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Gain essential knowledge on project management time activities, cost management, and procurement processes. Learn about process groups, knowledge areas, project constraints, and strategies to manage schedule and cost constraints effectively. Understand project time management processes, developing project schedules, managing project costs, and controlling budgets to ensure project success.
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Introduction to Project Management Managing Project Time, Cost, and Procurements Lecture a This material (Comp 19 Unit 6) was developed by Johns Hopkins University, funded by the Department of Health and Human Services, Office of the National Coordinator for Health Information Technology under Award Number IU24OC000013. This material was updated in 2016 by Johns Hopkins University under Award Number 90WT0005. This work is licensed under the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by-nc-sa/4.0/.
Managing Project Time, Cost, and Procurements Learning Objectives—Lecture a • Define project management time activities. • Define project cost management activities. • Define project procurement activities.
Introduction and Overview 5 Process Groups • Initiating • Planning • Executing • Monitoring and controlling • Closing 9 Knowledge Areas 42 Project Management Processes
Essential Planning Processes • Collect requirements process • Define scope process • Create WBS process • Define activities process • Developing schedule, determining budget & making procurement decisions
Developing Schedule, Determining Budget, and Making Procurement Decisions
Schedule and Cost Constraints Early in the project it is important for the project team to work with the key stakeholders to identify project constraints related to scope, time, cost, and other items (technical, legal, etc).
Exercise • List project constraints inherent in your organization. • List unique constraints you have encountered on individual projects.
Project Constraints PROJECT MANAGER Manages the Project Constraints
Triple Constraint: Basic Foundation of Project Management Competing demands on projects: • Scope • Time • Cost Consider all constraints equal unless otherwise stated
Strategies to Manage Schedule and Cost Constraints Questions to ask: • Importance of each constraint? • Is possible to prioritize the constraints (rank order)? • What is the flexibility of a constraint? • Can the deadline or budget be negotiated? • What is the customers’ risk tolerance?
Time Management Process Sequence • Define activities • Sequence activities • Estimate activity resources • Estimate activity durations • Develop a schedule • Control schedule
Developing a Project Schedule • Activities are sequenced (predecessors and successors are determined) • Activity paths are determined • Duration of each path is calculated • Critical path is identified (longest path & determines the soonest the project will complete)
Managing Project Time, Cost, and Procurements Summary—Lecture a • Work Breakdown Structure • Work packages to list of activities • Project time and cost management activities • Define, sequence, and estimate activities • Develop schedule • Develop budget • Control budget
Managing Project Time, Cost, and Procurements References—Lecture a—1 References Fleming Q, Koppelman J. (2006) Earned Value Project Management. 3rd ed. Newtown Square, Pennsylvania: Project Management Institute (PMI). Fleming Q. (2003) Project procurement management: contracting, subcontracting, teaming. 1st ed. FMC Press; 2003. Houston S, Bove LA. (2010) Project Management for Healthcare Informatics. New York: Springer Science + Business Media, LLC. Kerzner H. (2009) Project Management: a Systems Approach to Planning, Scheduling, and Controlling. 10th ed. Hoboken, NJ.:Wiley. Project Management Institute, A Guide to the Project Management Body of Knowledge. 4thed (2008).Newtown Square, PA: PMI. Scwalbe K. (2009) Information technology project management (with Microsoft Project 2007 CD-ROM). 6th ed.; Boston: Cenage Learning. Stackpole C. (2009). A Project Manager’s Book of Forms: A Companion to the PMBOK Guide. Hoboken, N.J.:Wiley; Wysocki, RK . (2009) Effective project management: traditional, agile, extreme. 5th Edition. New York: Wiley; 2009.
Managing Project Time, Cost, and Procurements References—Lecture a—2 Charts, Tables, Figures Table 6.1. Project Activities by Process Groups. Courtesy of Theron Feist. Table 6.2 Time Management Outputs and Processes. Courtesy of Theron Feist. Images Slide 4: Process Group Sequence. Courtesy of Theron Feist. Slide 7: Collect Process Requirements. Courtesy of Theron Feist. Slide 8: Define the Scope Process. Courtesy of Theron Feist. Slide 9: Create the WBS Process. Courtesy of Theron Feist. Slide 10: Work Breakdown Structure (WBS). Courtesy of Theron Feist. Slide 11: Work Breakdown Structure. Courtesy of Theron Feist. Slide 12: Define Activities Process. Courtesy of Theron Feist. Slide 13: Developing Schedule. Courtesy of Theron Feist. Slide 16: Henri Gannt. Creative commons: Wikipedia. Available from: http://en.wikipedia.org/wiki/File:Henri_Gannt.jpg
Introduction to Project ManagementManaging Project Time, Cost, and Procurements Lecture a This material (Comp 19 Unit 6) was developed by Johns Hopkins University, funded by the Department of Health and Human Services, Office of the National Coordinator for Health Information Technology under Award Number IU24OC000013. This material was updated in 2016 by Johns Hopkins University under Award Number 90WT0005.