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CHAPTER 15: PROJECT MANAGEMENT - Coggle Diagram
CHAPTER 15: PROJECT MANAGEMENT
The triple constraint
Scope (deliverables), Time, Cost
Project initiation
Project manager
Project sponsor
is not involved in the day-to-day activities of the project
appoint the project manager
Initiating tasks (carried out by project manager)
Business case
Give the go ahead
WHY project is needed?
WHAT it will achieve?
HOW it will proceed?
Will include:
-Description of current information/issues
-Analysis of costs and benefits
-Impact of project on org
-Risk
-Recommendations
Project initiation document OR Project charter
to get authorisation
-Purpose and objectives
-Authorisation by the main stakeholders
Project costs and benefits
Benefits (5 key stages)
Measuring benefits
-Observable (measured by experience or judgement) E.g staff morale
-Measurable
-Quantifiable (can be reliably forecast)
-Financial (quantified benefits) e.g cost or price
Cost
Cost-benefit evaluation
-ARR (Accounting rate of return)
-Payback period
-Net present value
-Internal rate of return
Project planning
Planning tools
Workbook breakdown structure (WBS)
-Analysis of work to complete project
-Allows project manager to consider outputs (or deliverables)
Project budget
Method: top down budgeting (imposed from above)
bottom-up budgeting (project manager consults project team)
Gantt charts
-Shows deployment of resources over time
Network analysis (OR critical path analysis)
-Ensure progress of a project so project completed in minimun amount of time
Resource histogram
-shows resource req, usage and availability against a time scale
Project execution and control
Techniques used by project manager to control project
Gateways (certain criteria must be met before project can pass to next stage)
-to prevent
scope creep
(uncontrolled changes in project)
Progress reports (to current status of the project)
Project slippage (project is running behind schedule)
Responding to project risk
Stage 1: Plan risk-management approach
Stage 2: Identify and record risks
Stage 3: Assess the risks (probability/likelihood, consequences)
Stage 4: Plan and record risk responses (TARA)
Stage 5: Implement risk-management strategies
Stage 6: Review risk-management approach and actions for adequacy
Project completion
Post-implementation reviews
Post-project review