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OM480 Project Management

OM480 Project Management. The Managerial Process – An Introduction (With material from text authors). Practical Project Management Overview. Introductions and Expectations Course Layout Project Landscape. Course Objectives. Introduce students to the elements of project management

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OM480 Project Management

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  1. OM480Project Management The Managerial Process – An Introduction (With material from text authors)

  2. Practical Project ManagementOverview • Introductions and Expectations • Course Layout • Project Landscape

  3. Course Objectives • Introduce students to the elements of project management • Provide opportunities to develop critical thinking skills in project management • Explore project management via software • Integrate the financial, operational, information systems, accounting, economic, and marketing concepts explored in the CUSB curriculum

  4. Course Outcomes • Develop a project management outline • Derive a work breakdown structure from a project outline • Develop activity network schedules • Make financial, time, and other resource allocations against an activity-based network • Understand the trade-offs between resources and time when re-defining projects • Use automated project management tools

  5. How We’ll Get There • Part 1 – Mechanics of Project Management • Part 2 – Leading PM Efforts • Lecture • Discussion • Hands-on – PM Software • Assessments – Exams and Assignments

  6. Project Management A Working Definition • Project: • A problem with a known solution scheduled for completion—unique and non-routine activities • Project Management: • The science and art of solving the problem within predetermined time and resource parameters • Shouldering just enough risk to escape with your career intact!!!

  7. ACWP Actual cost of work performedAOA Activity on arrowAON Activity on nodeBAC Budget at completionBCWP Budgeted cost of work performedBCWS Budgeted cost of work scheduledC-C Critical chain approach to project planning and managementCPI Cost performance indexCPM Critical path methodCV Cost varianceDUR DurationEAC Estimate at completion (with revised cost estimates)EF Early finishES Early startETC Estimate to completeEV Earned valueFAC Forecast at completionFF Free FloatFAC Forecast at completion KISS Keep it simple, stupidIFB Invitation to bidLF Late finishLS Late startMBWA Management by wandering aroundNIH Not invented hereNPV Net present valueOBS Organization breakdown structurePCI Percent complete indexPCI-B Percent complete index-budget costsPCI-C Percent complete index-actual costsPDM Precedence diagram methodPERT Project evaluation review techniquePMO Project management officePV Price varianceRM Responsibility matrixSPI Schedule performance indexSV Schedule varianceTF Total floatUV Usage varianceVAC Variance at completionWBS Work breakdown structure Acronyms

  8. Definition Planning Execution Delivery Level of effort 1. Goals2. Specifications3. Tasks4. Responsibilities5. Teams 1. Schedules2. Budgets3. Resources4. Risks5. Staffing 1. Status reports2. Changes3. Quality4. Forecasts 1. Train customer2. Transfer documents3. Release resources4. Reassign staff5. Lessons learned Project Management Life Cycle

  9. The Age of Project Management Project Management Compression of productlifecycle Corporate downsizing Increased customer focus Global competition Rapid development of thirdworld and closed economies Knowledge explosion Small projects represent big problems

  10. Customer Environmental analysis External Internal Firmmission, goals, strategies Priorities Projects Environmentand Culture System Scope Organization Work Breakdown Leadership Networks Teams Resources Cost Partners Project Implementation Integrated Management of Projects

  11. Capability Maturity Model (CMM)

  12. Sociocultural LeadershipProblem solvingTeamworkNegotiationPoliticsCustomer expectations Technical ScopeWBSSchedulesResource allocationBaseline budgetsStatus reports The Technological and SocioculturalDimensions of the Project Management Process

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