7/22 Chapter 8 Ideas

Chapter 8:  The Art and Science of Accurate Estimating

The following are the Key Concepts in this chapter:

1. Avoid the classic mistakes;
2. Follow the golden rules;
3. Three levels of accuracy;
4. Phased estimating;
5. Apportioning;
6. Parametric estimates;
7. Bottom-up estimating;
8. Building the detailed budget estimate; and
9. Generating the cash flow schedule.

As mentioned in the chapter, the 9 key concepts (see above), the most important lesson that we can learn about estimating is that all the stakeholders are responsible for accurate estimates. For example, customers, sponsors, and management have more control than the project team over factors such as the stability of the specifications, the availability of personnel, and the deadline pressures. A cooperative approach by all the stakeholders will produce positive results, such that if all the stakeholders understand the dynamics of estimating and work honestly to reduce the uncertainty of the project, everyone will win.

7/22 Chapter 7 Ideas

Chapter 7:  Realistic Scheduling

Includes:  (1) a detailed knowledge of the work to be done; (2) task sequences in the correct order; (3) accounts for external constraints beyond the control of the team; and (4) with given the availability of skilled people and enough resources/equipment, the project can be accomplished on time. This chapter focuses on planning steps that rely on the one that come first and then add a new component to the plan.

(1)  Planning overview;

(2)  Identify task relationships;

(3)  Estimate work packages;

(4)  Calculate an initial schedule; and

(5)  Assign and level resources

(1) In planning, two actions included are:  (a) create the project definition, identifies the purpose, scope and deliverables for the project and defines the responsibilities of the project team. (2) Identifying the task relationships is the sequence in which detailed tasks—the work packages—are performed. It is based on by the relationship between the tasks. For example those tasks compose of the work package that consists of: acquiring the law materials, removing debris, preparing soil, planting lawn seed, and planting shrubs. (3) Estimating work packages is necessary to build a cost and schedule estimate for each work package called bottom-up estimating. It is essential to record it in a systematic manner. This include: labor estimates, equipment estimates, materials estimates, and fixed-price bids. (4) Calculating an initial schedule is one of the most common but difficult of all project management techniques because it can be tedious and time consuming. Project management software is helpful to tackle this project from start to finish. (5) Assigning and leveling resources is to minimize the use of people and resources/equipment for the project; to avoid repeatedly adding and removing resources time and again during the project.

7/4 Work Breakdown Structure (WBS)

7/4 Chapter 6 Ideas

Chapter 6:  Work Breakdown Structure:  Break Your Project into Manageable Units of Work

The work breakdown structure (WBS) is the techniques used in project management for breaking down a project into chunks. If done well, it is the secret to successful project management. Defining the WBS. Its structure sets all the tasks in a project in either graphic or outline form. It helps to:  provide a detailed illustration of project scope, monitor progress, create accurate cost and schedule estimates, and build project teams. Understanding the WBS. There are two kinds of tasks:  summary tasks and work packages. Summary tasks include several subordinate tasks. For example installing a sprinkler system includes digging trenches or installing pipes. On the other hand, work packages is each of the separate tasks in installing a sprinkler system is a work package. Therefore, performing all the work packages is called a summary task. Building a WBS includes three steps: begin at the top, name all the tasks required to produce deliverables, and how to organize the WBS. Getting started on the WBS can be overwhelming so a good way to begin is to review the work already been done during the project defining and risk managing to avoid spending time inventing a new strategy. Be Sure That Summary Tasks Are Meaningful. WBS should be meaningful so the stakeholders including the project manager understand the summary tasks.

There are Criteria For A Successful Work Breakdown Structure: the WBS must be broken down starting at the top; work packages must add up to the summary task; and each summary task and work package must be named as an activity that produces a product. The description name should be a strong verb—the activity and a strong noun—the product. For example, an open-ended tasks that we know of as an activity are:  “perform analysis” or “do research.” WBS: The Key to Success. Using/applying the rule to any WBS is a success and is an absolute control of the project. It is the secret of successful project management; breaking the project into small, meaningful, manageable units of work. Work Package Size is not a task is a subproject! The rules of thumb are: 8/80 rule means 8 labor hours or larger than 80, work should be completed within 1 and 10 days long (1 week at least); the reporting period rule; and the “if it’s useful” rule, that is if it doesn’t make any easier to estimate, assign, or track—then don’t break it down!

When Very Small Tasks Make Sense. Use/talk about micromanagement, which allows close coordination among members/people in having to reduce a huge project into small increments and the results can be rewarding. Put Project Management into the WBS by listing them under a summary task called Project Management will be restricted to communication and problem solution. Planning for Quality is cheaper to design a product correctly than to fix it after the product is built. It doesn’t matter what it is but we want to make sure that we catch problems early on in the building up the life cycle of the project. Completion Criteria answers two critical questions about a work package that the project manager and team look to the best practices in the industry. So Breaking Down Large Programs’ a project manager’s responsibility that eventually is based on the top-down of the WBS.

7/4 Visiting Other Blogs

C Review at least two other students' Assignments in Ch 3 and 4 and comment on at least one of them using the blog forum. Is the Statement of Work clear and concise? Is the project well defined? Any major difference between yours and theirs? Is their Stakeholder analysis complete? Any improvement you can suggest to the other student(s)? How (or if) you can improve your own after reviewing other papers?
20-45 min. Post your feedback to the blog forum under the topic of the author.

I visited Kerry’s blog but I got an error message…

	Yi Xu's Blog by Yi Xu - Tuesday, 3 July 2012, 10:42 PM
	http://www.blogger.com/blogger.g?blogID=2093045140671498086#allposts

Re: DRAFT-Stakeholder Analysis

by Daniel Shen - Monday, 25 June 2012, 10:41 PM

  Hi Cristine,

Good job on all the forms. Some comments/questions:

1. I was wondering how your group is approaching the skype sessions (e.g. when you wrote "Our group is in the process of finalizing our stakeholder analysis"). Does that mean that you guys will produce by committee an identical form, but for grading purposes, each of you just put your own name on it to submit? Our group chose to use discussion time to brainstorm ideas, but each member will ultimately decide which ideas to use on the forms and create his/her unique version of the forms. We decide this based on the belief that each person is unique and should reflect his/her uniqueness as PM when approaching the forms.

2. As for who will be the project manager, it's my understanding that for the exercises (e.g. filling out forms), we each consider ourselves project manager of the orientation. But for the actual orientation in August, Dr. Tao will probably have us figure out project manager and team member roles.

3. The uLearn asks us to post the forms as replies to our blog post in this forum. I think Dr. Tao requests this for us to simplify the number of threads in the forum and to enable participants to follow each person's work easier.

4. I don't know this for sure, but I think we are supposed to post a copy of our forms as a reply/replies to our blog post and post them on our blog (as one entry or separate entries, up to us).

Daniel

Hi Daniel,

Thanks! #1 When I posted all the forms they were drafts (me being the Project Manager-PM) then moved on to meeting with the team. Thereafter, we were able to talk about the finalized version via Skype. The team produced an identical form per Eric's instruction on uLearn of course for grading purposes. The group decided to use everyone's ideas to be on the same page. #2 The group decided me as the PM and the rest are stakeholders (with their designated roles) for the orientation project. In our forms, we should all have the same ideas so all of our names with roles are there. #3 I believe posting in the forum, the reply should comment about what is different about your project vs. the other project for example. What is missing, etc. Is there any improvement, etc. #4 At this point, our team is pretty much comfortable with our forms.

I believe that Eric wants us to post this updated forms in our own blog per last F2F meeting on 6/30.

Cristine

7/4 Chapter 5 Ideas

Chapter 5:  Risk Management:  Minimize the Threats to Your Project

Plan for Ongoing Risk Control. It is smart to plan for risk during the project because new risks usually appear. So, planning for ongoing risk management is part of risk control.  (1) Identify the Risks:

a)     asking the stakeholders;

b)     making a list of possible risks;

c)     learning from past, similar projects; and

d)     focusing on the risks in the schedule and budget.

(2) Analyze and Prioritize the Risks:

a)     by defining the risk by including the seriousness of the negative impact;

b)     by assigning the probability to the risk; and

c)     by ranking the risks according to probability and impact.

(3) Develop Response Plans. This is the difficult one because there are many ways to reduce risks and so as ways to deal with potential risks. The five categories are:  accept the risk, avoid the risk, contingency plans, transfer the risk and mitigate the risk. Identify Which Risks You can Control. The project team should determine a response to a possible problem to identify the risks within their control/not their control. For example:  federal laws and regulations that affect the project are beyond the project teams’ control. Consider Risk Strategies. There are times that when a risk problem is solved a new risk happens. For example, contracting a specialized work is reducing risk because the work is being transferred to others. However, the control over the project is reduced and the communication problem is high. So develop a strategy to weigh the advantages and disadvantages for each risk. (4) Establish Contingency and Reserve. On a regular basis things can go wrong that unpredictable malady happens. There should be funds available to pay for emergencies, these are called contingency funds or reserve funds. It is the project manager and the sponsor’s responsibility to establish these funds. There are four steps to come up with contingency budget: (1) Identify all the risks to monitor the risk and prepare a contingency plan; (2) For each risk, estimate the additional cost of the contingency plan; (3) Sum the expected value of contingency for each risk; and (4) All parties should have the same goal in mine—to prepare for the known risks. For identified risks, know the unknowns. Management should reserve an account for the unknown unknowns. There are events that we don’t see coming. If prepared, the unknown unknowns will be avoided. (5) Continuous Risk Management. Once the project begins, new information appears—some favorable and some unfavorable.