...did not participate in the development of this product. Integration Management Process Name Develop Project Charter Inputs Outputs Tools and Techniques Project Statement of Work Business Case Project Charter Experts Judgment Project Management Plan Experts Judgment Project Management Plan Approved Change Requests Deliverables Work Performance Information Experts Judgment Project Management Information System Enterprise Environmental Factors Change Requests Organizational Process Assets Project Management Plan Updates Contracts Enterprise Environmental Factors Organizational Process Assets Develop Project Management Plan Project Charter Outputs From Planning Processes Enterprise Environmental Factors Organizational Process Assets Direct and Manage Project Execution Project Document Updates Project Management Plan Performance Reports Change Requests Project Management Plan Updates Enterprise Environmental Factors Monitor and Control Project Work Experts Judgment Project Document Updates Organizational Process Assets Project Management Plan Work Performance Information Change Requests Status Updates Project Management Plan Updates Change Requests Perform Integrated Change Control Experts Judgment Change Control Meetings Project Document Updates Enterprise Environmental Factors Organizational Process Assets Close Project or Phase Project Management Plan ...
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...stakeholder's needs and expectations. Finalizing all activities across all Process Groups to formally complete the project or phase Project Management Plan Accepted Deliverables Organizational Process Assets Expert Judgment Tool & Techniques Outputs Inputs Inputs Project Statement of Work Business Case Contract (when applicable) Enterprise Environmental Factors Organizational Process Assets Tool & Techniques Outputs Expert Judgment 4.6 Close Project or Phase Closing Process Group 4.1 Develop Project Charter Initiating Process Group Final Product, Service, or Result Transition Organizational Process Assets Updates Project Charter Reviewing all change requests, approving, and managing changes to deliverables, org process assets, documents, and the PM Plan Project Management Plan Work Performance Information Change Requests Enterprise Environmental Factors Organizational Process Assets Expert Judgment Change Control Meetings Tool & Techniques Inputs Documenting actions necessary to define, prepare, integrate, and coordinate all other plans Project Charter Inputs Outputs from Planning Processes Enterprise Environmental Factors Organizational Process Assets Tool & Techniques Outputs Expert Judgment 4.5 Perform Integrated Change Control Monitoring & Controlling Process Group 4.2 Develop Project Management Plan Change Request Status Updates Project Management Plan Updates Project Document Updates Outputs 4. Project Integration Management Planning Process...
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...Project Cost Control Tools & Techniques Jason Owens, jason@jasonowens.com Scott Burke Matthew Krynovich DJ Mance Last Updated: 1/15/07 Project Cost Control Tools & Techniques Introduction Contributors: Owens, Jason, jason@jasonowens.com Burke, Scott Krynovich, Matthew Mance, DJ The formatting and minor edits of this document have been updated since its original creation. Contact information for some of the contributing authors has been removed for reasons of privacy and in no way indicates a lesser degree of contribution. All project team members have contributed equally to this paper. Copyright © 2007 All rights reserved. No part of this document may be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without written permission. Jason Owens, jason@jasonowens.com Page 2 of 26 Project Cost Control Tools & Techniques Introduction Executive Summary This paper reviews certain tools and techniques that can be used in order to help those responsible for managing a project to potentially better control and manage project costs. The aspects of life-cycle costing are presented and opportunities for optimizing cost management are presented. Finally, a table summarizing the recommendations are presented in the conclusion. Jason Owens, jason@jasonowens.com Page 3 of 26 Project Cost Control Tools & Techniques Introduction Table of Contents Executive Summary ............................
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...Project Management Institute A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Fifth Edition Licensed To: Jorge Diego Fuentes Sanchez PMI MemberID: 2399412 This copy is a PMI Member benefit, not for distribution, sale, or reproduction. Library of Congress Cataloging-in-Publication Data A guide to the project management body of knowledge (PMBOK® guide). -- Fifth edition. pages cm Includes bibliographical references and index. ISBN 978-1-935589-67-9 (pbk. : alk. paper) 1. Project management. I. Project Management Institute. II. Title: PMBOK guide. HD69.P75G845 2013 658.4’04--dc23 2012046112 ISBN: 978-1-935589-67-9 Published by: Project Management Institute, Inc. 14 Campus Boulevard Newtown Square, Pennsylvania 19073-3299 USA Phone: +610-356-4600 Fax: +610-356-4647 Email: customercare@pmi.org Internet: www.PMI.org ©2013 Project Management Institute, Inc. All rights reserved. “PMI”, the PMI logo, “PMP”, the PMP logo, “PMBOK”, “PgMP”, “Project Management Journal”, “PM Network”, and the PMI Today logo are registered marks of Project Management Institute, Inc. The Quarter Globe Design is a trademark of the Project Management Institute, Inc. For a comprehensive list of PMI marks, contact the PMI Legal Department. PMI Publications welcomes corrections and comments on its books. Please feel free to send comments on typographical, formatting, or other errors. Simply make a copy of the relevant page of the book, mark the error, and...
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...Project Management Institute A GUIDE TO THE PROJECT MANAGEMENT BODY OF KNOWLEDGE (PMBOK® Guide)—Fourth Edition 30, 0HPEHU &RS\ ² 1RW IRU 5HSURGXFWLRQ RU 'LVWULEXWLRQ An American National Standard ANSI/PMI 99-001-2008 ISBN: 978-1-933890-51-7 Published by: Project Management Institute, Inc. 14 Campus Boulevard Newtown Square, Pennsylvania 19073-3299 USA. Phone: +610-356-4600 Fax: +610-356-4647 E-mail: customercare@pmi.org Internet: www.pmi.org ©2008 Project Management Institute, Inc. All rights reserved. “PMI”, the PMI logo, “PMP”, the PMP logo, “PMBOK”, “PgMP”, “Project Management Journal”, “PM Network”, and the PMI Today logo are registered marks of Project Management Institute, Inc. The Quarter Globe Design is a trademark of the Project Management Institute, Inc. For a comprehensive list of PMI marks, contact the PMI Legal Department. PMI Publications welcomes corrections and comments on its books. Please feel free to send comments on typographical, formatting, or other errors. Simply make a copy of the relevant page of the book, mark the error, and send it to: Book Editor, PMI Publications, 14 Campus Boulevard, Newtown Square, PA 19073-3299 USA. To inquire about discounts for resale or educational purposes, please contact the PMI Book Service Center. PMI Book Service Center P.O. Box 932683, Atlanta, GA 31193-2683 USA Phone: 1-866-276-4764 (within the U.S. or Canada) or +1-770-280-4129 (globally) Fax: +1-770-280-4113 E-mail: book.orders@pmi.org Printed in the...
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...Answers to Review Questions 1. C, E. A project creates a unique product, service, or result and has defi ned start and fi nish dates. Projects must have resources in order to bring about their results, and they must meet the quality standards outlined in the project plan. Interrelated activities are not projects because they don ’ t meet the criteria for a project. Project management processes are a means to manage projects, and processes used to generate profi ts or increase market share do not fi t the defi nition of a project. Processes are typically ongoing; projects start and stop. 2. B. The Project Management Institute (PMI) is the leading professional project management association, with more than 400,000 members worldwide. 3. D. A program is a group of related projects that can benefi t from coordinated management. Life cycles are the various stages a project goes through, and process groups consist of Initiating, Planning, Executing, Monitoring and Controlling, and Closing. 4. B, C, E. The steps in pre - project setup include the following: identifying the project, validating the project, preparing a project charter, and obtaining approval of the charter. 5. B. Project managers can spend up to 90 percent of their time communicating. The other skills listed here are important as well, but the clue in this question is the 90 percent fi gure that relates to the amount of time project managers may spend communicating. 6. A. A request to develop a product...
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...this course, we will explore project cost and schedule control! The focus of this week is developing the scope and the work breakdown structure (WBS). We will use the WBS to specifically detail the tasks required to complete any project. The scope is the starting document of a project. It defines the project. The WBS is created from the scope and is the basis on which several other project documents, such as the budget and schedule, will be derived from. Because the WBS is one of the foundations to our planning effort, it is critical to know and understand this tool. Shortcomings in the scope or WBS will translate to the rest of our planning documents resulting in real failures during project execution to attain goals in scope, cost, and schedule. It is, therefore, of primary importance that the scope and WBS are inclusive and detailed. Just remember that as a project manager, your family comes first but the project scope and WBS are not far behind. Introduction Cost and schedule form two sides of the iron triangle of project management with the third side being the collection of scope, quality, and performance. This makes cost and schedule paramount concerns to a project manager. Cost and schedule control on a project are vital to a successful project. As you know, this course is named Project Schedule and Cost Control, which may imply that the project is underway and it's time to go to work. However, the process for project control has to start with a plan, because without...
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...Includes Over Two Hours of Bonus Audio on the CD Includes Real-World Scenarios and Leading-Edge Exam Prep Software Featuring: Updated for the Project Management Body of Knowledge (PMBOK® Guide), Fourth Edition • Custom Test Engine • Hundreds of Sample Questions • Chapter Review in Audio Format • Electronic Flashcards • Entire Book in PDF PMP Fifth Edition SERIOUS SKILLS. ® Project Management Professional Exam STUDY GUIDE Kim Heldman Project Management Professional Exam Study Guide Fifth Edition PMP ® Project Management Professional Exam Study Guide Fifth Edition PMP ® Kim Heldman Acquisitions Editor: Jeff Kellum Development Editor: Alexa Murphy Technical Editors: Terri Wagner and Brett Feddersen Production Editor: Christine O’Connor Copy Editor: Judy Flynn Production Manager: Tim Tate Vice President and Executive Group Publisher: Richard Swadley Vice President and Publisher: Neil Edde Project Manager 1: Laura Moss-Hollister Associate Producer: Angie Denny Quality Assurance: Josh Frank Book Designers: Judy Fung, Bill Gibson Compositor: Craig Woods, Happenstance Type-O-Rama Proofreader: Publication Services, Inc. Indexer: Nancy Guenther Project Coordinator, Cover: Lynsey Stanford Cover Designer: Ryan Sneed Copyright © 2009 by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada ISBN: 978-0-470-45558-6 No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form...
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...Facility (Area of discussion- Cost & Quality) Team Members: Background Outline of project The Pittsburgh International Airport is owned and operated by the Allegheny County Department of Aviation. The new Midfield Terminal includes, Landside/central services bldg Airside building Gate capacity Provisions to expand - 500,000 sft 1,200,000 sft 75 aircraft 100 gate terminal. Pittsburg is the second busiest passenger airport in Pennsylvania and 47th-busiest in the United States, serving 8,041,357 passengers in 2012. Background Outline of project The airport has the longest runways of a commercial airport in Pennsylvania at 11,500 feet (3,500 m). Until 2004 US Airways largest hub was at PIT. PIT occupies more than 12,900 acres (52 km2), making it the fourthlargest airport by land area owned in the nation. The Midfield Terminal Energy Facility was designed to meet the requirement as: Ultimate cooling load of 9,100 tons Ultimate heating load of 113 x 106 Btuh Out Line of Project Outline of project The energy facility also provides electric power to the Midfield Terminal from the new substation located between the energy facility and the field-erected concrete cooling tower. Completion – 6 weeks ahead of schedule and within budgeted cost. Outline of project ??? Cost Quality Scope Management Outline of project Well defined scope and explicitly required quality removes building up of cost contingencies for unknowns by the...
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...corresponding Process Group. At first glance, the table seems quite complicated, so let’s break it down and uncover why a solid understanding of the relationships between processes, Process Groups, and Knowledge Areas is important to anyone preparing to take the Project Management Professional (PMP) ® exam. It’s so important, in fact, that we suggest you memorize this matrix and the relationships it calls out. Memorizing the table will prove to be a valuable asset to you during your PMP Exam. What is a “Process” – 47 processes of project management? Let’s start with the building blocks of the matrix - what is a process? At its most basic level, a process is simply a way of transforming an input into an output using proven tools and techniques. The PMBOK® Guide defines a process as “a set of interrelated actions and activities performed to achieve a specified set of products, results, or services.” Good processes-based on sound principles and proven practices-are extremely important for a project’s success. Processes, like a roadmap, keep the project going in the right direction; they can also help minimize confusion and uncertainty among the project manager and the project stakeholders and can help drive progress from start to finish. The PMBOK® Guide identifies 47 processes of project management that are instrumental to project success. What is “Knowledge Areas”? The overarching piece of our...
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...Analyse the different project control and configuration management techniques and discuss the reasons why a particular technique was chosen for your project. There are several project control techniques that can be utilised during project execution so that potential problems can be identified and appropriate corrective action can be taken in a timely manner. This is very useful in analysing project performance and measuring regularly against the project management plan. One of the most commonly used project control techniques is Earned Value Management (EVM). It is a structured approach to planning, cost and performance measurement. The fundamental principle is that it integrates time, scope and cost objectives to provide a quantitative assessment of the present project status and its likely future performance. This method also highlights potential issues and can enable the Project Manager to make informed decisions to take corrective action(s). Before EVM can be effectively applied to projects, certain elements need to be in place first. ▪ Work Breakdown Structure / Organisation Breakdown Structures: The WBS and OBS define the work to be done on the project and who will do it. ▪ Baseline Plan / Budget: The time-phased budget for the project will provide the primary baseline against which progress and expenditure will be measured. ▪ Status Updates: Performance data relating to project costs and progress must be accurate and provided in a timely fashion...
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...1. How does resources scheduling reduce flexibility in managing projects? Meredith and Mantel (2000, 302) stated that a schedule is the conversion of a project action plan into an operating timetable. As such, it serves as the basis for monitoring and controlling project activity and taken together with the plan and budget, is probably the major tool for the management of project. In a project environment, the scheduling function is more important than it would be in an ongoing operation because projects lack the continuity of day-to-day operations and often present much more complex problems of coordination. Shtub, Bard and Globerson (2005, 457) identify that resources scheduling is the process by which the project manager decides which resources to obtain, from which sources, when to obtain them, how to use them and when and how to release them.Given the finite nature of resource availability, a project plan may have to be modified so that it is practical. This is the major thrust of resource planning and management. According to Gray and Larson (2005, chapter 8), there are four major stages of the resource scheduling process. These stages are resource definition, resource allocation, resource aggregation, and resource leveling. Resource definition involves identifying the critical resources that need to be planned and managed for the successful completion of the project. In a multi-project environment as projects are competing for scarce resources, resource allocation...
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...A Guide to the Project Management Body of Knowledge (PMBOK® Guide) m START m CHAPTER 7 m CONTENTS m CHAPTER 8 m LIST OF FIGURES m CHAPTER 9 m PREFACE m CHAPTER 10 m CHAPTER 1 m CHAPTER 11 m CHAPTER 2 m CHAPTER 12 m CHAPTER 3 m APPENDICES m CHAPTER 4 m GLOSSARY m CHAPTER 5 m INDEX m CHAPTER 6 EXIT A Guide to the Project A Guide to the Management A Guide to the Project Body of Project Management Knowledge Management Body of (PMBOK Guide) Body of KnowledgeE KnowledgeE L L ® P MP AM SA S 2000 Edition Project Management Institute Newtown Square, Pennsylvania USA ❍ NAVIGATION LINKS ❍ ACROYMNS ❍ ACRONYMS LIST LIST ❍ ACROYMNS LIST Library of Congress Cataloging-in-Publication Data A guide to the project management body of knowledge (PMBOK® guide).--2000 ed. p. cm. Includes biobliographical references and index. ISBN 1-880410-22-2 (alk. paper)--ISBN 1-880410-23-0 (pbk. : alk. paper) 1. Industrial project management. I. Title: PMBOK® guide. II. Project Management Institute. HD69.P75 G845 2001 658.4’04—dc21 00-051727 CIP A Guide to the A Guide to the Project Project Management Management Body of Body of KnowledgeE L KnowledgeE PL ISBN: 1-880410-23-0 (paperback) ISBN: 1-880410-22-2 (hardcover) ISBN: 1-880410-25-7 (CD-ROM) MP AM SA S Published by: Project Management Institute, Inc...
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...Project stakeholders 4 4 Meaning of project management 5 5 Factors influence on project 5 6 Project management theory 6 7 Project Management Tools and Technique 7 7.1 Cost benefit analysis (CBA) 7 7.2 Gantt chart 8 7.3 Work breakdown structure (WBS) 9 8 Project management software (PMS) 10 9 TQM 11 10 Critical Path Method (CPM) 11 11 Management by Objectives 11 12 Conclusion 12 13 References 12 14 Bibliography 13 Appendix A : Nine Project Management Areas 14 Appendix B : Project lifecycle 17 Appendix C :Common project Management tools and Techniques 19 OVERVIEW OF PROJECT MANAGEMENT TOOLS AND CONCEPTS IN A HOSPITALITY & TOURISM ORGANIZATION Introduction Project management (PM) facilitates to a structured approach to managing projects for project managers. PM reduces risk and provides assurance by providing tools at the same time environment to plan, observe, track, and deal with schedules, quality as well as resource.PM can be applied into both soft and hard projects such as personnel projects, IT, construction, finance, sports, and event planning, HR etc. Project management gives advantages like; a. Better control of financial, physical, and human resources b. Improved customer relations c. Shorter development times d. Lower costs e. Higher quality and increased reliability f. Higher profit margins g. Improved productivity h. Improved productivity i. Better internal coordination ...
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...for business opportunities arise in an increasingly competitive market place for effective project management and control systems in compliance with clients’ contractual requirements. Never before have the pressures on project managers been as great as they are today to successfully satisfy the criteria of time, cost and quality in the completion of the projects for which they are responsible. Delayed Projects cost 1, 64,000 direct jobs and Rs. 2.5 lakh crore investment says ASSOCHAM. India lost the job opportunities of employing more than 1,64,000 people with eighteen major projects in sectors like steel, power, auto getting stuck due to procedures relating to land acquiring and forest & environment clearances, an Assocham Eco Pulse (AEP) Study has stated. According to AEP study “Delayed Projects and lost job opportunities”, the 18 strangled projects of India Inc. to the tune of Rs. 2,44,815.5 crore remained on papers, in the form of MoUs and agreements over the past three-four years, however the smooth implementation could have created job opportunities for at least 1, 64, 000 people directly and 2,70,000 people indirectly. The technology being used in today’s projects is increasing in complexity as the state of the art of technology is being pushed to the limit, the level of suitably skilled resources is often limited, and the scope of work and contract costs are continually growing resulting in the need to have efficient monitoring and controlling tools to measure project...
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