Fundamentals Of Project Management

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Unformatted text preview: ion is, “It all depends.” If you are doing a well-defined construction job, the variances can be in the range of ±3 to 5 percent. If it is research and development, it goes up generally to around ±10 to 15 percent. If the project involves pure research, the sky is the limit. Imagine, for example, that you work for a pharmaceutical company, and your boss says, “Tell me how long it will take and how much it will cost for you to discover and develop a cure for AIDS.” For every organization, you will have to develop a sense of acceptable tolerances through experience. Then you start trying to reduce them. All progress is an attempt to reduce variation in what we do. We will never reduce variation to zero without eliminating the process altogether, but zero has to be the target. EXERCISE Figure 8-9 shows earned value figures for a project. Answer the questions by analyzing the data. Answers are provided in the Appendix. Questions: • Is the task ahead or behind schedule? By how much? • Is the task overspent or underspent? By how much? • When the task is completed, will it be overspent or underspent? Figure 8-9 Earned value report. Key Points to Remember • Control is exercised by analyzing variances from the plan. • Well-defined projects can achieve tighter control over variations than can poorly defined ones. • There is a tendency to sacrifice quality when deadlines are difficult to meet. • It is not enough to recognize a variance. Its cause must be determined so that corrective action can be taken. • Acceptable variances can be determined only through experience. Every system has its own level of capability. Your team may have the ability to hold better tolerances on its work than another team. Previous Table of Contents Next Products | Contact Us | About Us | Privacy | Ad Info | Home Use of this site is subject to certain Terms & Conditions, Copyright © 1996-2000 EarthWeb Inc. All rights reserved. Reproduction whole or in part in any form or medium without express written permission of EarthWeb is prohibited. Read EarthWeb's privacy statement. Fundamentals of Project Management by James P. Lewis AMACOM Books ISBN: 0814478352 Pub Date: 01/01/95 Search Tips Search this book: Advanced Search Previous Table of Contents Next Title Chapter 9 Managing the Project Team ----------- In previous chapters I have concentrated primarily on the tools of project management—how to plan, schedule, and control the work. Unfortunately, far too many project managers see these tools as all they need to manage successfully. They assemble a team, give the members their instructions, and sit back and watch the project self-destruct. Then they question whether there might have been some flaw in the tools. In all likelihood, the problem was with how people were managed. Even in those cases where a problem with the tools might have existed, it is often the failure of people to apply them properly that causes the probl...
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This document was uploaded on 09/27/2013.

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