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Stage 4: Termination and Closure

Stage 4: Termination and Closure. April 30, 2003. Complete Testing. Testing should constitute 30-45% of any new product development project Module and regression testing were completed in the previous stage Just the final system test and acceptance testing is done here.

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Stage 4: Termination and Closure

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  1. Stage 4: Termination and Closure April 30, 2003

  2. Complete Testing • Testing should constitute 30-45% of any new product development project • Module and regression testing were completed in the previous stage • Just the final system test and acceptance testing is done here

  3. Obtain signature Signoffs • From customer • From stakeholders

  4. Get paid • Contractually, you need some legally binding arrangement that legally obligates the customer to pay

  5. Contract types • Fixed price • Contractor assumes all of the risk • Contract must produce a specific deliverable within a specific time for a specific price • Cost Reimbursement • Also known as “Cost Plus” • These are the extremes • There are many possibilities between these two

  6. Cost Reimbursable Contracts • Cost plus incentive fee (CPIF): the buyer pays the seller for allowable performance costs plus a predetermined fee and an incentive bonus • Cost plus fixed fee (CPFF): the buyer pays the seller for allowable performance costs plus a fixed fee payment usually based on a percentage of estimated costs

  7. Cost Reimbursable Contracts • Cost plus percentage of costs (CPPC): the buyer pays the seller for allowable performance costs plus a predetermined percentage based on total costs

  8. Time and Material Contracts • Commonplace in information technology • Are a hybrid of fixed price and cost reimbursable contracts • Contractor is reimbursed for specific performance (time), and for his material costs

  9. Contract Types Versus Risk

  10. Statement of Work (SOW) • A statement of work is a description of the work required for the procurement • Many contracts, or other mutually binding agreements, include SOWs • A good SOW gives bidders a better understanding of the buyer’s expectations

  11. Statement of Work (SOW) Template

  12. Sell the next project to the Customer • Especially if the previous contract was a fixed price one • And, there was a lot of “Wouldn’t it be really neat ifs…” after the project began execution

  13. Hold formal-post project meeting (Post-Mortem) • Discuss what went well • Discuss what went not so well • Discuss what could be improved

  14. Document Lessons Learned • How could we have managed better? • What would we do next time?

  15. Populate history database • For task durations, especially • Or, to be used to verify task durations

  16. Notes on shortening project durations • This must be done in the Planning and Budgeting stage • Crashing • Reducing the duration of tasks on the critical path • Fast-tracking • Starting tasks sooner • Adding resources • Checking for parallelism opportunities in the schedule • Removing Safety

  17. More techniques for shortening projects • Scrub the requirements • Remove from the requirements those items that add little or no value • Remember the Pareto principle—80% of the value comes from 20% of the functionality

  18. That’s IT folks!!

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