Project Management Step by Step

INTRODUCTION TO THE COURSE

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 Risk Analysis
• What can go wrong?
• Look at previous projects
• How likely and how serious?
– Assess each risk w.r.t its likeliness and seriousness
using point based scale from 1 – 5.
– Multiply likeliness and seriousness. If you get double
digit than plan for this risk
– Identify which of the risks you are not able to handle
and still you are exposed to.

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 Gantt Chart
• Gantt Chart is a great tool for
– Communication and commitment
– Forecasting (resource requirements)
– Monitoring progress - colored Gantt Chart
How to draw?
1. Time scale at the top
2. Put critical path in
3. Put floating tasks in. Draw constraints lines before
putting the floating task

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 Shortening Schedule
• Do not think about dead lines while making network
diagrams or Gantt Charts
• We have got 3 options to shorten our schedule
– Spend more
– Reduce quality
– Overlapping tasks which may cause some risks (we
can not overlap all sorts of tasks)

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 Controlling the Project
• Use colored in Gantt Chart
• Keep an eye on costs with respect to Gantt Chart

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Controlling the Project

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Controlling the Project

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Controlling the Project

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Controlling the Project

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Controlling the Project

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Controlling the Project

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 Reschedule if Required
• Always a problem
• You need to discuss your boss in the middle of the
project to opt for any of the following options
– Spend extra
– Reduce quality
– Overlap the remaining tasks where possible.
– Let the project run late if time is not the key driver

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• Let the Original Estimation is
– Phase 01: Rs 50,000
– Phase 02: Rs 50,000
• Actual Cost incurred after Phase 01: Rs 55,000
• After rescheduling Cost for Phase 02: Rs 55,000
• Approximate project cost: Rs 110,000
• Keep some buffer to avoid cost re-estimation.
REMEMBER!
• DON’T BE TEMPTED TO DO NOTHING AND HOPE!!!

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 Project Review
• Extremely important
• The only way organizations learn through previous
experiences
• What was good about the project?
– Things that can be repeated again.
• What was bad about the project?
• What could we have done better?

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