University:
California State University, Northridge
Course:
SOM 466 | Project Management
Academic year:

2014
Views:

345

Pages:

22
Author:

beddgell23k

Project Time and Cost Management Part 1       List several planning processes and outputs for project time and cost management Describe the six project time management planning processes, and prepare an activity list and attributes, milestone list, project schedule network diagram, activity resource requirements, activity duration estimates, and project schedule Understand how to find the critical path and its implications on timely project completion Explain the concept of critical chain scheduling and how it can be used in healthcare organizations Discuss the three project cost management planning processes Create a cost estimate, cost baseline, and project funding requirements 2 Knowledge area Project time management Planning process Plan schedule management Define activities Sequence activities Estimate activity resources Estimate activity durations Develop schedule Project cost management Plan cost management Estimate costs Determine budget Outputs Schedule management plan Activity list Activity attributes Milestone list Project schedule network diagrams Project documents updates Activity resource requirements Resource breakdown structures Project documents updates Activity duration estimates Project documents updates Schedule baseline Project schedule Schedule data Project calendars Project management plan updates Project documents updates Cost management plan Activity cost estimates Basis of estimates Project documents updates Cost baseline Project funding requirements Project documents updates 3  Project time management involves the processes required to ensure timely completion of a project  The main documents produced are a schedule management plan, an activity list and attributes, a milestone list, a project schedule network diagram, the activity resource requirements, the activity duration estimates, and a project schedule 4  The purpose of this process is to determine the policies, procedures, and documentation for planning, developing, managing, executing, and controlling the project schedule.  The project team holds meetings, consults with experts, and analyzes data to help produce a schedule management plan, which becomes a component of the project management plan. 5  The goal of the defining activities process is to ensure that project team members have a complete understanding of all the work they must do as part of the project scope so that they can start scheduling the work  An activity is a distinct, scheduled portion of work performed during the course of the project 6  The activity list is a tabulation of activities to be included on a project schedule  It should include the activity name, an activity identifier or number, and a brief description of the activity  The activity attributes provide schedule-related information about each activity, such as predecessors, successors, logical relationships, leads and lags, resource requirements, constraints, imposed dates, and assumptions related to the activity  Both should be in agreement with the WBS and WBS dictionary and be reviewed by key project stakeholders 7 All work required for a deliverable is included in its sub-deliverables 8 9 ACTIVITY LIST AND ATTRIBUTES Project Name VAPR Project Activity Number Activity Name Details Predecessors Successors Logical Relationships Leads and Lags Resource Requirements Constraints Imposed Dates Assumptions 1.5.1.5 Conduct facilitated workshops Cross-discipline workshop to work out differences in user report requirements. 1.5.1.4 Analyze user requirements gathered in focus groups 1.5.1.6 Write draft report requirements document finish-to-start (FS) None Clinical analyst, trained facilitator, data analyst Must be conducted before 7am or after 5pm to accommodate physician schedules None Physicians and nurses and respiratory therapists will have different and incongruent requirements. It will require a facilitated work to align and integrate their needs. 10  A milestone is a significant event in a project  It often takes several activities and a lot of work to complete a milestone, but the milestone itself is like a marker to help identify necessary activities  There is usually no cost or duration for a milestone  Project sponsors and senior managers often focus on major milestones when reviewing projects  Sample milestones for many projects include: ◦ Sign-off of key documents ◦ Completion of specific products ◦ Completion of important process-related work, such as awarding a contract to a supplier 11 VAPR MILESTONES Milestone Project kickoff meeting held IHI bundle & data sources identified Database developed Report requirements identified Online reports completed Clinical workflows designed Training curriculum developed Training delivered Go live Estimated Date June 1 July 15 August 20 October 1 December 30 February 15 April 15 May 30 June 15 12  The SMART criteria suggest that milestones should be: ◦ ◦ ◦ ◦ ◦  Specific Measureable Assignable Realistic Time-framed You can also use milestones to help reduce schedule risk by following these best practices: ◦ Define milestones early in the project and include them in the Gantt chart to provide a visual guide ◦ Keep milestones small and frequent ◦ The set of milestones must be all-encompassing ◦ Each milestone must be binary, meaning it is either complete or incomplete ◦ Carefully monitor the milestones on the critical path* *Luc K. Richard, “Reducing Schedule Risk, Parts 1 and 2,” (www.Gantthead.com) (November 10, 2003 and January 31, 2005). 13  Sequencing activities involves reviewing the activity list and attributes, project scope statement, and milestone list to determine the relationships or dependencies between activities  A dependency or relationship relates to the sequencing of project activities or tasks ◦ For example, does a certain activity have to be finished before another one can start? ◦ Can the project team do several activities in parallel? ◦ Can some overlap?  Sequencing activities has a significant impact on developing and managing a project schedule 14  Mandatory dependencies are inherent in the nature of the work being performed on a project ◦ You cannot hold training classes until the training materials are ready  Discretionary dependencies are defined by the project team ◦ A project team might follow good practice and not start detailed design work until key stakeholders sign off on all of the analysis work  External dependencies involve relationships between project and nonproject activities ◦ The installation of new software might depend on delivery of new hardware from an external supplier. Even though the delivery of the new hardware might not be in the scope of the project, it should have an external dependency added to it because late delivery will affect the project schedule 15  Network diagrams are the preferred technique for showing activity sequencing  A network diagram is a schematic display of the logical relationships among, or sequencing of, project activities ◦ In the activity-on-arrow (AOA) approach, or the arrow diagramming method (ADM), activities are represented by arrows and connected at points called nodes (starting and ending point of an activity) to illustrate the sequence of activities; only show finish-to-start dependencies (most common type of dependency) ◦ The precedence diagramming method (PDM) is a network diagramming technique in which boxes represent activities. These are more widely used as they can show all dependency types 16 17  Keep in mind that the network diagram represents activities that must be done to complete the project; it is not a race to get from the first node to the last  Every activity on the network diagram must be completed for the project to finish  Not every item on the WBS needs to be on the network diagram; only activities with dependencies need to be shown on the network diagram 18 1. Find all of the activities that start at Node 1. Draw their finish nodes, and draw arrows between Node 1 and each of those finish nodes. Put the activity letter or name on the associated arrow. If you have a duration estimate, write that next to the activity letter or name 2. Continue drawing the network diagram, working from left to right. Look for bursts and merges ◦ Bursts occur when two or more activities follow a single node ◦ A merge occurs when two or more nodes precede a single node 3. Continue drawing the AOA network diagram until all activities with dependencies are included on the diagram 4. As a rule of thumb, all arrowheads should face toward the right, and no arrows should cross on an AOA network diagram. You might need to redraw the diagram to make it look presentable 19 Distinguishing Factor Line information Node shape Activity information Line shape Line direction Activity on Arrow Represents activities & precedence Circle shape Only duration typically shown Straight Always moves rightward Activity on Node Represents precedence Box shape Often includes duration, start date, end date, and assigned resource Utilize right angles Can move backwards, depending upon relationship (FF, FS, SF, SS) 20 21 22

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