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16 Cards in this Set
- Front
- Back
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Project Time Management
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1 Define Activities
Identify activities constraints assumptions 2 Sequence Activities task order inter-dependencies phases and gates 3 Estimate Activity Resources resource required 4 Estimate Activity Duration time needed to implement 5 Develop Schedule analysis of patterns fine tuning 6 Control Schedule controlling changes |
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Define Activities - I-TT-O
The process of identifying the specific actions to be performed to produce the project deliverables |
Inputs
• Scope baseline • Enterprise environmental factors •Organizational process assets Tools and Techniques • Decomposition • Templates • Rolling wave planning • Expert judgment Outputs • Activity list • Activity Attributes •Milestone list |
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Sequence Activities I-TT-O
The process of identifying and documenting relationships among the project activities |
Inputs
• Activity list • Activity attributes •Milestone list • Project scope statement •Organizational process assets Tools and Techniques • Precedence diagramming method (PDM) • Dependency determination • Applying leads and lags • Schedule network template Outputs • Project schedule network diagram • Project document updates |
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Precedence diagramming method (PDM)
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Basis for Gantt charts
Most commonly used approach |
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Estimate Activity Resources I-TT-O
The process of estimating the type and quantities of material , people, equipment or supplies |
Inputs
• Activity list • Activity attributes • Resource calendars • Enterprise environmental factors •Organizational process assets Tools and Techniques • Expert judgment • Alternative analysis • Published estimating data • Bottom up estimating • Project management software Outputs • Activity resource requirements • Resource breakdown Structure • Project document updates |
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Estimate Activity Resources
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Estimate resources required
What resources are available to be allocated to each task? Sources for estimates: Personal Experience / Knowledge / Records Information from other peoples experience etc. Published information Resource Allocation Initial assumption is that we allocate “normal” resources to every activity i.e. the basic resources needed to carry out an activity in the manner which usual practice dictates and without working abnormal hours |
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Estimate Activity Durations -I-TT-O
Assessing the number of work periods likely to be needed to complete each identified activity |
Inputs
• Activity list • Activity attributes • Activity resource requirements • Resource calendars • Project scope statement • Enterprise environmental factors •Organizational process assets Tools and Techniques • Expert judgment • Analogous estimating • Parametric estimating • Three-point estimates • Reserve analysis Outputs • Activity duration estimates • Project document updates |
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PERT Method
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t = (o+4m+p)/6
Where t = the estimated time o = optimistic time m = most likely time p = pessimistic time |
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Develop Schedule I-TT-O
Process of analyzing activity sequences, duration, resource requirements and schedule constraints to create project schedule |
Inputs
• Activity list • Activity attributes • Project schedule network diagrams • Activity resource requirements • Resource calendars • Activity duration estimates • Project scope statement • Enterprise environmental factors •Organizational process Tools and Techniques • Schedule network analysis • Critical path method • Critical chain method • Resource leveling •What-if scenario analysis • Applying leads and lags • Schedule compression • Scheduling tool Outputs • Project schedule • Schedule baseline • Schedule data • Project document updates |
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The Critical Path:
The series of activities that... |
Determine the earliest possible completion
date for the project Forms the longest total anticipated duration period Can change the project completion date, if any are delayed Have total float equal to zero |
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Scheduling with RESOURCE
Constraints |
If we only have a limited resource pool and our
original assumptions were based on unlimited resources, then we have the following possibilities: Review original duration calculations Review original Network Logic Look at possible Activity overlaps Use “Float” times to “balance” resources Work additional hours with available resources Extend Project Duration |
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Control Schedule I-TT-O
Process of monitoring the status of the project to update project progress and manage changes to the schedule baseline |
Inputs
• Project management plan • Project schedule •Work performance information •Organizational process assets Tools and Techniques • Performance reviews • Variance analysis • Project management software • Resource leveling •What-if scenario analysis • Schedule comparison • Scheduling tool Outputs •Work performance measurements •Organization process assets updates • Change requests • Project management plan updates • Project document updates |
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Types of Costs
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Direct costs
Costs incurred directly by the project Readily identified Indirect costs Costs allocated to the project by the organization Cost of doing business Fixed costs Will be constant, regardless of the size of the project Variable costs Will vary in size with the size of the project Related to specific project parameters or objectives |
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Types of Costs
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Sunk cost
Cannot be recovered Costs already expended Opportunity costs Benefits not realized due to choosing a particular alternative Not a true cost, and difficult to confirm Expense Cost deducted against income for current year Related to operations Capital Costs Not an expense, depreciated over time Related to projects |
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Estimate Costs I-TT-O
Developing an approximation of the monetary resources needed to complete project activities |
Inputs
• Scope baseline • Project schedule • Human resource plan • Risk register • Enterprise environmental factors •Organizational process assets Tools and Techniques • Expert judgment • Analogous estimating • Parametric estimating • Bottom-up estimating • Three point estimates • Reserve Analysis • Cost of quality • Project management estimating software • Vendor bid analysis Outputs • Activity cost estimates • Basis of estimates • Project document updates |
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Estimate Classes
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Definitive -5% to 10%
Budget -10% to +15% Order of Magnitude -50% to 100% |
