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Operations Management: Project Management
Transcript of Operations Management: Project Management
Projects are temporary and help to meet organizational goals and to respond quickly and easily to the external environment.
help to change operations, products and services to gain competitive advantage and respond to new markets.
2. Five Phases of Project Management
3. Difference between Projects and Operations
4. Project Scheduling
5. Task Dependencies
6. Resource Allocation and Management
7. Resource Planning
8. Comprehensive Project Budget
9. Project Changes
11. Time Tracking
5 Basic Phases of Project Management
1. Project conception and initiation
2. Project definition and planning
3. Project launch or execution
4. Project performance and control
5. Project close
Difference between Operations and Projects
all work and/or efforts performed within an organization are characterized as either operations or projects
Projects: unique, temporary endeavors with a specific beginning and end
Operations: an organization's on-going, repetitive activities
In any organization, only two aspects of work exist—on-going operations and projects
Projects are initiated by organizations for a variety of reasons
is the tool that communicates
what work needs to be performed
which resources of the organization will perform the work
the timeframes in which that work needs to be performed
Work Breakdown Structure (WBS)
hierarchal reflection of all the work in the project
decomposition of a project into smaller components
tree structure showing a subdivision of effort required to achieve an objective
Product Development Activity List
Task Dependencies in Project Management
relationships among tasks which determine the order in which activities need to be performed
Land must be purchased before road building can start
Road excavating must start before Asphalt can be laid
Laying Asphalt must be complete before line painting can be completed
Road excavating must start before line painting can be completed
Resource Allocation and Management
resources of an organization: people, materials, equipment, knowledge and time
resource allocation plan: important tool in effective management of scarce resources
timing of the need of those resources can be and should be determined within the project schedules
as the project schedule changes, the resource plan must also be flexible enough to adjust as these changes occur
known knowns, unknown knowns, unknown unknowns
schedule that is as detailed as possible for the information known, and
the types of resources needed for each task
single task owner on each task
The work package 'project management' has been identified as a level of effort (LOE) activity
individual(s) which are assigned to that activity will perform different activities during the full time of the project
Level of effort is best used when individuals are 100% allocated to the project
Types of resource plans
One is hypothetical, based on resource type set without any resource constraints
A hypothetical schedule based only on the resource types needed produces a hypothetical resource plan
Resource type refers to the skill set that a task needs for finishing
The other is an actual resource plan, based on actual resource availability
a reflection of project work and the timing of that work
a comprehensive budget gives management an understanding of how money will be used over time for projects or operations
the better you identify all the work of the project within your schedule and the types of resources necessary to complete the work effectively, the more accurate your budget will be
Building the Planned Project Budget
Work Breakdown Structure (WBS) is the basis for any budget
efforts used in producing the deliverable of each task can be defined in terms of cost (labor, materials, facilities, services, overhead)
early on in the project life cycle, planned costs may be developed
key role of the project manager: build consensus from the team and sponsor on each of the WBS task elements
A cost baseline is an approved time phased plan, it is the tool for measuring how project changes affect our schedule and budget.
When the organization itself is asking for a re-estimation of all projects for corporate budgeting purposes, the financial team may request the most up to date estimates on the project even if the scope has not changed
A change in
A 'significant' gap in one or more task estimates has been identified. Significant re-estimates must be communicated to project sponsors, and may warrant re-setting the baseline of the project. In this case, the original baseline should be retained as historical information.
Successful project managers effectively manage changes through the use
of change control boards (CCB)
Their purpose is to review and prioritize changes presented during the course
of the project
Categories of changes
1. Changes that are necessary in order to meet the objectives of the project.
2. Changes that were not part of the original scope, but are approved by the CCB along with the associated approved change in schedule and budget.
3. Changes that were not part of the original scope. The assessment of the CCB reported that these requests are not required in achieving the project objectives.
Accurate project cost capturing provides an organization with an invaluable amount of data for decision-making
Difficulties in time tracking