cost for activities and resource
acquisition
Determine budget for activities
Track const variances and control cost
Project Cost
Management
43. What is not measured is not
controlled, what is not
controlled is not managed…
44.
45.
46.
47.
48.
49. Discussion
• What are the different costing methods and trends that are used in
your respective organizations?
• What the major reasons for cost overruns in projects?
50. Project Cost Management Processes
• Cost estimating: Developing an approximation or
estimate of the costs of the resources needed to
complete a project.
• Cost budgeting: Allocating the overall cost estimate to
individual work items to establish a baseline for
measuring performance.
• Cost control: Controlling changes to the project budget.
50
51. What is Cost and Project Cost
Management?
•A cost management plan is a document
that describes how the organization will
manage cost variances on the project.
•A large percentage of total project costs
are often labor costs, so project managers
must develop and track estimates for labor.
51
52. Basic cost items
• Tangible costs or benefits are those costs or benefits that an
organization can easily measure in dollars.
• Intangible costs or benefits are costs or benefits that are difficult
to measure in monetary terms.
• Direct costs are costs that can be directly related to producing
the products and services of the project.
• Indirect costs are costs that are not directly related to the
products or services of the project, but are indirectly related to
performing the project.
• Sunk cost is money that has been spent in the past; when
deciding what projects to invest in or continue, you should not
include sunk costs.
52
53. Cost Estimating
• Project managers must take cost estimates seriously if they want to
complete projects within budget constraints.
• It’s important to know the types of cost estimates, how to prepare
cost estimates, and typical problems associated with IT cost estimates.
53
55. Cost Budgeting
• Cost budgeting involves allocating the project cost
estimate to individual work items over time.
• The WBS is a required input for the cost budgeting
process because it defines the work items.
• Important goal is to produce a cost baseline:
• A time-phased budget that project managers use to measure
and monitor cost performance.
55
56. Developing the Project Budget
1. Analogous budgeting. This is a form of expert
judgment that uses a topdown approach to predict
costs. It is generally less accurate than other
budgeting techniques.
2. Parametric modeling. This approach uses a
parametric model to extrapolate what costs will be
for a project (for example, cost per hour and cost
per unit
3. Bottom-up budgeting This approach is the most
reliable, though it also takes the longest to create. It
starts at zero and requires each work package to be
accounted for.
57. 57
Table 7-6. Business Systems Replacement Project Budget Estimates for
FY97 and Explanations
Budget Category Estimated Costs Explanation
Headcount (FTE) 13 Included are 9 programmer/analysts, 2
database analysts, 2 infrastructure
technicians.
Compensation $1,008,500 Calculated by employee change notices
(ECNs) and assumed a 4% pay increase in
June. Overload support was planned at
$10,000.
Consultant/Purchased
Services
$424,500 Expected consulting needs in support of the
Project Accounting and Cascade
implementation efforts; maintenance
expenses associated with the Hewlett-
Packard (HP) computing platforms;
maintenance expenses associated with the
software purchased in support of the BSR
project.
Travel $25,000 Incidental travel expenses incurred in
support of the BSR project, most associated
with attendance of user conferences and
off-site training.
Depreciation $91,000 Included is the per head share of
workstation depreciation, the Cascade HP
platform depreciation, and the depreciation
expense associated with capitalized
software purchases.
Rents/Leases $98,000 Expenses associated with the Mach1
computing platforms.
Other Supplies
and Expenses
$153,000 Incidental expenses associated with things
such as training, reward and recognition,
long distance phone charges, miscellaneous
office supplies.
Total Costs $1,800,000
58. 58
Constructive Cost Model (COCOMO)
• Barry Boehm helped develop the COCOMO models for
estimating software development costs
• Parameters include source lines of code or function
points
• COCOMO II is a computerized model available on the
Web
• Boehm suggests that only parametric models do not
suffer from the limits of human decision-making
59. Cost control:Earned Value Management (EVM)
•Earned Value Management (EVM) is the
process of measuring performance of
project work against a plan to identify
variances.
•It can also be useful in predicting future
variances and the final costs at completion.
• EV is based on the original planned costs for the
project or activity and the rate at which the team is
completing work on the project or activity to date.
59
60. Earned Value Management Terms
•The planned value (PV), also called the
budget, is that portion of the approved
total cost estimate planned to be spent on
an activity during a given period.
•Actual cost (AC), is the total of direct and
indirect costs incurred in accomplishing
work on an activity during a given period.
•The earned value (EV), is an estimate of
the value of the physical work actually
completed.
60
61. 2. Earned Value (EV) Earned Value is the physical work completed to
date and the authorized budget for that work.
Example
if a project has a budget of $100,000 and the work completed to date
represents 25 percent of the entire project work, its EV is $25,000.
Earned Value used to be known as the Budgeted Cost of Work
Performed (BCWP).
62. 3. Actual Cost (AC) Actual Cost is the actual amount of monies the
project has required to date.
Example
if a project has a budget of $100,000 and $35,000 has been spent on
the project to date, the AC of the project would be $35,000. Actual
Cost used to be known as Actual Cost of Work Performed (ACWP).
63. Rate of Performance
• Rate of performance (RP) is the ratio of actual work
completed to the percentage of work planned to have
been completed at any given time during the life of the
project or activity.
• For example, suppose the server installation was
halfway completed by the end of week 1. The rate of
performance would be 50 percent (50/100) because by
the end of week 1, the planned schedule reflects that
the task should be 100 percent complete and only 50
percent of that work has been completed.
63
67. Rules of Thumb for Earned
Value Numbers
• Negative numbers for cost and schedule variance
indicate problems in those areas.
• A CPI or SPI that is less than 100 percent indicates
problems.
• Problems mean the project is costing more than
planned (over budget) or taking longer than planned
(behind schedule).
67
68. Part 7
Learning objectives:
after learning topics in this part, you should
be able to:
prepare quality specification plan
assure the quality standards of project’s
deliverables
carry out controlling and evaluation
against project’s standards
Project Quality
Management
71. What Is Project Quality?
• The International Organization for Standardization (ISO)
defines quality as “the degree to which a set of
inherent characteristics fulfills requirements”
(ISO9000:2000)
• Other experts define quality based on:
• Conformance to requirements: the project’s processes and
products meet written specifications
• Fitness for use: a product can be used as it was intended
Chapter 8 - Project Quality
Management
71
72. Q
U
A
L
ITP
L
A
N
N
IN
G Q
U
A
L
IT
YA
S
S
U
R
A
N
C
E Q
U
A
L
IT
YC
O
N
T
R
O
L
P
R
O
J
E
C
TQ
U
A
L
IT
YM
A
N
A
G
E
M
E
N
T
1- INPUTS
-Quality policy
-Scope statement
-Product description
-Standards and regulations
-Other process outputs
2- TOOLS AND TECH.
-benefit/ cost analysis
-Benchmarking
-Flowcharting
-Design of experiments
3- OUTPUTS
-Quality management plan
-Operational definitions
-checklists
-Inputs to other processes
1- INPUTS
-Quality management plan
-result of quality control
measurements
-Operational definitions
2- TOOLS AND TECH.
-Quality planning tools and
techniques
-Quality audits
3- OUTPUTS
-Quality improvement
1- INPUTS
-work results
-quality management plan
-Operational definitions
-checklists
2- TOOLS AND TECH.
-inspection
-Control charts
-Pareto diagrams
-Statistical sampling
-flowcharting
-Trend analysis
3- OUTPUTS
-Quality improvement
-Acceptance decisions
-rework
-Completed checklist
-Process adjustment
73. Definition
What is Quality Planning ?
Quality Planning is identifying which quality standards
are relevant to the project and determining how to
satisfy them .
74. Definition
. What is Quality Assurance
Quality assurance is evaluating the overall project performance on a
regular basis to provide a confidence that the project will satisfy the
relevant quality standards.
75. Definition
What is Quality Control
Quality Control is the monitoring of specific project results to
determine if they comply with the relevant quality standards and
identifying ways to eliminate causes of unsatisfactory performance.
76. Nature of PQM
• Project quality management must address both the management of
the project and the product of the project.
• Failure to meet quality requirements in either dimension can have
serious and negative consequences for any or all of the project
stakeholders
77. PQM Approach compatibility
• compatible with ISO 9000 and 1000 series of standard guidelines
• Proprietary approaches to quality as recommended by Deming, Juran,
and Crosby, and others.
• Nonproprietary approaches such as TQM, Continuous improvement
approaches and others.
78. International quality standards
ISO 9000: is a series of standard for the management
and assurance of quality.
1. ISO 9001- applies when the supplier is responsible
for the development, design, production,
installation and servicing of the product.
2. ISO 9002- aplies when the supplier is responsible for
production and installation
3. ISO 9003- applies for testing and inspecting of
product
4. ISO 9004 – provides guidelines for managers of
organizations to help them develop quality systems
79. Other ISO standards
• ISO 14000 series
• ISO 22000- Food safety
• ISO 26000- social responsibility
• ISO 50001- energy management
• ISO 31000- risk management
• ISO 27001 – information security
• ISO 45001- occupational safety and health
80. Malcolm Baldrige Award
• The Malcolm Baldrige National Quality Award originated in 1987 to
recognize companies that have achieved a level of world-class
competition through quality management
• Given by the President of the United States to U.S. businesses
• Three awards each year in different categories
• Manufacturing
• Service
• Small business
• Education and health care
Chapter 8 - Project Quality
Management
80
81. Part 8
Learning objectives:
after learning topics in this part, you should
be able to:
Understand what risk is and the
importance of good project risk
management.
Discuss the elements involved in risk
management planning and the contents
of a risk management plan.
List common sources of risks in
information technology projects.
Project Risk
Management
83. KPMG study found that 55 percent of runaway
projects—projects that have significant cost or
schedule overruns—did no risk management at all
84. The Importance of Project Risk
Management
• PMBOK definition of Project Risk
• An uncertain event or condition that, if it occurs, has a positive or
negative effect on the project objectives.
• Project risk management is non-stop process
Information Technology Project Management, Fourth Edition
84
85. Risk Management Plan
• Methodology
• Roles and responsibilities
• Budget and schedule
• Risk categories
• Risk probability and impact
• Risk documentation
Information Technology Project Management, Fourth Edition
85
86. Risk Can Be Positive
• project risk negative or positive effect on meeting
project objectives:
1. Positive risks are risks that result in good things
happening; sometimes called opportunities
2. The goal of project risk management is to minimize
potential negative risks while maximizing potential
positive risks.
Information Technology Project Management, Fourth Edition
86
87. • Risk is a combination of the probability of a negative
event and its consequences.
• If an event is inevitable but inconsequential, it does
not represent a risk, because it has no impact.
• Alternatively, an improbable event with significant
consequences may not be a high risk.
• Probable + consequential = loss, failure, danger, or
peril.
.
88. Types of project risk
1. Technical risk eg. Change of industry standard
2. Organization related risk – poor project management skill,
management incapability
3. Organization related risk – labor strike, budget cut
4. External risk – lawsuit, force majure
89. Activity
1. Assess the risk associated with this training.
2. What are the risk factors facing GERD?
90. Risk Utility
• Risk utility or risk tolerance is the amount of
satisfaction or pleasure received from a potential
payoff.
• Utility rises at a decreasing rate for people who are risk-
averse.
• Those who are risk-seeking have a higher tolerance for risk
and their satisfaction increases when more payoff is at
stake.
• The risk-neutral approach achieves a balance between risk
and payoff.
Information Technology Project Management, Fourth Edition
90
91. Figure 11-2. Risk Utility Function and
Risk Preference
Information Technology Project Management, Fourth Edition
91
92. Project Risk Management Processes
1. Risk identification: Determining which risks are likely
to affect a project and documenting the characteristics
of each.
2. Risk analysis: involves qualitative and quantitative risk
measurement.
3. Risk monitoring and control: involves risk response
planning and execution
Information Technology Project Management, Fourth Edition
92
93. Risk analysis
1. Qualitative risk analysis: Prioritizing risks based on
their probability and impact of occurrence
2. Quantitative risk analysis: Numerically estimating the
effects of risks on project objectives.
Information Technology Project Management, Fourth Edition
93
94. Qualitative Risk Analysis
• Assess the likelihood and impact of identified risks
to determine their magnitude and priority.
• Risk quantification tools and techniques include:
• Probability/impact matrixes
• The Top Ten Risk Item Tracking
• Expert judgment
Information Technology Project Management, Fourth Edition
94
95. Risk Identification
• Risk identification is the process of understanding what
potential events might hurt or enhance a particular
project.
• Qualitative Risk identification tools and techniques
include:
• Brainstorming
• The Delphi Technique
• Nominal Group Technique
• Interviewing
• SWOT analysis
• Cause and Effect Diagram
Information Technology Project Management, Fourth Edition
95
96. Brainstorming
• Brainstorming is a technique by which a group
attempts to generate ideas or find a solution for a
specific problem by amassing ideas spontaneously and
without judgment.
Information Technology Project Management, Fourth Edition
96
97. Delphi Technique
• The Delphi Technique is used to derive a consensus among a panel of
experts who make predictions about future developments.
• Provides independent and anonymous input regarding future events.
Information Technology Project Management, Fourth Edition
97
98. Interviewing
• Interviewing is a fact-finding technique for collecting information in
face-to-face, phone, e-mail, or instant-messaging discussions.
Information Technology Project Management, Fourth Edition
98
99. SWOT Analysis
• SWOT analysis (strengths, weaknesses,
opportunities, and threats) can also be
used during risk identification.
• Helps identify the broad negative and
positive risks that apply to a project.
99
Information Technology Project Management, Fourth Edition
100. Quantitative Risk Analysis
• Often follows qualitative risk analysis, but both can be done together.
• Large, complex projects involving leading edge technologies often
require extensive quantitative risk analysis.
• Main techniques include:
• Decision tree analysis
• Estimated monetary value
• Monte-carlo analysis
• Sensitivity analysis
Information Technology Project Management, Fourth Edition
100
101. Probability/Impact Matrix
• A probability/impact matrix or chart lists the relative
probability of a risk occurring on one side of a matrix or
axis on a chart and the relative impact of the risk
occurring on the other.
Information Technology Project Management, Fourth Edition
101
103. Example
• If the product fails V&V, the team estimates it will need another
design iteration to fix the problem(s). The team also believes it would
take 2 weeks to execute the design changes and re-release the
documentation, 8 weeks to procure parts, and another 2 weeks to
assemble the product and repeat the testing.
Exposure Rating = 12 weeks * 25% probability = 4 weeks exposure
105. Chart Showing High-, Medium-, and Low-Risk
Technologies
Information Technology Project Management, Fourth Edition
105
106. Decision Trees and Expected Monetary Value
(EMV)
• A decision tree is a diagramming analysis technique
used to help select the best course of action in
situations in which future outcomes are uncertain.
• Estimated monetary value (EMV) is the product of a
risk event probability and the risk event’s monetary
value.
Information Technology Project Management, Fourth Edition
106
107. Cause and Effect Diagram
Information Technology Project Management, Fourth Edition
107
108. Figure 11-6. Expected Monetary Value (EMV)
Example
Information Technology Project Management, Fourth Edition
108
109. Monte Carlo analysis
• To use a Monte Carlo simulation, you must have three
estimates (most likely, pessimistic, and optimistic) plus
an estimate of the likelihood of the estimate being
between the most likely and optimistic values.
Information Technology Project Management, Fourth Edition
109
110. Steps of a Monte Carlo Analysis
1. Assess the range for the variables being considered.
2. Determine the probability distribution of each
variable.
3. For each variable, select a random value based on
the probability distribution.
4. Run a deterministic analysis or one pass through the
model.
5. Repeat steps 3 and 4 many times to obtain the
probability distribution of the model’s results.
Information Technology Project Management, Fourth Edition
110
111. Figure 11-7. Sample Monte Carlo Simulation Results for
Project Schedule
Information Technology Project Management, Fourth Edition
111
112. Sensitivity Analysis
• Sensitivity analysis is a technique used to show the
effects of changing one or more variables on an
outcome.
• For example, many people use it to determine what the
monthly payments for a loan will be given different
interest rates or periods of the loan, or for determining
break-even points based on different assumptions.
• Spreadsheet software, such as Excel, is a common tool
for performing sensitivity analysis.
Information Technology Project Management, Fourth Edition
112
113. Figure 11-8. Sample Sensitivity Analysis for Determining
Break-Even Point
Information Technology Project Management, Fourth Edition
113
114. Risk monitoring and control
• After identifying and quantifying risks, you must decide
how to respond to them.
• Four main response strategies for negative risks:
1. Risk avoidance – changing or reducing project scope
Eg. Design alteration
change of consultant
Information Technology Project Management, Fourth Edition
114
115. 2. Risk transference – shifting to the third party
Example
• Insurance
• Performance bond
• Waranty
3. Risk mitigation – involves reduction of the consequence of the risk
Eg. Prototype development
116. 4. Acceptance – not changing project plan
Eg. Fallback plan/ contingency plan
117. Using Software to Assist in Project Risk
Management
• Risk registers can be created in a simple Word or Excel
file or as part of a database.
• More sophisticated risk management software, such as
Monte Carlo simulation tools, help in analyzing project
risks.
• The PMI Risk Specific Interest Group’s Web site at
www.risksig.com has a detailed list of software
products to assist in risk management.
Information Technology Project Management, Fourth Edition
117
118. Results of Good Project Risk Management
• Unlike crisis management, good project risk
management often goes unnoticed.
• Well-run projects appear to be almost effortless, but a
lot of work goes into running a project well.
• Project managers should strive to make their jobs look
easy to reflect the results of well-run projects.
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119. Part 9
Learning objectives:
after learning topics in this part, you should be
able to:
Understand the importance of good
communications in projects.
Explain the elements of project
communications planning, including how to
create a communications management plan
and perform a stakeholder communications
analysis.
Describe various methods for distributing
project information and the advantages and
disadvantages of each, discuss the importance
of addressing individual communication needs,
and calculate the number of communications
channels in a project
Project
Communication
Management
123. Other Communication Considerations
Rarely does the receiver interpret a message exactly as
the sender intended.
Geographic location and cultural background affect the
complexity of project communications.
Different working hours
Language barriers
Different cultural norms
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124. Importance of Face-to-Face Communication
Research says that in a face-to-face interaction:
58 percent of communication is
through body language.
35 percent of communication is
through how the words are said.
7 percent of communication is
through the content or words that
are spoken.
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125. Communication Checklist
• How do you construct an effective presentation or report?
• Who is your audience?
• What are they interested in?
• What do you want them to remember?
131. Project Communications
Management Processes
1. Communications planning: Determining the information and
communications needs of the stakeholders.
2. Information distribution: Making needed information
available to project stakeholders in a timely manner.
3. Performance reporting: Collecting and disseminating
performance information, including status reports, progress
measurement, and forecasting.
4. Managing stakeholders: Managing communications to satisfy
the needs and expectations of project stakeholders and to
resolve issues.
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132. Performance Reporting
Performance reporting keeps stakeholders informed
about how resources are being used to achieve project
objectives.
Status reports describe where the project stands at a specific
point in time.
Progress reports describe what the project team has
accomplished during a certain period of time.
Forecasts predict future project status and progress based on
past information and trends.
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132
133. • What are the different reports that are prepared in project
134. The Impact of the Number of People on Communications
Channels
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134
136. Project Procurement Management
• Project Procurement Management includes the processes necessary
to purchase or acquire products, services, or results needed from
outside the project team.
• The organization can be either the buyer or seller of the products,
services, or results of a project.
137. Plan Procurement Management : T&T
1. Make-or-buy Analysis
• The process of gathering and organizing data about product requirements and
analyzing them against available alternatives including the purchase or
internal manufacture of the product.*
* These definitions are taken from the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK ® Guide) - Fifth Edition, Project Management Institute, Inc., 2013.
Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) - Fifth Edition, Project Management Institute, Inc., 2013, Figure 12-2, Page 358
138.
139.
140.
141. Plan Procurement Management—The process of documenting project procurement decisions,
specifying the approach, and identifying potential sellers.*
Conduct Procurements—The process of obtaining seller responses, selecting a seller, and awarding
a contract.
Control Procurements—The process of managing procurement relationships, monitoring contract
performance, and making changes and corrections as appropriate.
Close Procurements—The process of completing each project procurement
142. Organizational Process Assets
• The various types of contracts used by the organization will influence
this process. Some of the most popular contracts types are:
• Fixed- Price Contracts
• Cost-reimbursable Contracts
• Time and Material Contracts
Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) - Fifth Edition, Project Management Institute, Inc., 2013, Figure 12-2, Page 358
143. Fixed Price Contract
1. Firm-Fixed-Price Contract (FFP)
• A type of fixed price contract where the buyer pays the seller a set amount (as
defined by the contract), regardless of the seller’s costs.*
2. Fixed Price Incentive Fee Contract (FPIF)
• A type of contract where the buyer pays the seller a set amount (as defined by
the contract), and the seller can earn an additional amount if the seller meets
defined performance criteria.*
3. Fixed-Price with Economic Price Adjustment Contracts
(FP-EPA)
• A fixed-price contract, but with a special provision allowing for predefined final
adjustments to the contract price due to changed conditions, such as inflation
changes, or cost increases (or decreases) for specific commodities.*
* These definitions are taken from the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK ® Guide) - Fifth Edition, Project Management Institute, Inc., 2013.
144. Cost-reimbursable Contract
1. Cost Plus Fixed Fee Contract (CPFF).
• A type of cost-reimbursable contract where the buyer reimburses the seller
for the seller’s allowable costs (allowable costs are defined by the contract)
plus a fixed amount of profit (fee).*
2. Cost Plus Incentive Fee Contract (CPIF).
• A type of cost-reimbursable contract where the buyer reimburses the seller
for the seller’s allowable costs (allowable costs are defined by the contract),
and the seller earns its profit if it meets defined performance criteria.*
* These definitions are taken from the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK ® Guide) - Fifth Edition, Project Management Institute, Inc., 2013.
145. Cost-reimbursable Contract
3. Cost Plus Award Fee Contracts (CPAF).
• A category of contract that involves payments to the seller for all legitimate
actual costs incurred for completed work, plus an award fee representing
seller profit.*
* These definitions are taken from the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK ® Guide) - Fifth Edition, Project Management Institute, Inc., 2013.
146. Conduct Procurements
1. Bidder
2. Proposal evaluation techniques
3. Independent estimates
4. Expert judgment
5. Advertising
6. Analytical techniques
7. Procurement negotiations
Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) - Fifth Edition, Project Management Institute, Inc., 2013, Figure 12-4, Page 371
147.
148. Control Procurements
3. Inspections and Audits
• A process to observe performance of contracted work or a promised product against
agreed-upon requirements.*
* These definitions are taken from the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK ® Guide) - Fifth Edition, Project Management Institute, Inc., 2013.
Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) - Fifth Edition, Project Management Institute, Inc., 2013, figure 12-6, Page 379.
149. Control Procurements
5. Payment Systems
• The system used to provide and track supplier’s invoices and payments for services and
products.*
* These definitions are taken from the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK ® Guide) - Fifth Edition, Project Management Institute, Inc., 2013.
Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) - Fifth Edition, Project Management Institute, Inc., 2013, figure 12-6, Page 379.
150. Control Procurements
• Control Procurements is the process of managing procurement
relationships, monitoring contract performance, and making changes
and corrections to contracts as appropriate. *
* These definitions are taken from the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK ® Guide) - Fifth Edition, Project Management Institute, Inc., 2013.
151. Close Procurements
• Administrative activities such as finalizing claims, updating final
results and archiving will take place in this process.
• This process needs to be performed even for early termination of
contracts.
Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) - Fifth Edition, Project Management Institute Inc., 2013, Page 387.
152. Part 10
Learning objectives:
after learning topics in this part, you should
be able to:
Understand the framework of project
integration management
Understand how project changes are
procedurally administered
Project
integration
Management
153. Figure 3-2. Framework for Project Integration
Management
Course Technology 2001 153
Focus on pulling everything to-
gether to reach project success!
154. Project Integration Management Processes
• Project Plan Development: taking the results of other
planning processes and putting them into a
consistent, coherent document—the project plan
• Project Plan Execution: carrying out the project plan
• Integrated Change Control: coordinating changes
across the entire project
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155. Figure 3-1. Project Integration Management
Overview
Course Technology 2001 155
Note: The PMBOK Guide includes similar charts for each knowledge area.
156. Some Examples of Integration Processes
•Project work should be integrated with the ongoing
operations of the performing organization.
•Product and Project Scope must be integrated.
•Cost estimates must be integrated with the processes in
cost, time, and risk Knowledge Areas.
•Change requests should be integrated with initial
project deliverable projections.
157. Perform Integrated Change Control
Process of influencing the factors that circumvent integrated change control so that only approved
changes are implemented
• •Process to review, analyze, and approve change requests - timely response minimizes the
possibility of negative effect on time, cost, or the feasibility of a change
• •Involves managing the changes that are approved
• •Involves maintaining integrity of the performance measurement baselines
• •Involves documenting the entire impact created by the change request
• •Process to review, approve/reject recommended preventive, or corrective actions
• •Involves coordinating changes across the entire project (e.g., change in schedule will impact
cost, risk, quality, and staffing)
• Very important: Change Control in one Knowledge Area will impact other Knowledge
• Areas. So, the Project Manager should be able to relate changes across Knowledge Areas