Recorded Webinar:Project Management - Developing Project Schedules and Budgets - PowerPoint PPT Presentation

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Recorded Webinar:Project Management - Developing Project Schedules and Budgets

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Project Management refers to the process of applying relevant project life cycle processes, appropriate methodologies, understanding, skills and experience for successful competition of the projects adhering to the given timelines and budgets. Developing effective and workable project schedules and budgets are the most crucial tasks that forms the base of project success. Using agile methodologies can help project managers to achieve foolproof project management with efficiently formulated schedules and budget. This recorded webinar takes you through the process of developing project schedules and formulating the project budget that can help you execute the entireTo wlife cycle stages and project management effortlessly. To watch the full webinar click here: – PowerPoint PPT presentation

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Title: Recorded Webinar:Project Management - Developing Project Schedules and Budgets


1
Project Management Developing Project Schedules
and Budgets
Hasnain Rizvi NetCom Learning
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2
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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11
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
kMf
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About NetCom Learning
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Recommended Courses
Project Management Professional (PMP) - Class
scheduled on Sep 11 ITIL Foundation
Certification Prep - Class scheduled on Sep 17
PMI Agile Certified Practitioner (PMI-ACP) -
Class scheduled on Oct 22 Certified Associate
in Project Management (CAPM) Agile Project
Management ITIL Foundation eLearning
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Started With CompTIA PenTest PowerPoint 2016
10 Tips to Master Presentations Hands-On Power
BI for Data Visualization Autodesk Inventor
Essentials Visual Styles, Visualization, and
Graphics Business Acumen for Project Managers
DevOps Foundations Lean and Agile CISSP
Certification Prep Security and Risk Management
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