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February 2019
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March 2019
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April 2019
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May 2019
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2 3 Notes
 1. Project Description
Write a 500-character description of a project that you would like to use as a case project to apply the PM best practices yo

2. Project Lifecycle ( Generic )

A Project life cycle is the series of phases that a project passes through from its start to its completion. It provides the basic
framework for managing the project. The basic framework applies regardless of the specific project work involved
Review the below generic lifecycle and write comments if any below

Comments:

3. Development Lifecycle
Instructions: Within a project lifecycle, there are one or more phases that are associated with the development of the prod
service or result. These are called Development Lifecycle. Development lifecycle can be predictive, incremental, adaptive o
hybrid model.
In the below template draw the development lifecycle selected for the case project and write few characteristics below the
picture
ply the PM best practices you learn from this workshop.

pletion. It provides the basic

oject work involved
he development of the product,
ve, incremental, adaptive or

ew characteristics below the

 Project Charter
Project Name

Purpose or Justification of the Project

High level requirements

Project outcome/Output

Key deliverables

Summary Schedule

Pre-approved budget

Key stakeholders

High level Risks

Project Exit Criteria

Project Sponsor

Project Manager

Your Role / Designation

Project Charter
 SH Register
Stakeholder name / Group
S.No Briefly narrate their stake in the project Power/Influence
Name
1 Sponsor
2 PM
3
4
5
6
7
8
9
10
11
12
13
14
15
Interest/Impact Engagement Strategy

Power / Influence

Interes
Impac
High Keep Satisfied
Low Manage Closely
Monitor
Keep Informed
Interest /
Impact
 Develop Schedule Network diagram

The following is the outcome of a schedule development meeting.

Study the contents of the table; map them to the five processes of scheduling. Develop the network i
page and answer the questions below

Predecessor Duration
ID Task Name
Task ID (weeks)

A Project Kick off NA 1

Prepare
B A 5
Specification
B (5)
Purchase of Raw
C A 3
materials

Process
D
Development
B, C 15 A (1) C (3)

Analytical
E D 7
Development

Regulatory
F A 10
preparation

Regulatory
G F 10
registration

Commercial
H E, G 5
production

Total Project
Duration

Questions
·         Draw a network diagram through PDM technique (Continue with the sample).
·         Identify the number of paths and path duration.
·         Mark the critical path and determine the Project duration?
Develop the network in the next

h the sample).
Project Lifecycle
Map Development Lifecycle

Start

Exercise II : Develop a WBS with level 0 as

 Project Schedule

Task
Name
No

10

11
 12

13

14

15

Activity Cost Ti
18

Activity Cos
19

Instructions for developing schedule and cost budget

1. Under dependency column, use predecessor ID followed by Type (Eg FS/SS/FF)
2. Create the time phased network diagram ( Gantt chart ) using the above data
3. Assign activity cost on the table based on resource allocation, allocate over the dura
5. Calculate the cash flow/period by adding the activity costs in row 18
6. Calculate the cumulative costs ( row number 19)
8 Draw S Curve using the cumulative cost
with level 0 as Project, level 1 as the phases/work package
 Resource Cost
Dependency Duration 1 2 3 4 5 6 7 8
Name Estimates
 Activity Cost Time Phased (total per period)

Activity Cost Time Phased (Cumulative)

ost budget
ype (Eg FS/SS/FF)
the above data
allocate over the dura
ow 18
 Finis
h

rk packages/Key deliverables
9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
31 34 35 36 33 34 35 36
Instruction : Use smart Art to build the basic sructure and add additional blocks and reporting relationships as needed. Alternatively you may
s as needed. Alternatively you may use visio and copy the file here
 Responsibility Assignment Matrix

S.No WBS Code Deliverable Name Responsible Accountable Consult

1
2
3
4
5
6
7
8
9
10
Inform
Who need What information When
(Audience) (Deliverable/Progress etc) (Frequency)

– Project Sponsor
– Project Team
– Stakeholders

– Project Team

– Project Technical Staff

– Project Sponsor
– Project Team
– Stakeholders
– PMO
 Why
How will it be delivered Who is responsible
(Objective of Medium
(Communicaton Type) (Owner)
Communication)

Note: Please replace the sample data with you project data
Owner for the communication can be picked up from the project resources created in the Resource Pool sheet
 Plan Risk Management

The assessment methodology involves the following steps:

Step 1: Identify Risks:

Sources of Risks: Assumptions made at all stages, Constraints that are not realistic, Dependencies (Tasks, Resources, intern
and external up on which the Project team has limited options) are taken as inputs to identify risks
The project Manager Walk through the project plan to the core team and key stakeholders and together through a brainstorm
session identify the risks. Team members should be encouraged to express their concerns freely without cutting their views
criticisms. It is preferred to use a whiteboard and the facilitator document the risks on the board

Step 2: Assessment:

At this stage the two key parameters (Probability and Impact )are assessed. Probability assessment is based on the historica
information from previous projects supported by expert judgment by the involved stakeholders. Impact should be looked at
all objectives of the project ( Scope, Time, cost, Quality etc ). Use the following table to obtain the rating

Risk Evaluation on major Project Objectives

Project Very low Low Moderate High Very Hi
Objective ( 0-1 ) ( 2-3) ( 4-5) (6-8) ( 9-10
Insignificant cost <5% Cost 5-10%Cost 10-20%Cost >20%Cost
Cost
increase increase increase increase increase
Insignificant Schedule Overall project Overall project Overall proje
Schedule
schedule slippage slippage<5% slippage5-10% slippage 10-20% slippage>20
Minor areas of Scope reduction Project end
Scope decrease Major areas of
Scope scope are unacceptable to is effectively
barely noticeable scope affected
affected the client useless
Only very
Quality Quality reduction Quality reduction Project end
demanding
 Schedule
schedule slippage slippage<5% slippage5-10% slippage 10-20% slippage>20
Minor areas of Scope reduction Project end
Scope decrease Major areas of
Scope scope are unacceptable to is effectively
barely noticeable scope affected
affected the client useless
Only very
Quality Quality reduction Quality reduction Project end
demanding
Quality degradation requires client unacceptable to is effectively
applications are
barely noticeable approval the client unusable
affected

Step 3: Assess the Risk Exposure

After calculating the probability and impact ratings multiply the values to calculate the Risk exposure [ RE = P X I ]
Sort the risk exposure rating from high to low to get the prioritized risks. Based on the key stakeholders risk tolerance you
choose the list of risks to plan responses

Step 4: Plan Risk Responses:

The following table gives the guidelines for choosing the response strategies
• The X Axis shows the impact rating from 0 to 10 with an increment of 1
• The Y axis shows the Probability rating from 0 to 10
• The other cells shows the calculated Risk Exposure (P X I) values.
• Values from 0 to 10 is the zone for acceptance. Values 10 to 50 can be used for Mitigation and values above 50 are for
transference and / or avoidance zones

Threats Opportunities
10 10 20 30 40 50 60 70 80 90 100 100 90 80 70 60 50 40 30 20
9 9 18 27 36 45 54 63 72 81 90 90 81 72 63 54 45 36 27 18
8 8 16 24 32 40 48 56 64 72 80 80 72 64 56 48 40 32 24 16
7 7 14 21 28 35 42 49 56 63 70 70 63 56 49 42 35 28 21 14
6 6 12 18 24 30 36 42 48 54 60 60 54 48 42 36 30 24 18 12
Probability

5 5 10 15 20 25 30 35 40 45 50 50 45 40 35 30 25 20 15 10
4 4 8 12 16 20 24 28 32 36 40 40 36 32 28 24 20 16 12 8
3 3 6 9 12 15 18 21 24 27 30 30 27 24 21 18 15 12 9 6
2 2 4 6 8 10 12 14 16 18 20 20 18 16 14 12 10 8 6 4
1 1 2 3 4 5 6 7 8 9 10 10 9 8 7 6 5 4 3 2
0 1 2 3 4 5 6 7 8 9 10 10 9 8 7 6 5 4 3 2
Impact

Step 5: Document the response actions:

Each response strategies may have one or more response actions. It is important to document these response actions and id
owners who will take up these actions.
Step 6: Assess contingency plans and reserves:

After responding to the active risks, the team should plan the reserves to be set apart for the residual part of the identified a
planned risks and the risks kept in the watch list. Management may also decide to keep a reserve above S Curve as Manage
reserve for Unidentified and Unplanned risks

Step 7: Implement the risk response plan:

It is critical that the entire project plan to be revisited to implement the response actions documented in the risk register. Fe
the action steps will be implemented at the time of occurrence of the risks
Complete the risk register after completing the response actions and it should be reviewed in every project review meetings
es (Tasks, Resources, internal
ks
ogether through a brainstorming
without cutting their views and

ent is based on the historical

Impact should be looked at from
he rating

s
igh Very High
6-8) ( 9-10)
Cost >20%Cost
e increase
project Overall project
e 10-20% slippage>20%
eduction Project end item
ptable to is effectively
nt useless
reduction Project end item
e 10-20% slippage>20%
eduction Project end item
ptable to is effectively
nt useless
reduction Project end item
ptable to is effectively
nt unusable

osure [ RE = P X I ]
holders risk tolerance you can

and values above 50 are for

pportunities
60 50 40 30 20 10
54 45 36 27 18 9
48 40 32 24 16 8
42 35 28 21 14 7
36 30 24 18 12 6
30 25 20 15 10 5
24 20 16 12 8 4
18 15 12 9 6 3
12 10 8 6 4 2
6 5 4 3 2 1
6 5 4 3 2 1

ese response actions and identify

dual part of the identified and
e above S Curve as Management

nted in the risk register. Few of

ery project review meetings

 Risk R
Risk Pre - Mitigation Assessment
ID Description Category P (1-10 ) I (1-10)
 Risk Register
- Mitigation Assessment Response Post - Mitigati
RE = [P*I] Owner Status
Priority Strategy Action P (1-10 )
1-100
Post - Mitigation Assessment
RE = [P*I]
I (1-10) Priority
1-100
Instruction
Plot the risk rating before and after response
As a thumb rule the reduction in risk exposure should b
The response action should be implemented by updating
I
Probability
1 2 3 4

1 1 2 3 4

2 2 4
Acceptance Zone 6 8

3 3 6 9 12

4 4 8 12 16

5 5 10 15 20

6 6 12 18 24

7 7 14 21 28

8 8 16 24 32

9 9 18 27 36

10 10 20 30 40
nse
osure should be of an order of 90% ( in the below example 56 to 6 )
ed by updating the plan
Impact Rating
4 5 6 7 8 10

4 5 6 7 8 10

8 10 12 14 16 20

12 15 18 21 24 30
Mitigation/ Transference zone
16 20 24 28 32 40

20 25 30 35 40 50

24 30 36 42 48 60

28 35 42 49 56 70

32 40 48 56 64 80
Avoidence /Escalation zone
36 45 54 63 72 90

40 50 60 70 80 100
6 to 6 )

10

10

20

30

40

50

60

70

80
ce /Escalation zone
90

100
 Earned value analysis

A project with a budget of 30000 US $, an effort of 600 man days and 24 weeks duration reports the
following results at the end of six weeks. Earned value is 20% and Actual cost spent is US $ 12,000.
Answer the following questions with performance reported above.
Assume “ %complete ” as the EV earning method, the work is uniformly distributed and the current trend
in terms of progress and cost will continue in to the future

Abbreviatio Formula / Calculated

Metric /Parameter
n Calculation value
Total Budget for the complete scope
BAC 30000
of work

Schedule 24

Status review conducted as of 6

Performance indicators
BAC/
Budget for the scheduled work [PV] PV (schedule/status 7500
review)
Value of work accomplished
EV 20% 6000
( work percentage in $ value )

Actual cost of performed work AC 12000

Schedule Variance SV EV-PV -1500

Cost Variance CV EV-AC -6000

Schedule performance index SPI EV/PV 0.8

Cost Performance Index CPI EV/AC 0.5

Estimated cost of Completion EAC BAC/CPI 60000

EAC = AC+ETC-->
Estimate to Complete ` ETC 48000
ETC = EAC-AC

Variance at Completion VAC BAC-EAC -30000

bac 30000 24 weeks
work

in 6
weeks

AC 12000
December 2019
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5 6 Notes