BEN610PROJECT MANAGEMENT PRINCIPLES

WeekFourProject TimeManagement
CRICOSNo.00213J
QueenslandUniversityofTechnology

Reminders

DevelopanoutlineforyourAssessmentItem1 BringyourlaptopstotheTutorialthisweekafterdownloadingtheExcel Bi l h T i l hi k f d l di h E l filesintheWeek4tutorialfolder Tutorialgroupcensus:Eitherattendtutorialornotifytutortoconfirmyour g p y y tutorialgroupmembership

Revision

Youareaprojectmanagerresponsiblefortheconstructionofanew officecomplex.Youaretakingoverforaprojectmanagerwhorecently leftthecompany.Thepriorprojectmanagercompletedthescope statementandscopemanagementplanforthisproject.Inyour d l f h interviewswithsomekeyteammembers,youconcludewhichofthe following?

a. a Theyunderstandthatthescopestatementassessesthestabilityofthe They understand that the scope statement assesses the stability of the projectscopeandoutlineshowscopewillbeverifiedandusedtocontrol changes.Theyalsoknowthatprojectscopeismeasuredagainsttheproduct requirements. Theyunderstandthatthescopemanagementplandescribeshowproject h d d h h l d b h scopewillbemanagedandcontrolledandhowtheWBSwillbecreatedand defined.Theyalsoknowthatproductscopeismeasuredagainstthe productrequirements. Theyunderstandthatthescopemanagementplanisdeliverablesoriented andincludescostestimatesandstakeholderneedsandexpectations.They understandthatprojectscopeismeasuredagainsttheprojectmanagement plan. plan Theyunderstandthatthescopestatementdescribeshowthehighlevel deliverablesandrequirementswillbedefinedandverified.They understandthatproductscopeismeasuredagainsttheproject managementplan. management plan

b. b

c.

d.

Anbari,F.T.(2009).Q&As forthePMBoK guide(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute.

 Whichofthefollowingistrueregardingthe projectscopestatement? project scope statement?

a. Theprojectscopestatementincludesachangecontrol systemthatdescribeshowtomakechangestothe system that describes how to make changes to the projectscope. b. Theprojectscopestatementfurtherelaboratesproject b The project scope statement further elaborates project deliverablesanddocumentstheconstraintsand assumptionsfortheproject. c. Theprojectscopestatementdescribeshowtheteamwill defineanddeveloptheworkbreakdownstructure. d. Theprojectscopestatementassessesthereliabilityof theprojectscopeanddescribestheprocessforverifying andacceptingcompleteddeliverables. d i l d d li bl
Heldman,K.(2009).PMP:ProjectManagementProfessionalStudyGuide(5thed.).Hoboken,NewJersey:Sybex.

 Whichofthefollowingmakesuptheproject scopebaseline? scope baseline?

a. Theapprovedprojectscopestatement b. TheapprovedscopemanagementplanandWBS , pp p j p , c. TheWBS,approvedprojectscopestatement, andWBSdictionary d. The approved scope management plan, the Theapprovedscopemanagementplan,the WBS,andtheWBSdictionary

Heldman,K.(2009).PMP:ProjectManagementProfessionalStudyGuide(5thed.).Hoboken,NewJersey:Sybex.

 Whichofthefollowingstatementsabout decompositionistheleasttrue? decomposition is the least true?

a. Decompositioninvolvesstructuringand organizingtheWBSsothatdeliverablesare organizing the WBS so that deliverables are alwayslistedatlevelone. b. Decomposition requires a degree of expert Decompositionrequiresadegreeofexpert judgmentandalsorequirescloseanalysisofthe p j projectscopestatement. p c. Decompositionisatoolandtechniqueusedto createaWBS. d. Decompositionsubdividesthemajor deliverablesintosmallercomponentsuntilthe workpackagelevelisreached.
Heldman,K.(2009).PMP:ProjectManagementProfessionalStudyGuide(5thed.).Hoboken,NewJersey:Sybex.

 Whi h f th f ll i i Whichofthefollowingisnotamajorstepof t j t f decomposition?

a. b. c. d. d Identifymajordeliverables. Identifyresources. Identify resources. Identifycomponents. Verifycorrectnessofdecomposition. V if t fd iti

Heldman,K.(2009).PMP:ProjectManagementProfessionalStudyGuide(5thed.).Hoboken,NewJersey:Sybex.

 Wh t l Whatalwayslimitstheoptionsoftheproject li it th ti f th j t team?
a. b. c. d. d Technology Constraints Deliverables Assumptions A ti

Heldman,K.(2009).PMP:ProjectManagementProfessionalStudyGuide(5thed.).Hoboken,NewJersey:Sybex.

 D Describefourorfivecriteriaforjudgingthe ib f fi it i f j d i th qualityofaWBS?

Anbari,F.T.(2009).Q&As forthePMBoK guide(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute.

 WhatdoesthePMBoK regardasthefive primaryprocessesinmanagingscope? primary processes in managing scope?

Anbari,F.T.(2009).Q&As forthePMBoK guide(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute.

 WhichofthefollowingistrueabouttheVerify Scopeprocess? p p
a. Itistheprocessofformalizingacceptanceofthe completedprojectdeliverables. b. Isnotnecessaryiftheprojectcompletesontime andwithinbudget. c. Occursprimarilywhenrevisionsorchangesare madetoprojectscope. d. Scopeverificationisprimarilyconcernedwith correctnessofthedeliverables,whilequalitycontrol isprimarilyconcernedwithacceptanceofthe is primarily concerned with acceptance of the deliverablesandmeetingthequalityrequirements specifiedforthedeliverables. p
Anbari,F.T.(2009).Q&As forthePMBoK guide(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute.

 Inafewwordsdescribethefundamental differencesbetween verifyscope and differences between verify scopeand qualitycontrol.Findtherelevantreference inthePMBoK. i h PMB K

 Whichofthefollowingisnotanoutputof theControlScopeprocess? the Control Scope process?

a. b. c. d. Workperformancemeasurements. Changerequests. j p Projectdocumentupdates. Accepteddeliverables

Anbari,F.T.(2009).Q&As forthePMBoK guide(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute.

ProjectTimeManagement j g

Purpose: To accomplish timely completion of the project.

15 ProjectManagementInstitute.(2008).Aguidetotheprojectmanagementbodyofknowledge(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute, pp.129164

ProjectTimeManagement j g

Purpose: To accomplish timely completion of the project.

16 ProjectManagementInstitute.(2008).Aguidetotheprojectmanagementbodyofknowledge(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute, pp.129164

ConferencePlanningHierarchicalBreakdown

OfficeofGovernmentCommerce.(2009).ManagingsuccessfulprojectswithPRINCE2.London:TheStationeryOffice,p.279

ProductFlowDiagram(orLogicNetwork)

OfficeofGovernmentCommerce.(2009).ManagingsuccessfulprojectswithPRINCE2.London:TheStationeryOffice,p.283

LinkingWBSandSchedule Linking WBS and Schedule

Taylor,J.C.(2008).ProjectschedulingandcostcontrolPlanning,monitoringandcontrollingthebaseline.FortLauderdale,Florida:J.Ross.

ProjectManagementInstitute.(2008).Aguidetotheprojectmanagementbodyofknowledge(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute, p.131

Theprocessofidentifyingthespecificactionstobeperformedto Th f id tif i th ifi ti t b f dt producetheprojectdeliverables.

ProjectManagementInstitute.(2008).Aguidetotheprojectmanagementbodyofknowledge(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute, pp.129164

Theprocessofidentifyinganddocumentingrelationshipsamongthe Th f id tif i dd ti l ti hi th projectactivities.

ProjectManagementInstitute.(2008).Aguidetotheprojectmanagementbodyofknowledge(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute, pp.129164

EstimationTechniqueswill becoveredinWeek5as partofCostManagement Theprocessofestimatingthetypeandquantitiesofmaterial, Th f ti ti th t d titi f t i l people,equipment,orsuppliesrequiredtoperformeachactivity.

ProjectManagementInstitute.(2008).Aguidetotheprojectmanagementbodyofknowledge(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute, pp.129164

Theprocessofapproximatingthenumberofworkperiodsneededto completeindividualactivitieswithestimatedresources. l t i di id l ti iti ith ti t d

ProjectManagementInstitute.(2008).Aguidetotheprojectmanagementbodyofknowledge(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute, pp.129164

Theprocessofanalyzing activitysequences,durations,resource requirements,andscheduleconstraintstocreatetheproject requirements, and schedule constraints to create the project schedule.

ProjectManagementInstitute.(2008).Aguidetotheprojectmanagementbodyofknowledge(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute, pp.129164

Theprocessofmonitoringthestatusoftheprojecttoupdateproject Th f it i th t t f th j tt d t j t progressandmanagingchangestotheschedulebaseline.

ProjectManagementInstitute.(2008).Aguidetotheprojectmanagementbodyofknowledge(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute, pp.129164

Example1

DefineActivities
Task Duration Start A B C D E F Finish Dependencies

Milosevic, D. Z. (2003). Project Management Toolbox: Tools and Techniques for the Practising Project Manager. Hoboken, New Jersey: John Wiley &28 Sons, p. 189

SequenceActivities Sequence Activities

Task Duration Start A B C D E F Finish Dependencies Start St t A A B, C B, C D, D E F

Milosevic, D. Z. (2003). Project Management Toolbox: Tools and Techniques for the Practising Project Manager. Hoboken, New Jersey: John Wiley &29 Sons, p. 189

Start

SchedulingConstraints Scheduling Constraints

Finish

FS
Start Finish

FinishtoStart(FS)
ActivityAmustFinish beforeActivityBStarts y y
Start Finish

A
SS

Start

Finish

StarttoStart(SS)
ActivityAmustStart beforeActivityAcanStart Activity A must Start before Activity A can Start

Newell,M.W.(2002).Preparingfortheprojectmanagementprofessionalcertificationexam(2nded.).NewYork,NewYork:AMACOM,Chap.2

SchedulingConstraints Scheduling Constraints

Start Finish

A
FF

Start

Finish

FinishtoFinish(FF)
ActivityAmustFinish beforeActivityAcanFinish Activity A must Finish before Activity A can Finish
Start Finish

A
SF

Start

Finish

StarttoFinish(SF)
ActivityAmustStart beforeActivityBcanFinish
Newell,M.W.(2002).Preparingfortheprojectmanagementprofessionalcertificationexam(2nded.).NewYork,NewYork:AMACOM,Chap.2

LeadsandLags
Start Finish

FS+4w
Start Finish

FinishtoStart+4weeks(FS+4w)
Lag:ActivityAmustFinish for4weeksbeforeActivityBStarts
Start Finish

A
Start

FS4w

Finish

Finish to Start 4weeks(FS 4w) Finishto Start 4 weeks (FS4w)

Lead:ActivityAmustbewithin4weeksofFinish beforeActivityBStarts

EstimateActivityDurations Estimate Activity Durations

Task Start A B C D E F Finish Duration 0 6 9 8 4 6 6 0 Dependencies Start St t A A B, C B, C D, D E F

Milosevic, D. Z. (2003). Project Management Toolbox: Tools and Techniques for the Practising Project Manager. Hoboken, New Jersey: John Wiley &33 Sons, p. 189

NetworkDiagrams Network Diagrams

Arrow on Node ArrowonNode
Task T k B Task T k D

Start

Task A

Task F

Finish

Task C

Task E

NetworkDiagrams Network Diagrams

Arrow on Arrow ArrowonArrow
E 3 B 1 A D 2 5 6 7 8 F 9

C 4

NoteDummyActivitiesrepresentedbydottedlines Note Dummy Activities represented by dotted lines

ForwardPass Forward Pass

C l l CalculatetheEarlyStart(ES)andEarlyFinish(EF) h l S ( S) d l i i h( ) datesforuncompletedportionsoftheall networkactivities t k ti iti Determinedbyworkingforwardsthroughthe networkdiagram AssumingAoN,
EarlyStartdateisdeterminedbythemaximumtime durationpathleadingtothenode EarliestFinishdate=EarlyStartdate+ActivityTime Duration

ForwardPass Forward Pass

ES LS
Task T k B Task T k D

EF LF

Start

Task A

Task F

Finish

Task C

Task E

ForwardPass Forward Pass

6 15 15 19

B9

D4

21

27

Start

A6

F6

Finish

14

C8

E6

15

21

BackwardPass Backward Pass

CalculationofLateFinish(LF)datesandLateStart (LS)datesforuncompletedactivities Determinedbyworkingbackwardsthroughthe networkdiagram network diagram AssumingAoN
LateFinishdateisdeterminedbytheminimumtime hd d db h durationpathleadingbackwardsfromthefinishdate LateStartdate=LateFinishdate ActivityTime Duration

BackwardPass Backward Pass

6 6
B9

15 15
D4

15 17

19 21

0 0

6 6
A6

21 21 F6

27 27

6 7

14 15

C8

E6

15 15

21 21

CriticalPath Critical Path

FloatorSlack:
Amountoftimethatascheduleactivitycanbe y delayedfromitsESdateorEFdatewithout delayingtheprojectfinishdate y g p j Float=LF EF=LS ES

FloatCalculation Float Calculation

Arrow on Node ArrowonNode
Slack=0
B9

Slack=2 19 21 Slack=0

6 6

15 15 Slack 0 Slack =0
D4

15 17

0 0

6 6
A6

21 21 F6

27 27

Slack=1 6 7 14 15
C8 E6

Slack=0 15 15 21 21

CriticalPath Critical Path

CriticalPath
Thelongestpaththroughtheprojector g p g p j Thesequenceofactivitiesthatdeterminesthe durationoftheproject duration of the project

FindingtheCriticalPath
Tracethepathofactivitieshavingzerofloat

CriticalPath Critical Path

Arrow on Node ArrowonNode
Slack=0
B9

Slack=2 15 17 19 21 Slack=0

6 6

15 15 Slack 0 Slack =0
D4

0 0

6 6
A6

21 21 F6

27 27

Slack=1 6 7 14 15
C8 E6

Slack=0 15 15 21 21

GanttChartandCriticalPath Gantt Chart and Critical Path

Download
Example1Template.xlsx p p

FillintheGanttChart/CriticalPathtemplateto reflecttheactivitydurationsand reflect the activity durations and dependencies Templateacceptsthreepointestimates; however,assumethatO,MandPestimates however, assume that O, M and P estimates areequal

GanttChartandCriticalPathTemplate

GanttChartandCriticalPathAnswer

GanttChartandCriticalPathAnswer

MicrosoftProjectGantt Microsoft Project Gantt

MicrosoftProjectDetailedGantt Microsoft Project Detailed Gantt

Example2

EstimateActivityDurations
Task Start A B C D E F Duration 0 weeks 5 weeks 10 weeks 15 weeks 10 weeks 20 weeks 10 weeks Dependencies
Predecessors: n/a Successors: A B A, Predecessors: Start Successors: C, D Predecessors: Start Successors: C, D Predecessors: A, B , Successors: F Predecessors: A,B Successors: E Predecessors: D Successors: F Predecessors: C, E P d C Successors: Finish Predecessors: F Successors: n/a

Finish 0 weeks

Milosevic, D. Z. (2003). Project Management Toolbox: Tools and Techniques for the Practising Project Manager. Hoboken, New Jersey: John Wiley &52 Sons, p. 189

Complete Network Diagram p g

B, ?

Start, 0

F, ?

Finish, 0

A, ?

Legend

Z, 5
Activity Z with duration 5 days

Milosevic, D. Z. (2003). Project Management Toolbox: Tools and Techniques for the Practising Project Manager. Hoboken, New Jersey: John Wiley &53 Sons, p. 189

CompletedNetworkDiagram p g
B, 10 D, 10 E, 20

Start, 0

F, 10

Finish, 0

A, 5

C, 15

Legend

Z, 5
Activity Z with duration 5 days

Milosevic, D. Z. (2003). Project Management Toolbox: Tools and Techniques for the Practising Project Manager. Hoboken, New Jersey: John Wiley &54 Sons, p. 189

ForwardPass Forward Pass

C l l CalculatetheEarlyStart(ES)andEarlyFinish(EF) h l S ( S) d l i i h( ) datesforuncompletedportionsoftheall networkactivities t k ti iti Determinedbyworkingforwardsthroughthe networkdiagram AssumingAoN,
EarlyStartdateisdeterminedbythemaximumtime durationpathleadingtothenode EarliestFinishdate=EarlyStartdate+ActivityTime Duration

ForwardPass
0 10 10 20 B, 10 0 0 0 0 Start, 0 Finish, 0 D, 10 E, 20

F, 10

A, 5

C, 15

Legend
Early Start (ES)

Forward pass to determine ES and EF 10 25 Early Finish (EF) Late Finish (LF)

Z, 5
Late Start (LS) Activity Z with duration 5 days 25 40 Backward pass to determine LS and LF

Milosevic, D. Z. (2003). Project Management Toolbox: Tools and Techniques for the Practising Project Manager. Hoboken, New Jersey: John Wiley &56 Sons, p. 189

ForwardPass
0 10 10 20 20 40 B, 10 0 0 0 0 Start, 0 Finish, 0 D, 10 E, 20 40 50 50 50

F, 10

A, 5

C, 15

Legend
Early Start (ES)

Forward pass to determine ES and EF 10 25 Early Finish (EF) Late Finish (LF)

10

25

Z, 5
Late Start (LS) Activity Z with duration 5 days 25 40 Backward pass to determine LS and LF

Milosevic, D. Z. (2003). Project Management Toolbox: Tools and Techniques for the Practising Project Manager. Hoboken, New Jersey: John Wiley &57 Sons, p. 189

BackwardPass Backward Pass

CalculationofLateFinish(LF)datesandLateStart (LS)datesforuncompletedactivities Determinedbyworkingbackwardsthroughthe networkdiagram network diagram AssumingAoN
LateFinishdateisdeterminedbytheminimumtime hd d db h durationpathleadingbackwardsfromthefinishdate LateStartdate=LateFinishdate ActivityTime Duration

BackwardPass
0 10 10 20 20 20 40 40 B10 0 0 0 0 Start, 0 D, 10 E 20 40 40 50 50 50 50 50 50

F, 10

Finish, 0

A, 5

C, 15

Legend
Early Start (ES)

Forward pass to determine ES and EF 10 25 Early Finish (EF) Late Finish (LF)

10 25

25 40

Z, 5
Late Start (LS) Activity Z with duration 5 days 25 40 Backward pass to determine LS and LF

Milosevic, D. Z. (2003). Project Management Toolbox: Tools and Techniques for the Practising Project Manager. Hoboken, New Jersey: John Wiley &59 Sons, p. 189

CriticalPath Critical Path

FloatorSlack:
Amountoftimethatascheduleactivitycanbe y delayedfromitsESdateorEFdatewithout delayingtheprojectfinishdate y g p j Float=LF EF=LS ES

DetermineSlackorFloat
0 0 10 10 10 10 20 20 20 20 40 40 B, 10 0 0 0 0 Start, 0 D, 10 E, 20

Slack=10 Slack = 10
40 40 50 50

Slack=0 Slack = 0
50 50 50 50

F, 10

Finish, 0

A, 5

C, 15

Legend
Early Start (ES)

Forward pass to determine ES and EF 10 25 Early Finish (EF) Late Finish (LF)

0 5

5 10

10 25

25 40

Z, 5
Late Start (LS) Activity Z with duration 5 days 25 40 Backward pass to determine LS and LF

Slack=15
Milosevic, D. Z. (2003). Project Management Toolbox: Tools and Techniques for the Practising Project Manager. Hoboken, New Jersey: John Wiley &61 Sons, p. 189

DetermineSlackorFloat
Slack=0
0 0 10 10 10 10 20 20 20 20 40 40

Slack=0 Slack=0 Slack = 0

40 40 50 50

Slack=0 Slack=0
0 0 0 0 Start, 0 B, 10 D, 10 E, 20

Slack=0 Slack = 0
50 50 50 50

F, 10

Finish, 0

A, 5

C, 15

Legend
Early Start (ES)

Forward pass to determine ES and EF 10 25 Early Finish (EF) Late Finish (LF)

0 5

5 10

10 25

25 40

Z, 5
Late Start (LS) Activity Z with duration 5 days 25 40 Backward pass to determine LS and LF

Slack=5

Slack=15

Milosevic, D. Z. (2003). Project Management Toolbox: Tools and Techniques for the Practising Project Manager. Hoboken, New Jersey: John Wiley &62 Sons, p. 189

CriticalPath Critical Path

CriticalPath
Thelongestpaththroughtheprojector g p g p j Thesequenceofactivitiesthatdeterminesthe durationoftheproject duration of the project

FindingtheCriticalPath
Tracethepathofactivitieshavingzerofloat

NetworkDiagramCriticalPath
0 0 10 10 10 10 20 20 20 20 40 40 B, 10 0 0 0 0 Start, 0 D, 10 E, 20 40 40 50 50 50 50 50 50

F, 10

Finish, 0

A, 5

C, 15

Legend
Early Start (ES)

Forward pass to determine ES and EF 10 25 Early Finish (EF) Late Finish (LF)

0 5

5 10

10 25

25 40

Z, 5
Late Start (LS) Activity Z with duration 5 days 25 40 Backward pass to determine LS and LF

Milosevic, D. Z. (2003). Project Management Toolbox: Tools and Techniques for the Practising Project Manager. Hoboken, New Jersey: John Wiley &64 Sons, p. 189

GanttChartandCriticalPath Gantt Chart and Critical Path

Download
Example2Template.xlsx p p

FillintheGanttChart/CriticalPathtemplateto reflecttheactivitydurationsand reflect the activity durations and dependencies Templateacceptsthreepointestimates; however,assumethatO,MandPestimates however, assume that O, M and P estimates areequal

GanttChartandCriticalPathTemplate

GanttChartandCriticalPathAnswer

GanttChartandCriticalPathAnswer

MicrosoftProjectGantt j

69

MicrosoftGanttDetailedGantt Microsoft Gantt Detailed Gantt

ExpertJudgementThreePointEstimate
MostLikely(ormode)(M) Most Likely (or mode) (M)

Average=(P+4*M+O)/6
P Probability
Pessimistic(P)

Cost($)

Optimistic(O)

Example3Example1withThree PointEstimates
Task Task A Task B Task T kC Task D Task E Task F Optimistic 25 30 35 15 27 25 Most Likely 30 45 40 20 30 30 Pessimistic 40 55 60 40 35 40

Example3Solution

Example3Solution

Example4SameConstraintsasExample2ButwithThree PointEstimates

Task Task A Task B Task C Task D Task E Task F

Optimistic 20 45 75 45 80 45

Most Likely Pessimistic 25 35 50 60 100 140 50 60 100 120 50 55

Example4Solution

Example4Solution

 Whatisthemanagementsignificanceofthe p criticalpath? Canfloatbenegative?Ifsowhatdoesthis mean? Canthecriticalpathchangeandwhatarethe consequences?

ScheduleCompression Schedule Compression

F t T ki FastTracking
Convertsequencedtasksintoparalleltasks e.g.Technologyinsertion g gy Butmayincreaserisk

Crashing
Reducingthedurationofoneormoreactivitiesonthecritical d i h d i f i ii h ii l path Onlycriticalpathtasks;reducingthedurationofothertasks withintheirfloatisnugatory Dontbeoverlyambitious:onetaskatatimeandincremental reductions Willprobablydemandgreaterresourcesandwillincrease projectcost

Taylor,J.C.(2008).ProjectschedulingandcostcontrolPlanning,monitoringandcontrollingthebaseline.FortLauderdale,Florida:J.Ross.

Schedule Compression p
Sh Shortening the schedule without i h h d l ih impacting the scope Fast tracking
Phases normally undertaken in sequence are restructured in parallel

Crashing
Cost and schedule tradeoffs to obtain the greatest amount of compression with the least incremental cost
80

Other Tools and Techniques q

Resource Levelling
Takes into account the finite resource pool May reallocate resources from non-critical to critical activities ti iti

What-If Analysis
E E.g. Using M t C l analysis U i Monte Carlo l i

Critical Chain
R l i l new b emerging technique to id if Relatively but i h i identify the resource constrained critical path Takes a schedule rather than an activity focus Progress measured relative to time and resource p pp p juncture in schedule buffers placed at appropriate j
81

ResourceLevelling Resource Levelling

Taylor,J.C.(2008).ProjectschedulingandcostcontrolPlanning,monitoringandcontrollingthebaseline.FortLauderdale,Florida:J.Ross.

StatisticsRefresher Statistics Refresher (Week4orWeek5) (Week 4 or Week 5)

Return1

84

Return2

85

NoteContractionofScale

Return3

86

Return4

87

QuestionsOnReturns Questions On Returns

Whichreturnistheriskiest? Whichreturnisthesafestorleastrisky? Which return has the greatest potential for gain? Whichreturnhasthegreatestpotentialforgain? Which return has the greatest potential for loss? Whichreturnhasthegreatestpotentialforloss? Whichreturnhastheleastpotentialforgain? Whichreturnhastheleastpotentialforloss?
88

WhichDistributionPresentstheGreatestRisk? Which Distribution Presents the Greatest Risk?

P robability

Returns

Probability

Returns

89

Riskless
Probability y

Returns

Low Risk
Probability

Returns

High Risk
Probability

Returns

90

TheDemingRedBeadGame Th D i R d B d G

TriangularDistributionActivityDuration Min=8,MostLikely=10,Max=14
Activity Duration or Cost Estimate
8.77 0.35 0.30 0.25
Triang(8,10,14)

12.90 90.0% 5.0%

5.0%

0.20 0.15 0 15 0.10 0.05 0.00 10 11 12 13 14 15 7 8 9

Minimum Maximum Mean M Std Dev

8.0000 14.0000 10.6667 10 6667 1.2472

93

QuestionMean Question Mean

Ifthemeanprojectestimateis10.67 If the mean project estimate is 10 67 then whatisthemeanestimateoftenactivities?

94

QuestionRisk Question Risk

If5%and95%confidencelevelsoftheprojectcostare8.7 If 5% and 95% confidence levels of the project cost are 8 7 and12.9, then whatarethe5%and95%confidencelevelsofaportfolio h t th 5% d 95% fid l l f tf li consistingoftensuchprojects?

95

96

DiceExample:DiceSimulation.xlsx Dice Example: DiceSimulation xlsx

97

Example:PortfolioRisk.xlsx Example: PortfolioRisk xlsx

98

Example:PortfolioRisk.xlsx Example: PortfolioRisk xlsx

99

ProbabilityDistributionPortfolioDurationorCost Probability DistributionPortfolio Duration or Cost

100

Tutorial

TaskNo 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Start

Task

Duration 0days 5days 17days 17days 10days 10days 10days 10days 17days 8days 6days 12days 15days 0days

StartDate 23/08/20108:00 23/08/20108:00 30/08/20108:00 30/08/20108:00 30/08/20108:00 13/09/20108:00 30/08/20108:00 13/09/20108:00 23/08/20108:00 23/08/20108:00 13/09/20108:00 27/09/20108:00 13/10/20108:00 2/11/201017:00

FinishDate 23/08/20108:00 27/08/201017:00 21/09/201017:00 21/09/201017:00 10/09/201017:00 24/09/201017:00 10/09/201017:00 24/09/201017:00 14/09/201017:00 1/09/201017:00 20/09/201017:00 12/10/201017:00 2/11/201017:00 2/11/201017:00

Predecessor

Raisescaffolding Guttering(north) Guttering(south) Insulation(north) Roofcovering(north) Insulation(south) Roofcovering(south) Birdcagescaffolding Brickworklobbyroof Insulation(flat) Covering(flat) Rooflightinstallation Atriumwatertight

2 3 3 3 6 3 8 2 2 6 7,9,12 13,10 14
102

103 Winch,G.M.(2002).ManagingConstructionProjects.Oxford:BlackwellPublishing,p.275

104 Winch,G.M.(2002).ManagingConstructionProjects.Oxford:BlackwellPublishing,p.275

CreatinganIntegrated(Hierarchical)MasterSchedule

105

ForWeek5 For Week 5

Please read PMBoK Chapters (Essential) PleasereadPMBoK Chapters(Essential):
7:ProjectCostManagement

Youshouldhavefinalisedyouroutlineandbegun writingAssessmentItem1byWeek5

Answers

Youareaprojectmanagerresponsiblefortheconstructionofanew officecomplex.Youaretakingoverforaprojectmanagerwhorecently leftthecompany.Thepriorprojectmanagercompletedthescope statementandscopemanagementplanforthisproject.Inyour d l f h interviewswithsomekeyteammembers,youconcludewhichofthe following?

a. a Theyunderstandthatthescopestatementassessesthestabilityofthe They understand that the scope statement assesses the stability of the projectscopeandoutlineshowscopewillbeverifiedandusedtocontrol changes.Theyalsoknowthatprojectscopeismeasuredagainsttheproduct requirements. Theyunderstandthatthescopemanagementplandescribeshowproject h d d h h l d b h scopewillbemanagedandcontrolledandhowtheWBSwillbecreated anddefined.Theyalsoknowthatproductscopeismeasuredagainstthe productrequirements. Theyunderstandthatthescopemanagementplanisdeliverablesoriented andincludescostestimatesandstakeholderneedsandexpectations.They understandthatprojectscopeismeasuredagainsttheprojectmanagement plan. plan Theyunderstandthatthescopestatementdescribeshowthehighlevel deliverablesandrequirementswillbedefinedandverified.They understandthatproductscopeismeasuredagainsttheproject managementplan. management plan

b. b

c.

d.

Anbari,F.T.(2009).Q&As forthePMBoK guide(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute.

 Whichofthefollowingistrueregardingthe projectscopestatement? project scope statement?

a. Theprojectscopestatementincludesachangecontrol systemthatdescribeshowtomakechangestothe system that describes how to make changes to the projectscope. b. The project scope statement further elaborates project Theprojectscopestatementfurtherelaboratesproject deliverablesanddocumentstheconstraintsand assumptionsfortheproject. c. Theprojectscopestatementdescribeshowtheteamwill defineanddeveloptheworkbreakdownstructure. d. Theprojectscopestatementassessesthereliabilityof theprojectscopeanddescribestheprocessforverifying andacceptingcompleteddeliverables. d i l d d li bl
Heldman,K.(2009).PMP:ProjectManagementProfessionalStudyGuide(5thed.).Hoboken,NewJersey:Sybex.

 Whichofthefollowingmakesuptheproject scopebaseline? scope baseline?

a. Theapprovedprojectscopestatement b. TheapprovedscopemanagementplanandWBS , pp p j p , c. TheWBS,approvedprojectscopestatement, andWBSdictionary d. The approved scope management plan, the Theapprovedscopemanagementplan,the WBS,andtheWBSdictionary

Heldman,K.(2009).PMP:ProjectManagementProfessionalStudyGuide(5thed.).Hoboken,NewJersey:Sybex.

 Whichofthefollowingstatementsabout decompositionistheleasttrue? decomposition is the least true?

a. Decompositioninvolvesstructuringand organizingtheWBSsothatdeliverablesare organizing the WBS so that deliverables are alwayslistedatlevelone. b. Decomposition requires a degree of expert Decompositionrequiresadegreeofexpert judgmentandalsorequirescloseanalysisofthe p j projectscopestatement. p c. Decompositionisatoolandtechniqueusedto createaWBS. d. Decompositionsubdividesthemajor deliverablesintosmallercomponentsuntilthe workpackagelevelisreached.
Heldman,K.(2009).PMP:ProjectManagementProfessionalStudyGuide(5thed.).Hoboken,NewJersey:Sybex.

 Whi h f th f ll i i Whichofthefollowingisnotamajorstepof t j t f decomposition?

a. b. c. d. d Identifymajordeliverables. Identifyresources. Identify resources. Identifycomponents. Verifycorrectnessofdecomposition. V if t fd iti

Heldman,K.(2009).PMP:ProjectManagementProfessionalStudyGuide(5thed.).Hoboken,NewJersey:Sybex.

 Wh t l Whatalwayslimitstheoptionsoftheproject li it th ti f th j t team?
a. b. c. d. d Technology Constraints Deliverables Assumptions A ti

Heldman,K.(2009).PMP:ProjectManagementProfessionalStudyGuide(5thed.).Hoboken,NewJersey:Sybex.

 WhichofthefollowingistrueabouttheVerify Scopeprocess? p p
a. Itistheprocessofformalizingacceptanceofthe completedprojectdeliverables. b. Isnotnecessaryiftheprojectcompletesontime andwithinbudget. c. Occursprimarilywhenrevisionsorchangesare madetoprojectscope. d. Scopeverificationisprimarilyconcernedwith correctnessofthedeliverables,whilequalitycontrol isprimarilyconcernedwithacceptanceofthe is primarily concerned with acceptance of the deliverablesandmeetingthequalityrequirements specifiedforthedeliverables. p
Anbari,F.T.(2009).Q&As forthePMBoK guide(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute.

 Inafewwordsdescribethefundamental differencesbetween verifyscope and differences between verify scopeand qualitycontrol.Findtherelevantreference inthePMBoK. i h PMB K Page123

 Whichofthefollowingisnotanoutputof theControlScopeprocess? the Control Scope process?

a. b. c. d. Workperformancemeasurements. Changerequests. j p Projectdocumentupdates. Accepteddeliverables

Anbari,F.T.(2009).Q&As forthePMBoK guide(4thed.).NewtownSquare,Pennsylvania:ProjectManagementInstitute.