Practical Project Management; Tips, Tactics, and Tools

Why did I choose this resource?

I chose this resource to learn more about project management and what it entails.

What did you learn from it?

I learned the different processes and procedures involved in project management as well as the different approached towards project management.

Key Knowledge

• Project Management Basics
  • NO SHORTCUTS in project management
  • Best Project Managers
    • Adjust to transforming conditions
    • Forcefully drive the project to completion
  • Project Managers are assisted on every project by:
    • Solid organizational framework
    • Skills of personnel appointed to the project
  • Work Breakdown Structure (WBS)
    • Exactly and entirely classify the work involved in the project as a whole
    • Break down the work into component tasks
    • Properly manages
      • time
      • resources
      • costs
• Planning and Control
  • Initial project focus is on basic planning and control functions
    • Workscope, time, resources, and costs
• The Planning Phase
  • Initial planning
    • Establish project objectives, define the work, determine the work timing, establish the resources, and establish the cost baseline
    • Identify work packages and tasks using the WBS
    • Determine a tentative schedule using the Critical Path Method (CPM)
  • Assign resources using a resource aggregation histogram
  • Amend original timeline into a resource-adjusted schedule
  • Pause scheduling and determine cost rates for required resources
  • Create a time-phased budget called a Cash Flow Plan (or Project Expenditure Plan) by applying the cost baseline to the resource-adjusted schedule
• Setting the Baseline
  • Identify possible problems by vigilantly reviewing the baseline schedule, resource loading plan, and budget
  • Use Critical Path software to locate spots of concern
  • Finalize a baseline plan and use it to gauge progress and costs
    • Also contains milestones and trigger points
• The Tracking Phase
  • Track work progress
    • When a task is started and completed or what percentage has been completed to date
    • Use information to perform a periodic Earned Value Analysis (multiply percentage of completed work by the budget)
      • Budget Cost of Work Performed (BCWP) compared to the Budget Cost of Work Scheduled (BCWS) equals the Schedule Variance (SV)
        • Give your progress in terms of time
      • Actual Expenditures (ACWP) compared to the earned value (BCWP) equals the Cost Variance (CV)
    • ALWAYS graph progress by comparing current data with the baseline plan
• Project Management Organization
  • The Functional Organization
    • Traditional approach, focuses on operational discipline
      • Routine work and consistent standards
  • The Project Organization
    • Organization is created with the sole purpose of accomplishing the project
    • Setbacks include
      • ineffective use of resources
      • harmful effect on institutional memory due to no continuity of personnel
  • The Matrix Organization
    • Blends the functional and project methods
    • At least two managers; functional manager and project manager
    • Used by companies who are engaged in multiple and/or overlapping projects
    • Combines benefits of project organization and institutional knowledge
  • The Teams Organization
    • Consists of a task forces or cross-functional team of specialists working full or part time on a project
    • Project manager chosen by either the senior manager or the team
    • May increase productivity, diminish cost, improve creativity, encourage strategic initiatives, and enhance project performance
• Leadership and Methodology
  • Central Project Management Office (CPO)
    • Offers project leadership, skilled project managers, and other resources and technology
    • Repository of project experience, models, and standards
    • Organizes projects across a company, assists in resource management and allocation, and monitors how various projects relate to others occurring simultaneously in the organization
  • MUST use a computer-based project management program
  • Implementation Plan
    • Directive from senior management; provides support for the project management process
    • Procedures; define the implementation process
    • Implementation Plan; shows the steps to follow and a schedule
    • Kick-Off Program; make a big deal out of the implementation

How are you using what you learned?

I am using what I learned to become more familiar with project management and be able to assist in project management responsibilities.

Key Changes / Key Actions

• Continue research on project management
• Evaluate our current project management processes and procedures

Source

• Name : Practical Project Management; Tips, Tactics, and Tools
• Author : Harvey A. Levine
• getAbstract.com: Link to Book