Project planning and management

Summary
Chapter 1:
1. Project is an activity to meet the creation of unique product or service
2. Project manager is responsible for appointing team members with
different background but essential for completing the project.
3. Elements of project:
 Project budget
 Date and duration
 Project standard quality
4. Project management is the discipline of planning, organizing, and
managing resources to bring about the successful completion of specific
project goals and objectives.
5. Key elements to determine project management:
 What to do “scope”
 Why to do it “mandate”
 How to do it “approach”
 When human or other resources are required
 Who will do it
 What can go wrong “risk management”
6. Purpose of project management:
 Minimize risk
 Contain and counter risk
 Organize and direct resources
7. Role of project manager:
 Define scope
 Activity planning
 Resource planning
 Risk management
 Quality control
 Team leadership and management
8. Causes of project failure:
 Bad project planning.
 Lack of executive support
 Incomplete requirements
 Unclear expectations
 Lack of resource
  Inexperience
9. Fundamental factors for project success:
 Match right people with right jobs
 Adequate time and effort
 Ensure that work packages are proper size
 Establish and use planning and control system
 Be willing to replan and do changes
10. Project success indicators:
 Scope
 Schedule
 Budget
 Team satisfaction
 Customer satisfaction
 Quality
11. Steps of project planning:
 Activity definition
 Activity sequencing
 Activity duration estimating
 Schedule development
 Resource planning
 Cost estimating
 Cost budgeting
 Project plan development
 Review
12. Project types:
 Manufacturing project
 Construction project
 Management project
 Research project
Chapter 2:
1. Project planning is a process of setting project goals and developing
plans for how to achieve them.
2. Project planning steps:
 Define project’s stakeholders
 Identify risk and assign deliverables
 Organize project team
 List project resources
 Develop change management procedures and forms
 Create communication plan, schedule and plan
3. Reasons on why project planning is important:
 Collect requirements
 Define scope
 create work break down structure
 collective responsibility
4. Project planning key elements:
 Develop schedule
 Estimate cost and determine actual budget
 Plan quality
 Develop human resource plan
 Plan communications
 Plan procurements
5. Project live cycle is the sequence of phases that a project goes
through from its initiation to its closure.
Chapter 3:
1. Project risk management is the process of identifying, analyzing and
responding to any risk that arises over the life cycle of a project to help
the project remain on track and meet its goal.
2. Risk management refers to activities for minimizing project risks, and
thereby ensuring that a project is completed within time and budget, as
well as fulfilling its goals.
3. Project risk analysis (PRA) it is clearly explained and defined the
method or way of identify and manage potential problems that could
undertake key project
4. Conducting a risk analysis can help organizations determine whether
they should undertake a project or approve a financial application, and
what actions they may need to take to protect their interests.
5. Main components of risk analysis:
 Risk assessment is the process of identifying what risks are present
 Risk management is the procedures in place to minimize the damage
done by risk.
 Risk communication is the company-wide approach to
acknowledging and addressing risk.
6. Steps of project risk analysis:
 Risk identification
 Risk assessment
 Risk control
 Risk communication
7. Risk can be categorized into two types:
 Natural risk “earthquake, floods and hurricanes”
 Man made risk “financial risk, marketing risk and business risk”
8. Risk management process:
 Identify risk
 Analyze risk
 Prioritize risk
 Assign an owner to the risk
 Respond to risk
 Monitor risk
9. Benefits of managing risk:
 Provide clear and structured approach to identify risk
 Saving resources
 Protecting reputation
 Preventing or reducing legal liability
 Protecting people from harm
  Protecting environment
10. Approaches that are selected to address major risks:
 Avoid “protect project by eliminating the threat or the cause”
 Mitigate “identify ways to reduce the risk”
 Accept
 Contingency “define actions to be taken to response to risk”
 Transfer “transfer consequence of risk to third party”