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1.040/1.401 Project Management Spring 2007 Course Introduction

1.040/1.401 Project Management Spring 2007 Course Introduction. Dr. Fred Moavenzadeh Dr. SangHyun Lee Dr. Samuel Labi. Department of Civil and Environmental Engineering Massachusetts Institute of Technology . Outline. Introduction Course Information Lecture Outline – Before Spring Break

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1.040/1.401 Project Management Spring 2007 Course Introduction

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  1. 1.040/1.401Project ManagementSpring 2007Course Introduction Dr. Fred Moavenzadeh Dr. SangHyun Lee Dr. Samuel Labi Department of Civil and Environmental Engineering Massachusetts Institute of Technology

  2. Outline • Introduction • Course Information • Lecture Outline – Before Spring Break • Lecture Outline – After Spring Break

  3. Instructors • Dr. SangHyun Lee • Visiting Lecturer at MIT • Consultant at CRA International • Dr. Samuel Labi • Visiting Professor at MIT • Assistant Professor at Purdue University • Dr. Fred Moavenzadeh • James Mason Crafts Professor at MIT • Director, Center for Technology, Policy, & Industrial Development • Director, Technology and Development Program

  4. T.A. • To Be Announced

  5. Students • Your Background, Interest, and Expectation

  6. Project Management • What is it? • Focus of Class – Construction Projects

  7. Outline • Introduction • Course Information • Lecture Outline – Before Spring Break • Lecture Outline – After Spring Break

  8. Class Schedule • Lectures: Monday & Friday 1– 2:30 PM • Participation encouraged! • Recitation : 4 - 5 PM • Discussion/readings • Videos / case-studies • Guest lectures • Tours • Lectures and recitations both in 1-371 • Office Hours: • MF 3-4pm (Rm 1-180) • by appointment (lsh@mit.edu, labi@mit.edu, moaven@mit.edu)

  9. Lecture • Before Spring Break - Dr. SangHyun Lee • Project Financing & Evaluation • Project Organization • Estimation • Project Planning • Project Dynamics • After Spring Break - Dr. Samuel Labi • Resource Planning • Project Control • Risk Management • Project Close-out • Last Class - Dr. Fred Moavenzadeh

  10. Recitation • Case-studies and videos (preliminary): • Hong-Kong/Shanghai Bank • Worldwide Plaza • Empire State Building • Torino 2006 Winter Olympics Venues • Milan New Exhibition System • Etc. • Guest lectures: • MIT Facility Management • Large Program Development • Public Private Partnership • Guided tours • Other to be defined • Regular lectures (Project Dynamics I & II)

  11. Course Website: STELLAR • Course communication through Stellar: • http://stellar.mit.edu/S/course/1/sp07/1.040/ • Lecture slides posted after lectures • Readings distributed • Homeworks distributed and submitted through Stellar • All files in MS Office or text format for comments

  12. Now in STELLAR • Syllabus (posted on Stellar) • Course Description • Course Organization • Academic Honesty • Preliminary schedule • Survey (AS 1) • Term Project Part I (TP 1)

  13. Textbooks & References • Required Readings • “Project Management for Construction” by Hendrickson • http://www.ce.cmu.edu/pmbook/ • Recommended Reading • “Construction Nightmares” by O’Leary and Acret. • Real stories (along with legal analyses) • Can be purchased through the MIT Coop • Meredith, J. and Mantel, S., (2000) Project Management: A managerial Approach, J. Wiley & Sons New York • Dewey Library (put on reserve) • Can be purchased through the MIT Coop also. • Syllabus contains others

  14. Participation • Attending both lectures and recitations is required • Students are strongly encouraged to participate in discussions • Please interrupt presentations/videos at any point for interactive discussions • Read assigned material before lecture!

  15. Grading • Individual Participation 15% • In lecture, recitation, office hours • Assignments / Individual Grading 45% • Term Project / Individual Grading 40%

  16. Individual Assignment • AS 1: Student Background • AS 2: 10 minute Presentation • AS 3: Business Case • AS 4: Decision Making under Uncertainty • AS 5: Scheduling

  17. Term Project (1.040) • TP 1: Preliminary Project Proposals • TP 2: Project Details • TP 3: Deliverables • Report • Presentation

  18. Term Project (1.401) • TP 1: Preliminary Project Proposals • TP 2: Project Details • TP 3: Deliverables • Report • Presentation • AS 6: Essay

  19. Grading Details • Extra credit assignments: More work  more credit • Late Assignments: Reduced 10%/day (compounded) up to 7 Days • Group Term project grade (adjusted individually) • For Individual Assignments: Share with others ONLY concepts and problems • Academic Honesty Statement

  20. Academic Honesty • Individual Work Only Allows for Group Discussion of Concepts and Problems • Do Not Copy Previous Year Work • Reference Any Source • When Confused Ask Instructor

  21. Outline • Introduction • Course Information • Lecture Outline – Before Spring Break • Lecture Outline – After Spring Break

  22. Construction Phases & Class Topics FEASIBILITY ANALYSIS DEVELOP- MENT DIVESTMENT OPERATIONS CLOSEOUT DESIGN PROJECT MANAGEMENT

  23. Construction Phases & Class Topics FEASIBILITY ANALYSIS DEVELOP- MENT DIVESTMENT OPERATIONS CLOSEOUT DESIGN PROJECT MANAGEMENT

  24. Feasibility Studies and Preliminaries • Understanding project finance and evaluation • Helps understand economic challenges faced by owner and contractor • Risk management • Deciding on fundamentals of contract • Delivery systems (organizational method) • Contract type (how pay?) • Award method (how decide who hired?)

  25. Construction Phases & Class Topics FEASIBILITY ANALYSIS DEVELOP- MENT DIVESTMENT OPERATIONS CLOSEOUT DESIGN PROJECT MANAGEMENT

  26. Design Phase • Estimation • Successive estimates produced • Planning & Scheduling • WBS • Deterministic & probabilistic scheduling • Resource planning • Simulation

  27. Project Dynamics • As-planned vs. as-built (e.g., errors and changes) • Significant of feedbacks - Counter-intuitive effects of policies (e.g., overtime)

  28. Outline • Introduction • Course Information • Lecture Outline – Before Spring Break • Lecture Outline – After Spring Break

  29. Construction Phases & Class Topics FEASIBILITY ANALYSIS DEVELOP- MENT DIVESTMENT OPERATIONS CLOSEOUT DESIGN PROJECT MANAGEMENT

  30. 2nd Half of Project Management Course 1. The phases of - Development - Close Out

  31. 2nd Half of Project Management Course 1. The phases of - Development - Close Out Resource Scheduling Simulation Basics of Project Monitoring and Control Changes and Claims Earned Value Analysis Quality Reviews and Audits

  32. 2nd Half of Project Management Course 1. The phases of - Development - Close Out Resource Scheduling Simulation Basics of Project Monitoring and Control Changes and Claims Earned Value Analysis Quality Reviews and Audits • Resource Scheduling • - How to allocate resources ($, time, etc.) to execute a given task efficiently • Trade offs between conflicting/competing resources • Tools: graphical analyses, programming (linear, integer, heuristic, etc.)

  33. 2nd Half of Project Management Course 1. The phases of - Development - Close Out Resource Scheduling Simulation Basics of Project Monitoring and Control Changes and Claims Earned Value Analysis Quality Reviews and Audits • Simulation • - Involves mathematical description/representation of the management process • Helps identify optimal schedules and decisions • Helps to quickly determine impact of alternative schedules • Tools: algorithms implemented on computers

  34. 2nd Half of Project Management Course 1. The phases of - Development - Close Out Resource Scheduling Simulation Project Monitoring and Control Changes and Claims Earned Value Analysis Quality Reviews and Audits • Project Monitoring and Control • How to track your project costs, schedule (time), and other resources • Helps ascertain whether targets are being met • Needed so that due changes can be made to schedule as and when necessary

  35. 2nd Half of Project Management Course 1. The phases of - Development - Close Out Resource Scheduling Simulation Basics of Project Monitoring and Control Changes and Claims Earned Value Analysis Quality Reviews and Audits • Changes and Claims • What are the causes of time delays, cost overruns, change orders? • How can such problems be prevented or mitigated • Conflict resolution

  36. 2nd Half of Project Management Course 1. The phases of - Development - Close Out Resource Scheduling Simulation Basics of Project Monitoring and Control Changes and Claims Earned Value Analysis Quality Reviews and Audits • Earned Value Analysis • is a snapshot in time (as the project is in progress) • compares work plan vs. actual work progress • is a standard method of (a) measuring project progress at any given point in time, (b) updating forecasts of completion date and final cost, • Is an early warning system to detect deficient or endangered progress.

  37. 2nd Half of Project Management Course 1. The phases of - Development - Close Out Resource Scheduling Simulation Basics of Project Monitoring and Control Changes and Claims Earned Value Analysis Quality Reviews and Audits • Quality Reviews and Audits • Quality Control (typically done by owner’s inspectors at the end of major production phases. • Quality Assurance (typically done by contractor throughout the production, incl. raw materials • Audits and QA/QC Reviews (retrospective in nature)

  38. 2nd Half of Project Management Course1. The phases of - Development - Close Out 2. Related Topics - Risk and Uncertainty, etc.

  39. Posted homework • Assignment 1 – Review • Due by February 12, midnight • Term Project Phase 1 - Preliminary Project Proposals • Due by February 16, midnight

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