PROJECT MANAGEMENT STUDY AND REFERENCES
(These are notes from 
my study (credits to PMBOK, University of Washington, College of Global Economics and various sites listed at the external links section).  It has been very useful for PMP certification preparation and reference for PMs.

Project management is a  temporary endeavor undertaken to create a unique product or service. Project management is the application of knowledge, skills, tools and techniques to a broad range of activities in order to meet the requirements of the particular project.

Programs: Programs are generally larger in scope than projects and do not have a definitive end.

Tasks: Tasks can be secondary and support projects, or they can exist as part of ongoing operations. Tasks are often completed by an individual and may not be complex or need to be integrated with other tasks.

MAPPING OF 39 PROJECT MANAGEMENT PROCESSES

 TO THE 5 PROJECT MANAGEMENT PROCESS GROUPS
 

9 PROJECT MANAGEMENT KNOWLEDGE AREAS

 

   

PROJECT LIFE CYCLE
(
Project management Process Groups)

  1. INITIATION
  2. PLANNING
  3. EXECUTION
  4. CONTROL
  5. CLOSE-OUT

PROJECT MANAGEMENT KNOWLEDGE AREAS
Inputs: documents or documentable items that will be acted upon

Tools/techniques; Mechanism applied to the Inputs to create Outputs

Outputs; Documents or documentable items that are a result of the process

  1. Integration
    Project plan Development
    Project Plan Execution
    Integrated Change Control
  2. Scope
    Initiation
    Scope Planning
    Scope Definition
    Scope Verification
    Scope Change Control
  3. Time
    Activity Definition
    Activity Sequencing
    Activity Duration Estimating
    Schedule Development
    Schedule Control
  4. Cost
    Resource planning
    Cost estimating
    Cost budgeting
    Cost control
  5. Risk
    Risk management Planning
    Risk Identification
    Qualitative Risk Analysis
    Quantitative Risk Analysis
    Risk Response Planning
    Risk Monitoring Control
  6. Quality
    Qulity Planning
    Quality Assurance
    Quality Control
  7. Human Resource
    Organizational Planning
    Staff Acquisition
    Team Development
  8. Communications
    Communications Planning
    Information Distribution
    Performance Reporting
    Administrative Closure
  9. procurement
    Procurement Planning
    Solicitation Planning
    Solicitation
    Source Selection
    Contract Administration
    Contract Close-out

PROCESSES & Relationships

Authority= right to act

Responsibility=Obligation to act

Accountibility=being liable for actions

Power = ability to act without necessarily having a right to act
The parity principle states that authority and responsibility go hand in hand to effectively perform a task

ORGANIZATION TYPES;
 

Theory of Motivation:
 

Interpersonal aspects
 

LEADERSHIP, STYLES, THEORIES, ROLES, FUNCTION


PROJECT PLANNING HIERARCHY

    Project definition

    Organizational structure

    Objectives.

    Team member roles

    The project manager role

    Milestones

    Scope

Project Interfaces; Organizational, Technical and Interpersonal . They occur simultaneously

QUESTIONS AND TESTS
Terminology, Vocabulary
Project Closing
Additional Study
Project initiation, scope mng, implementation, Incubation, Close, WBS

EXTERNAL LINKS

Click here to join PMPREFERENCE
Click to join PMPREFERENCE

Formulas

Operating Profit; Amount of Money earned= Revenue- (direct+indirect costs)

EXPECTED VALUE =Probability * Impact

PRESENT VALUE  =FV/(1+r)n

 

EARNED VALUE MANAGEMENT SYSTEM EVMS EV brief descriptions and Formulas

PERT Weighted Average (expected time) Sandard Deviation Variance
 

SPC Statistical Process Control

MEDIAN = (TOTAL OF THE TWO CENTER DATA DIVIDED BY TWO)
MODE = (MOST REPEATED TWO DATA)
MEAN =(TOTALS OF VALUE DIVIDED BY TOTAL DATA ITEM)
RANGE = (LARGEST VALUE-SMALLEST VALUE)
MAD (Mean Absolute Deviation) = (DATA + MEAN FOR EACH, TOTAL / BY TOTAL DATA ITEM)
VARIANCE=(DATA + MEAN FOR EACH, TOTALS OF SQ2 /  BY TOTAL DATA ITEM)
SD (Standard Deviation) = ( SQ2 OF VARIANCE DATA)
Pareto Diagram 20-80 rule. data arranged in descending order of importance.

PROJECT TIME MANAGEMENT

ADM Arrow Diagramming Method: PERT and CPM Focuses on Float duration to determine which activities have the leaat scheduling flexibility

PERT Program Evaluation and Review technique; Emphasis on meeting schedules with flexibility on cost, Pessimistic, Most likely, Optimistic. Event oriented, uses Dummy, Activity On Arrow (AOA), Finish to start logical relationship, time estimates appear on arrow

Critical Path Method (CPM) ; Emphasis on cost and leaving the schedule flexible, one time estimate per activity, activity oriented, uses dummy, (AOA) Activity On Arrow, time estimates appear on Arrow

Precedence Diagram Method  (PDM) ; Activity Oriented, Represents improvement to PERT and CPM by adding lag relationship to activities, (Start to Start, Start to FInish, FInish to Start, Finish to finish) Arrow indicates dependency, Activity On Node (AON), No Dummy

GERT A network Diagram drawing method that allows loops between tasks. It is method of Sequencing

Barchart (GANTT) Effective progress reporting tool; no logical relationship shown between activities
Graphical Evaluation and Review techniques are similar to PERT but have the distinct advantages of allowing for looping, branching, and multiple project end results

ESTIMATES:

Definitive (+- 5%)

Capital Cost (+- 10% - 15%)

Appropriation ( +- 15% - 25%)

Feasibility (+_ 25% - 35 %)

Order of Magnitude ( > +- 35%)

Benefits are not profits, Benefits = Revenues/Payback
Benefit Cost ratio (BCO)=Benefits(or Payback or Revenue)/Costs
Selecet Project with HIGHER BCR, BCR of >1 means benefit is greater than cost, so it is good.

The smallest range estimate is the least risky
ANALOGOUS Estimating; Top down, based on similiar projects;Expert Judgment
Bottom Up Estimating ; Detailed cost estimates of work packages  Best overall quality of estimating
Parametric Estimating;
Relies on knowledge of Mathematical relationships. Measured in $/unit.(duration prediction is based on past average)

Key Network Scheduling Principles

Earliest start: The earliest an activity can begin based on its relationship to its predecessor's duration.

 Latest start: The latest an activity can begin and still satisfy requirements set forth by successor activities.

Earliest finish: Based on the relationship with a predecessor, the earliest an activity can be completed.

Latest finish: Based on the relationship with a successor, the latest an activity can be completed.

Float time: The amount of free time (slack time) an activity has without impacting due date of the project. FREE FLOAT same but applies to any immediatly folloving activities not the Project

Forward pass: A technique that works forwards, starting with the first node in the network, to determine earliest start and finish times.

Backward pass: A technique that works backwards, starting with the last node in the network, to determine latest start and finish times.

Programs and Tasks Versus Projects

Programs are generally larger in scope than projects and do not have a definitive end

Tasks can be secondary and support projects, or they can exist as part of ongoing operations. Tasks are often completed by an individual and may not be complex or need to be integrated with other tasks

Project is a temporary endeavor that has a beginning, a middle, and an end, only done once

The primary distinction between planning and control is that you normally use control after activities have begun.
Planning is not effective without control, and control cannot take place without a plan SEE CONTROL

 

Deliverables represent the need-satisfying outputs of a project. Deliverables are significant because of the role they play in determining if your project succeeds or fails

Stakeholders are those who enable the existence of a project. Indirect stakeholders are those who are unknowingly or unwillingly affected by your project

Brainwriting

Brainwriting is a means of increasing group participation. It is especially useful when one or more members tend to monopolize idea generation or when people are reluctant to participate

Brainstorming

Brainstorming is a way to spontaneously produce many ideas in a short period of time

"Project Crashing", the reduction of project duration by applying additional resources to labor intensive activities

Parametric modeling is reliable when
a)
the historical information used to develop the model was accurate b) the parameters used in the model are readily quantifiable
c)
the model is scalable (i.e. it works well for a large project as for a very small one

 

     
         

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