Get the plugin now. Help Preferences Sign up Log in. Project Management - PowerPoint PPT Presentation. The presentation will start after a short 15 second video ad from one of our sponsors. Project Management MBA Winter Professor Nicholas G. Hall Department of Management Sciences Fisher College of Business The Ohio State University — PowerPoint PPT presentation.

Project Management 1 Project Management MBA Winter Professor Nicholas G. Emerging applications, especially IT implementations, are often managed as projects. More managers are using a project format to motivate many different activities. Project management skills are useful in both manufacturing and service sectors.

PMI professionals come from virtually every major industry PMI offers a valuable certification program, Project Management Professional PMP. It also publishes Project Management Journal, a valuable source of practical research that is available through OSU Library e-journals. Project Management Tools and Tradeoffs, Wiley, Hoboken, NJ, Other Useful Sources Brooks, F. Addison-Wesley, Reading, MA, The North River Press, Great Barrington, MA, A Guide to the Project Management Body of Knowledge PMBOK GuidePMI, Newton Square, PA, Strategic Planning for Project Management Using a Project Management Maturity Model, Wiley, New York, NY, Microsoft Project for Dummies, Wiley, Indianapolis, IN, Gantt added an important visualization tool around with the Gantt Chart In the late s, DuPont Company developed the Critical Path Method CPM Also in the late s, Booz Allen Hamilton developed the Program Evaluation and Review Technique PERTwhich models uncertainty in project management 12 Importance of Project Management Project management effectively controls organizational change, allowing organizations to introduce new products, new processes, and new programs effectively.

Projects are becoming more complex, making them more difficult to control without a formal management structure.

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Projects with substantially different characteristics, especially in IT, are emerging. Project management helps cross-functional teams to become more effective. Richard Pharro, author and consultant Still, many organizations underappreciate the contributions made by their project managers. A project is a temporary endeavor undertaken to create a unique product or service.

PMBOK, A project is a well-defined set of tasks or activities that must all be completed in order to meet the projects goals. Two prevalent characteristics Each task may be started or stopped independently of other tasks Tasks are ordered such that they must be performed in a technological sequence.

Job Shop A product or service only flows through centers which are required to create it. Bringing Discipline to Project Management. See coursepack article Oltra, Maroto and Segura 19 Lean Principles in Project Management Focusing on customer needs Balancing work to ensure an even flow Using customer pull rather than supplier push to initiate work Using principles of continuous improvement See coursepack article Brown et al.

Fischer Question Was the movie Titanic successful? See coursepack article The Chaos Report 21 Nine Factors Critical to the Success of Many Projects Clearly defined goals Competent project manager Top management support Competent project team members Sufficient resource allocation Adequate communication channels Effective control mechanisms Use of feedback for improvement Responsiveness to clients J.

Slevin See coursepack article Czuchry and Yasin 22 Famous Project Failures InWestpac Banking Corporation initiated a 5-year, 85m project to improve its information system. Three years later, after spending m with nothing to show for it, they cancelled the project and eliminated development jobs. The computerized baggage handling system at the Denver International Airport delayed the opening of the airport from March to February and added 85 million to the original budget.

The baggage system continued to unload bags even though they were jammed on the conveyor belt. The system also loaded bags into telecarts that were already full. Hence, some bags fell onto the tracks, causing the telecarts to jam. The timing between the conveyor belts and the moving telecarts was not properly synchronized, causing bags to fall between the conveyor belt and the telecarts. Then the bags became wedged under the telecarts, which were bumping into each other near the load point.

Disney's shipbuilder was six months late in delivering its new cruise ships in Thousands of Disney customers who had purchased tickets had to be compensated for making different plans. InUniversal Studios in Orlando, Florida, built a new restaurant and entertainment complex, a two year project.

The opening was delayed by three months. The Big Dig road construction project in Boston was budgeted at 5. The project resulted in criminal arrests, thousands of water leaks, death of a motorist from a tunnel collapse, and hundreds of millions of dollars in lawsuits.

InUK grocery chain J. Sainsbury wrote off its m investment in an automated supply chain management system. They hired additional workers to stock their shelves manually.

IT project management is an million industry and is expected to grow by as much as 20 percent per year. Gene Bounds, The Last Word on Project Management, IIE Solutions, In an IT project, you go from zero to percent in the last second--unlike building a brick wall where you can see when youre halfway done. Vowler Engineering projects are measured by tasks completed Example building construction IT projects are measured by resources used Example software development 28 IT Project Outcomes Standish Group Survey, Why are IT projects more difficult?

Sign in local copy center. Once the initial level of maturity and areas for improvement are identified, the PMMM outlines the steps to take toward project management excellence PMMM is based on extensive empirical research that defines a best practice database, as well as a plan for improving the project management process 34 Project Management Maturity Model 1. Ad-Hoc The project management process is disorganized or even chaotic.

Systems and processes are not defined. Chronic cost and schedule problems exist. Abbreviated Some project management processes exist, but underlying principles are not consistently followed. Project success is largely unpredictable. Cost and schedule problems are common. Organized Project management processes and systems are documented and and integrated. Project success rates, and cost and schedule performance, are improved.

Managed Projects are effectively controlled by management. Project success is usually routine. Cost and schedule performance usually conform to plan. Adaptive Continuous improvement of the project management process occurs through feedback and testing of innovative ideas and technologies. Project success rates, and cost and schedule performance, are continuously improving.

Source The Project Management Institute PM Network Micro Frame Technologies, Inc. Research and Technology Management. Good project selection makes the later job of running projects much easier. Also, some poorly selected projects are doomed from the start. Strategic factors Competitive necessity keep a foothold in the market, not get left behind Market expansion opportunities not yet profitable, but need to establish a presence Consistency in line with overall organizations mission statement Image potential impact of project on corporate image 40 Project Selection - Overview 2.

Project portfolio factors Diversification reduce market and other risks by maintaining a mix of projects Cash flow constraints balance available cash over time and across projects Resource constraints plan available resources facility, personnel over time 41 Analyzing Project Portfolios Bubble Diagram Shapes Shading Color Size Bubble diagrams are useful for representing a set of projects and visualizing a project portfolio.

Clark,Creating Project Plans to Focus, Harvard Business Review 43 Project Selection - Overview 3. Project risk factors Probability of research being successful Probability of development being successful Probability of project success w.

Ignores the time value of money, including interest rates and inflation. Ignores money earned after the payback period. Phase II Market Development 10 million annual expenditure for 2 years to develop marketing and distribution channels. Phase III Sales All cash flows are after-tax and occur at year's end. Consequently, the use of the same discount rate may be binary options trading brokers account no deposit bonus. However, its not clear what other discount rate should be used.

Thats where the idea of real options analysis can possibly help.

Chapter 4 corporate level strategies

Implicitly finds the correct discount rate by expressing the cash flows in the project as a combination of flows whose cost of capital is supposedly known. In principle, this should give more accurate evaluation of projects than ECV. However, the usefulness of real options analysis for evaluating projects is unclear. But they mainly use it for procurement and other low risk, contract-protected decisions, not to evaluate projects.

Real options analysis is probably not useful in high risk industries, such as pharmaceuticals. Real options analysis may also not be useful if a company lacks the discipline to end a project without delay if the initial investment doesnt work out.

Real options author N. Kulatilaka says, Although you can make any project look good if you build in enough options, a real world approach must address two questions when exactly do you shut it down, and is there a good mechanism in sight to do that? See coursepack article Hall et al. Project overview and organization Summary statement, work breakdown structure, organization plan, subcontracting plan 2. Project scheduling Time and schedule, budget, resource allocation plan 3.

Project monitoring and control Cost control system, contingency plans 4. Project termination Evaluation, benchmarking and archiving 68 Work Breakdown Structure WBS Specifies the end-item deliverables Divides the work, reducing the dollars and complexity with each additional division Stop dividing when the tasks are manageable work packages, which will depend on Skill levels of group s involved Managerial responsibility Length of time Value of task Rules of thumb for tasks small enough for estimation, large enough for measurability For example, the Apollo moon landing project corporate level strategy diversification ppt aboutquestrade currency exchange fee 69 Common Problem in WBS Design The usual mistake PMs gta v online stock market guide is to lay out too many tasks subdividing the major achievements into smaller and smaller subtasks until the work breakdown structure WBS is a to do list of one-hour chores This springs from the screwy logic that a project managers job is to walk around capital option binary trading a checklist of 17, items and tick each item off as people complete them.

The Hampton Group 70 Two-Level WBS WBS level 1 1. Sandbagging often results from poorly aligned incentives. If project workers will incur a penalty for missing a standard task time, but no benefit from completing the task earlier, then the natural tendency is to inflate the standard task time. A common problem in projects is that sandbagging and other slack proliferate.

Time to market is smaller in the overlapped design But the schedule is more vulnerable which requires additional monitoring Can add further resources to tasks to reduce duration--but costs are increased 76 Chapter Project Teams and Steps to make money with clickbank Relationships 77 Role of Project Manager and Team Trader buys call option strike price Top Management Project Manager Subcontractors Project Team Functional Managers Regulating Organizations This structure is what makes being a project manager both very interesting and very challenging!

Wilemon, 81 Artistic Viewpoint I design user interfaces to please an audience of one. I write them for me. If Im happy, I know some cool people will like it As for schedules, Im not interested in schedules did anyone care when War and Peace came out? Developer, Microsoft Corporation As reported by MacCormack and Herman, HBR Case Microsoft Office However, is this comment a reasonable one for most project management environments? Two schools of thought Humanistic school -- groups that have positive characteristics will perform well Task oriented school -- positive group harmony detracts from group performance 83 Group Harmony and Project Dt daily forex report Experiment conducted with MBA students at U.

Project Management Performance A Comparison of Team Characteristics, IEEE Transactions on Engineering Management, 37, 2, How much autonomy and authority should be given to the project? What management practices and systems should be used to manage the project, and how should they differ from those used in the existing organization? This minimizes interdependencies between the project and the rest of the organization.

Project Integrated into Existing Structure When an organization undertakes a stock trading course in delhi project, strong pressures favor the integration of the project into the existing structure and management systems and practices. But, what is the overall company objective? Functional The project is divided, and assigned to appropriate functional departments.

The coordination of the project is carried out by functional and high-level managers. Functional matrix A manager is designated to oversee the project across different functional areas. Balanced matrix A manager is assigned to oversee the project, and interacts on an equal basis with functional managers.

Project matrix A manager is assigned to oversee the project as an independent entity, and is responsible for the completion of the project. There may be a project team, but part time. Project team A manager is put in charge of a team drawn from several functional areas who are assigned to the project full time. This is it true about binary options gambling provides useful structure and guidance to the process of determining an appropriate level of autonomy.

But this model is definitely NOT AN ALGORITHM! Thus, the same inputs can lead to different outcomes, based on judgment and interpretation.

This model is corporate level strategy diversification ppt from Organizational Choices for Project ManagementB. Menard Decision Model Step 1.

Evaluate the way in which the organization reacts to a new project. Evaluate the project itself. Aami insurance work from home the information from Steps 1 and 2, make a subjective judgment about the desired level of autonomy in the new project.

For example, average the Step 1 and Step 2 numbers. Identify to what extent the desired level of autonomy from Step 3 is compatible with the current management culture which is identified on the following page. Based on the information from Steps 3 and 4, and the relative importance of the project to the organization, make a decision about the appropriate level of autonomy for the project.

The numbers from Steps 3 and 4 inform that decision, but should not dominate it. Strong need for innovation control system of a large and complex distribution network needs to be replaced.

Members of the project team participated in the design of existing control system in the s, but the new system is very complex and state of the art. The project impacts many users who have to be involved in design and implementation.

Industry in turmoil inability to terminate contracts, bankruptcies, Decision Model Control System Project cont. Project is very politically sensitive, because of the visibility the press has given to the shortcomings of the present system. Cost issues are not critical, but they receive close attention from top management. Medium stability of resource loading the level of internal resources assigned to the project varies from phase to phase, but the most critical resources will be with the project throughout.

Budget allocation and expenditures are tightly controlled by the overall organization. The accuracy of the financial reporting system is low poor control system, forex canada rates potential for human error.

But, were these the most successful organizations? What type of bidding process will be used? What type of contract? Should you use a separate request for bids for each task or use one for all tasks? What is the impact of subcontracting on the expected duration of the project? Should you offer incentives, such as a bonus for finishing early? Or require penalties for finishing late?

01 Corporate Level Strategy

How does subcontracting impact risk? Finish-to-start FS a Task B cannot start until a days after task A is finished Start-to-start SS a Task B cannot start until a days after task A has started Finish-to-finish FF a Task B cannot finish until a days after task A is finished Start-to-finish SF a Task B cannot finish until a days after task A has started The most common precedence network has FS 0.

This can always be achieved artificially, where necessary. Activities along the critical path are called Critical Activities. Work ES calculations forward. Work LF calculations backward. Task B 3 months ESStart 0 LFStart 0 Task A 7 months ESEnd 11 LFEnd 11 Task C 11 months ESC 0 LFC 11 ESj Earliest starting time for task milestone j LFj Latest finish time for task milestone j Example 1 Network Paths and Lengths There may be more than one critical path, but there must be at least one Critical paths can be found easily using CPM as in MS Projectlinear programming or other optimization methods Critical Activities Implications Activity j is a critical activity if LFj ESj tj Any activity on a critical path is a critical activity A delay to a critical activity causes a delay to the completion of the entire project Therefore, critical activities require particularly efficient execution, so they often receive more and better resources and closer monitoring Critical chain project management Goldratt, treats a critical path in a project similarly to a bottleneck in a manufacturing process CPM Example 2 AON Network Example 2 Network Paths and Lengths Thus, START-A-D-F-END is a critical path.

Run any model for example, CPM that minimizes the project duration. Call the duration of the project ENDTIME. Work TE calculations forward Step 3. Work TL calculations backward TE12 TL12 Step 2.

Strategic human resource management

These vary with task duration. Material costs reflect the cost of acquiring materials needed to complete work. These vary with project scope. Overhead costs administrative costs allocated to support the project, and usually not attributable to any specific task. These vary with project duration. What is the best ordering policy? What are some methods for crashing? Some practical models minimize total of overhead, indirect, direct and penalty costs minimize project duration subject to a budget for direct cost.

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Project Management Lessons Learned - Groundhog Day. The value of Lessons Learned to achieve Continuous Improvement Essential Soft Skills for the Project Manager - The collection of personality traits, social graces, facility with language, Look at potential causes. Project Management - Corporate procurement strategy: Concurrent contracts will my contract take a back seat to existing work?

IT Project Status Reporting - Better skilled project managers with better management processes are being used. Project team lacks the skills to complete this project. Project team is too large Name Functional Areas of Integrated Workplace Management Systems IWMS - To properly manage costs, businesses can invest in Integrated Workplace Management Systems IWMS.

Functional areas in these are lease management, environmental sustainability, real estate management, project Management, etc. Project Kick Off Meeting - Project Name. Kick off meeting purpose Concepts of Management The terms management has been SilkCentral Test Manager 8. Reporting with Test Manager Successfully Managing Customer Expectations - Successfully Managing Customer Expectations Helps provide a truer picture of the project.

When should Project Change. Test Management in JIRA using Zephyr - JIRA is popular among project managers, developers and QA experts for its project management capabilities and issue-tracking features.

Advanced Techniques for Managing Distributed Agile Teams - Managing one team with people in different locations is a challenge. But what happens when you have multiple teams in multiple locations working together? How to implement Scrum for large-scale development efforts where projects can involve hundreds of developers and take months or even years to complete? There are some advanced and proven techniques that help you succeed in your large-scale Agile projects.

Once again Belatrix13 invites the Agile expert, Hubert Smits to share those techniques, ideas and best practices based on his broad experience. Also, true case studies will illustrate the approach. Event management - This is a event management project show to manage different events for different occasions.

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