Project Management Study Note

PROFESSIONAL MASTER IN BUSINESS
ADMINISTRATIOn
Project management
CHAPTER 1
THE CONCEPT OF PROJECT
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There are three concepts that are part of any project no matter what
type of project is being worked on. These three concepts include:-
a) Project processes,
b) Project life cycles,
c) Project management systems.
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What are the key concepts in project management?
Process groups include
1) initiating,
2) planning,
3) executing,
4) monitoring and
5) controlling, and
6) closing.
Knowledge areas include integration, scope, time cost, quality, human
resources, communication, risk, procurement, and stakeholder management.
CHAPTER 1
THE Characteristics OF a PROJECT
A project has the following characteristics:
Objective
Each and every project needs to be guided to achieve an objective or a set of
objectives. It ceases to exist when the objective is achieved.
Life Span
A project has beginning and end. It cannot continue forever. Its life span can be
short or long depending on its nature and scope. It has a life cycle consisting of
formulation, planning, implementation and termination phases.
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Constraints
A project has a schedule. It operates within the constraints of time, cost and quality.
Every project requires certain investment of resources.
Unique
Every project is unique. No two projects are exactly similar. It consists of customized
non-repetitive activities
Teamwork
A project has many participants. It requires teamwork under the leadership of the
Project Manager. Team members are temporarily assigned from other functional
departments.
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phases in the life cycle OF a PROJECT
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1) Initiating process group:-
Those processes performed to define a new project or a new phase of an
existing project by obtaining to start a project or phase
2) Planning process group:-
Those processes required to establish the scope of the project, refine the
objectives ,and define the course of action required to attain the
objectives that the was undertaken to achieve
3) Executing process group :-
Those processes performed to complete the work defined in the project
management plan to satisfy the project specifications.
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4) Monitoring and controlling process group:-
Those processes required to track ,review and regulate the progress and
performance of the project; identify any areas in which changes to the
plan are required; and initiate the corresponding changes
5) Closing process group:-

Those processes performed to finalize all activities across all Processes
Groups to formally close the project or phase
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CHAPTER 2
elements of project human resources
management
Project Human Resource Management
• The processes that organize, manage, and lead the project team
• The project team is comprised of the people with assigned roles and
responsibilities for completing the project
The Project Management Team is..
• A subset of the project team and is responsible for the project management and
leadership activities such as initiating, planning, executing, monitoring,
controlling, and closing the various project phases
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management
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CHAPTER 3
time scheduling a project : PRELIMINARY WORK BREAKDOWN
STRUCTURE ( WBS) , LINEAR RESPONSILIBILITY CHART AND SCHedUlE
OF ACTIVITIES
What is time scheduling in project management?
Time scheduling is a collection of techniques used to develop and
present schedules that show when work will be performed. The results of
all these techniques are usually presented as activities or bars on a
timeline, known as a Gantt chart.
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OF ACTIVITIES
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OF ACTIVITIES
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OF ACTIVITIES
CPM & PERT
Both Critical Path method CPM and Program Evaluation and Review Technique (PERT) provide tools to:
• 1. Develop critical path
• 2. Establish most likely time estimates
• 3. Calculate boundary times that define a time window for each task
• Boundaries include:
• earliest time for task to begin
• latest time for task to begin
• earliest completion time for task
• latest completion time for task
CHAPTER 3
OF ACTIVITIES
Basics of Project Scheduling
• 1. Create deliverables-based project schedules
• 2. Determine the appropriate level of detail
• 3. Implement a regular status update and reporting process
• 4. Regularly review and update the schedule
CHAPTER 3
OF ACTIVITIES
Work Breakdown Structure -WBS
A work breakdown structure (WBS) is essentially the scope statement reduced to
individual pieces of work.
Tasks - called work breakdown structure (WBS)
To project schedule, begin with set of tasks (WBS)
1. Effort, duration and start date are determined for each task
2. Assign tasks to project team member(s)
3. Develop a Gantt (timeline) chart
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OF ACTIVITIES
Benefits and Uses of WBS
The completed WBS will expose all the component parts of the project down
to a workable level of detail.
The WBS itself is not a schedule or cost estimate, but it provides the
underlying framework for developing both of these key management tools.

CHAPTER 3
STRUCTURE ( WBS) , LINEAR RESPONSILIBILITY CHART AND SCHeDulE
OF ACTIVITIES
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OF ACTIVITIES
Few reasons for creating a WBS in a project.
• Accurate and readable project organization.
• Accurate assignment of responsibilities to the project team.
• Indicates the project milestones and control points.
• Helps to estimate the cost, time, and risk.
• Illustrate the project scope, so the stakeholders can have a better
understanding of the same.
CHAPTER 3
OF ACTIVITIES
How to build a WBS
• Begin with the Charter, focusing on Objectives and Deliverables
• Break the main product(s) down into subproducts
• Set the structure to match how you’ll manage the project
• Lowest level not too detailed, not too large
• Is there a need for Integration?
• Identify support activities
• Check for completeness - is all the effort included?
• Develop a coding structure if needed
• Assign work package managers
CHAPTER 3
OF ACTIVITIES
Linear Responsibility Chart (LRC)
Structure
– Row for each task
– Column for each participant
Indicates type of responsibility (primary, consulting, reviewing,
etc.) for each task
– Who is responsible
– Who is involved
CHAPTER 3
OF ACTIVITIES
Use Of LRC
• Provides structure for identifying and sharing responsibility
• Allows team to reach consensus on who is doing what
• Let’s all stakeholders understand their responsibilities
• Translate the “what” of the WBS into the “who” of responsibility

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OF ACTIVITIES
Team Exercise Linear Responsibility Chart
• Task--Construct a LRC for an assigned problem
Use the WBS developed earlier
• Process -- Work as a team
– Individual brainstorming (2 minutes)
– Building consensus (5 minutes)
– Reporting results (2 minutes)
• Randomly selected individuals report team’s WBS
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OF ACTIVITIES
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OF ACTIVITIES
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OF ACTIVITIES
CHAPTER 4
gantt charts and lob
The Purpose of a Gantt Chart:
• To illustrate the relationship between project activities & time.
• To show the multiple project activities on one chart
• To provide a simple & easy to understand representation of project
scheduling
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Creating a Gantt Chart:
There are two methods to creating a Gantt Chart (Maylor, 2005).
1. Using a Forward Schedule: starting with the list of activities and a
given start date (6th Sept in previous example) follow them forwards in
time until you hit given deadline.
2. Using a Backward Schedule: look at the deadline, from that date
work in the logical list of activities.
Both of these methods allow you to ensure that all necessary activities
can possibly be completed within the given project time frame.
CHAPTER 4
Steps to Creating a Gantt Chart:
• 1. Determine Project start date and deadline.
• 2. Gather all information surrounding the list of activities within a project – the
Work Breakdown Structure may be useful for this.
• 3. Determine how long each activity will take
• 4. Evaluate what activities are dependent on others
• 5. Create Graph shell including the timeline and list of activities.
• 6. Using either Forward Scheduling or Backward Scheduling,Begin to add bars
ensuring to include dependencies and the full duration for each activity.
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The Advantages:
• A useful tool for displaying time-based information within a project.
• Very simple to create
• They provide a useful overview of project activities, a good starting
point for project planning.
• The charts are widely used and understood.
• There exists several PC software packages that allow you to build
Gantt Charts.
CHAPTER 4
Line of Balance (LOB)
Definition
• A simple diagram to show location and time at which a certain crew will be
working on a given operation.
• Focuses on balancing the time taken for individual activities by either re-
distribution of resource or by reducing process waste.
• LOB is a Planning methodology to optimize resources used
• LOB is a Good Visual tool that lets us see if a construction program can be
achieved with the minimum waiting time between tasks
• It is primarily used on projects that have repeated elements like Highways,
Pipelines, High-rise buildings, hotel bedrooms, bridge etc.
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SCHEDULING WITH LOB
Prepare a logic diagram.
To complete each operation, calculate the estimate of man hours required.
Select a buffer time which will lookout against the risk of interference between
operations.
Calculate the equation outputs targets so as to meet a given project completion
date.
Complete the LOB schedule.
In order to bring more balance schedule, inspect the schedule and access possible
attentive.
CHAPTER 4
Advantages
It allows a clear understanding of the amount of work taking place at a certain time in a specific
place.
It is relatively easier to modify , update and change the schedule.
if It allows the better management of sub contractor and resources.
It allows problems areas to be identified in advance
Disadvantages
LOB does not shows critical activities.
A monitoring device; not as easy to use as a planning device
Limited to production and assembly type processes.
It could be divided only by location.
It shows only where the problem is, it does not shows what actual problem is.
CHAPTER 4
Faster planning process
Less tasks
Less links
Faster program creation
Less time to understand & interpret
Easy to try ‘what-if’ scenarios
Superior project control

Easy to interpret
Clear uncomplicated displays
Simple to manage
Easy to monitor
Effortless progress updates
Effective control
CHAPTER 4
Three diagrams are used in LOB
1. Production Diagram
Shows the relationships of the activities for asingle unit.
2. Objective Diagram
Used to plot the planned or actual number of units produced vs. time.
3. Progress Diagram
Shows the number of units for which the activity has completed .
CHAPTER 5
network techniques : concept of project network , construction
of project network, critical path method and free float
A project network (or project activity network) is a graphical depiction

(very similar to a flow chart) that shows the sequence in which
the project's terminal elements must be completed. Each terminal
element should lie on only one path through the network
CHAPTER 5
Cont.
• Provides the basis for scheduling labor and equipment
• Provides an estimate of the project’s duration
• Provides a basis for budgeting cash flow
• Highlights activities that are “critical” and should not be delayed
• Help managers get and stay on plan
CHAPTER 5
FROM WORK PACKAGE…
CHAPTER 5
…NETWORK
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CPM is a network diagramming technique used to predict total project duration.
CPM is an analysis technique with three main purposes:
• To calculate the project’s finish date
• To identify to what extent each activity in the schedule can slip(float) without delaying the project
• To identify the activities with highest risk that cannot slip without changing the project finish date
CPM
How does the Critical Path Method calculate the project’s finish date?
Forward pass calculation
• calculates Early Start and Early Finish dates
Backward pass calculation
• calculates Late Start and Late Finish dates
CHAPTER 5
• Early Start (ES) is the earliest date a task can start
• Early Finish (EF) is the earliest date a task can be completed
• Late Start (LS) is the latest date a task can start without delaying the project and date
• Late Finish (LF) is the latest date a task can finish without delaying the project end date
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The purpose of backward pass is to find the float.

Float is the amount of time an activity can be delayed or lengthened. Also called slack.
• Total float: the amount of time an activity can be delayed or extended without extending the overall
project’s completion time
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Why floats are important in the critical path method?

If an activity has a TF=0, what does this mean?
• Floats determine thee criticality of an activity
• Critical activities have the least amount of Float
• Floats determine the critical path
The critical path is made of activities that cannot be delayed without delaying the final date of the
project
• If an item is on critical path, it has a zero float
• The critical path is the path with longest duration
• It is possible to have more than one critical path
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Critical Path Method (CPM)
CPM is a network diagramming technique used to predict total project duration
• A critical path for a project is the series of activities that determines the earliest time by which the
project can be completed
• The critical path is the longest path through the network diagram and has the least amount of slack
or float
• Slack or float is the amount of time an activity may be delayed without delaying a succeeding
activity or the project finish date
Calculating the Critical Path
First develop a good network diagram
• Add the duration estimates for all activities on each path through the network diagram
• The longest path is the critical path
• If one or more of the activities on the critical path takes longer than planned, the whole project
schedule will slip unless the project manager takes corrective action
Chapter 6
PERT and its advantage over cpm . Probability of completing a
project in time
PERT deals with unpredictable activities, but CPM deals with predictable
activities. PERT is used where the nature of the job is non-repetitive. In contrast
to, CPM involves the job of repetitive nature. PERT is best for research and
development projects, but CPM is for non-research projects like construction
projects.
The advantages of PERT: It provides a graphical display of project activities that
helps the users understand the relationships among the activities. It is the ideal
technique for tactical level planning and operational level control of projects.
Chapter 6
project in time
Chapter 6
project in time
How do you calculate the probability of a project on time?

Step 1 :- For critical activity only. σ=tp−to6. Activity. T0. Tm. Tp.
te=t0+4tm+tp6.
Step 2:- Project duration = 31 days. Critical path =1-2-4-6-7-8.
Step 3:- The probability of completing the project in 35 days is. z =
scheduled time-project durationϵ S.T.= 35 Days. P.D.= 31 Days.
ϵ=√σ2=√8.203=2.86. z = 35−312.86=1.398.
Chapter 6
project in time
What is the probability of completion of project in expected

time?
That the probability that project will be finished before the
expected duration are 1%-50% while probability that project will
be finished after the expected duration are 50%- 99%.
Chapter 7
crashing a network and concept of pert cost
Crashing is the technique to use when fast tracking has not saved enough time on
the schedule. It is a technique in which resources are added to the project for the
least cost possible. Cost and schedule tradeoffs are analyzed to determine how to
obtain the greatest amount of compression for the least incremental cost.
Crashing an activity (Crashing the network): Reducing the time required to

complete an activity (in hopes that this will reduce the completion time of the entire
project) by assigning additional resources to that activity but reducing the duration
time of the activities on the critical path may change the critical path.
Chapter 7
Graph that plots project costs against time; includes direct, indirect,
and total costs for a project over relevant time range.
What are the 5 common reasons for crashing a project?
• Time to market pressures.
• Unforeseen delays.
• Incentives for early completion.
• Imposed deadlines.
• Pressures to move resources elsewhere.
Chapter 7
What is your concept of cost?

The concept of cost is a key concept in Economics. It refers
to the amount of payment made to acquire any goods and services. In a
simpler way, the concept of cost is a financial valuation of resources,
materials, undergone risks, time and utilities consumed to purchase
goods and services.
Chapter 7
Following this summary of the different types of costs are some

examples of how costs are used in different business applications.
• Fixed and Variable Costs.
• Direct and Indirect Costs.
• Product and Period Costs.
• Other Types of Costs.
• Controllable and Uncontrollable Costs.
• Out-of-pocket and Sunk Costs.
Chapter 8
forms of project organization, project planning &control and
human aspects of project management
PROJECT ORGANIZATION
• To work on any project or business you need to have a proper project organization & its structure.
• Which includes Manpower, Machinery, Technology, Building, Infrastructure, etc.
• As they are the key factors for a successful commercialization of the project.
FORMS OF PROJECT ORGANIZATION
• FUCTIONAL ORGANIZATION
• DIVISIONAL ORGANIZATION
• MATRIX ORGANIZATION
• PROJECTIZED ORGANIZATION
Chapter 8
FUNCTIONAL ORGANIZATION
• When activities are divided, on the basis of functions of the organization, it is called ‘functional
organization’.
• This may allow recruitment of subject expertise but at the same time it may result in a greater
coordination problem causing lesser control due to chaos.
Chapter 8
DIVISIONAL ORGANIZATION
• This structure is for HIGHLY DIVERSIFIED & DESPERSED firms in terms of geographical areas/
product/ market.
• A divisional organizational structure usually consists of several parallel teams focusing on a single
product or service line.
• In a divisional structure, an organization is divided into various divisions where people with diverse
skills are kept together in the form of groups by a similar product, service or geographic location,
and each division itself is capable of doing the task on its own. Each division has its own resources
required to function properly.
• The division can be based on product, service or the geographical area: e.g. :- ITC
Chapter 8
Chapter 8
MATRIX ORGANIZATION
• When it comes to matrix structure, the organization places the employees based on the function and the
product.
• The matrix structure gives the best of the both worlds of functional and divisional structures.
• The company uses teams to complete tasks
• The teams are formed based on the functions they belong to and product they are involved in
Chapter 8
PROJECTIZED ORGANIZATION
• In projectized organizations, arrange their activities into programs or portfolios, and implement
them through the projects.
• Here, the project manager is in charge of his project, and he has full authority over it. Everyone in
his team reports to him. The projectized organization structure is opposite to the functional
organization structure. Here, either there will be no functional manager, or if he exists, he will have a
very limited role and authority.
• The project manager controls the budget, resource, and work assignment.
Chapter 8
Project planning
• Fulfills four distinct purpose, it determines:
• 1. The cost and duration of the project.
• 2. The level of resources needed.
• 3. Helps to allocate work and monitor progress.
• 4. Helps to assess the impact of changes to the project.
Chapter 8
Chapter 8
Project control
• 1. Project monitoring: current expenditure to date, amount of
overtime authorized, inspection failure, progress of activities etc.
• 2. Assessing project performance: Compare planned and actual
expenditure
• 3. Intervene to change the project: when the project is out of control
in the sense of cost, quality levels or time, intervention is required.
Chapter 8
Introduction
• A successful execution of project requires satisfactory human relations system.
• Technical problems may be solved with additional input of resources, but peoples
problem is not readily resolved in short term.
• To achieve satisfactory human relations in project setting, project manager has to
handle successfully problems relating to:
1. Authority
2. Orientation
3. Motivation
4. Group Functioning
Chapter 8
Management Of Authority
A project manager usually receives very little formal authority between functional lines of command.
He has to co-ordinate the efforts of various functional groups consisting of professionals and
supervisory personnel.
In order to gain authority he should be able to:
1. Develop a rapport with the project personnel.
2. Resolve conflicts among various people working on the project.
3. Have good professional reputation and stature, good communication and persuasion skills.
4. Ability to act as buffer between technical, engineering, financial and commercial people.
Chapter 8
Management Of Orientation
The efficient achievement of project targets with in given time and budget requires
the project manager to strengthen his managerial orientation.
Usually a project manager is an engineer having technical knowledge and outlook
to problem handling, but for this he needs to become engineer-manager.
He needs to:
1. Perform tasks of planning, organizing, directing and controlling resources of the
firm.
2. Adopt a creative approach to unstructured problem solving.
3. Attach greater importance to efficient utilization of resources and resolution of
human relation problems.
Chapter 8
Management Of Motivation
The project manager while working within given sociotechnical system can influence the motivation
level of the project personnel.
For this he should remember that
1. Every human being has different needs with differing importance attached to them.
2. Behavioral research reveals that pressure to work is only functional to an extent.
3. Motivation level is strong with challenging, achievable goal setting.
4. Expectation of reward rather than fear of punishment has a greater bearing.
Chapter 8
Management Of Motivation
To motivate project personnel, project manager must:
1.Be a perceptive observer of human beings.
2.Have the ability to appreciate the variable needs of human beings.
3.Be sensitive to the reactions of people and act supportively rather than threatening
them.
4.Have the skill of several styles of management suitable to different situations.
Chapter 8
Management Of Group Functioning

A project manager should strive to build a mixed group.
A mixed group consists of people drawn from different levels from various functions,
departments and companies.
A mixed group promotes cohesion, is conducive to creating a project attitude and
develops commitment for project.
‘Participative ‘ style of management should be pursued by the management
Chapter 8
Management Of Group Functioning

The project manager should:
1.Facilitate the development of mutual trust and acceptance, open
communication, cooperation, and project attitude.
2.Have leadership capabilities, sensitivity to human nature,
perceptiveness, maturity, impartial approach, concern for welfare of
others.
Chapter 9
performance reviews on the basis of planned project cost and
time
Performance reviews is a technique employed in project management

that is used to gauge, compare, and analyze the performance of work in
progress against the baseline of the project. The benefit of conducting
performance review is that it can dictate the fate of the project within
the organization.
There are many things that are measured, compared and analyzed in
performance reviews and these include the actual implementation and
completion dates of the project as well as the remaining time for work in
progress.
Chapter 9
time
There are different techniques that are used to conduct performance reviews and
these include the following:
• Critical chain method: This method compares the amount of buffer remaining
from the buffer required to protect the delivery date. It is used to determine the
status of the schedule.
• Earn value management: It is used to assess the degree of variation of the
scheduled baseline using the schedule variance and schedule performance.
• Trend analysis: This method examines the performance of the project over time. It
helps determine if the performance of the project is deteriorating or improving.
• Critical path method: It compares the progress along the critical path to
determine the status of the schedule. It has a direct impact on the project’s end
date.
Chapter 9
time
How do you monitor performance time in a project?

5 Ways To Measure Project Success
1.Schedule. Project management success is often determined by whether or not you
kept to the original timeline.
2.Quality. The end of a project phase is a good time for a quality review.
3.Cost.
4.Stakeholder Satisfaction.
5.Performance to Business Case.
Chapter 9
time
A good way to measure this is cost, performance and time. Cost is an important aspect of any project,
yet often only considered at a cursory level. Good engineering should always strive for cost
effectiveness.
Performance is the second measure. Performance means ensuring the technical and specification
requirements of the project are realized.
Time is the final measure. All projects take time to design and things need to happen within a
reasonable time frame. While some projects are more time sensitive than other, all projects will
(should) have some form of time constraint.
Chapter 10
reasons for cost &time over runs and remedial measures
Factors affecting cost overruns were financial difficulty by client, delays in payments of completed
works, variations in designs, lack of communications plans, poor feasibility and project analysis,
poor financial management on site and material price fluctuations.
Check out the reasons for cost and time overruns in projects.
• Initiating a project even before the inputs are ready. ...
• Quoting in a hurry without having complete knowledge of the project details. Poor planning. ...
• Wrong assumptions on part of both the client and the vendor. ...
• Change of stakeholder or internal teams.

Chapter 10
Common Causes of Cost Overruns in Construction Projects

• Inaccurate Project Estimates.
• Serious Project Design Errors.
• Not Planning for Change Orders.
• Administration Errors.
• Poor Site Management.
• Not Hiring the Right Team.
Chapter 10
How can we reduce cost overruns?

Avoid the overrun:
1.Educate your project team so that they can identify scope creep.
2.Implement a change management process and stick to it.
3.Make sure project contracts allow for extra work to be carried out at an
additional cost.
Corrective Measures to Avoid Cost over-runs
1.Pay a lot of attention to project planning
2.Check a vendor’s /Contractor’s capabilities before hiring
3.Attempt to stay within the scope that was originally planned
4.Use good scheduling tools & techniques
5.Make sure the stakeholders in the project are on the same page
Chapter 11
project evaluation and control, project closeout and
termination
Meaning of Evaluation
Evaluation has its origin in the Latin word “Valupure” which means the value of a particular thing,
idea or action. Evaluation, Thus, helps us to understand the worth, quality, significance amount,
degree or condition of any intervention desired to tackle a social problem.
Meaning of evaluation:
• Evaluation means finding out the value of something.
• Evaluation simply refers to the procedures of fact finding
• Evaluation consists of assessments whether or not certain activities, treatment and interventions are
in conformity with generally accepted professional standards.
• Any information obtained by any means on either the conduct or the outcome of interventions,
treatment or of social change projects is considered to be evaluation.
• Evaluation is designated to provide systematic, reliable and valid information on the conduct,
impact and effectiveness of the projects.
• Evaluation is essentially the study and review of past operating experience
Chapter 11
termination
Purpose of Evaluation
From an accountability perspective:
The purpose of evaluation is to make the best possible use of funds by the program managers who are
accountable for the worth of their programs.
Measuring accomplishment in order to avoid weaknesses and future mistakes.
• Observing the efficiency of the techniques and skills employed
• Scope for modification and improvement.
• Verifying whether the benefits reached the people for whom the program was meant.
Form a knowledge perspective:
• The purpose of evaluation is to establish new knowledge about social problems and the
effectiveness of policies and programs designed to alleviate them.
• Understanding people’s participation & reasons for the same.
• Evaluation helps to make plans for future work.
Chapter 11
termination
Chapter 11
termination
Chapter 11
termination
Chapter 11
termination
Project termination types:-

1) Natural termination
2) Unnatural termination
Project Termination Factors
1. Low Probability
2. No Solution
3. Intellectual Property Issues
Chapter 11
termination
Varieties of Project Termination

4Ways To Close The Project
• 1. Extinction
• 2. Addition
• 3. Integration
• 4. Starvation
Chapter 11
termination
1. Extinction:
o The project may end because it has been successful and achieved its goals.
o The project may also be stopped because it is unsuccessful or has been superseded.
2. Addition:
o The project is a major success. It becomes the formal part of the parent organization.
o Transfer of the resources to the newly born division.
3. Integration:
o The project is successfully completed. The project product is integrated to the operations of the
client.
o The resources are released and distributed in the parent organization
4. Starvation:
The project is terminated by budget decrement.
Resources are taken away.
Organization don’t want to invest any more in thecurrent project.
Chapter 11
termination
Chapter 11
termination
Duties of the termination manager:
• Complete all remaining work
• Notification to & acceptance by client
• Complete documentation (accurately)
• Final payments
• Redistribute assets
• Legal Review
• Files & Records
• Follow on support
Chapter 11
termination
The practice of project close-out finalizes all project activities

completed across all phases of the project to formally close
the project and transfer the completed or cancelled project as
appropriate. Confirming the project has met all sponsor, customer, and
stakeholder requirements.
Chapter 11
termination
Gaining Harvesting the

Finishing Handing
Over the Acceptance Benefits
The Work
Product for the Reviewing How
Product
It All Went
Putting it All to Bed
Disbanding the Team

Chapter 11
termination
Closeout Paperwork
• Documentation
• Legal
• Cost
• Personnel
Chapter 11
termination
Why are Closeouts Difficult?
✓Project sign off can be a de-motivator
✓Constraints cause shortcuts on back-end
✓Low priority activities
✓Lessons learned analysis seen as bookkeeping
✓Unique view of projects

Chapter 12
project risk management , elements of project risk
management
RISK MANAGEMENT
Risk Management is a logical and systematic method of identifying,
analyzing, treating and monitoring the risks involved in any activity or
process.
It includes maximizing the results of positive risks and minimizing the
consequences of negative events.
Chapter 12
management
To manage risk we use the six risk management processes
Risk Management Planning
Risk Identification
Qualitative Risk Analysis
Quantitative Risk Analysis
Risk Response Planning
Risk Monitoring and Control
Chapter 12
management
WHY DO WE MANAGE RISK
Project problems can be reduced as much as 90% by using risk
analysis
Positives:
More info available during planning
Improved probability of success/optimum project
Negatives:
Project cut due to risk level
Chapter 12
management
RISK ANALYSIS
Risk analysis is a systematic process to estimate the level of risk for identified and approved risks.
This involves estimating the probability of occurrence and consequence of occurrence and converting
the results to a corresponding risk.
The approach used depends upon the data available and requirements levied on the project level.
The most common form of qualitative approach is the use of probability of occurrence and
consequence of occurrence scales together with a risk mapping matrix to convert the values to risk
levels.
Quantitative approaches include expected value, decision tree analysis, payoff matrices, and
modeling and simulation.
Chapter 12
management
Chapter 13
project PROCUREMENT MANAGEMENT
ELEMENTS OF PROJECT PROCUREMENT MANAGEMENT.
Project Procurement Management
The processes to purchase or acquire the products, services, or results needed from
outside the project team to perform the work
Why Procurement Management?
All projects will need to acquire some resources from outside. Not understanding the
different ways to contract could result in unnecessary risk for the project
Chapter 13
How Do We Manage Procurement?
Four processes
• – Plan Procurements
• – Conduct Procurements
• – Administer Procurements
• – Close Procurements
Chapter 13
Chapter 13
Chapter 13
Chapter 13
Chapter 14
ELEMENTS OF PROJECT QUALITY MANAGEMENT AND APPLY THEM TO THE
FINAL REPORT
Core Elements of a Quality Management System

• Customer focus.
• Leadership.
• Engagement of people.
• Process approach.
• Continuous improvement.
• Evidence-based decision making.
• Relationship management.
Chapter 14
FINAL REPORT
Chapter 14
FINAL REPORT
What is the definition of “quality” in “project quality management”?
The definition of quality is central to understanding these three processes. To be
able to define quality, you need to be clear about the meaning of the following
terms:
• Validation: assurance that the product meets the agreed-upon needs
• Verification: compliance with requirements
• Precision: repeatable measures in a tight grouping
• Accuracy: closeness of a measure to the true value
• Tolerance: range of acceptable results
Chapter 14
FINAL REPORT
How to control quality in project management?
10 ways to maintain consistent project quality
1. Define quality. Quality is ambiguous, it can mean many things. ...
2. Commit to quality. A company's commitment to quality must come from the top and be reinforced
repeatedly
3. Stick to the project requirements!
4. Manage quality.
5. Perform quality assurance.
6. Control the quality.
7. Focus on requirements. ...
8. Follow the project processes.
9. Document lessons learnedTake time for a through project de-brief
Chapter 14
FINAL REPORT
Project Closure
This is the last of the project management stages, when
the final deliverables are handed over or go live. This stage provides
you, your team and stakeholders with an opportunity to evaluate how
successful the project was and what lessons were learned during
the process.

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PROFESSIONAL MASTER IN BUSINESS

5) Closing process group:-

• 1. Develop critical path

• 2. Establish most likely time estimates

Benefits and Uses of WBS

to a workable level of detail.

underlying framework for developing both of these key management tools.

• Provides structure for identifying and sharing responsibility

• Allows team to reach consensus on who is doing what

• Let’s all stakeholders understand their responsibilities

• Translate the “what” of the WBS into the “who” of responsibility

The Purpose of a Gantt Chart:

• To illustrate the relationship between project activities & time.

• To show the multiple project activities on one chart

• To provide a simple & easy to understand representation of project

Superior project control

A project network (or project activity network) is a graphical depiction

The purpose of backward pass is to find the float.

Why floats are important in the critical path method?

How do you calculate the probability of a project on time?

What is the probability of completion of project in expected

Crashing an activity (Crashing the network): Reducing the time required to

What is your concept of cost?

Following this summary of the different types of costs are some

Management Of Group Functioning

Management Of Group Functioning

Performance reviews is a technique employed in project management

How do you monitor performance time in a project?

• Initiating a project even before the inputs are ready. ...

• Change of stakeholder or internal teams.

Common Causes of Cost Overruns in Construction Projects

How can we reduce cost overruns?

Project termination types:-

Varieties of Project Termination

The practice of project close-out finalizes all project activities

Gaining Harvesting the

Putting it All to Bed

Disbanding the Team

✓Constraints cause shortcuts on back-end

✓Low priority activities

✓Lessons learned analysis seen as bookkeeping

✓Unique view of projects

Core Elements of a Quality Management System

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