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Project Management

Project Management . Presented by Dr. Joan Burtner Certified Quality Engineer Associate Professor of Industrial Engineering and Industrial Management Mercer University. Overview of Project Management. Project management defined Project management tools

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Project Management

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  1. Project Management Presented by Dr. Joan Burtner Certified Quality Engineer Associate Professor of Industrial Engineering and Industrial Management Mercer University

  2. Overview of Project Management • Project management defined • Project management tools • Project planning and estimation tools • Designing processes and deliverables • Implementing and tracking the project • Evaluating and closing out the project Dr. Joan Burtner, Associate Professor of Industrial Engineering

  3. What is Project Management? • “Project management is a collection of proven techniques for proposing, planning, implementing, managing, and evaluating projects, combined with the art of managing people” - Westcott (p. 237) • Project management is a supplementary skill that augments an individual’s primary skill.” - Christensen, Coombes-Betz, Stein (p. 82) Dr. Joan Burtner, Associate Professor of Industrial Engineering

  4. Project Lifecycle Stages • Visualizing, selling, initiating the project • Planning • Designing processes and outputs • Implementing and tracking • Evaluating and closing out the project Dr. Joan Burtner, Associate Professor of Industrial Engineering

  5. Tools for Stage 1 Risk Assessment • Potential Issues • Will the outcome of the project achieve a level of results acceptable to stakeholders? • Will the project be accomplished on time? • Will the project require more financial capital than initially anticipated? • Identification of risks • Brainstorming by a team • Reviews of previous projects • Inputs from stakeholders • Quantification - Failure Mode and Effects Analysis • Severity • Occurrence • Detection Dr. Joan Burtner, Associate Professor of Industrial Engineering

  6. Tools for Stage 1 Benefit-Cost Analysis • Is the project financially feasible? • Determine ratio of projected revenues and cost estimates for projects under consideration • Compare benefit/cost for each project • Select projects that will be funded • Verify project’s financial impact after project is completed • Quantification – Benefits-to-Costs Ratio • Direct costs and direct benefits • Equipment, salaries, increased production, higher quality, increased sales, reduced delivery costs, higher reliability, decreased deficiencies, lower warranty costs, etc. • Indirect costs and indirect benefits (often difficult to quantify) • Displaced workers, opportunity costs, increased customer satisfaction, better trained employees, etc. Dr. Joan Burtner, Associate Professor of Industrial Engineering

  7. Tools for Stage 1 Ranking/Prioritizing Projects • Ranking projects (See pp. 242-245 of your text) • Payback period • Net present value (NPV) • Internal rate of return (IRR) • Return on investment (ROI) • Return on assets (ROA) • Prioritizing projects • Portfolio analysis ~ a comparison of the relative financial impacts of ongoing projects versus proposed projects • Prioritization matrix ~ a merit analysis method described in detail in chapter 13 • Strategic fit analysis ~ Does the project fit within the organization’s short-term and long-term strategies and resources? Dr. Joan Burtner, Associate Professor of Industrial Engineering

  8. Tools for Stage 2 Project Planning Sequence -1 • Typical project planning sequence • (See p. 247 of your text) • Statement • Project justification • Payback period, NPV, IRR, ROI, ROA, BC ratio • Draft project documents • Mission statement, project scope and objectives • Stakeholder requirements • Stakeholder matrix, process map Dr. Joan Burtner, Associate Professor of Industrial Engineering

  9. Tools for Stage 2 Project Planning Sequence -2 • Typical project planning sequence • (See p. 247 of your text) • Project team formation • Update project documents, prepare charter, request project planning funds • Identify deliverables • Project outputs or contractually required deliverables (CDRLs) • Internal outputs for planning and managing project Dr. Joan Burtner, Associate Professor of Industrial Engineering

  10. Tools for Stage 2 Project Planning Sequence -3 • Typical project planning sequence • (See p. 247 of your text) • Work breakdown structure (WBS) • Hierarchy of work categories • Gantt chart • Major project steps with projected start times and finish times • Time-dependent task diagrams • Resource requirements matrix (RRM) Dr. Joan Burtner, Associate Professor of Industrial Engineering

  11. Tools for Stage 2 Project Planning Sequence -4 • Typical project planning sequence • (See p. 247 of your text) • Linear responsibility matrix (LRM) • Project budget • Measurements and reports • Milestones, project monitoring process, data analysis methodology, reporting protocols • Completed project plan • Obtain final approval to proceed with project Dr. Joan Burtner, Associate Professor of Industrial Engineering

  12. Tools for Stages 3 and 4 • Stage 3 • Designing project-specific processes and deliverables • Varies with project type (software design, hardware design, integrated software/hardware, etc.) • Stage 4 • Implementing and tracking the project • Critical performance measures • Timeliness (tracking overall progress, stage/gate reviews) • Budget variance (tracking expenditures and comparing to budget) • Earned value analysis (periodically tracking planned value, earned value of actual work completed, actual costs to achieve earned value) • Resource usage (facilities, human, equipment, information) • Risk analysis (proactively exercising control of potential future events) Dr. Joan Burtner, Associate Professor of Industrial Engineering

  13. Tools for Stage 5 • Evaluating and closing out the project • Typical end-of-project measures • Objectives • Deliverables • Schedule • Budget • Payback • Cost savings • Earned value analysis results • Lessons learned Dr. Joan Burtner, Associate Professor of Industrial Engineering

  14. References • Westcott, R.T. (Ed.). (2006). The Certified Manager of Quality/Organizational Excellence Handbook (3rd edition) , Milwaukee, WI: ASQ Quality Press • Project Management Institute (2004). Guide to the Project Management Body of Knowledge , Newton Square, PA: PMI Publications • Christensen, E., Coombes-Betz, K., and Stein, M. (2007).The Certified Quality Process Analyst Handbook , Milwaukee, WI: ASQ Quality Press Dr. Joan Burtner, Associate Professor of Industrial Engineering

  15. Contact Information • Email: Burtner_J@Mercer.edu • US Mail: Mercer University School of Engineering 1400 Coleman Avenue Macon, GA • Phone: (478) 301- 4127 Dr. Joan Burtner, Associate Professor of Industrial Engineering

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