1. Develop project charter - Initiating
2. Develop project management plan - Planning Group
3. Direct and Manage project execution - Execution
4. Monitor and control project work - M and C
5. Perform Integrated change controls - M and C
6. Close project or phase - Close
Process Group
Develop Project Charter
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<B>Input </B>
1. Project statement of work
2. Business case
3. Contract
4. Enterprises environmental factors
5. Organizational process assets
<B>Tools and Techiniques </B>
Expert judgement
<B> Output </B>
Project Charter
- Creating the project charter involves the high level of planning to assess it is feasible within the given constarints.
<b>Project Charter includes</b>
1. Project Title and Description
2. Project manager assigned and Authority leavel
3. Business Case
4. Resource Preassigned
5. Stakeholders
6. Stakeholders requirements as known
7. Product description and deliverables
8. Measurable Objective
9. Project Approvel Requirement
10. High level project risk
11. Project sponsors authorising this project
The following needs to be done for develop teh project charter
1. Identify stakeholderes
2. Meeting with key stakeholders to confirm high level requirement, project scope, risks assemption and issues
3. Defining product scope
4. Defing project objectives ,constarints and scuccess criteria
5. Documenting risks
<B>Business Case</B>
- Business case captures the business need
Project Selection
---------------------
The folowing are the categories of the project selection methods
1. Benefit measurement methods (Comparative approach)
- Murder board
- Peer review
- Scoring Models
- Economic models
2. Constrained optimization methods (Mathematical approach)
- Linear programming
- Integer programming
- Dynamic Programming
- Multi objective programming
Economic Models for project selections
- Present value
- Net present value
- Internal rate of retursn
- Playback period
- Cost befefit analysis
Present Value
PV=FV/(1 + r) power n
FV = Feture value
r = Intrest rate
n = number of time periods
Net Present value
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NPV= Total Benifit - Cost over many time period
The project with the greatest NPV is typically selected.
Internal Rate of Returns(IRR)
------------------------------------
The Highest value of the IRR project will be selected.
Payback Period
-------------------
The shorter backback period project will be selected
Cost benifit analysis
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The cost benifit ratio is > 1 = The benifits are grater then Cost
The cost benifit ratio is = 1 = The benifits and Cost are same
The cost benifit ratio is < 1 = The benifits are less then Cost
Typecelly the project with the the value greater then 1 and the larger value project will be selected
Economic value Added (EVA)
This concept is concerned with whether the project returns to the company more value then the initiative cost.
Opportuniuty Cost
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Opportunity given up by selecting one project over another.Project thanjavur is $ 1,000,000,000 is selected and the opportinuty cost is $900,000,000 (for project kumbakonmam)
Sunk Cost
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Sunk cost is already spent cost. Spent cost should not consider to determain whether to continue the project or not?
Law of diminishing returns
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After certain point , adding more inputs will not produce the propositional incresses in the productivity.
Working Capital
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Current Assets - current liabilities. Thsi is the amount of the money the companty has available to inverst.
Depreciation
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The equipment purchased by the company lose the value over time.It is called the depreciation
There are two forms of depreciations
1. Strigth line depreciation
2.Accelerated depreciation
- Double declining balance
<l> http://beginnersinvest.about.com/od/incomestatementanalysis/a/double-declining-balance-depreciation-method.htm</l>
- Sum of year digit
<l> http://beginnersinvest.about.com/od/incomestatementanalysis/a/sum-of-the-years-digits-depreciation.htm</l>
Constarints and Assemptions
-----------------------------------
They are identified at the highlevel in the initiating and are refined and documented in detail as part of the scope defin processin project planning.
Once they are identified, constarints and assemptions needs to be managed. The stakeholders , team and sponcers may help to identified the constarint and assemptions.
if the constaint is changed , project management plan may be changed.
Project Statement of work (SOW)
Charter with work under contarct
Enterprise environmental factor
Project management information system
Organizational process asset
- Process procedures and policies
- Corporate Knowlwdge Base
- Historical Informations
Lessons Learned
Develop Project Management Plan
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- is series of plans and base lines.
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