Get documents about "Ms Project Schedule - PowerPoint
W
Description
Ms Project Schedule document sample
Document Sample
Effective Project
Management
Barbara Stone & Jodie Mathies
October 4, 2007
Agenda
• Project schedule review
• MS Project demo of project schedule
building
• Critical Path
• Schedule Compression
• Critical Chain
• What are project financials?
• Why care about project financials?
• Creating a cost baseline
• MS Project example 2
What is the end goal of the
current process?
A project schedule:
• With tasks in appropriate level of
detail
• Organized so that the overall
project takes the shortest amount
of time, without over-committing
the resources
3
Steps to a project schedule
• WBS – activities and tasks
• Sequencing
• Duration estimating
• Schedule development
4
Six Criteria to Test
for WBS Completeness
• Status/Completion is measurable
• The activity is bounded
• The activity has a deliverable
• Time and cost are easily estimated
• Activity duration is within acceptable limits
• Work assignments are independent
Seventh Criteria – Project manager‟s
judgment that the WBS is not complete
5
Factoring in constraints
• Factor if multiple working on task
together? – discuss XP example.
• Also factor if do not have resource 100%
of time. Why this is a bad idea.
• Adding „Project Management‟ factor
• Do Jodie and Barbara do this?
6
Putting it all together
Tasks
+ Duration
+ Sequencing
+ Start date
= Project Schedule
Does it meet Deadline / Scope / $
constraints?
7
Gantt charts
• Best when shows task
interdependencies and resources
assigned
• Does not help organize complex
projects as effectively as WBS &
network diagrams
• Should be completed after WBS
• Effectively shows progress & time
• Widely understood communication
tool
8
Common scheduling pitfalls
• Planned downtime – calendar events,
team needs
• External interfaces – contractors,
external teams
• Constraints – duration, access, etc.
• Time to come up to speed
• 100% optimization
• Just plain missed it
9
Critical path - assesses
• What tasks must be carried out
• Where parallel activity can be performed
• The shortest time in which you can
complete a project
• Resources needed to execute a project
• The sequence of activities, scheduling and
timings involved
• Task priorities
• The most efficient way of shortening time
on urgent projects.
10
Critical path
11
Let‟s talk about „safety‟
• Within individual tasks
• At critical milestones („Critical Chain‟)
12
Critical chain
• Reduce activity duration estimate by 50%
• Eliminate resource contention by leveling
project plan
• Add resource buffers
• Size and place feeding buffers on all paths
that feed the critical chain
• Start gating tasks as late as possible
• Provide resources with activity durations
and estimated start times, not milestones
• Use buffer management to control the plan
13
Factoring in constraints
• Factor if multiple working on task
together? – discuss XP example.
• Also factor if do not have resource 100%
of time. Why this is a bad idea.
• Adding „Project Management‟ factor
• Do Jodie and Barbara do this?
14
Schedule compression
– work w/customer
• Careful, detailed planning – no
missed steps
• Customer involvement & commitment
to fast turnarounds
• Customer acceptance that initial
delivery will not be perfect
15
Schedule compression
– work with schedule
Analyze WBS
• Biggest impact on elapsed time (Pareto
80/20)
• Identify & evaluate alternate strategies
to minimize time intensive or difficult
tasks
• Consider duplicating work to reduce risk
16
Schedule compression
- universal
• Use a more experienced team
• Encourage creative solutions
• Monitor morale
• Build infrastructure well in advance
• Do proof of concept as early as
possible
• TRACK YOUR PROJECT
17
MS Project
Project Schedule demo
• WBS – activities and tasks
• Sequencing
• Duration estimating
• Schedule development – critical
path
18
Agile
19
Alternative - Agile
Project Schedule demo
20
What are project financials?
Ways that you measure the cost and value of
your project
These can be projected at the start of your project
and tracked throughout the course of your
project
The delta between the baseline and ending cost is
often used to measure the project success
21
What can be included?
• Project cost
• Benefit
• Opportunity cost
22
Project cost: Manpower
Employees often tracked hourly
• often calculated using a blended employee rate
• Sometimes tiered rates for job families
• precise hourly rates for contractors
Does this mean you need to estimate tasks at the
hourly level?
‘job of work’ contracts for vendors
23
Project cost: Other expenditures
• Materials
• Rent
• Fees
• Travel
• …what else?
Useful to think of these costs in terms of the
schedule:
• By when will you need to have the money?
• What are the associated tasks?
24
Benefit
quantified ending value of the product
of project
• profit from sales
• efficiency gained or other cost avoided
Many benefits are tricky to quantify: customer /
employee satisfaction, „better decision-making‟,
etc
25
Is this project worth it?
You can‟t always quantify the benefits as $
amounts
But when you can: ROI
Benefit of project deliverables
– cost of project
= Return on Investment
26
Opportunity cost
In an organizational setting, choosing to
undertake a project is part of overall
financial management
• What else can be done with the resources this
project would need?
• Is this project the most important use of the
resources?
27
Why do we care about project
financials?
In the real world – the bottom line matters
• money is time; time is money
• Resources are limited; need to spend them in
the best way
• Cannot understand return without costs
28
Why do we care about project
financials? (Take 2)
Because you have to.
• Some level of financial understanding of the
project is required.
• Your company / organization will most likely
have guidelines that you will need to follow
• Even if not, it behooves you to do a reasonable
level anyway
29
When do you calculate Project
financials?
• Beginning: create baseline budget
• During: track progress to baseline;
adjust budget as necessary
• End: success metric of project
30
As you go through the Planning Phase,
cost estimates‟ accuracy increases
’Class 1’ - Variance +/- 30% to 50% - High
level estimate at the Phase level.
‘Class 2’ - Variance +/- 15% to 25% - As
many details as possible.
‘Class 3’ - Variance +/- 10% - Completely
filled out as applicable.
31
Cost Estimating Tools & Techniques
• Analogous: „we did more or less the
same thing last year and it took us 6
months and cost $400K”
• Parametric: „new home construction =
$130/square foot‟ Software: Function (or
Object) Point Analysis
• Bottom-up: estimating cost of individual
tasks, then rolling up
• etc
32
Cost Budgeting tip:
Don’t forget contingency for risk
Somewhat equivalent to „safety‟ in schedule
Apply to Cost Baseline at milestone points, not
factor for every task
33
How do projects get funded?
What do I mean by ‘funded’?
Approval to use the resources required.
Projects can get funded:
• for entire project, at beginning
• incrementally, at specified points
34
35
I can hear you saying:
How does this relate to my project?
36
You have already been working on
cost elements for your project
• Time estimates for team members
‘effort’ vs ‘duration’
• Understanding purchases
• Understanding time & cost of risk
mitigation plans
37
Your cost baseline
(Effort in hours of all tasks * cost per hour)
+ Other budgeted project expenses
Project cost baseline
38
MS Project
Project Cost baseline development
39
Assignments – for next week
• Project schedule, showing WBS, project
task dependencies, functional milestones,
and critical path
• Project cost baseline, with description of
assumptions ($ / hour of team members,
etc) Be able to track over / under
budget amounts at project milestones
• Read Effective Project Management,
Chapter 12
40
Back-up slides
Cost & Schedule: 2 variables
A project can be:
• On time and on budget
• On time and under budget
• Late and on budget
• Etc
42
3rd variable: % complete
= % Work accomplished, measured in
budgeted amounts
Ex:
• total hours budgeted for project = 100
• Half of estimated work accomplished in 30
hours
• % complete = 50% 43
EVA – Earned Value Analysis
combines Cost, Schedule and %
complete variables into
performance metrics
Good way to show „project health‟, but
only as good as your initial schedule
and budget!
44
EVA Calculations
Planned value = $ amount of work you expected to
complete at this point in the project
Earned Value = $ amount of work you expected what you
have accomplished to take
Actual Cost = $ amount you have actually spent at this
point in the project
Performance metrics:
Cost Performance Index = project ratio of expected to
actual cost (EV/AC)
Schedule Performance Index = project ratio of
accomplished to planned work (EV/PV) 45
Formulas to know
• PV (BCWS) • % complete = BAC
• EV (BCWP)
• AC (ACWP) • PERT (P+4M+O)
• CV EV-AC 6
• CPI EV/AC • Standard deviation
• SV EV-PV (P-O)
• SPI EV/PV 6
• EAC BAC/CPI or • Task Variance
AC/BAC • (P-O) squared
• ETC EAC-AC 6
• VAC BAC-EAC • Present value = FV
(1+r)n
46
An example w/ MS Project
47
% Complete
Work is 70% complete 5 months along (62.5% of duration)
48
But what is the actual cost?
49
EVA Calculations
Planned value = $24,000 (62.5% of budget)
Earned Value = $26,880 (70% of budget)
Actual Cost = $34,875 (91% of budget)
CPI = .77 (bad)
SPI = 1.12 (good)
What was the priority on this project, cost or
schedule? 50
Globalization Workflow
51
Technique review
• Affinity Diagram
• Cause and effect/Ishikawa/fishbone
• Six Hats
52
Affinity diagrams
53
Cause and Effect Diagram
what is it ? what is it used for ?
• Identifying potential causes
• A Cause and Effect of a problem or issue in an
Diagram is an analysis orderly way (example: Why
tool to display possible has membership in the band
causes of a specific decreased?; why isn't the
phone being answered on
problem or condition. time?; why is the production
process suddenly producing
so many defects?)
• Summarizing major causes
under four categories (e.g.,
People, Machines, Methods,
and Materials or Policies,
Procedures, People, and
Plant)
54
Cause and Effect Diagram
benefits
• Cause and Effect Diagrams provide a
visual format which allows people to
catalog all of the ideas about factors
that may contribute to an effect.
• Can also be used as a communication
tool to describe causal factors
55
Cause and Effect Diagram
example
Reasons Why the Phone is Not Answered
56
Cause and Effect Diagram
how to construct a fishbone
1. Write the issue (problem or process condition) on the right side.
57
Cause and Effect Diagram
how to construct a fishbone
1. Identify the major cause categories and write them in the four boxes
on the Cause and Effect Diagram.
2. Brainstorm potential causes of the problem. As possible causes are
provided, decide as a group where to place them on the Cause and
Effect Diagram. It is acceptable to list a possible cause under more
than one major cause category.
4. Review each major cause category. Circle the most likely causes on
the diagram.
5. Review the causes that are circled and ask "Why is this a cause?"
Asking "why" will help get to the root cause of the problem. Ask
“why” five times.
6. Reach an agreement on the most probable cause(s).
58
Let‟s try it
Students don‟t
Lack of communication
between faculty, staff
And students
59
• Students don‟t understand how short term policy changes will
impact the long run
• Don‟t understand how they were administered before
• No history – alumni linkage communication
• No venue for administration/faculty to inform the students of what
they are discussing
• Key faculty/staff have left
• News committee decimated
• Faculty & students used to meet – meetings have been discontinued
• Don‟t feel students need to know – internal decision
• Short staffed
• No budget to hire
• Staff leave for better pay/positions
• No incentive to communicate
• No one clearly charged with communicating
• No clear delineation of areas of responsibility
• Are delegates the best people to take on
60
Related docs
Other docs by ykj12932
86 Boards Group Topics Financial Communication Responsibility Divisions Scheduled dates 2005
Views: 74 | Downloads: 0
