Recorded Webinar:Project Management - Developing Project Schedules and Budgets

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Project Management Developing Project Schedules
and Budgets
Hasnain Rizvi NetCom Learning
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Agenda

• History of Project Management
• What is Project?
• Relationship of Project, Program, Portfolio and
  Operations Management
• Project Lifecycle
• Agile Project Lifecycle
• PMI Knowledge Areas Process Groups
• WBS
• Time Management
• Cost Management
• What is Earned Value Management (EVM)

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History of Project Management

• Ancient era Great Pyramid of Giza,
• Great Wall of China
• 1942-1946 Manhattan Project
• 1950s US Navy
• Polaris missile system project
• 1960s-70s DoD, NASA and construction companies
• Large budget, schedule-driven projects

• 1969
• 1980s
• 1984
• 1990s

• PMI launches
• Manufacturing and software development sectors
  PMP exam is launched
• Multiple-industry adoption,
• birth of Agile methodologies
• 2004 IIBA launches
• 2005 onwards PMI launches multiple certification
  tracks SCRUM Alliance launches Scaled Agile
  Framework launches
• 2016 Obama signs Program Improvement and
  Accountability Act

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What is a Project?
A Project is a temporary endeavor undertaken
to create a unique, product, service, or result.
Temporary endeavor with a beginning and an
end, not an on-going effort Progressive
Elaboration.
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Cone of Uncertainty
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Relationship of Project, Program, Portfolio and
Operations Management
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Project Lifecycle Agile Projects
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What is the Lifecycle of a Project?

• A collection of project phases
• Sequential

• Overlapping

Release 1
Release 2
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Agile Project Lifecycle
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Plan Driven vs. Change Driven

• Predictive (Plan Driven) - Waterfall
• Structured
• Well documented
• Traditional waterfall type (PMBOK)
• Adaptive (Change Driven) - Agile
• More collaborative
• Rapid solution development
• SCRUM, XP, Lean, Crystal, etc.

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PMI Knowledge Areas
Integration Management
Scope Management
Procurement Management
Time Management
Risk Managemen t
Project Knowledge Areas
Cost Management
Stakeholder Management
Communica tions Managemen t
Quality Management
Resources Management
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PMI Process Groups
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Sample WBS with Code of Accounts
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Benefits of the WBS

• Facilitates communication
• Creates work packages that allow for more
  accurate estimates
• Facilitates performance measurement
• Allows for improved handling of changes
• Available for re-use, with appropriate
  modifications on future similar projects

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Time Management
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Rolling Wave Planning
Balances short and long term planning
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Lag and Lead

• Lag
• o When a successors start or finish can be
  delayed from the predecessors start or
• finish.

?
?
? ?

• Lead (Negative Lag)
• o If the successors start or finish can occur
  before the predecessors start or finish.

? ?
?
?
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Dependencies

• Mandatory Dependencies (Hard Logic)
• Discretionary Dependencies (Preferred,
  Preferential, or Soft Logic)
• External Dependencies
• Internal Dependencies

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Precedence Analysis
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Estimate Activity Durations

• Estimating the number of work periods which will
  be needed to complete the individual activities
• Potential Sources of Estimates
• Historical Project Files
• Commercial Databases
• Use of Formulas
• Team Knowledge/Professional Judgment
• WBS provides a solid foundation for estimating

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3 Point Estimating
Weighted Average/ Beta Distribution (Expected
Activity Duration) T O 4M P 6
Where
T weighted average time
O lowest or optimistic time
M most likely time
P highest or pessimistic time
P
E
R
T
Triangular Mean/Triangular Distribution T O
M P 3
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Gantt or Bar Chart
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Network Diagram
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Resource Optimization Techniques - Resource
Leveling
Over-allocation Limit Available Need

• Resource over-allocation leads to
• Overtime costs Slipped schedules Reduced
  productivity

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Schedule Compression

• Fast Tracking - Replan serial activities to be in
  parallel
• Crashing - Shorten the duration of critical
  activities
• o Only applies to the critical path

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Cost Management
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Cone of Uncertainty
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What is Earned Value Management (EVM)?

• Earned Value (EV) - the objective, quantified
  measure of work accomplished
• Planned Value (PV) - increments constituting the
  performance measurement baseline
• Actual Cost (AC) of resources
• The primary difference between an adequate
  management system and a performance measurement
  system is Earned Value.

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Recorded Webinar Video
To watch the recorded webinar video for live
demos, please access the link https//bit.ly/2OVf
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About NetCom Learning
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