Project Management

Be Smart, Work S.M.A.R.T.

Vaqif0000 — Sun, 11 Dec 2016 11:37:41 GMT

Having whole stages implemented in a nice way does not mean to finish the project in a qualitative way. There is an approach to measure steps, periods, objectives and consequences of the project, and here SMART goals come first to the mind. SMART is an acronym for Specific, Measurable, Agreed upon, Realistic, and Time. It is mostly used to increase the chances of being effective at the project. Besides, it is always implemented after the project scope has been defined.

Let’s think of a final exam of the Project Management Course. It is similar to studying hard and getting an A from the final exam. You are studying to your midterms, have good graded quizzes and homework, and have all those realistic results that convince you that you can actually get an A at the end. In order to come to that successful outcome, you take specific steps that will guide you to the result. For instance, you take notes; specifically, do whatever is needed to improve your current action, which we can compare it to specific part of SMART. Here it comes as S. Subsequently, you take some measurements; perhaps, give up on your social life to prevent future difficulties, such as procrastinating before exams. That is M of the SMART. Afterwards, you make sure that your professor is aware of your responsibility and you are a good listener at the class to make sure that you are at the same page. That is an “A” of the SMART, which you are dreaming of. J Everything should be done on time, if not, you can lose points on midterm and easily lose the chance of getting A and it would be realistic to dream an “A” after all. Now, let’s talk about SMART goals in a detailed way.

Critical Path Method

Vaqif0000 — Fri, 09 Dec 2016 22:17:19 GMT

The critical path method, or CPM, was developed by DuPont, to analyse the process of shutting down plants for maintenance, then restarting them at the end of the maintenance cycle. The process involved in this was so complicated, that the critical path method had to be developed to identify and prioritise the vital activities. Similar to a Gantt chart, the CPM provides a graphical representation of the project, and the times expected to complete each activity. However, the CPM does not fix the start and end times of each activity; rather it is used to determine the activities which fall on the critical path. The critical path is the path where all activities directly follow each other, and hence there is no idle time. As such, the length of the critical path determines the total time taken for the project.

The main difference between CPM and the Gantt chart is that CPM displays the activities as single nodes, with the dependencies as lines connecting the nodes. As such, the CPM shows all the paths and dependencies which will be followed throughout the project. This allows project managers to determine which paths will have some idle time, and which will be critical to the final project completion time, thus enabling project managers to prioritise resources to the critical path.

Steps in the CPM

1. Identify the individual tasks required
2. Identify any dependencies, and hence the sequences of tasks
3. Draw a network diagram to represent these tasks.
4. Obtain estimates of the time each task will take
5. Identify which path is the critical path: usually the path with the longest duration
6. Keep the network diagram and critical path up to date throughout the project

Identifying the individual tasks is generally done from the work breakdown structure. This enables a list of all tasks to be constructed. This list can also be used to determine which activities are dependent on others. The network diagram is constructed starting with the activities which have no dependencies. From these activities, lines can be drawn to indicate the activities which depend on them, and then the next stage of activities and so on, until the final activities are known. The time each task is likely to take can be estimated from previous projects, extrapolated from the technical requirements of the task, or simply estimated by an subject matter expert. The time estimates do not include any potential uncertainty or delays, and hence will generally consist of conservative estimates.

Once the network has been completed, the critical path can be determined. This path is the one with the longest total duration of all activities. As this path has the longest duration, it will correspond to the length of the project, and any delays to the critical path will hence delay the project. The critical path is determined by finding the earliest start time, earliest finish time, latest start time and latest finish time for all activities, based on the requirements of other activities. For example, the first activity in the project will have earliest and latest start times of 0, and the earliest and latest start times will be the duration of the project. The earliest start and finish times for other tasks will then depend on the speed at which all the preceding activities can be completed. This can be used to find the earliest start and finish time for all tasks in the project. The latest start and finish times can then be identified from the latest time that tasks would have to start and finish to avoid delaying the task in front of them. Most tasks will have some difference between their earliest and latest times, as tasks ahead of them will depend on other tasks that finish later. However, there will be one path through the network where the earliest and latest times are all the same. This is the critical path.

However, it is important to note that the CPM does not allow any uncertainty in duration of the tasks, or in the project completion time. Whilst this makes the analysis and path analysis simpler, it does not reflect real life, where tasks may be delayed, or may be completed ahead of schedule. This uncertainty limits the extent to which CPM is useful in the real world.

Achieving Excellent Project Time Management

Vaqif0000 — Fri, 09 Dec 2016 22:09:12 GMT

Considering life, time is a unit of measurement since all events occur within its intervals. In fact, no two recurrent activities in history can be absolutely described without due reference to it. For instance, when intercontinental events such as the Olympics, Fédération Internationale de Football Association (FIFA) world cup and Wimbledon are occur repeatedly in the same location, they are mainly referenced based on their years or dates of occurrence. Again, time is generally an independent resource which we spend and can never retrieve –we can only attempt to compensate for it presently or in future. Therefore, in achieving project objectives and producing deliverables, time is a critical constraint to which all human resource must be sensitive.

[1]When customers, sponsors and other stakeholders outside an active project team appraise the team or their projects highly, they often adjudge them based on the team’s ability to maximally influence the main constraints of time, cost, scope and quality. This suggests that a team’s collective ability to produce the totality of expected deliverables in a satisfactory manner at a friendly budget within the appropriate schedule is what qualifies them as an ace project team; not the presence of a few highly-skilled or vastly-experienced individuals. While it is true that the presence of an effective project manager makes a team prone to being more successful, most successful teams are actually constituted by members who each understand the overall effect of working in proximity to planned schedule. If a team of fourteen members contain seven persons that are variously certified by PMI as CAPM®, PMP® and PMI-RMP® credential holders and these individuals apply and transfer the knowledge obtained from the consulted editions of the Guide to Project Management Body of Knowledge (PMBOK® Guide) across the entire team, the likelihood of the team’s overall success will escalate as the factor of time will be handled more efficiently.

Dynamic project managers and team leads adequately imbibe the schedule management tools and techniques recognized in the PMBOK® Guide and consciously influence their subordinates to do likewise. Great team members are persons who always desire to keep the disparity between planned project time and the actual work durations minimal. They demonstrate a working knowledge of the flow of work. They understand how the duration of each preceding activity affects its successor and can proactively predict their resulting effects on the overall project length. However, this does not overrule the ultimate responsibility incumbent on project managers to verify the appropriate completion of work packages. Rather, it fosters the probability of keeping the time expended in actualizing the deliverables at relative parity with the pre-planned durations and schedule baseline.

[2]Diverse tools are available to hasten and enhance the project manager’s scheduling job. From the use of scheduling software to the application of the various techniques supplied in the PMBOK® Guide, the project manager is equipped to develop & control a schedule baseline. While applying their preferred time management tools, the project management team must also extrapolate the effects of unforeseeable factors and anticipate the potential need to create workarounds in the project’s future. The strike actions of the national labor union or a body of professionals who belong to a regulated industry from which project inputs will be sourced may have a strong negative influence on the project duration. Hence, in planning the project schedule, the project management team needs to be efficiently optimistic, pessimistic and moderate. If applicable, a default lost time injury frequency rate (or assumed man-hours that may be lost due to any work-related injury or illness experienced by a project human resource) should be set and factored into the schedule. Seasoned project managers and schedule management professionals know that the pragmatic side of time management is different from paper work and varies with the overall efficiency of all teams members. So, they always keep track of the time management ability of each individual and grouped human resource based on work packages. This explains why some project managers persist in building time consciousness in their human resource during the “develop project team” process.

[3]Taking further efforts to ensure that each team member understands the importance of their work packages and receives a clear outline of all work activities is another useful approach. The responsibility of obtaining news and continually researching information that impact project activities may even be delegated to a singular resource. Sometimes, having a resource that regularly interfaces with journalists, security personnel or even the organization’s media and communications department may help the project team to keep abreast of all the external activities that are pertinent to their project. This will help reinforce the coordinative efforts of the project management office and bridge the effects of communication gaps between the central office and its project units. In the end, if the project team is entirely time-conscious and truly open to new ideas, the likelihood to perform well in project schedule management augments accordingly.

List of References
1-Passenheim, Olaf. Project Management. Olaf Passenheim & Ventus Publishing ApS. 2009.
2-A Guide to the Project Management Body of Knowledge, (PMBOK® Guide)–Fourth edition. 3-Project Management Institute, Inc. Pennsylvania, 2008.

Creating a Project Budget: What You Need to Know

Vaqif0000 — Fri, 09 Dec 2016 21:48:04 GMT

Creating a Project Budget: What You Need to Know

When starting a project, it is difficult to know how much it will cost. Project managers are held to account for their budget estimates and with so much uncertainty in projects, it can be one of the project managers' greatest challenges.

The ability to create an accurate budget is an essential skill for a project manager. It can be a daunting task, especially for new project managers; however, once you have created your first budget, you will have an approach to use, and it will become easier for future projects.

Budgeting Basics¹

There are two main approaches you can take when creating a budget:

Top-down approach: deciding how much the project will cost and dividing the amount between the work packages.
Bottom-up approach: estimating the total cost of the project by costing the lowest-level work packages and rolling up.

Both approaches have their advantages and disadvantages and as a project manager, you will be faced with both at some time in your career. Let's take a look at each approach in more detail:

Top-Down Budgeting Approach²

The decision is made, often by senior management, about how much the project should cost. This amount is divided between the work packages. Keep in mind that this approach is more than guessing; you need to explain how you will do the work within the allocated amount of budget for each work package. Prior experience from other projects will play a part in validating the budget allocation for work packages. It should be asked whether the budget looks realistic based on experience from past projects.

The advantage of the top-down budgeting approach is that it focuses on achieving the project within the budget allocated and leads to efficiencies and reduction in wasteful practices.

A disadvantage of the top-down budgeting approach is that it assumes that the person creating the budget has enough knowledge and expertise to make a reasonable cost estimate. If they do not, conflict may occur when a person required to execute the project is given an unrealistic budget that is insufficient to deliver the project. There is a risk of deliberately low budgets created with the belief that it will encourage cost savings.

Bottom-Up Budgeting Approach²

The team, often involving the final budget holder, identify the tasks and activities needed to complete the project. The project is based on the lowest-level work packages and rolled up to arrive at the total project cost. The direct and indirect costs are calculated for each work package.

The advantage of the bottom-up budgeting approach is its accuracy (as long as you have not missed any task or activity). It is good for team morale because the project manager involves the team in budget creation. This approach is sometimes called participative budgeting for this reason.

A disadvantage of the bottom-up budgeting approach is the difficulty in getting a full list of tasks and activities needed to complete the project. It is easy to miss some that will be needed and that will later throw the budget out.

References:

1-https://www.projectsmart.co.uk/my-budget-is-10-percent-over-now-what.php

2-http://www.projectmanagementdocs.com/blog/managing-costs-on-your-project.html#axzz4RyGLPQBU

Logical Framework Approach

Vaqif0000 — Fri, 09 Dec 2016 21:36:43 GMT

The Logical Framework Approach (LFA) is a highly effective strategic planning and project management methodology with wide application. It is particularly valuable for water management and sanitation projects, especially because water ― the resource base ― has diverse and competing uses. It comprises an integrated package of tools for analysing and solving planning problems and for designing and managing their solutions (the approach). The product of this analytical approach is the logframe (the matrix), which summarises what the project intends to do and how, what the key assumptions are, and how outputs and outcomes will be monitored and evaluated.

The Logical Framework Approach (LFA) is an analytical process and set of tools used to support project planning and management. According to the World Bank (2000), “the Logical Framework has the power to communicate the essential elements of a complex project clearly and succinctly throughout the project cycle. It is used to develop the overall design of a project, to improve the project implementation monitoring and to strengthen periodic project evaluation” (see also participatory monitoring and evaluation). It provides a set of interlocking concepts which are used as part of an iterative process to aid structured and systematic analysis of a project or programme idea (EUROPEAN COMMISSION 2004).

LFA is best started early in activity design, and should be thought as an ‘aid to thinking’. It allows information to be analysed and organised in a structured way, so that important questions can be asked, weaknesses identified and decision makers can make informed decisions based on their improved understanding of the project rationale, its intended objectives and the means by which objectives will be achieved (EUROPEAN COMMISSION 2004). A frequent problem with the application of the logframe approach is that the planning process and the preparation of the matrix are carried out separately from the project proposal or the budget, resulting in inconsistencies between the contents of the logframe matrix and the description of the project contained in the narrative of the main documents. Therefore, the application of the LFA should come first, and then provide the needed information for completing the other required documents.

There is a clear distinction between the Logical Framework Approach and the Logical Framework Matrix. The first refers to the steps involved in planning and designing the project. These steps include a stakeholder analysis, cause-effect analysis, objectives analysis, and alternatives analysis culminating in the design of the project. The matrix, which summarises the final design of the project, usually comprises 16 frames organised under 4 major headings (SALDANHA and WITTLE 2002).

Organizational Structure

Vaqif0000 — Fri, 09 Dec 2016 21:26:14 GMT

A functional organization is one where the functional managers have all the power. Here's an example: most software companies have the programmers reporting to a development manager, who is responsible for hiring/firing, reviews, salaries, and also assigning work to the developers. There's often someone with the title "project manager", but this person really only takes down notes at status meetings and does bookkeeping -- but has no actual authority to plan projects, assign work or manage changes. We call that role a project expeditor, and the person filling that role usually reports directly to the functional manager. Any power he or she has is explicitly delegated. All project management decisions need to be cleared with the functional manager, and the only "project management" tasks are simple administrative work. From the perspective of the PMP exam, this is the least effective kind of organization. A matrix organization is one where the team reports to a functional manager, but there is also a project manager who has authority to manage the project and lead the team. There are three kinds of matrix organizations: - In a weak matrix, the project manager is usually a part-time role. In many cases, the project manager is really a project coordinator, which is more of an administrative role (like the project expeditor) but does have some limited authority over the project and usually reports to a higher-level manager. The budget is controlled by the functional manager, and all major project decisions must be cleared with the functional manager. - In a balanced matrix, the project manager is a full-time role with more authority. Project decisions and budget responsibilities are shared between the functional manager and the project manager -- the project manager needs to clear decisions with the functional manager, but the functional manager also needs to clear decisions with the project manager. - In a strong matrix, the project manager has more authority over the project than the

functional manager. The functional manager's role is more concerned with making sure the team members' professional development and organizational needs are met, while the project manager makes the bulk of the project-related decisions and generally doesn't need to get the functional manager's approval for them. Of the three matrix organizations, this is the most desirable one. Finally, a projective organization is one where the project manager has full authority, and if there is a functional manager he has very limited authority. Many consulting companies and construction companies are set up like this, where a team is put together specifically for one contract or job, reports to the project manager for the duration of the project, and then the team is dissolved (and, when the team members are contracted individually, they are no longer part of the organization). The project manager has complete authority to assign work to the team, work with the budget, manage changes, and carry out all project management processes.

Scope management

Vaqif0000 — Fri, 09 Dec 2016 21:20:43 GMT

Once you have a complete understanding and appreciation of your project requirements,
including the acceptance criteria, you will have the foundation to produce your work breakdown
structure
Before progressing to the work breakdown structure you need to define the scope of the project
from the project requirements and charter. The scope document provides a detailed description
of exactly what your project objective is, its deliverables, exclusions, and acceptance criteria.
On completion of your project scope statement you can begin to focus on the detailed aspects of
your planning and communications. A key part of any project is planning and anticipating
request for changes, your scope must describe how you will handle such requests.
Your project scope statement also defines the project teams roles and responsibilities, allocating
a specified individual per role, as well as the level, format and circulation of the project
documentation and reports.
Now you are ready to produce your work breakdown structure. This breaks down the project
deliverables into manageable portions of work packages that you allocate a unique id to. This is
commonly shown in a graphical form, such as an organizational style chart or a fishbone
diagram.
This process of breaking work down is referred to as 'decomposition' and enables you to estimate
costs and activity with a greater degree of accuracy. These details are recorded in your WBS
dictionary and form the basis of your scope baseline.
his plan will show how you will plan, prioritize, track and report these requirements. It also
documents the policies, procedures and processes that the project must adhere to. In addition it
explains the interactions between functions, service level agreements and their compliance.
Descriptions of any assumptions and constraints are included along with quality, performance,
support and security needs of your project
Once you have your scope you need to gain formal acceptance of the project deliverables by the
stakeholders and on their agreement your project scope is verified. Any changes or alterations
that arise after this sign off of the scope must adhere to your project's integrated change control
process.
The final aspect of verifying your project scope is the description of how the inevitable changes
to the project scope will be controlled. It is essential that you have strict controls over the change
request process, other wise you could suffer from 'scope creep’. This is where unacceptable or
unqualified risks get introduced into your project often causing project failure in one form or
anther. This can be missing key milestones or over spending against your budget.
Work performance data (as shown below) along with the project plan and the requirements
documentation are the three things that you must have to control over your projects scope.

Determining Project Budget

vaqifxasayev97 — Wed, 07 Dec 2016 20:48:41 GMT

Having a thorough budget the project manager can make better decisions regarding the constraints (time, cost and scope) to successfully complete the project while satisfying stakeholders’ needs and understanding the implications on the PM schedule and resource allocation. For example, the project budget helps determine what the scope items should be included in the PM plan and which items should be removed from this document. Alternatively, if one of the key constraints is to complete a project before a specified date, then the project budget will help you determine the degree of schedule crashing permitted so that you can deliver the project on-time.

Project budget management is a process of formally identifying, approving and paying the costs or expenses incurred on the project. Project budget management involves using purchase order forms to state each set of project expenses, such as training, consulting services, equipment and material cost, etc. Usually in the process, the project manager plays the role of “Approver” (a person who approves a budget for a project) and the finance unit (e.g. Finance Department) acts as a “Recorder” (an organizational unit that tracks and audits budgeting activities and reports to the project manager). Project budget management engages the performing organization in defining the roles and responsibilities of all parties involved in managing budget activities by undertaking the process of determining budget.

The implementation of the project budget determining process requires some initial information that is called “inputs”. Such inputs will be used as a foundation for taking the listed process steps. The following budget determining inputs can be considered:

Activity Cost Estimates provide a cost estimate for each work package (a set of individual activities) within the WBS. Estimates Basis shows all details on cost estimates and specifies the basic decisions regarding the inclusion or exclusion of indirect project costs. Scope Baseline includes the scope statement, the WBS and WBS dictionary allowing determining the project budget in accordance with the cost estimates per work package. Project Schedule is a component of the project management plan and it reflects planned start and finish dates for the project activities, milestones, time-frames for individual activities and work packages, and auditing calendars. The information in Project Schedule is used to develop a cost schedule that indicates when the costs are planned to be incurred. Procurement Contracts are used to determine the project budget considering all costs incurred and associated with products and services purchased from vendors and suppliers. Resource Calendars are used to investigate information on resource assignments and allocation of working time assigned to the resources.

The process results in the following:

Cost Performance Baseline: The process allows setting the cost performance baseline that gives a formal time-phased budget for estimating, tracking and controlling the overall cost performance of the project. The cost performance baseline is an aggregation of all budgets approved by time period.

Project Funding Requirements: The process results in identification of the requirements for the total project funds. The cost baseline and the management contingency reserve amount will be covered by the requirements.

Project Document Updates: The process of project budgeting is a critical activity that involves updates of relevant project documents, such as Project schedule, Risk Register, project cost estimates.

Reference:

http://www.project-management-skills.com/project-budgeting.html

Work Breakdown Structure

vaqifxasayev97 — Wed, 07 Dec 2016 20:48:03 GMT

Work breakdown structure (or WBS) is a hierarchical tree structure that outlines your project and breaks it down into smaller, more manageable portions. The goal of a WBS is to make a large project more manageable. Breaking it down into smaller chunks means work can be done simultaneously by different team members, leading to better team productivity and easier project management overall¹. Creating WBS enables to have accurate assignments of responsibilities to the project team, it indicates of project milestones and control points, allows to estimate the cost, time and risk, and also, illustrates the project scope.

Basically, WBS has a necessary role for attaining success in project management because as I mentioned above it serves many advantages which leads to accomplish the project with the most efficient way. Thus, the work breakdown structure allows project managers plan and monitor their work successfully. A project is characterized by time-limited activities and is assigned fixed time frames and costs. When it is finished, a project must fulfill the stakeholder needs it was designed to address. The project management has to plan for the schedule, the fixed costs and the functional completeness of the project and assign responsibilities. In this case, the WBS helps make this planning consistent and provides for effective project execution.

Moreover, as an important part of project management is to assign responsibility for the work. With a WBS, the project management assigns responsibility for each of the tasks. So, the task manager is accountable for completing the full scope of the project on time, within the budget and with all of its planned functionality intact. Thereby, within these processes, the WBS facilitates the execution and also monitoring of the project which allows to maintain accomplishment of the project. Therefore, WBS is the significant part of scope planning in order to guarantee project success.

References:

https://www.wrike.com/project-management-guide/faq/what-is-work-breakdown-structure-in-project-management/

Scope Management in Project Management

vaqifxasayev97 — Wed, 07 Dec 2016 20:46:54 GMT

To begin with, scope management initially compasses establishing the scope plan which illustrates how the scope of the project will be defined and conducted throughout the project processes. This involves the project manager, the project sponsor, the project team members, the selected stakeholders, and also others who are accountable for any of the scope management processes. In order to create the scope plan, the processes basically include the collecting requirements, defining scope, and creating work breakdown structure (abbreviated WBS). The main input to this process is the project charter, and the two main outputs are the scope plan itself and the requirements management plan.¹

Specifically, as a first step, collecting requirements is the procedure that we determine and document the requirements needed to accommodate all project objectives. The foundation of this process is the project charter and stakeholder register. The project charter provides a preliminary definition of roles and responsibilities, and the project objectives. From these, the team can identify requirements, collaboratively discuss the details associated with meeting each requirement, conduct interviews and follow-on discussion to elucidate the requirements, and document the requirements in sufficient detail to measure them. This documentation also presents as an input to the next step in the process which is to define scope.

Furthermore, as the second step, defining scope is critical to project success as it requires the development of a detailed project description to include deliverables, assumptions, and also constraints and establishes the framework within which project work must be performed.

Moreover, successively, creating WBS breaks project deliverables down into progressively smaller and more manageable components which, at the lowest level, are called work packages. This hierarchical structure allows for more simplicity in scheduling, costing, monitoring, and controlling the project.

To finalize, as a result, the scope plan demonstrates how the scope will be defined, developed, monitored, controlled, and verified.² Thus, scope management enables to avoid the challenges that the project might face, and it clearly sets out what is or is not included in the project, and controls what gets added or removed as the project is executed. Thereby, scope management establishes control mechanisms to address factors that may result in changes during the project life-cycle.

References:

http://www.free-management-ebooks.com/faqpm/scope-03.htm
http://www.projectmanagementdocs.com/project-planning-templates/scope-management-plan.html#axzz4OeCYY4qL