BUS 1040. Project Management Week 13 – Nov. 22-25, 02

1. BUS 1040. Project Management Week 13 – Nov. 22-25, 02 • Group Presentations • Break. • Group work: Lessons Learned exercise - “In class” marks • Continued: solving common project problems. • Online Quiz-marks See attached slides. Some more material will be posted Tues. eve. Taken from Verzuh 300-309 Written by F. Pentney

2. Project Close out. • May be at the end of a project phase or delivery completion of project. • Audit your project close. • Need reporting close out – Change Order requests and Issues logs. • Need financial accounts reconciled • Need customer’s formal acceptance of the deliverables. • Develop a lessons learned log • Poll all participants for input What worked, what didn’t? • Organize all project documents for future referral. • Pass on necessary documents. • Celebrate completion. Written by F. Pentney

3. Lessons learned - Project Summary reporting. This section of the course is to apply the theory. Reviewing your group project presents an excellent opportunity to learn. Using handout, within space provided – each person submit their perspective, relative to their role in the project. • What went well? • What didn’t go well? • What would you do differently? • Went well. Work with your groups in class: choose an aspect of your project that went well and describe which project management tool/technique helped this happen for your part of the project. 2. What didn’t go well? List two items: identify specifically which project management tool or technique you didn’t use, but could or should have, and the difference it would have made for your part of the project. 3. What one thing would you do differently as a team member or project manager on the next project? Review/discuss activities as a group but submit individual copies of your report. Written by F. Pentney

4. Quick reference to problem solving: Verzuh • Project management is change management. • Scope creep is the most common problem - it can be schedule, budget or quality that is affected. 1. Review the changes occurring from plan 2. Translate into time, $ and performance (quality) 3. Do a cost benefit analysis 4. Get changes approved 5. Communicate to all who need to know 6. Monitor the effect of the changes • Many project problems can be dealt with using the above approach. However, specific situations may require a targeted approach and solution. The following are samples: Written by F. Pentney

5. Scope creep-addendum • Monitor budget, schedule and performance to assess scope creep. • Set standards and benchmarks early. • Respond quickly to indicators of variance – critical ratios. • Critical ratios are variances from forecast schedules and budget. • (Note Earned value is a similar measure). • More on this topic will be added. Nov 22-25, 2002. Being researched. Written by F. Pentney

6. Review success criteria, plan then monitor Written by F. Pentney

7. Quick reference to problem solving: Verzuh Written by F. Pentney

8. Quick reference to problem solving: Verzuh Estimating unknowns-review • Estimate a phase rather than whole project. • Use your WBS to break down task into really small packages to identify hidden potential costs. • Build in some “cushions” for budget and time. Promote efficiencies. • Look at the history file of projects. Written by F. Pentney

9. Marking scheme for rest of term • On line Quiz format. • In class marks for group work continued • Your comfort level on various topics. • Extra tuition, Fri. 2-3? • Exam format, types of questions? • Class feedback early enough so Instructor (Fred) can work with you! Written by F. Pentney