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Project Management is the application of concepts, and techniques to maximize project success. Projects are critical to the success of any organization, and are defined as a set of processes performed within a specified scope to achieve a goal within a specified time, budget, quality, and resources. Conflict is an inevitable consequence of project work as there is constant pressure to achieve targets within strict time and resource constraints.

The late delivery of projects has become the scourge of project professionals worldwide. Countless numbers of projects undertaken by organizations in the private and public sectors significantly overrun the project schedule and budget and as a consequence fail to achieve the organization's financial and strategic objectives, often with sizable increases in costs and with substantial financial losses to the organization. This is due mainly to the failure of many project professionals to successfully apply the tools and techniques of modern project planning, scheduling and control to their projects. In addition to the financial losses suffered by the organization, many such projects also fail to deliver the required quality of outcomes intended for the project as a direct consequence of inadequate planning and control. You will be able to:

· Integrate scope, time, resources and cost management into a dynamic, manageable plan

· Develop project network diagrams for CPM and advanced PERT calculations to identify schedule and cost risks

· Maintain continuous project performance and delivery control

· Accurately estimate and allocate project costs and resources

· Measure, forecast and control project performance by employing earned value techniques

· Compress or accelerate the schedule when required by adverse circumstances

· Manage and mitigate schedule, cost, scope, and resource risks associated with the project

· Develop line of balance schedules and velocity diagrams for repetitive or recurring work

· Benefit from the financial effects of the learning curve on recurring work

· Develop a project recovery plan for budget and schedule overruns

· Produce clear and concise project progress reports

By the end of this course, delegates will be able to:

 

• Gain knowledge of techniques used in resource planning and control
• Understand the time-cost trade-offs
• Identify risk sources and minimize their impact and learn how to sustain project momentum
• Learn how to administer project documentation and reporting
• Develop effective performance monitoring and control systems
• Gain knowledge of techniques used in project estimating, from the conceptual stage to the final detailed estimate
• Understand the different types of estimates used to accurately and progressively estimate project costs
• Understand the fundamental concepts of Value Engineering and Analysis

Project professionals, project team leaders, project planning engineers, senior project control and business services professionals, associate project managers, project managers, IT project managers, project coordinators, project analysts, project leaders, senior project managers, team leaders, product managers, program managers, project sponsors, project team members, design engineers, civil engineers, project team members from members of process Improvement teams, administrators responsible for managing projects, technical professionals and engineers moving into project leadership

Project Scope Planning & Definition

· Scope Planning

· Work Breakdown Structures (WBS)

· Work Packages

· Statement of Work (SOW)

· Scope Execution Plan

· Triple Constraints: Time Cost, Scope

· Project Quality Issues

· Project Risk Analysis

· Project Deliverables

· Resource Requirements

 

Project Schedule Planning

· Precedence Network Diagramming

· Job Logic Relationship Chart

· Critical Path Analysis

· Project Float Analysis

· Lead and Lag Scheduling

· Activity Duration Estimation

· Milestone Charts

· Gantt Chart - Schedule Baseline

· Project Estimating Processes

· Production and Productivity Planning

· Resource and Cost Allocation

 

Resource Allocation and Resource Leveling

· Management of Resources

· Planning and Scheduling Limited Resources

· Resource Allocation Algorithms for Resource Prioritization

· Solving Resource Contention

· Resource Leveling when Project Duration is Fixed

· The Brooks Method of Resource Allocation

· Increasing the Workforce

· Solving Interruptions to the Schedule

· Scheduling Overtime

 

Technical Advanced Cost Estimating

· Basic Project Management definitions

· Cost Selection Methods

· Typical project terminology & setting up for success

· Project cost management

· Cost estimation

· Cost Budgeting

· Cost Control

· Triple Constraints – Time, Cost, Scope

· Understanding project management inputs to cost estimation

· Resource and Cost Allocation

 

Applying Value Engineering Skills in Projects

· What is Value Engineering? Why is it important?

· Defining Value Engineering concepts and principles

· Purpose of Value Engineering and Value Analysis

· Strengths and Weaknesses of Value Engineering

· How and when is Value Engineering applied?

· Project definition and initiation

· Project scope and charter development

· Life-cycle costing techniques

· Project stakeholders analysis and management

· Identifying relationships between Value, Cost and Worth

· Initiating Value Engineering Process

· Overview of Different Value Engineering Phases

· The Information Phase – steps and procedures

· Developing Value Engineering Job Plan

 

Accelerating the Project Schedule

· Circumstances Requiring Project Acceleration

· Time-Cost-Scope Trade-off

· Project Time Reduction

· Direct Project Costs

· Indirect Project Costs

· Options for Accelerating the Schedule

· Crashing the Schedule

· Pre-Accelerated Schedule

· Developing a Crash Cost Table

· Acceleration in Practice

· The Optimal Acceleration Point

· Gantt Chart for Accelerated Schedule

· Network Activity Risk Profiles

· Additional Considerations

· Multiple Critical Paths

· Project Cost Reduction

 

Project Contingency Planning

· Program Evaluation and Review Technique (PERT)

· Path Convergence Analysis

· Solving the Path Convergence Problem

· Network Risk Profile Types

· Normal Distribution

· PERT, Probability and Standard Deviation Formulae

· Calculating the Standard Deviation

· Standard Deviation for Critical Path

· True Critical Path

· Network Activity Risk Profiles

· Application: Estimating Project Duration

 

Project Execution Management, Control & Reporting

· Progress Tracking and Monitoring

· Project Cost Management

· Earned Value Control Process

· Schedule Variances

· Cost Variances

· Progress Control Charts

· Schedule and Cost Variance Forecasting

· Labor Management and Cost Control

· Materials Management and Cost Control

· Earned Value Analysis

· Earned Value Reporting