Module 3 Plan The Project

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LESSON 3
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PLAN THE
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PROJECT
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• Planning Projects
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• Scope
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• Schedule
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• Resources
• Budget D
• Risks
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• Quality
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• Integrate Plans
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Version 3.1 | 2023 Release Copyright 2023 Project Management Institute, Inc. All rights reserved.
Copyright 2023© Project
This material is beingManagement Institute,
provided as part Inc. Workshop.
of a PMI All rights reserved. 1
This material is being provided as part of a PMI® course.
Licensed For Use Only By: Mushunoori Bharani Krishna Murthy 6781292 Jul 2 2023 3:45AM
Learning Objectives
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• Explain the importance of a project management plan.
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• Provide an overview of scope planning in both predictive and adaptive projects.
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• Provide an overview of schedule planning in both predictive and adaptive projects.
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• Discuss resource planning for a project, including human and physical resources and the
role of procurement.
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• Determine the budgeting structure/method for a project
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• Explain the importance of tailoring a budget.
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• Identify strategies for dealing with risks and risk planning.
• Assemble a toolkit of possible responses to risks.
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• Define quality and how it relates to the outcomes and deliveries for a project.
ot
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• Discuss the importance of integrating project management plans and tailoring a change
management process.
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Copyright 2023© Project Management Institute, Inc. All rights reserved.

2
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Planning Projects
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TOPIC A
lic
up
D
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N
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Planning Starts with a
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Project Management Plan
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Enables project managers to ....
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• Execute
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The document that describes how the • Monitor
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project will be executed, monitored and
• Control
or
controlled, and closed.
• Close
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It includes:
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• Subsidiary plans
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• Baselines
• Establishes guardrails to maintain controls,
• Additional components
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so ....
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act quickly and flexibly!
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N
*See definition tab for list

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4
Project
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Documents*
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Documentation and content created by the team to plan and manage the
project effectively
or
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Some documents are project artifacts, which need to be maintained and
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then archived at the end of the project.
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They are not components of the project management plan.
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*See definition tab for list

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Collaborative
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Planning
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Product owner decides objectives according to customer
Adaptive and needs/wants; team executes work and helps product
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Hybrid owner plan the work
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Development
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Approaches
or
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Team members are local domain experts in integration
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management — how work will be planned and
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completed
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Project manager, team lead or scrum master helps focus
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the team to execute the planned work

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6
Planning Across Life Cycles
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Predictive Hybrid Adaptive
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Requirements Defined in specific terms Elaborated periodically Elaborated frequently
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specification before development during delivery during delivery
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Delivered after each
Delivered at the end of the Can be divided into pieces
Outcome(s) iteration according to
or
project (incremental)
stakeholder-desired value
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Constrained as much as Incorporated at periodic Incorporated in real time
Change
possible intervals during delivery
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up
Stakeholder
At specific milestones Regularly Continuously
Involvement D
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Through detailed planning
Risk and cost Through progressive Done as requirements and
of mostly known
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controls elaboration of plans constraints emerge

consideration
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Topic Coverage
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or
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Differentiation of planning in predictive and
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adaptive approaches
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8
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Scope
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TOPIC B
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Scope Click me!
PROJECT
SCOPE
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• Project scope or product
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PRODUCT
SCOPE
scope?
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• Is it fixed or flexible?
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or
FIXED
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FLEXIBLE
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Let’s use the Shawpe Lifestyle Centre
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project—the independent case study
part of this course—to understand these
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terms better.
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Adaptability and
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Resilience in Planning
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Rolling Wave Planning
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• A form of progressive elaboration
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applied to work packages, planning
packages and release planning
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• Used in adaptive or predictive
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approaches
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up
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N
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11
MVP or MBI?
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Planning for
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Work
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Incrementally
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or
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up
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N
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Product Roadmap*
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• nvisions and plans the “big picture”
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• Displays product strategy and direction
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and the value to be delivered
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• Leads with the overarching product
vision and uses progressive elaboration
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to refine vision
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• Uses themes (goals) to provide structure
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and associations
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• Provides short-term and long-term
visualization
up
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N
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Milestones*
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• Markers for big events, reviews, due
dates, payments or decision-making
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• Prompts for reporting requirements or
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sponsor/customer approval
• Created by project managers,
or
customers or both
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A milestone list identifies all milestones
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and indicates which are:
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• Mandatory - required by contract, or
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• Optional (estimated on historical
information) D
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N
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14
Scope Planning
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Comparison of Processes
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PRODUCT OWNER
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• Creates and refines release backlog for
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PROJECT MANAGER iteration planning meeting
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• Facilitates the Collect Requirements • Explains each prioritized user story in
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Process detail to the team
• Documents requirements in a:
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• Scope statement (text/document) TEAM
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• Work breakdown structure (WBS) – • Estimates effort required and creates the
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(visual) iteration baseline, selecting stories to meet
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the expected velocity for the iteration.
• Develops schedule, budget, resource and
• Places user stories from product backlog
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quality plans to deliver requirements
into release backlog to support identified
D features and functions
What might a hybrid scope • Uses a story map to sequence and
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planning process look like? prioritize user stories in the release

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backlog
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15
Get Started with Requirements?
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Does this kind of project start with requirements?
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Click each button!
or
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Sort of…
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Yes! Maybe!
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In predictive D User stories are Hybrid projects may
projects, a different way of elicit and refine
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requirements are thinking about the requirements or
elicited and set at requirements compose user
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the beginning of the process. stories.

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project.
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Requirements
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What Are They
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and Why Do We
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Need Them?
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• A requirement is one single measurable statement of a condition or
capability.
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• It tells how a product, service or result satisfies a business need.
or
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Guidelines for use:
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• Start at a high level before providing details
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• Must be unambiguous (measurable and testable), traceable,
D complete, consistent and acceptable to key stakeholders
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N
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Document Requirements
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• A simple format — e.g., a document
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listing all requirements, categorized
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by stakeholder and priority, OR
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• More elaborate — e.g., executive
summary, detailed descriptions,
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attachments
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• Requirements traceability matrix
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Requirements
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Management
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Plan
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• Configuration management activities:
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Plan, Track and • Version control rules
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Report on • Impact analysis - tracing, tracking and reporting
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Requirements
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• Required authorization levels for change approval
Activities
• Prioritization criteria/process
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• Product metrics and accompanying rationale
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• Traceability structure, including requirement attributes
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Types of Requirements
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Type Describes the...
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Project Actions, processes and conditions the project must meet
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Features and characteristics of the product, service or result that will meet the business
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and stakeholder requirements
Product • Functional – Product features
or
• Nonfunctional - Supplemental environmental conditions/qualities that make the product
effective
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Conditions or criteria needed to validate the successful completion of a project deliverable
Quality
or fulfilment of other project requirements
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Business Higher-level organizational needs, reasons for the project
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Stakeholder Stakeholder (or stakeholder group) needs —aka “ eporting requirements”
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Transition/
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Temporary capabilities needed to transition successfully to the desired future state
Readiness
N
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Collect
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Requirements • Expert Judgment • Data Analysis
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Process • Interpersonal/Team Skills • Document analysis
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• Nominal group technique • Alternatives analysis
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• Observation • Product analysis (if
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deliverable is a product)
• Facilitation
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• Decision-Making Techniques
• Data Gathering
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• Voting
• Brainstorming
• Multi-criteria decision
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• Interviews
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analysis
• Focus groups
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• Questionnaires and surveys • Data Representation
• Benchmarking • Mind mapping
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• Affinity diagram
D • Context or use case diagram
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• Prototyping — e.g.,
storyboarding
N
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This material is being provided as part of a PMI® course. 21
Scope Planning: How to Collect Requirements
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Interviews Questionnaires/Surveys Observations Focus Groups Facilitated Workshops
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• Identify/define • Sessions organized
• Casual/interactive
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features and • Written format by project managers
• Physical technique information-sharing
• Captures information
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functions of to determine
used learn about a • Moderator-guided
Characteristics deliverables from large groups requirements and
• Includes stakeholders
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specific job role,
• Can be structured, • Yields quantitative enable stakeholder
task or function and SMEs
unstructured or data agreement on project
or
• Yields qualitative data
asynchronous outcomes
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• Handles sensitive/ • Quick turnaround
• Pre-selected • Team can capture
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confidential • Effective with varied
participants for varied requirements
information and geographically • Team can
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opinions • Stakeholders can
• Helps identify dispersed understand where
Advantages • Small group for understand the
stakeholder respondents changes might be
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focused approach concerns and
requirements, • Yields quantifiable beneficial
and gathering specific requirements of
goals or D data for statistical
information others
expectations analysis
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• Time consuming • Must prequalify
Considerations • Captures only a
• Answer/ data quality stakeholders • Facilitation is
N
(potential single point of

drawbacks) depends on question • SMEs and facilitation essential
view
quality are essential
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Data
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Gathering
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Use Benchmarks to generate product requirements
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• Requires best practices to make comparisons
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• valuates and compares an organization’s or project’s practices
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with others
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• Identifies best practices in order to meet or exceed them
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• Can you remember the other methods for data gathering?
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• Why do you think benchmarking is effective in gathering data
D for scope planning?
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• Why would you choose it instead of the other methods?
N
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23
Scope Planning – Requirements Prioritization
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Tool or Technique Description Benefits
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Used to reach a common understanding with • Compares several points of view
stakeholders on the importance of each requirement. • Used with timeboxing to focus on the most
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They indicate: important requirements
MoSCoW Analysis • M - Must have • Common in agile software development, Scrum,
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developed by Dai Clegg • S - Should have RAD and DSDM
• C - Could have
or
• W - Won't have (for now)
Understand and classify all potential customer • Development efforts can then be prioritized by the
e
requirements or features into four categories of need: things that most influence customer satisfaction
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Kano Model • Delighters/exciters and loyalty.
(Product management technique) • Satisfiers
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developed by Noriaki Kano • Dissatisfiers
• Indifferent
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Paired Comparison Analysis Rate and rank alternatives by comparing one against • Good for small range of subjective requirements
developed by LL Thurston the other
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100 Points Method Vote for importance of requirements in a list; • Good for any size group, even large ones
stakeholders distribute 100 points in any way they • Gives priority to stakeholder decision- making
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(aka fixed sum or fixed allocation
method) wish ( ike “Monopoly money” method) because they must exercise depth of thought
N
developed by Dean Leffingwell and Don

Widrig
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24
Represent Data
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• Mind Mapping – Consolidate ideas
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created through individual brainstorming
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sessions into a single map to reflect
commonality and differences in
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understanding and to generate new
or
ideas
• Affinity Diagram – Allows large
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numbers of ideas to be classified for
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review and analysis
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up
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N
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Context Business Context Diagram Example
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Diagrams*
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GOVERNMENT PRIVATE SECTOR
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REQUEST FOR REQUEST FOR
FUNDING FUNDING FUNDING FUNDING
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or
HARDWARE, SOFTWARE
AND SUPPORT EDUCATIONAL
SERVICES
USER COMMUNITY UNIVERSITY INDUSTRY
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REQUEST FOR HARDWARE, REQUEST FOR
SOFTWARE AND SUPPORT EDUCATIONAL SERVICES
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REQUEST FOR EDUCATIONAL
EDUCATIONAL SERVICES
SERVICES
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EDUCATION
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COMMUNITY
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Prototyping
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• Evaluation and experimentation tool
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• Enables early feedback for further
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development and to develop a detailed
list of project requirements
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• Storyboarding is a type of prototyping
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that uses visuals or images to illustrate a
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process or represent a project outcome.
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up
D
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N
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27
Scope
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Management
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Plan*
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• Review of the scope activities for the project and how that work will be
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done
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• Should include processes to prepare a project scope statement
• Enables the creation of the WBS from the detailed project scope
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statement
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• Establishes how the scope baseline will be approved and maintained
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• Specifies how formal acceptance of the completed project deliverables
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will be obtained
• Can be formal or informal, broadly framed or highly detailed
D
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N
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Project Scope
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Statement
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Includes –
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• Scope description - project and product
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• Acceptance criteria
• Any required deliverables
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• Any out-of-scope items needed for clarification
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• Constraints and assumptions
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D Once it has been approved and baselined, changes are only
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permitted in accordance with the change management plan.
N
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29
Scope
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Planning
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Tools and Used to consider possible potential
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Techniques for Document options or approaches to execute and
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analysis perform project work
Analysis
D
or
Analyze the information needed to
Match the Alternatives
requirements develop the project scope statement or
e
analysis any technical detail
analysis
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tool/technique with
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the correct Derive new project requirements from
description. Product
existing documents
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analysis
D Ask questions about a product and form
Expert judgment
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answers to describe use, characteristics,
and other relevant aspects
N
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Product Analysis Methods
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PRODUCT BREAKDOWN REQUIREMENTS ANALYSIS
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Splits a product and its requirements into Identifies, validates and documents
components to achieve a clear understanding specifications for projects
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of work
or
VALUE ENGINEERING
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SYSTEMS ENGINEERING
Optimizes value in a structured way
at
Approaches design, integration, and
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management, and the life cycle of complex
systems in a multi-disciplinary way VALUE ANALYSIS
up
Examines factors affecting product/service
SYSTEMS ANALYSIS
D cost in a systematic, interdisciplinary way
towards success with the lowest cost and
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Studies a product /service to identify its goals required quality and reliability standards
and purposes and create systems/ procedures
N
to achieve them efficiently

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Create the Work Breakdown
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Structure (WBS)*
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Top of WBS
1.0
Project name or
Project Name
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primary deliverable
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• Follow the 100% rule!
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Management control point
1.1
• Include every aspect – nothing
D
Integrate scope, budget, and
Control Account
schedule to compare to EV
extra, nothing missing
or
• Include project and product components
e
• Use hierarchical structure 1.1.2
Works needed further plan
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Planning Package
• Highest – project schedule to compare to EV
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• Next – deliverables
• Lowest – work package
up
Planned works
1.1.1 1.1.2.1
Group scheduled and
D Work Package Work Package
estimated activities
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Each work package is
WBS code
N
part of only one financial (numbering system)

control account.
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Decompose
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Work in the
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Steps:
WBS
ib
1. Identify deliverables and the work/tasks needed to
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accomplish them
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2. Structure and organize the WBS
D
Divide and subdivide the 3. Decompose high-level WBS scope components into low-
project scope and
or
deliverables into smaller, level components
more manageable parts 4. Develop and assign a unique identification code to each
e
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component from the code of accounts
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5. Review the decomposition of work packages and verify that
they align with the project requirements
up
D
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Tailor the level of decomposition to specific project needs and
the level of granularity needed to manage the project effectively.
N
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WBS
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Dictionary
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Decompose work and include:
ib
• WBS code identifier
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Provides detailed • Description of work
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deliverable, activity • Assumptions and constraints
D
and scheduling
• Responsible organization
or
information about
each component in • Schedule milestones
e
the WBS • Associated schedule activities
at
• Resources required to complete the work
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• Cost estimations
up
• Quality requirements
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• Acceptance criteria
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• Technical references
N
• Agreement information
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Scope
e
Baseline
ut
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• Approved version of a scope statement, WBS and its associated WBS
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dictionary, that can be changed only using formal change control
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procedures
D
• Used as a basis for comparison to actual results
or
Components include:
e
at
•
lic
Project scope statement
• WBS
up
• Work packages
• Planning package
D
• WBS dictionary
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N
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D

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Don’t Forget
e
to Plan for Include activities to fulfill transition/implementation in the scope of work
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• Consider all stakeholders, schedules, risks, budgets, and quality
Transitions /
ib
standards.
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Handovers! • Identify deliverables/outputs
is
D
These can be delivered throughout the project, not just at the end!
or
e
Questions to consider:
at
• Will the work be new, or an update in the business
environment?
lic
• How best to transition the product into a live environment?
up
• What about decommissioning or removing old systems,
D processes or materials?
• Did you ensure training and knowledge transfer are
ot
complete/satisfactory?
N
How do adaptive or hybrid teams “plan” for handovers or

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transitions?
D

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Scope Planning in
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Adaptive Environments
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• Incremental or iterative development
D
• User stories propose an alternative way
or
of viewing the requirements process
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at
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up
D
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N
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Release and
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Iteration
ut
Collaborative planning meetings that break scope into larger
Planning
ib
releases and then iterations/sprints
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At release planning (or Agile release planning), decide:
Planning also takes
D
• Number of iterations or sprints needed to complete each
place at the standup
release
or
meeting when
teams discuss • Features contained in the release
e
details of work in • Goal dates of each release
at
progress.
lic
At iteration planning (or sprint planning):
• Review the highest prioritized user stories or key outcomes
up
• Ask questions
D
• Agree on effort required to complete the user story in the
current iteration
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• Determine the activities required to deliver iteration objectives

N
o
D

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Backlogs
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ut
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Example:
• Prioritized list of the
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known scope of A product owner creates a product backlog and identifies and adds
is
work stories in collaboration with the team and stakeholders. Work items
D
• Information presented describe desired product functionality through user stories.
or
in story form • The product owner is responsible for prioritizing work according to
• Continually updated value.
e
by the product
at
owner in • The product owner and team collaborate to move work items to the
lic
collaboration with iteration/sprint backlog.
teams
up
D Backlogs may be known by slightly different names on your team
or project, but the names are generally descriptive — e.g.,
ot
requirements backlog, sprint backlog, lean backlog.

N
o
D

39
User Stories, Story Maps,
e
Roadmaps
ut
ib
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• A story map organizes user stories into
is
functional groups and within a narrative
flow (“the big picture”) of the product
D
roadmap.
or
• Helpful for discovering, envisioning and
prioritizing the product and a way ahead!
e
at
- Story map technique developed by Jeff Patton
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up
D
ot
N
o
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40
Epics > Features > User Stories
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JANUARY DECEMBER
ib
EPIC
EPIC
tr
a major deliverable
is
D
or
FEATURE FEATURE
Delivers a capability that Groups related
e
functionality together
at
can be estimated, tracked
USER STORY
and managed as a set to deliver value
lic
up
D
FEATURE
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Includes activities and efforts such as documentation,

N
bug fixes, testing and quality/defect repairs

o
D

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Prioritize and
e
Refine the
ut
Backlog
ib
tr
is
D
• Continual refinement done by product owner/customer prior to iteration
or
planning
• Additional refinement can be done jointly by the team and product
e
at
owner during the sprint/iteration
lic
• Allows reorganization and reprioritization of work to complete higher-
priority items that deliver value first
up
• Split epics into user stories
D
ot
N
o
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42
Plan Scope: Quiz
e
ut
Which two stakeholders perform
ib
project scope planning? (Choose two)
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a. Ang Fen, project manager
is
b. Helen Grey, product owner
D
c. Eugene Lowe, project sponsor
or
d. Project team
e
at
Ang Fen wants to give the executive
lic
team an overview of the work ahead at
up
the next strategy meeting. Which
artifact should he show them?
D
a. Scope management plan
ot
b. Product roadmap
N
c. Scope statement
d. Work breakdown structure
o
D

43
ECO Coverage
e
ut
ib
2.1 Execute project with the urgency
tr
required to deliver business value
is
• Support the team to subdivide Project
tasks as necessary to find the minimum
D
viable product (2.1.3)
or
2.8 Plan and manage scope
• Predictive vs Adaptive approach for
e
scope
at
• Determine and prioritize requirements
lic
(2.8.1)
• Break down scope (e.g., WBS, backlog)
up
(2.8.2)
D
2.17 Plan and manage project/phase closure
or transitions
ot
• Determine criteria to successfully close

N
the project or phase (2.17.1)

o
D
44
e
ut
ib
tr
is
D
or
Schedule
e
at
TOPIC C
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up
D
ot
N
o
D
45
Get from “A” to “B”
e
Overview of Schedule Planning Processes
ut
ib
tr
is
The project manager ensures that: The project team:
D
• Work package is broken down into • Uses either a time boxed (cadences)
or
required activities or continuous flow method
e
• Dependencies and precedence • Adopts release time frames
at
relationships are determined
• Plans each iteration with work
lic
• Activity durations are estimated based
• Prioritizes, estimates and decomposes
on average resources
up
user stories into tasks and determines
• Critical path is determined
D iteration velocity
• Resource overallocations are resolved • Works with product owner to refine the
ot
backlog after each iteration and plan

• Schedule is compressed to meet any
N
the next
constraints
o
D

46
Schedule
e
Management
ut
Plan*
ib
tr
is
• Describes how activities will be defined and progressively elaborated
D
• Identifies scheduling method and scheduling tool used
or
• Determines schedule format
• Establishes criteria for developing and controlling the schedule
e
at
• May be tailored for use in any type of project
lic
• Defines the maintenance process for updating status and records
project progress in the schedule model during execution
up
D In hybrid approaches, a schedule management plan can help
ot
by placing management controls on the project time line.
N
o
D

47
Schedule • Methodology/tool for schedule development
e
Project schedule
• Includes maintenance planning, including status updates and
Management
ut
model
progress during execution
Plan
ib
• Acceptable range used to determine realistic activity duration
tr
Components Accuracy estimates
is
• May include risk contingency
D
Units of
Defined for each resource – e.g., staff hours, days and weeks
measure
or
Organizational
Use of WBS to ensure consistency with estimates and schedules
e
procedural links
at
• For monitoring schedule performance before taking action – e.g.,
lic
Discuss how the Control escalation/reviews
schedule management thresholds • Expressed as percentage deviations from the baseline — e.g.,
up
percent ahead or behind schedule
plan can be a beneficial
tool in hybrid projects. D Performance measurement — e.g., earned value management (EVM)
Rules
Who would it benefit? rules
ot
Reporting Frequency and formats for schedule-related reports
N
Process
Describes how schedule management processes are documented
descriptions
o
D

48
Start with Benchmarks
e
and Historical Data
ut
ib
tr
is
Benchmarking
D
• Compares current project schedule with
a similar product/service schedule
or
• Provides a good “starting point” for
e
estimation before detailed analysis
at
• Assesses feasibility in the initial stage of
lic
scheduling
up
Historical data D
Learn lessons from completed projects in
ot
the organization
N
o
D

Copyright2023©
49
Hybrid
e
Schedules
ut
ib
Example
tr
Characteristics
is
and Benefits • Tailored plans to combine consistency and management oversight with
D
flexible scheduling of work
or
e
• Better product/deliverable quality with incremental or short-term value
at
delivery and change (improvements, fixes) incorporated at intervals
lic
up
• Product delivery can be divided into subsets according to a plan
(milestone or cadence)
D
ot
N
o
D

50
Predictive
e
Schedule
ut
Planning
ib
tr
is
The project manager:
D
• Breaks down a work package into the required activities
or
• Determines dependencies and precedence relationships
e
• Estimates the duration of activities based on average resources
at
• Determines the critical path
lic
• Resolves resource overallocations
up
• Compresses the schedule, if needed, to meet constraints
D
ot
N
o
D

51
Break Down Project 1.0
Top of WBS
e
Project name or
Project Name
Activities*
ut
primary deliverable
ib
tr
Management control point
• Break down project work packages into 1.1
is
activities (noun) Control Account
•
D
Enter activities into the activity list using a
verb statement
or
Works needed further plan
• Use the activity list to develop the project 1.1.2
schedule Planning Package
e
•
at
Include duration (start and end day) for every
activity
lic
Planned works
1.1.1 1.1.2.1
Group scheduled and
Work Package Work Package
up
estimated activities
D
Tailor the amount of detail in Code of accounts
ot
activities to the project (numbering system)
context to enable meaningful
N
estimation and planning.

o
D

52
Activity
e
Dependency DEPENDENCY TYPES
ut
Types
ib
Meaning Action by Project Manager
tr
is
Contractually required or
Must schedule it — No way
Mandatory inherent in the nature of
D
around this sequence
the work
or
Established because of Can be modified as needed,
best practices or a if replaceable with a better
e
Discretionary
at
specific sequence is sequence, or if schedule
desired compression is required
lic
Activities performed
up
External outside the project team’s Limited or no control
D work
In project work,
ot
Internal Has control
contingent on inputs
N
o
D

53
Precedence
e
ARROW INDICATES WHICH
Relationships
ut
DRIVES THE OTHER
ib
CONFIRM KEY STAKEHOLDER ERECT SIGNAGE WITH
tr
• Activity dependencies AND CUSTOMER CUSTOMER BRANDING
is
determine ATTENDANCE
D
precedence
or
relationships (aka Start Finish Start Finish
logical relationships)
e
and the order in which Predecessor (Driver) Successor (Driven)
at
activities are
lic
performed
• Show these using the
up
precedence D
diagramming • Precedence indicates which activity drives the relationship
method (PDM) • Predecessor usually occurs earlier in time than successor
ot
N
o
D

54
Types of Precedence Relationships
e
ut
Finish to Start
1
ib
(FS)
tr
ACTIVITY A ACTIVITY E
is
A. Obtain occupancy permit
from Oasestown building
D
Finish to Finish
department 3 Start to Start (SS) 2 (FF)
or
B. Confirm tour guide
e
ACTIVITY C ACTIVITY D
C. Confirm key stakeholder
at
and customer attendance
lic
ACTIVITY F ACTIVITY E
D. Complete landscaping
up
and decoration
E. Identify finished spaces D 4 Start to Finish
(SF)
for the tour
ot
F. Erect signage with ACTIVITY D ACTIVITY F

N
customer branding
o
D

55
Lags and Leads in Precedence Relationships
e
ut
Finish to Start
1
ib
(FS)
Add lead and lag times of up to
tr
ACTIVITY A ACTIVITY E
2 weeks to activities
is
Document activities and related
D
3 Start to Start (SS)
assumptions A. Obtain occupancy permit from
or
Oasestown building department
e
ACTIVITY C B. Confirm tour guide
at
C. Confirm key stakeholder and
lic
ACTIVITY F customer attendance
up
D. Complete landscaping and
decoration
D E. Identify finished spaces for the tour
ot
Leads and lags do not have a value, so do F. Erect signage with customer branding
not include them in duration estimates.
N
o
D

56
Activity
e
Duration
ut
Estimate
ib
tr
Terminology Activity Duration Estimate
is
• The quantitative assessment of the likely number of time periods
required to complete an activity
D
or
Elapsed time
e
• The actual calendar time required for an activity from start to finish
at
lic
Effort
up
• The number of labor units required to complete a scheduled activity or
WBS component, often expressed in hours, days, or weeks; contrast
D
with duration
ot
N
o
D

57
Estimating Techniques
e
ut
ib
• Less costly and time
• Uses historical data from a similar activity or • May be inaccurate,
consuming
tr
Analogous project to estimate duration (or cost)
• Used when project
depending on quality of
• aka “top-down estimating.”
is
historical information
information is limited
D
• Uses an algorithm to calculate duration (or • Does not account for a
• Can produce higher levels
cost) based on historical data and project learning curve — i.e., work
or
of accuracy depending on
parameters. gets easier as team
Parametric • Durations can be quantitatively determined
sophistication of data from
becomes more expert
model
e
— multiply quantity of work to be performed • Uniform units of work are
• Scalable and linear
at
by the number of labor hours per unit of work not typical in projects
lic
• Defines an approximate range of an activity’s • May improve accuracy of
• Requires detailed resource
duration, using most likely, optimistic, and single-point estimations by
up
information
Three-Point pessimistic estimates including risk and
• Requires expert knowledge
• Used when historical data is insufficient, or uncertainty factors
D to estimate tasks
subjective
ot
• May be very time
• Very accurate and gives
• Uses aggregates of the estimates of the consuming
N
Bottom-up lower-level managers more

lower level components of the WBS
responsibility • Can be used only after the
WBS has been well defined
o
D

58
Three-Point Estimation PERT is based on a probability distribution;
e
Examples therefore, we can calculate a standard
ut
deviation:
ib
(P - O) / 6 = PERT Standard Deviation
tr
is
Triangular Distribution (average) BETA Distribution (PERT average)
D
or
FORMULA FORMULA
E = (O + M + P) / 3 E = (O + 4M + P) / 6
e
at
• Optimistic = 3 weeks
•
lic
• Most Likely = 5 weeks Optimistic estimate = 3 weeks
• Pessimistic = 10 weeks • Weighted most likely estimate = 5 weeks
up
• Pessimistic estimate = 10 weeks
EQUATION
D
EQUATION
ot
(3 + 5 + 10) / 3 = 6 weeks
[3 + 4 (5) + 10] / 6 = 5.5 weeks
N
o
D

59
Critical Path* ACTIVITY ACTIVITY
e
2 4
Method
ut
4 WEEKS 3 WEEKS
ib
tr
ACTIVITY 1 ACTIVITY 6
is
Sequence mandatory START FINISH
6 WEEKS 1 WEEK
critical path activities
D
to find the longest path
or
through a project and to ACTIVITY ACTIVITY
determine the shortest 3 5
e
5 WEEKS 4 WEEKS
possible project
at
duration and the
lic
amount of flexibility in
the schedule
up
1[6w] + 2[4w] + 4[3w] + 6[1w] = 14-weeks
D
ot
1[6w] + 3[5w] + 5[4w] + 6[1w] = 16-week critical path

N
o
D

60
Network 2
e
Diagram with
ut
4 5
3 C 3
Date and
ib
7 8 8 10
tr
1 3
Dependencies
is
A 4 F
11
D
1 3 9 11
4 7
END
or
Calculate: START D
1 4 4
• Critical path 4 7 8 11
e
1 4
• Forward pass
at
B E
• Backward pass
lic
4 7 8 11
• Float
up
KEY D
ES DUR
ot
EF
N
ACTIVITY
o
LS FLT
D
LF Copyright 2023© Project Management Institute, Inc. All rights reserved.

61
The Project
e
Schedule
ut
ib
tr
is
• Includes start and finish activities
D
• Uses specific dates and in a certain sequence
or
• Sets dates for project milestones
• Coordinates activities to ensure on-time project completion
e
at
• Tracks project progress based on schedule performance and
lic
provides visibility of project status to upper management and project
stakeholders
up
D
ot
N
o
D

62
Schedule
e
Presentation
ut
Formats
ib
tr
Select the type of schedule to suit your project!
is
D
• Roadmap
or
• Gantt Chart
• Milestone Chart
e
at
• Project Schedule Network Diagram
lic
up
Do you remember the name of the tool we used for
D scheduling activities in a project plan?
ot
Hint: The output is a project schedule network
diagram.
N
o
D

63
Gantt Chart
e
Visualize and Track the Project Over a Time Line
ut
ib
tr
is
D
or
e
at
lic
up
D
ot
N
o
D

64
Milestone Schedule
e
Present Milestones with Planned Dates
ut
ib
tr
ID Task Name April May June July
is
3/14 3/21 3/28 4/4 4/11 4/18 4/25 5/2 5/9 5/16 5/23 5/30 6/6 6/13 6/14 6/20 6/27 7/4 7/11 7/18 7/25
D
30 Begin Phase 1
or
31 Deliverable A
32 Deliverable B
e
at
Phase Gate
33
lic
Review
34 Begin Phase 2
up
35 Deliverable C D
36 Deliverable D
ot
Phase Gate
37
N
Review
o
Remember that milestones have

D

zero duration This material is being provided as part of a PMI® course.
65
Project Schedule Network Diagram
e
Visualize Interrelationships of Activities
ut
ib
tr
is
D
or
e
at
lic
up
D
ot
Notations are for graphical
example only!
N
o
D

66
Resource
e
Optimization
ut
ib
Smoothing
tr
• Adjusts the activities within predefined resource limits and within free
is
and total floats
D
• Does not change the critical path nor delay the completion date
or
• Method may not be able to optimize all resources
e
at
Levelling
lic
• Adjusts start and finish dates based on resource constraints
up
• Goal is to balance demand for resources with available supply
D
• Use when shared or critically required resources have limited
availability or are over-allocated
ot
• Can change the critical path

N
o
D

67
Schedule
e
Compression
ut
Techniques
ib
tr
Fast-tracking
is
• Perform activities in parallel to reduce time
D
• May result in rework, increased risk and increased cost
or
e
Crashing
at
• Shortens schedule duration for the least incremental cost by adding
lic
resources – e.g., overtime, additional resources
up
• Works only for activities on the critical path
D
• Does not always produce a viable alternative and may result in
increased risk and/or cost
ot
N
o
D

68
Schedule Baseline*
e
ut
ib
• Complete schedule planning activities
tr
• Add the schedule baseline to the project
is
management plan
D
Ideally, this happens before the project
or
starts.
• Compare actual progress to the baseline
e
while the team works
at
• Use the formal change control process to
lic
make changes to the baseline
up
D
ot
N
o
D

Copyright2023©
69
Special
e
Intervals
ut
ib
Negotiate how and when required scheduled “down” time intervals will
tr
take place
is
D
or
Black-out times - deliverables are handed over for implementation:
What are special • Suspends changes
intervals known as in
e
• Reduces risks as the solution is released to customers
at
your projects?
lic
“Go Live” - at the end of the project timeline
up
D Negotiate black-out times as project approaches release
Iteration H or hardening sprint – conducted prior to final release
ot
N
o
D

70
Schedule
e
Management
ut
in
ib
tr
Adaptive
is
Environments • Depends on team composition and life cycle
D
• Project team works with the product owner to decide
Guidelines
or
• Develop the roadmap to show release functionality and timeframes
• Choose an approach:
e
at
• Time-boxed scheduling with backlog
• On-demand, continuous scheduling
lic
• Project team selects activities for delivery within an iteration (or
up
sprint)
D
• Teams produce increments of value for delivery and feedback
ot
N
o
D

71
Adaptive Scheduling Approaches
e
Comparative View
ut
ib
On-Demand (Kanban/Lean-based) Time-boxed/Iterative
tr
• Allows individual requests to be • Uses progressive elaboration (rolling wave) to
is
addressed schedule activities
D
• Levels out work of team members • Uses a specific work interval — e.g. two
• Best when activities are divided equally weeks
or
• Allows changes at any time during project
e
Does not work well in projects with
at
complex dependency relationships
lic
Prioritize requests to determine start Define requirements with user stories then
sequence then sequence stories prioritize stories
up
individually through completion
Team pulls work from queue
D Select work based on priority and time box; add
remaining stories to backlog; reintroduce stories
ot
later, based on priority

N
Provides incremental business value Delivers business value early and incrementally
o
D

72
Adaptive Planning Overview
e
ut
ib
tr
A release schedule
usually lasts from 3-6
is
months.
D
Time-boxed iterations
or
or sprints typically last
e
1 - 4 weeks.
at
Assign story points to
lic
tasks to determine the
up
amount of work
Velocity – the capacity D Story Point
of the team to complete

ot
Story Point
work Story Point

N
Story Point
o
D

73
Working with Features
e
ut
ib
tr
Scheduling aligned to features ensures
is
associated work is coordinated.
D
Associating features with the product
roadmap offers visibility of when blocks of
or
functionality can be released to the
business and end users.
e
at
lic
up
D
ot
N
o
D

Copyright2023©
74
Agile Release
e
Planning Sequence of features needed in release
ut
MOST
IMPORTANT
ib
Story Mapping
otPriority of user stories by feature
tr
is
• Group stories by
D
sequence and
priority
or
• Sequence features
e
and functions for the
at
release
lic
• Prioritize user stories
in the release
up
backlog and
associate them with D
features and functions
N
LEAST
IMPORTANT
o
D

75
Measure Effort, Not Time
e
ut
ib
Relative sizing
tr
• Compares effort of multiple user stories through assignment of values (XS, S, M, L, XL)
is
D
Use common t-shirt sizes to assign values to user stories.
or
e
Story points
at
• Uses a relative measure – e.g., numbers in the Fibonacci
lic
sequence – to identify the level of difficulty or complexity of
up
a user story or task
D
Planning poker
ot
• Estimates effort or relative size of development effort

N
• Uses a deck of cards with modified Fibonacci numbers to vote on user stories
o
D

76
Definition of
e
Ready (DoR)*
ut
Agile teams need to know when they can be “ready” to do the work and
and
ib
when that work is “done.”
tr
Definition of
is
Done (DoD)* DoR - What needs to be in place so the team can begin work?
D
• Depends on the environment’s complexity and lessons learned from
or
past iterations.
e
• Use DoR checklist to communicate and collaborate with stakeholders
at
about readiness for work or progress.
lic
up
DoD describes the goal or desired state. It must be informed by the
DoR.
D
ot
DoD is similar to acceptance criteria in predictive

N
projects.
o
D

77
Reprioritize
e
ut
Sprint / Iteration The product owner and team collaborate to move work items from a
Backlog* release backlog to an iteration/sprint backlog for the upcoming sprint.
ib
tr
is
Team holds a sprint planning meeting before each sprint, which
D
typically lasts 2 weeks.
or
e
2-week interval
at
lic
up
D ITERATION 1
Sprint
ITERATION 2
...
Feedback
planning Backlog
ot
Prioritization
N
Sprint
planning
o
D

Hybrid
e
Scheduling
ut
Models
ib
Project manager plans high-level project phases and milestones; scrum
tr
Example master runs sprints using agile processes
is
• Identify project work types and try to break them down
D
• Create a prioritized work backlog which fulfils project phase or
or
achieves milestone
e
• Work in iterations/sprints of 2 - 4 weeks (use shorter sprints for less
at
Can you identify which
experienced team to facilitate alignment)
aspects of this
lic
scheduling model are • Plan work before every iteration using prioritized backlog items
predictive and which are
up
adaptive? • Estimate every task to decide how many can fit in a single sprint
Can you identify who • Hold a retrospective at the end of every sprint; capture metrics to
D
does each of the tasks adjust timing and task estimate for next sprint
ot
listed?
N
o
D

79
ECO Coverage
e
ut
ib
tr
is
D
2.6 Plan and manage schedule
• Predictive vs adaptive approach for
or
schedule
e
• Estimate project tasks (milestones,
at
dependencies, story points) (2.6.1)
lic
• Utilize benchmarks and historical data
(2.6.2)
up
• Prepare schedule based on methodology
D
(2.6.3)
ot
N
o
D
80
e
ut
ib
tr
is
D
or
Resources
e
at
TOPIC D
lic
up
D
ot
N
o
D
81
Resources
e
ut
People and Equipment
ib
tr
is
• Value and empower internal human
D
resources, yet
• Leverage external sources to ensure
or
you have the best team and equipment
e
possible!
at
lic
up
D
ot
N
o
D

Copyright2023©
82
Resource
e
Management
ut
• Identify resources - People and equipment
Plan*
ib
• How to acquire them
tr
• Peoples’ roles and responsibilities
is
• Role – A person’s function in a project
D
• Authority - Rights to use resources, make decisions, accept
or
deliverables.
• Responsibility - Assigned duty
e
• Competencies and skills required
at
• Project Organization Chart – (Visual with resource categories and
lic
reporting relationships)
up
• Project team resource management – Guidance on how to define,
select, manage and release resources
D
• Training - Strategies and requirements
ot
• Team development methods
• Resource controls - Methods for ensuring non-human-resources
N
are available as needed

o
• Recognition plan
D
©
Copyright 2023 Project Management Institute, Inc. All rights reserved.
83
Assign
e
Resources and
ut
Allocate
ib
• Assign team members to project
Responsibilities
tr
• Decide roles and responsibilities
is
• Create team directory, organization chart and the schedule
D
or
Project schedules, resource assignments and budgets
e
are all interrelated and can be created at the same time.
at
lic
• Tailor responsibilities according to team, needs and project
approach
up
• onsider technical and “soft” skills:
• Experience, knowledge, skills
D
• Attitude
ot
• Global/regional factors
N
o
D

84
Use Resource
e
Calendars*
ut
ib
tr
is
• Document resource availability (people, equipment, material, etc.)
during a planned activity period.
D
• Use when estimating project activities and understanding
or
dependencies
e
• Specifies when, and for how long, identified team and physical
at
resources will be available during the project
lic
• Progressively elaborate and update it throughout the project
up Resource calendars can be used in any kind of

D
project!
ot
N
o
D

85
Responsibility
e
• Performs work to complete the task or create the
Assignment
ut
RESPONSIBLE deliverable
A team member
Tools
ib
• Every task has at least one responsible person
tr
ACCOUNTABLE • Delegates and reviews the work involved in a project
is
On the team • Ensures the responsible person/team knows project
D
(leadership/ expectations and completes work on time
or
Responsibility assignment management) • Each task has only one accountable person
matrix (RAM) or RACI
e
chart: • Provides input and feedback on project work
at
•
CONSULT
Designates types of • Not every task or milestone needs a consulted party
Stakeholders
lic
accountabilities assigned
to resources or Consider all stakeholders, but invite only
up
stakeholders necessary input
• Keeps information visible INFORM
D
Usually not • Needs to be informed of project progress because their
work might be affected, but don’t need details
ot
project decision
makers
N
o
D

86
Adaptive
e
Resource
ut
Planning
ib
tr
Quiz
is
Which of these are true? (Choose several)
D
or
e
• Teams self-organize to distribute work. TRUE
at
• Adaptive teams never have a leader. FALSE
lic
• Team members are a mix of generalists and specialists. TRUE
up
• Team members should be T-shaped. TRUE
D
ot
N
o
D

87
Filling
e
Resource
ut
Needs
ib
tr
Make or Buy? External sourcing considerations:
is
Borrow? • What is the impact on cost, time or quality?
D
• Is there an ongoing need for the specific skill set?
or
• How steep is the learning curve?
e
• Are required resources available within the organization?
at
• Would outsourcing allow the team to focus?
lic
up
Use a make-or-buy analysis to make the best decision for your team.
D
Make-or-buy decisions are part of a procurement strategy.
ot
N
o
D

88
Plan the
e
Procurement
ut
Strategy
ib
tr
• Work with organization’s finance or procurement department
is
• Use pre-approved vendors before requesting a new vendor
D
• Observe purchase amount limits per signatory — i.e. contracts
or
• Prerequisite OPAs valued over a certain threshold must be co-signed
• Acquisition method
e
• Use defined bidding process and templates
at
• Contract types
• Require RFPs for contracts valued over a certain threshold
lic
• Procurement phases
• Follow escalation procedures for approval of spending limits
up
• Pay contracts at a defined time – e.g., upon completion of work or at
D
the end of a project, with net payment terms
ot
N
o
D

89
Procurement
e
Management
ut
Plan*
ib
tr
is
• Specifies the types of contracts that will be used
D
• Describes the process for obtaining and evaluating bids
or
• Mandates standardized procurement documents
e
• Describes how providers will be managed
at
lic
Your organization’s procurement function will be involved in
up
developing this plan. Work with them closely and use the correct
D procurement documents to avoid problems.
ot
N
o
D

90
Procurement
e
Documents
ut
ib
Bid and
tr
Proposal
is
• Statement of Work (SOW): Details of work required
Activities
D
• Request for quotation (RFQ): Bid/tender or quotation, including only
cost
or
• Invitation for Bid (IFB): Buyer requests expressions of interest in
e
work
at
• Request for information (RFI): Buyer requests more information
lic
from seller
up
• Request for proposal (RFP): Buyer-issued statement of work
required
D
• Expression of Interest (EOI): Seller-issued expression of interest in
ot
work
N
o
D

91
Formal
e
Procurement
ut
Processes
ib
tr
RFPs, Bidder
is
Conferences
D
Organizations in highly regulated industries or government
or
Or, if a project needs specialist work or wants to find the best quality
available.
e
at
Use RFPs, bidder conferences, and formal processes to ensure all
lic
prospective vendors have a clear and common understanding of
the procurement
up
Work closely with the procurement officer or department
D
ot
N
o
D

92
Source
e
Selection
ut
Criteria* •
ib
Overall or life-cycle cost
• Understanding of need
tr
•
is
Technical capability
•
D
Work with external Management approach
resources whose values, • Technical approach
or
skills and attributes are
aligned with your • Warranty
e
project’s. • Financial capacity
at
• Production capacity and interest
lic
• Business size and type
up
• Past performance of sellers
• References
D
• Intellectual property rights
ot
• Proprietary rights
N
o
D

93
Qualified
e
Vendors
ut
ib
tr
is
D
• Are pre-approved by the organization
• Have a history of work with the organization
or
• Are often “preferred” because they are proven, and their accounts are
e
already set up
at
lic
Look in the lessons learned repository to find historical data
up
about vendors.
D
ot
N
o
D

94
Contracts*
e
ut
Negotiate
ib
Productive Contracts:
tr
Relationships • Legalize working agreements
is
• Give structure to working relationships
D
• Further collaboration with partners
or
• Consider risks associated with contract types
• Deliver benefits to the buyer - different benefits by type
e
at
• Can be tailored for the partnership
lic
up
D
DETERMINATION
REQUEST PROPOSAL CONTRACT
ot
OF NEED
N
o
D

95
Contract
e
Types (1 of 3)
ut
Involves payments (cost reimbursements) to the seller for all legitimate
actual costs incurred for completed work, plus a fee (seller profit)
ib
tr
Cost plus • Reimburses seller for all allowable costs for performing contract
is
fixed fee work; fixed-fee payment calculated as a percentage of the initial
D
Cost-reimbursable (CPFF) estimated project costs.
contracts - For projects • Fee amounts do not change unless the project scope changes.
or
with expected, significant
Cost plus • Reimburses seller for all allowable costs for performing contract
scope changes
e
incentive work; predetermined incentive fee based for achieving contract-
at
fee (CPIF) specified performance objectives.
• Shares costs between buyer and seller if final costs are less or
lic
greater than the original estimated costs
• Bases cost sharing on a pre-negotiated cost-sharing formula —
up
e.g., an 80/20 split over/under goal costs
D
Cost plus • Reimburses seller for all legitimate costs
award fee • Bases majority of fee on satisfying subjective performance criteria
ot
(CPAF) defined and incorporated into the contract
N
• Determines fee based on buyer’s assessment of seller

performance and not subject to appeals
o
D

96
Contract
e
Types (2 of 3)
ut
Firm fixed price Price of goods set at beginning; won’t change unless scope
ib
(FFP) changes
•
tr
Fixed price Gives buyer and seller flexibility
incentive fee • Allows for deviation from performance — i.e., financial
is
(FPIF) incentives tied to achieving agreed-upon metrics (cost,
Fixed-price contracts –
D
schedule, awesomeness)
sets a fixed total price for
• Sets price ceiling; any further costs charged to seller
or
a defined product,
service, or result; used Fixed price • Allows for special provisions for predefined final adjustments to
the contract price — e.g., inflation, cost increases (or
e
when requirements are with economic
at
well defined and price decreases) for specific commodities
no significant scope adjustments
lic
changes are expected. (FPEPA)
up
Pre-approved
vendors or
D
international
ot
payments
N
o
D

97
Contract
e
Types (3 of 3)
ut
ib
tr
is
Time and material contracts
D
or
• Also called “time and means”
• Combine aspects of both cost-reimbursable and fixed-price contracts
e
• Used when a precise scope or statement of work is unavailable
at
• Used often for augmenting staff, acquiring experts or gaining external
lic
support
up
D
ot
N
o
D

98
“Agile” Contract Types
e
ut
Multi-tiered • Create a master service agreement to capture fixed items — e.g., warranties, arbitration
structure • List variable items in a schedule of services — e.g., service rates, product descriptions
ib
• Use a SOW to itemize dynamic items — e.g., scope, schedule, budget
tr
Emphasize value • Structure milestone and payment terms based on value derived at milestones
is
delivered • Focus on the value of feedback in product development
D
Fixed-price Decompose scope into smaller, fixed-price micro-deliverables (user stories), giving customer
increments more control over how the money is spent and limiting the supplier’s financial risk.
or
Not-to-exceed • Limit budget to fixed amount, allowing customer to add ideas by removing existing ones
e
time and • Monitor work to avoid overage (or add contingency hours)
at
materials
lic
Graduated time • Connect quality and timely delivery of work (use DoD) to financial award – reward for early
and materials and reduce for late delivery
up
Early • Enable flexible delivery of scope, using DoD — e.g., if partial scope delivery satisfies
cancellation customer, contract can be cancelled for a fee
D
option
ot
Dynamic scope • Gives option to vary scope and fund innovation at specific points while limiting supplier risk
option • Vary scope at specific points to adjust features and innovate
N
Team • mbed supplier’s services directly into the customer organization; fund team instead of
o
augmentation scope
D

99
Components
e
of Contracts
ut
ib
tr
is
• Description of work - deliverables and scope
D
• Delivery date and schedule information
or
• Identification of authority, where appropriate
• Responsibilities of both parties
e
•
at
Management of technical and business aspects
•
lic
Price and payment terms
• Provisions for termination
up
• Applicable guarantees and warranties
•
D
Intellectual property
•
ot
Security, confidentiality, data privacy
N
o
D

100
ECO Coverage
e
ut
ib
tr
1.6 Build a team
is
• Deduce project resource requirements
D
(1.6.2)
or
2.11 Plan and manage procurement
(resources)
e
• Define resource requirements and needs
at
(2.11.1)
lic
• Communicate resource requirements
(2.11.2)
up
• Manage suppliers/contracts (2.11.3)
D
• Plan and manage procurement strategy
ot
(2.11.4)
• Develop a delivery solution (2.11.5)
N
o
D
101
e
ut
ib
tr
is
D
or
Budget
e
at
TOPIC E
lic
up
D
ot
N
o
D
102
Budget
e
Planning
ut
ib
Create budget in accordance with project life cycles:
Overview
tr
is
Begin with fixed budget and amend with change control process
D
Consider:
• Cost as well as value
or
• Organization and Hybrid approaches add adaptability around surety
e
stakeholder attitudes
at
towards budget and
lic
costs
Use burn rate
up
Agile teams collaborate with stakeholder partners and finance
D
stakeholders to suggest incremental budgeting approaches (agile
ot
mindset)
N
o
D

103
Predictive
e
Budget
ut
Planning • Create a cost management plan
ib
• Employ estimating techniques to assign costs to activities
tr
is
• Tailor a cost baseline
D
• Is used to monitor and measure cost performance throughout the
project (compares with actual results)
or
• Includes budget contingencies to address identified risks
• Can be changed only through formal change control procedures
e
at
The budget at completion (BAC) is the highest point on the cost
lic
baseline. The BAC is the sum of all budgets established, or the value
up
of total planned work.
D
ot
N
o
D

104
Check with
e
Organization
ut
ib
Funding Limit
tr
Reconciliation
is
D
or
• Compare planned
project expenditure
e
against funding limits
at
• Align
lic
work/expenditures on
up
the schedule to level
the rate of D
expenditures
ot
N
o
D

105
Historical Data
e
ut
tart with What’s Known
ib
tr
• Check lessons learned repository for
is
budgets, estimates from previous,
D
similar projects or data from the last
iteration
or
• Look for valuable cost-estimating
e
information - both successes and
at
shortcomings
lic
• Use analogous and estimating
techniques, based on similar situations
up
D
ot
N
o
D

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106
Resource Costs
e
ut
ib
tr
is
D
• Match project need to • Assign a blended rate
or
resource attributes • Estimate points (effort) using planning poker or affinity
e
(availability, experience, diagram to find the number of user stories that can be
at
knowledge/skills, completed based on team velocity
attitude)
lic
• Use a simple formula to estimate the cost per point:
• Create initial estimate
up
– Σ (loaded team salaries for period n) / points completed
based on average rate
D in interval n
• Modify as needed
• Use a formula to estimate budget:
ot
– (Cost per point * total point value of items to be
N
completed) + other expenses = forecast budget

o
D

107
Estimate Costs
e
ut
ib
tr
Estimate the cost for each activity or Expecting the scope to change?
is
work package in a project.
Use lightweight estimation methods
D
Cost estimates should include: for high-level estimating.
• Direct labor
or
• Materials
• Equipment
e
• Facilities
at
• Services
lic
• Information technology
• Contingency reserves
up
Use:
D
ot
• Rough order of magnitude (-25 to
+75%)
N
• Definitive Estimate (-5 to +10%)

o
• Phased estimate
D

108
Project Budget
e
ut
ib
tr
• Use the bottom-up approach to
is
aggregate activity costs, work package
costs and cost baseline
D
• Include contingencies to support risk
or
management
e
at
lic
up
D
ot
N
o
D

Adaptive and Hybrid Budget Planning
e
Guidelines/Example
ut
ib
tr
is
Examples
D
or
• Focus on short-term budgeting • Estimate budget based on current data, plus a
and metrics versus long-term forecast algorithm that is based on historic data or
e
expert guidance — e.g., lean or Kanban
at
• Set time periods for work and
prioritize work within those time • Use a “top-down” approach, using gross-level
lic
periods. estimation techniques such as planning poker and
up
affinity grouping on feature sets, then employing
• Base cost on the resources used progressive elaboration and rolling-wave planning
for that time period
D methods to drill down to the task level on a just-in-
ot
time basis (iteratively)
N
• Revise budget at sprint planning intervals

o
D

110
Budget
e
Considerations
ut
ib
• Estimate budget based on the length of time of the project
tr
• Burn rate includes:
is
D
• Number of team members
or
• Blended or actual team member rates
e
• Time of involvement
at
• Assumption of full-time team involvement
lic
• If additional equipment or supplies are required, add them to the
up
estimated cost
D
ot
Product owner may control the budget, depending on team

N
composition.
o
D

111
ECO Coverage
e
ut
ib
tr
is
D
2.5 Plan and manage budget and resources
or
• Estimate budgetary needs based on the
e
scope of the project and lessons learned
at
from past projects (2.5.1)
lic
• Anticipate future budget challenges
up
(2.5.2)
• Plan and manage resources (2.5.4) D
ot
N
o
D
112
e
ut
ib
tr
is
D
or
Risks
e
at
TOPIC F
lic
up
D
ot
N
o
D
113
Risk
e
ut
Conditions of
ib
Uncertainty
tr
is
D
• Risk originates from a wide range of known and unknown causes
or
within and outside the business environment.
• Risk development is indicated by a trigger condition.
e
at
• Risks can be positive (opportunities) or negative (threats).
lic
• If a risk becomes an issue, you must act!
up
D
ot
N
o
D

Project Risks
e
ut
SLC Examples
ib
Project Risks
tr
is
• Working with new vendors and
D
building processes
or
• Supply chain issues for correct
bricks
e
• Building code compliance
at
• Key stakeholder conflict
lic
• Retail market changes –
up
decline of in-store shopping
D • Site survey shows risk of
slippage from coastal erosion
< 25 years
ot
N
o
D

Risk
e
ut
Business
ib
Context
tr
Business risks represent an opportunity for gain or loss.
is
D
Project risk management systematically maximizes the
probability of positive events and minimizes the probability and
or
consequences of negative events.
e
• Likelihood of a risk
at
event vs. the potential
lic
impact
• Opportunity vs. threat
up
As project uncertainty increases, the risk of rework increases;
D adaptive life cycles use smaller increments of work to enable
feedback and progressive elaboration of scope.
ot
N
o
D

116
Create Risk
e
Strategy
ut
How would you describe the Management Guidelines
ib
organization/ project’s risk • Use qualitative (high, medium,
tr
appetite? low, etc.) or quantitative
is
(numerical) ratings
• Risk-seeking?
• Set a maximum risk exposure
D
First, understand risk • Risk-neutral?
parameters for the level that can be managed
• Risk-averse?
or
organization and the without escalation
project! The risk threshold is tied to
e
individual and organizational risk
at
appetites. Do you know:
lic
• Which are too high to accept?
up
• Which are low enough to just be
accepted?
D
• What criteria determines
inclusion in the risk register?
ot
N
o
D

117
Define/Refine
e
Risk
ut
Set initial risk strategy, then define In the plan:
and refine it!
Management
ib
• Risk strategy
tr
Approach • Methodology
is
Factor in project characteristics: • Roles and responsibilities
D
• Size • Funding
or
• Complexity • Timing
• Importance • Risk categories
e
• Development approach •
at
Stakeholder risk appetite
•
lic
Definition of risk probability and
impact
up
Create a risk management plan!
• Probability and impact matrix
•
D Reporting formats
• Tracking documents
ot
N
o
D

118
Far from
Inherent Risk
e
agreement
CHAOS
ut
(FUNDAMENTALL
ib
Y
RISKY)
tr
• Agile projects include risks in user
is
stories and as part of backlog work COMPLEX
Requirements
D
items
• Teams discuss risks at planning
or
meetings, during the normal course of COMPLICATED
e
work
at
(ADAPTIVE PLANNING)
• Teams place risks in a risk register, use
lic
information radiators to ensure
visibility and a backlog refinement
up
SIMPLE
Close to (PREDICTIVE PLANNING)
process that includes constant risk agreement
assessment
D
Close to Far from
Technology
ot
certainty certainty
N
o
D

119
Risk
e
Identification
ut
Data Gathering and Analysis
Techniques
ib
tr
• Risk breakdown structure (RBS)
is
D
• Brainstorming
or
Use a prompt list to • Nominal group technique
evaluate the external
e
• SWOT analysis
at
environment for risks.
• Affinity diagram
lic
• Assumption analysis
up
• Document review
D
• Delphi technique
ot
• Monte Carlo simulation (larger organizations)

N
o
D

120
RBS Level 0 RBS Level 1 RBS Level 2
1.1 Scope definition
Risk 1.2 Requirements definition
e
Breakdown
ut
1.3 Estimates, assumptions, and constraints
1. Technical Risk
1.4 Technical processes
Structure
ib
1.5 Technology
tr
1.6 Technical interfaces
is
2.1 Project management
2.2 Program/portfolio management
Uses typical categories,
D
2.3 Operations management
such as: 2. Management Risk
2.4 Organization
or
• Technical 2.5 Resourcing
0. All Sources of Project Risk 2.6 Communication
e
• Management 3.1 Contractual terms and conditions
at
3.2 Internal procurement
• Commercial
lic
3.3 Suppliers and vendors
3. Commercial Risk
• External 3.4 Subcontracts
up
3.5 Client/customer stability
3.6 Partnerships and join ventures
D 4.1 Legislation
4.2 Exchange rates
ot
4.3 Site / facilities
4. External Risk
4.4 Environmental / weather
N
4.5 Competition
4.6 Regulatory
o
D
Example RBS Copyright 2023© Project Management Institute, Inc. All rights reserved.
121
Assess Risks
e
ut
Qualitative then
ib
Quantitative
tr
is
Perform the subjective qualitative assessment first.
D
or
Prioritize risks for further analysis by assessing and combining their
probability of occurrence and impact in a probability/impact matrix.
e
at
Then, if further support is required, use a quantitative assessment.
lic
up
Not every risk needs quantitative assessment.
D
ot
N
o
D

122
Create Risk Probability and Impact Definitions
e
Example
ut
ib
+ / - IMPACT ON PROJECT OBJECTIVES
tr
is
PROBABILIT
SCALE TIME COST QUALITY
Y
D
or
VERY HIGH >70% >6 months >$5m Very significant impact on overall functionality
HIGH 51-70% 3-6 months $1m-$5m Significant impact on overall functionality
e
at
MEDIUM 31-50% 1-3 months $501k - $1m Some impact in key functional areas
lic
up
LOW 11-30% 1-4 weeks $100k-$500k Minor impact on overall functionality
D
ot
VERY LOW 1-10% 1 week <$100k Minor impact on secondary functions
N
NIL <1% No change No change No change in functionality

o
D

Probability IMPACT
e
(SEVERITY)
and Impact
ut
Matrix
ib
1 2 3 4 5
tr
is
PROBABILITY
VERY LOW
• Use numeric values (LIKELIHOOD)
1 2 3 4 5
D
1
and/or colors
or
LOW
• If using numbers,
multiply them to give 2 2 4 6 8 10
e
a probability impact
at
MEDIUM
score – this makes
3 3 6 9 12 15
lic
evaluating relative
priority easier!
up
HIGH
D 4 4 8 12 16 20
This is NOT a
quantitative VERY HIGH
ot
evaluation. 5 5 10 15 20 25
N
o
D

124
Risk Register*
e
ut
ib
Risk Score
Risk Impact Impact Level Probability Trigger Planned
(probability and Owner
tr
Description Description Score Level Score Condition Response
impact multiplied)
is
What will
(IMPACT X
D
happen if the Rate Rate
PROBABILITY) What indicates the Who’s
risk is not 1 (LOW) to 1 (LOW) to Action plan
Address highest risk will occur. responsible
or
mitigated or 5 (HIGH) 5 (HIGH)
first.
eliminated
e
Supply chain
Supplier
issues for 5 1 5 L. De Souza
at
notification
correct bricks
lic
Building code
5 2 10 Pre-checks fail K. Ayoung
compliance
up
Working with
new vendors
3 D 3 9 Delays or conflict K. Ayoung
and building
processes
ot
N
o
D

125
Risk List
e
ut
Probability Impact
Risk Magnitude
ib
(1-10) (1-10)
• Working with new vendors and Teams can add (tailor)
tr
5 6 30
building processes columns for:
is
• Supply chain issues for correct • Owner
D
bricks 5 10 50
• Status
or
• Building code noncompliance 5 10 50
• Date identified
e
• Key stakeholder conflict (Josie
• Date resolved
at
Bynoe) 4 6 24
• Days active
lic
• Retail market declining 8 10 80
• Resolution strategy
up
• Site survey shows risk of slippage
from coastal erosion < 25 years 5 3 15
D
ot
In addition to a risk list or a risk register, teams use information radiators and a
N
backlog refinement process with risks added, which are discussed at various
o
planning meetings.
D

Quantitative
e
Risk Analysis • Simulations - Use computer models to determine risk factors
ut
Methods
ib
• Monte Carlo simulations produce a quantitative risk analysis model
tr
by using schedule and/or cost inputs to produce an integrated
(1 of 2)
is
quantitative cost-schedule risk analysis
D
• Simulations • Sensitivity analysis - Determine the greatest risk
or
• Sensitivity analysis • Output is the
Tornado diagram,
e
• Decision tree analysis
at
a horizontal bar
• Influence diagrams chart comparing
lic
• Expected monetary relative importance
up
value (EMV) of various risks,
highest on top
D
ot
N
o
D

Quantitative
e
Risk Analysis
ut
Decision tree analysis
• Branches represent decisions or events, each with associated costs
Methods
ib
and risks
tr
(2 of 2) • The end-points of branches represent the outcome (negative or
is
positive)
D
• Simulations Influence diagrams
or
• Sensitivity analysis • Quality management graphical aid
• Decision tree • Shows elements of uncertainty caused by risks using ranges or
e
probability distributions
at
analysis
lic
• Influence diagrams
Used when decision trees are too complex.
• Expected monetary
up
value (EMV)
D
Expected Monetary Value (EMV)
• Multiply the monetary value of a possible outcome with its probability of
ot
occurrence to calculate the EMV of each branch

N
• Select the optimal one

o
D

Risks
e
ut
Time, Cost and
ib
Life Cycle
tr
is
D
“Predictive projects are most often Do you think each of these
or
affected by the impact of cost-related typical risks is more typical of
risks, whereas adaptive projects are predictive or adaptive project?
e
affected by the impact of time-related Can you explain why?
at
risks.”
lic
Typical Risks
• Delivery date slips
up
Do you agree or disagree?
Why? • Stretched resources
• Lack of clarity
D
• Scope creep
ot
N
o
D

Risk Response
e
ut
Good Practice
ib
tr
is
Risk responses should be:
D
• Appropriate for the significance of the risk
or
• Cost effective
• Realistic within the project context
e
at
• Agreed to by relevant stakeholders
•
lic
Owned by a responsible person
up
D
ot
N
o
D

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Plan Risk
e
Response
ut
ib
Guidelines and • A trigger condition signals a risk can develop
tr
Terminology
is
• Team implements a risk response
D
• A secondary risk can arise as a direct result of the risk response
or
implementation
e
• Residual risk can remain after risk responses have been
at
implemented
lic
• Have a contingency (fallback) plan ready in case the primary risk
up
response fails
D
• The contingency reserve (or allowance) is the budget within the
cost baseline that is allocated for identified risks and their response
ot
strategies
N
o
D

131
Risk Response Strategies
e
THREAT OPPORTUNITY
ut
ib
tr
Prepare strategies for threats (negative) as ESCALATE ESCALATE
is
well as opportunities (positive) and for
individual project risks and overall project
D
risk. AVOID EXPLOIT
or
e
at
TRANSFER SHARE
lic
up
MITIGATE ENHANCE
D
ot
ACCEPT ACCEPT
N
o
D

132
ECO Coverage
e
ut
ib
tr
is
2.3 Assess and manage risks
D
• Determine risk management options
or
(2.3.1)
• Iteratively assess and prioritize risks
e
at
(2.3.2)
lic
3.1 Plan and manage project compliance
• Determine necessary approach and
up
action to address compliance needs (risk,
legal) (3.1.6) D
• Determine potential threats to compliance
ot
(3.1.3)
N
o
D
133
e
ut
ib
tr
is
D
or
Quality
e
at
TOPIC G
lic
up
D
ot
N
o
D
134
Quality
e
ut
ib
tr
The degree to which a set of inherent
is
characteristics fulfill requirements.
D
Include:
or
• Stakeholder expectations and end-user
satisfaction
e
• Compliance with standards and
at
regulations
lic
• Continuous improvement
up
D
ot
N
o
D

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135
Cost of Quality
e
(CoQ)
ut
ib
Money spent during project to avoid failure Money spent during/after project
tr
because of failures
is
D
• Prevention costs (Build a quality • Internal failure costs
or
product) • Rework
• Training • Scrap
e
at
• Document processes • External failure costs
lic
• Equipment • Liabilities
up
• ime to do work “right” – resources, • Warranty work
infrastructure expenses
D • Lost business
• Appraisal (quality assessment)
ot
• Testing
N
• Inspections
o
D

136
Stakeholder
e
and Customer
ut
Expectations
ib
tr
of Quality PRODUCT/DELIVERABLE PROCESSES
is
D
Identify quality requirements Ongoing observation and checking
during requirements elicitation; of processes stated in quality
or
create quality management plan. management plan; overseen by a
quality policy.
e
at
lic
Your organization should have a quality policy which applies to
all projects. If your organization does not have a quality policy,
up
then your project needs to create one.
D
ot
N
o
D

Quality Management Plan
e
ut
ib
tr
• Activities and resources that achieve the
is
quality objectives
• Formal or informal, detailed or broadly
D
framed
or
• Reviewed throughout the project
• Benefits:
e
• harper focus on the project’s value
at
proposition
lic
• Cost reductions
up
• Mitigated schedule overruns from
rework D
ot
N
o
D

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138
Compliance
e
Requirements
ut
ib
tr
Internal and external standards, such as:
is
• Appropriate government regulations
D
• Organizational policies
or
• Product and project quality requirements
• Project risk
e
at
Compliance actions:
lic
• Classify compliance categories
up
• Determine potential threats to compliance
• Analyze the consequences of D
noncompliance
ot
• Determine necessary approach and

N
action to address compliance needs

o
D

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139
Quality Example
e
Standards and
ut
Documents established as a model
Standards by an authority, custom, or by Dictionary
Regulations
ib
general consent.
tr
Requirements that can establish
is
product, process, or service
Regulations characteristics, including applicable Language rules
D
administrative provisions with
or
government-mandated compliance.
De facto standards or Widely accepted and adopted Words are used widely in
e
regulations through use, but not yet. . .. groups, like slang or jargon.
at
lic
De jure standards or Mandated by law or approved by a Word enters dictionary and
regulations recognized body of experts. becomes a defined word.
up
D A number of international institutes are devoted to quality, including:
• American Society for Quality (ASQ) - ISO 9000 Series
ot
• The Chartered Quality Institute (CQI)

N
• ASTM International
o
D

140
Discussion
e
ut
Quality Standards and
ib
Regulations
tr
is
D
What standards and regulations are
relevant in your industry?
or
e
at
lic
up
D
ot
N
o
D

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provided
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partofofa aPMI
PMI®
Workshop.
course.
141
Quality
e
Metrics,
ut
Checklists,
ib
Metrics measure desired quality attributes for your product or project
tr
and through testing, use of tools, processes.
is
Processes
D
Include a tolerance level that factors in what the customer will accept
or
and describe the desired quality level in the acceptance criteria and
DoD.
e
at
Include checklists, templates and quality artifacts in the quality
management plan.
lic
Adaptive teams use retrospectives and small batch cycles to ensure
up
quality.
D
ot
N
o
D

142
Quality
e
Methods for
ut
Continuous
ib
tr
Improvement
is
D
Six Sigma (aka Lean Six Sigma) – DMAIC framework (Define,
or
Measure, Analyze, Improve, Control) – focus on removing waste
Kaizen – “change for better/improve”
e
at
(PDCA) Plan – Do – Check – Act – Shewhart/Deming
lic
up
Agile methods - Scrum, Kanban, Crystal Methods (software), etc.
D
ot
N
o
D

ECO Coverage
e
ut
ib
tr
is
D
2.7 Plan and manage quality of products /
or
deliverables
• Determine quality standard required for
e
project deliverables (2.7.1)
at
lic
3.1 Plan and manage project compliance
• Use methods to support compliance
up
(3.1.4)
• Measure the extent to which the project is
D
in compliance (3.1.7)
ot
N
o
D
144
e
ut
ib
tr
is
D
or
Integrate Plans
e
at
TOPIC H
lic
up
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o
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145
Integrating
e
Plans
ut
ib
An Important Overall, the scope, schedule, budget, resources, quality and risk plans
tr
Step must support desired outcomes.
is
D
An integrated view of all plans can:
or
• Identify and correct gaps or discrepancies
e
• Align efforts and highlight how they depend on each other — so your
at
team works better!
lic
• Help assess and coordinate the project during its life cycle
up
D The result of this step is an integrated project management
ot
plan!
N
o
D

146
Integrate
e
Plans
ut
At the end of the planning stage, combine all planning results
ib
from knowledge areas.
tr
is
D
Specific to project manager role, this task cannot be
delegated.
or
e
at
lic
eframe the approach to “plan integration” and figure out a way
up
forward to work with the various planning elements – adapt it
D while working!
ot
Adaptive processes and agile ceremonies provide a structure to

N
continuously integrate plans or aspects of a project.

o
D

147
Questions about Change Typical Answers
Change
e
Control
ut
Who can propose a change? Roles are assigned
ib
tr
A change is proposed or an event
is
What exactly constitutes a change? changes one of the project
Use a change baselines or measures
D
management plan to
What is the impact of the change on project
or
set a process and Recommend evaluation method
assigned roles for objectives?
e
change
What are steps to evaluate a change
at
Required steps per quality policy
request before approving or rejecting it?
lic
Who has the authority to approve various Change control board, other
up
types and levels of change? approvals
When a change request is approved, what
D
project documents will record the next Change log
ot
steps (actions)?
N
How will you monitor these actions to Quality metrics, RAM/RACI charts,
confirm completion and quality? information radiators
o
D

148
Plan for
e
Complexity
ut
and Change Systems-based
ib
• Decoupling: Disconnect parts of the system to simplify it and reduce
tr
the number of connected variables
is
• Organization’s system • Simulation: Use similar, unrelated scenarios to try to understand the
D
complexity
• Human behavior
or
• Uncertainty or Reframe the Problem
e
ambiguity • Diversity: View the system from different perspectives
at
• Balance: Reconsider the type of data used
lic
up
Process-Based
• Iterate: Plan iteratively or incrementally; add features one at a time
D
• Engage: Really engage with stakeholders
ot
• Fail safe: Plan for failure
N
o
D

149
How to Approach
e
Complex Plans
ut
ib
Fail Fast and Self-Correct!
tr
is
D
Instead of planning, rely on tailoring,
or
adaptability and resilience
e
Adopt mindsets and frameworks that
at
prioritize collaboration over instruction
and control
lic
up
D
ot
N
o
D

Copyright2023©
150
ECO Coverage
e
ut
ib
tr
2.9 Integrate project planning activities
is
• Consolidate the project/phase plans
D
(2.9.1)
• Assess consolidated project plans for
or
dependencies, gaps, and continued
e
business value (2.9.2)
at
• Analyze the data collected (2.9.3)
lic
• Collect and analyze data to make
informed project decisions (2.9.4)
up
• Determine critical information D
requirements (2.9.5)
ot
2.10 Manage project changes
• Determine strategy to handle change
N
(2.10.2)
o
D
151
e
ut
ib
tr
is
D
or
e
End of Lesson 3
at
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up
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ot
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o
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152

Module 3 Plan The Project

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*See definition tab for list

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the team to execute the planned work

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controls elaboration of plans constraints emerge

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planning process look like? prioritize user stories in the release

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the beginning of the process. stories.

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(potential single point of

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developed by Dean Leffingwell and Don

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to achieve them efficiently

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part of only one financial (numbering system)

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How do adaptive or hybrid teams “plan” for handovers or

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• Determine the activities required to deliver iteration objectives

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requirements backlog, sprint backlog, lean backlog.

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Includes activities and efforts such as documentation,

bug fixes, testing and quality/defect repairs

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• Determine criteria to successfully close

the project or phase (2.17.1)

backlog after each iteration and plan

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