The document summarizes how economic conditions can impact project objectives and how projects must adapt to changing economic environments. It provides an overview of key economic indicators and how fluctuations can influence factors like project costs. A practical example is given of adapting a project's cost objective in response to economic changes by applying value engineering techniques. Value engineering is defined as a systematic process to deliver necessary functions at the lowest overall cost by identifying functions, determining value, and finding the best balance of cost, reliability, and performance.
A CCP is an experienced practitioner with advanced knowledge and technical expertise to apply the broad principles and best practices of Total Cost Management (TCM) in the planning, execution and management of any organizational project or program.
this project management presentation focus on 4 important topic . like Project Rating Index(PRI), Porter 5 Factor Model, Experience curve, Triple constraint of project .
A CCP is an experienced practitioner with advanced knowledge and technical expertise to apply the broad principles and best practices of Total Cost Management (TCM) in the planning, execution and management of any organizational project or program.
this project management presentation focus on 4 important topic . like Project Rating Index(PRI), Porter 5 Factor Model, Experience curve, Triple constraint of project .
Online PMP Training Material for PMP Exam - Quality Management Knowledge AreaGlobalSkillup
Quality Management Knowledge Area in Project management defined by PMBOK 5th Edition by Project Management Institute (PMI). Provided by GlobalSkillup.com towards PMP Certification Exam.
Narrated copy of "Project Portfolio Selection" presentation made to the PMI Symposium 2008 in Ottawa. Puts forward a scoring model for selecting projects which are best aligned against organizational strategies and goals.
Can be downloaded and listened to.
Project management is the use of specific knowledge, skills, tools, and techniques to deliver something of value to people. ... Leading these projects are Project Professionals—people who either intentionally or by circumstance are asked to ensure that a project team meets its goals.
PMP - Project Initiation Template for ProfessionalsDaniel_Mccrea
WHAT
--------------
A helpful guide for Project Management Professionals who are at the beginning of their projects in 'Project Initiation'.
FOR
--------------
Written in plain English for use in the real world (not just for study). If you're a professional who's rusty on Initiation or have fallen into bad habits - this guide will remind you what questions to ask,...and why!
BY
--------------
Daniel Mccrea a PRINCE2(R) and PMP(R) certified Project Manager specialising in online Software/ & Content Delivery.
Visit me here:
ie.linkedin.com/in/danielmccrea/
Online PMP Training Material for PMP Exam - Quality Management Knowledge AreaGlobalSkillup
Quality Management Knowledge Area in Project management defined by PMBOK 5th Edition by Project Management Institute (PMI). Provided by GlobalSkillup.com towards PMP Certification Exam.
Narrated copy of "Project Portfolio Selection" presentation made to the PMI Symposium 2008 in Ottawa. Puts forward a scoring model for selecting projects which are best aligned against organizational strategies and goals.
Can be downloaded and listened to.
Project management is the use of specific knowledge, skills, tools, and techniques to deliver something of value to people. ... Leading these projects are Project Professionals—people who either intentionally or by circumstance are asked to ensure that a project team meets its goals.
PMP - Project Initiation Template for ProfessionalsDaniel_Mccrea
WHAT
--------------
A helpful guide for Project Management Professionals who are at the beginning of their projects in 'Project Initiation'.
FOR
--------------
Written in plain English for use in the real world (not just for study). If you're a professional who's rusty on Initiation or have fallen into bad habits - this guide will remind you what questions to ask,...and why!
BY
--------------
Daniel Mccrea a PRINCE2(R) and PMP(R) certified Project Manager specialising in online Software/ & Content Delivery.
Visit me here:
ie.linkedin.com/in/danielmccrea/
The introduction of a project management framework will provide a structured and managed approach for projects within your company.
With the right framework in place it will allow projects of all sizes and priority to be planned effectively. This ensures that at all times the cost of the project is managed while delivering quality and the right level of performance and control across project management.
A CCP is an experienced practitioner with advanced knowledge and technical expertise to apply the broad principles and best practices of Total Cost Management (TCM) in the planning, execution and management of any organizational project or program. CCPs also demonstrate the ability to research and communicate aspects of TCM principles and practices to all levels of project or program stakeholders, both internally and externally.
A CCP is an experienced practitioner with advanced knowledge and technical expertise to apply the broad principles and best practices of Total Cost Management (TCM) in the planning, execution and management of any organizational project or program. CCPs also demonstrate the ability to research and communicate aspects of TCM principles and practices to all levels of project or program stakeholders, both internally and externally.
A CCP is an experienced practitioner with advanced knowledge and technical expertise to apply the broad principles and best practices of Total Cost Management (TCM) in the planning, execution and management of any organizational project or program. CCPs also demonstrate the ability to research and communicate aspects of TCM principles and practices to all levels of project or program stakeholders, both internally and externally.
A CCP is an experienced practitioner with advanced knowledge and technical expertise to apply the broad principles and best practices of Total Cost Management (TCM) in the planning, execution and management of any organizational project or program. CCPs also demonstrate the ability to research and communicate aspects of TCM principles and practices to all levels of project or program stakeholders, both internally and externally.
A CCP is an experienced practitioner with advanced knowledge and technical expertise to apply the broad principles and best practices of Total Cost Management (TCM) in the planning, execution and management of any organizational project or program. CCPs also demonstrate the ability to research and communicate aspects of TCM principles and practices to all levels of project or program stakeholders, both internally and externally.
A CCP is an experienced practitioner with advanced knowledge and technical expertise to apply the broad principles and best practices of Total Cost Management (TCM) in the planning, execution and management of any organizational project or program. CCPs also demonstrate the ability to research and communicate aspects of TCM principles and practices to all levels of project or program stakeholders, both internally and externally.
Oprah Winfrey: A Leader in Media, Philanthropy, and Empowerment | CIO Women M...CIOWomenMagazine
This person is none other than Oprah Winfrey, a highly influential figure whose impact extends beyond television. This article will delve into the remarkable life and lasting legacy of Oprah. Her story serves as a reminder of the importance of perseverance, compassion, and firm determination.
Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI.
Modern Database Management 12th Global Edition by Hoffer solution manual.docxssuserf63bd7
https://qidiantiku.com/solution-manual-for-modern-database-management-12th-global-edition-by-hoffer.shtml
name:Solution manual for Modern Database Management 12th Global Edition by Hoffer
Edition:12th Global Edition
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ISBN:ISBN 10: 0133544613 / ISBN 13: 9780133544619
type:solution manual
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All chapter include
Focusing on what leading database practitioners say are the most important aspects to database development, Modern Database Management presents sound pedagogy, and topics that are critical for the practical success of database professionals. The 12th Edition further facilitates learning with illustrations that clarify important concepts and new media resources that make some of the more challenging material more engaging. Also included are general updates and expanded material in the areas undergoing rapid change due to improved managerial practices, database design tools and methodologies, and database technology.
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Implication of economic conditions in changing project objectives
1. 10 – 13 March 2019
Jeddah Centre for Forums & Events
Implication of Economic
Conditions in Changing Project
Objectives (How to adapt to change?)
HISHAM HARIDY
BSc, MBA, PMP®, PMI-RMP®, PMI-SP®
Project Management Director
2. CONTENT
What is Economic Conditions?
Changing in Project Objectives
Practical Example “Adapt to Project Cost Objective”
3. Strategy Analysis
Macro Environment
(PESTL)
Micro environment
(Porter Five forces)
Level of competition in a certain
market
Access to Finance
Marketing
Process skills
Core Competencies
Value chain
Competitive advantage
TOWS
STRATEGIC
CHOICE
External Analysis Internal Analysis
SWOT
IMPLEMENTATION &
CONTROL
Opportunities
Threats
Strengths
Weaknesses
The organization possesses in
itself
Within the project team’s
control
Project team has little or
no control
4. Economic Conditions
The present state of the economy in a country.
Economic Conditions one of the major factors that affect
the Project Cost Performance.
Economic Conditions affect on Business Strategy.
Economy is
Contracting
SOUND
Economy is
Expanding
Economic Conditions
ADVERSE
5. Healthy
of
Economy
Income
“GDP”
Unemployment Rate Inflation Rate
Interest Rate
Economic Indicators (Macro- Economic)
Fluctuation in the prices
of materials
High interest rates charged
by banks on loans and mode
of financing
Economic stability
The employment level
The bench mark
unemployment rate is 6%
Price index --- the ideal 1-
2% up to 5%
7. Guiding Principles
Must be enforced
Projects tend to be the
primary method for
implementing many
objectives
Aligns with organizational strategies
by selecting the right projects,
prioritizing work, and providing
needed
resources.
Cascaded
In place
Strategic alignment of objective setting occurs annually
8. Projects, Program, and Portfolio
PMI_PMBOK 6th Edition
Strategic Plan
Project
A temporary endeavor undertaken to create a unique product, service or result.
Program
A group of related projects managed in a coordinated way to obtain benefits
and control not available from managing them individually.
Portfolio
A collection of projects, programs, sub-
portfolios, and operations managed as a
group to achieve strategic objectives.
Strategic Plan/ Strategic Business Plan
The strategy of an organization is an
action plan to achieve its business goals
and objectives.
9. Project Objectives
1. MUST have at LEAST one objective.
2. Made known to all Stakeholders.
3. Communicated accurately.
4. SMART
A strategic
position to
be attained
A purpose
to be
achieved
A result to
be obtained
A product
to be
produced
A service
to be
performed.
Three Broad Objectives of A Project
• Performance and Quality.
• The most important objective of a project is to perform the
functions for which it was initiated.
Function
• The project cost is a critical project element, and meeting
project budgets is a broad objective of all projects.
Cost
• Since projects are time-limited, the project completion date is
important to meet the cost objective. “Delivery ON TIME”
Timing
10. Project Change Management
Where we
are?
(Measurement)
Where we
planned to
be?
(Evaluation)
How can we
get on track
again?
(Correction)
“Project deliverables must be maintained carefully and
continuously managing changes.”
11. Changing in Project Objectives
All strategic change in an organization happens through
project and program management
13. The BEST Achievable cost saving
(Optimum Project Cost).
Practical Example “Adapting Project Cost Objective”
Optimize Capital
Spending
The development benefit and the
alignment with vision
Fiscal balance Program
The Bureau of Capital and Operational
Spending Rationalization
14. Value
Value =
Worth
Cost
Value =
Performance of its Function
Cost
Value =
Benefits
Costs
Value
What the product is
worth to the
customer
Function
The Properties
and qualities of
product
Cost
The Money value
of materials used,
Labor and
indirect costs
Greater
than 1
15. 1. A systematic application of recognized techniques which identify the
functions of the product or service, establish the worth of those functions,
and provide the necessary functions to meet the required performance at
the lowest overall cost.
2. An approach that seeks out the best functional balance between the cost,
reliability and performance of a project.
3. Offering lowest cost without detriment to value, quality, performance and
reliability.
4. Applied during any stage of a project cycle.
5. VE is applied in an organized process known as VE job plan.
Value Engineering
1 2
3
17. Information Phase
Function Analysis
Phase
Creative Phase
Evaluation Phase
Development Phase
Presentation Phase
1
2
3
4
5
6
Value Engineering Standard Job Plan
Understand the project
Understand and clarify the required functions.
Generate ideas to accomplish
/enhance the required functions
Select the ‘best’ alternative(s) for
improving value
A focused list of ideas to the enhancement
of quality, sustainability, functionality and
performance
Present the value recommendation to
the project stakeholders
VE Team
Priority Ideas, Rating,
Voting System
18. Outputs
• We can review the building from the perspective of the
owner’s maintenance staff and recommend products.
• It can produce long-term savings through reduced
maintenance.
Maintainability
• A less expensive alternative to a specified product or
system
• It may or may notinclude a difference in quality.
Cost Reduction
• A higher quality product.
• It may or may not carry a higher price but will bring
added value to the project.
Value Added
• Identify options that will allow us to strike the proper
balance between initial construction cost and long-term
operational costs.
Life-Cycle
Analysis
19. Example
Construction Project
450 K USD36 Months
Basic Design 62 persons
VE
131
71
4
4
0 20 40 60 80 100 120 140
Number of Ideas
Number of Accepted Proposal
Value added
Recommendations
General Recommendation
32%
0
2
4
6
8
10
Life Cycle Cost
Sustainability
Constructability
Safety
Functionality
Future Expansion