B UDGET D EVELOPMENT 57 C OST B UDGETING 58 C OST C ONTROL 58 M ODULE 6

B udget d evelopment 57 c ost b udgeting 58 c ost c

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B UDGET D EVELOPMENT ........................................................................................................................... 57 C OST B UDGETING ..................................................................................................................................... 58 C OST C ONTROL ........................................................................................................................................ 58 M ODULE 6 REFERENCES ........................................................................................................................... 68 M ODULE 6 E XERCISE E ARNED V ALUE AND R ECOVERY M ETHODS ........................................................ 69
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Advanced Project Management Fall 2005 iii Introduction Acknowledgements Patrick Forza, PMP – Project Control & Reporting Patty Mutton, PMP – Project Control & Reporting Stuart Anderson – Cost Risk Estimating & Management Bill Elliott – OR Project Management Office
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Advanced Project Management Fall 2005 Introduction iv (This page intentionally left blank)
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Advanced Project Management Fall 2005 1 Module 1 – General Management Theory & Skill Module 1 – General Project Management Theory & Skill Project Management Body of Knowledge While terminology may vary, the principles of project management are consistent. A project manager needs more than tools to succeed in delivering quality projects on time and within budget. Project managers with the knowledge and skill to lead a team toward a common goal will optimize team member talents to the best benefit of the team. Project Management Body of Knowledge General Management Knowledge & Skills Understanding the Project Environment Application Area Knowledge, Standards, & Regulations Interpersonal Skills PMBOK Guide, 3 rd Edition The Project Management Body of Knowledge (PMBOK) Guide describes the work planning process as defining and refining objectives and selecting the best alternative courses of action. There are many tools and techniques unique to project management; such as work breakdown structures, critical path, or earned value. These tools and techniques alone are not sufficient without effective project management knowledge and skills. The project team must recognize and use knowledge and skills from at least five areas of expertise: The Project Management Body of Knowledge Knowledge unique to the project management field and overlaps other management disciplines. Application area knowledge, standards, and regulations Project categories with common elements but not necessary in all projects
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Advanced Project Management Fall 2005 Module 1 – General Management Theory & Skill 2 Functional and supporting disciplines - legal, inventory management, personnel, traffic, right-of-way, environmental, etc. Technical elements – software development or ENGINEERING Management specializations – government contracting, new product development Industry groups – automotive, chemical, agriculture. Each of these areas typically have there own set of accepted standards and practices. Understanding the project environment The team needs to understand the positive and/or negative cultural, political, social and environmental impacts the project may have and how people (customers, stakeholders, etc.) may affect the project.
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