The-Mathematics-Behind-Project-Management

The-Mathematics-Behi - INTERNATIONAL BUSINESS TECHNOLOGIES The Mathematics Behind Project Management Earned Value Management Burak ULUOCAK July

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INTERNATIONAL BUSINESS TECHNOLOGIES - 1 - Burak Uluocak, PMP, CSM The Mathematics Behind Project Management “Earned Value Management” Burak ULUOCAK July 2009, İ stanbul
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INTERNATIONAL BUSINESS TECHNOLOGIES - 2 - Burak Uluocak, PMP, CSM TABLE OF CONTENTS page LIST OF ABBREVIATIONS 3 LIST OF FIGURES 4 ABSTRACT 5 1. INTRODUCTION TO PROJECT MANAGEMENT 6 1.1. PROJECT MANAGEMENT INSTITUTE 6 1.2. DEFINITION OF PROJECT AND PROJECT MANAGEMENT 6 2. TIME MANAGEMENT 9 2.1. NETWORK DIAGRAMS 9 2.2. ACTIVITY DURATION ESTIMATION 10 2.3. CRITICAL PATH METHOD 10 2.4. PERT (PROGRAM EVALUATION AND REVIEW TECHNIQUE) 11 2.5. TECHNIQUES TO COMPRESS PROJECT DURATION 14 3. COST MANAGEMENT 15 3.1. BASIC CONCEPTS 15 3.2. COST ESTIMATION AND BUDGETING 15 4. EARNED VALUE MANAGEMENT 17 4.1. HISTORY 17 4.2. DEFINITION AND TERMINOLOGY 18 4.3. IMPROVEMENTS ON EARNED VALUE TECHNIQUE 22 CONCLUSION 24 REFERENCES 25
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INTERNATIONAL BUSINESS TECHNOLOGIES - 3 - Burak Uluocak, PMP, CSM LIST OF ABBREVIATIONS PMI Project Management Institute WBS Work Breakdown Structure PERT Program Evaluation and Review Technique O Optimistic Time P Pessimistic Time M Most Likely Time T E Expected Time EVM Earned Value Management E R Effort R I Resource usage intensity EV Earned Value BCWP Earned Value PV Planned Value BCWS Planned Value AC Actual Cost ACWP Actual Cost CV Cost Variance SV Schedule Variance CPI Cost Performance Index SPI Schedule Performance Index BAC Budget at Completion EAC Estimate at Completion ETC Estimate to Complete VAC Variance at Completion TCPI To-Complete Performance Index Fs Schedule Factor Fc Cost Factor
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INTERNATIONAL BUSINESS TECHNOLOGIES - 4 - Burak Uluocak, PMP, CSM LIST OF FIGURES Figure 1 Project Constraints “Triple Constraint” Figure 2 Project Management Process Groups Figure 3 A project WBS example from a banking project Figure 4 The project activities of a project Figure 5 Cost Estimation and Budgeting Example Figure 6 President’s Management Agenda (PMA) Scorecard Figure 7 Overall program view of EVM data Figure 8 Illustrative Graphic Performance Report
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INTERNATIONAL BUSINESS TECHNOLOGIES - 5 - Burak Uluocak, PMP, CSM ABSTRACT Project Management is an important role in today’s flattener organizations. As companies continue to reduce hierarchical levels and move toward more horizontal structures, more people with project management skills are needed. Also, in order to launch the new products on time and in budget, nearly all the important companies use project management skills, to coordinate people from manufacturing to marketing and finance. On the other hand, related to other management disciplines, modern project management is pretty new. It first started to be used in the USA by government programs in 1950s, but it has been used widely in all sectors beginning from 1990s and it still improves. Today, it is seen that although human skills are important in order to establish the necessary coordination between people and departments, technical skills are equally important to
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This note was uploaded on 01/22/2011 for the course MATH 10 taught by Professor Yenshi during the Spring '10 term at CUNY City Tech.

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The-Mathematics-Behi - INTERNATIONAL BUSINESS TECHNOLOGIES The Mathematics Behind Project Management Earned Value Management Burak ULUOCAK July

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