BUS_361_Week_05

BUS_361_Week_05 - BUS 361 Information Systems in...

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1 BUS 361 Information Systems in Organizations and Society aka Project Management Week 5: Budgeting and Scheduling Unit 5: Budgeting and Scheduling BUS 361 Project Management
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2 Agenda for Unit 5 Questions? Understanding Project Budgets Understanding Effort and Duration Developing Quick and Dirty Budget Estimates Break Understanding Project Schedules Understanding Dependencies Setting up the schedule Break Monitoring Budgets and Schedules
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3 Housekeeping Assignments Received Assignment Unit 4. Thank you. Set up different assignments for deliverables. Quiz 2 Those who did not complete it, please come and see me after class. Quiz 3 What about 9(9.5) etc. scores? Email forward on WebCT
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4 Deadline
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5 Phases in Project Management Start Complete Level Of Process Activity Time Initiate Planning Executing Closing Controlling
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6 Develop Scope WBS Definition Prepare Project Budget Develop Work Package Plans Complete the Plan Develop Project Schedule The Planning Process
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7 Project Management Basics 5 Steps to Success 1.Define the project 2.Define the tasks 3.Estimate task effort and create budget 4.Estimating task durations and create schedule 5.Status Reporting
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8 Step 3 - Estimating Effort Begin at the Work Package Level Indicate inputs and outputs Facilitate a discussion regarding effort needed to complete each task. Do not take into account vacation, delays or other factors. Let the work package leader develop an acceptable amount of effort for each role in the work package (there may be several people involved at several hourly rates) Focus on variable resources (people) rather than fixed costs (hardware, software, machinery)
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9 Work Package Responsibility Important to assign responsibility for work packages. Use work packages to assign responsibility. Identify responsibility for deliverables. Ask work package leader to estimate effort required to complete. • This ensures buy in. Identify review cycle within work package. • Status reports weekly, bi-weekly?
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10 Effort and Duration Effort not the same as Duration THIS IS VERY IMPORTANT Q: What’s the difference? Do you have an example for each? [3 min.]
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11 Effort and Duration Effort not the same as Duration Effort – the amount of work required to complete a task.
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BUS_361_Week_05 - BUS 361 Information Systems in...

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