Fundamentals of
Project Planning and
Management
Week 4: Ready, Set, Go!
Yael Grushka-Cockayne
Fundamentals of
Project Planning and Management
Week 1
Define and
Organize
Project Goal
The Three
Objectives
and their
Priorities
Organization
Week 2
Plan
Project
Scoping
Dependencies
Schedule
Trade-Offs
Week 3
Improve Plan
Assessing
Risks and
Planning for
Ambiguity
Week 4
Execute
Modes of
Execution
And those
who execute
Project: Launch and Manufacture Lumi Juice
Image
Credit:
Hillary
Lewis,
Lumi
Project Life-Cycle
Initiate
Plan
Establish
organization
Project Charter
and Definition
Identify Scope
Identify tasks,
dependencies
and schedule
Plan resources
Clarify tradeoffs and
decision
making
principles
Develop a risk
management
plan
Execute
Monitor
Communicate
and report
Correct and
control
Close
Sign off
Conduct a
formal postmortem
Project Execution
What decisions will be
made?
What actions will be
taken?
Who is in charge of
the execution?
How will the outcomes
be communicated?
Correct
and
Control
Monitor
Physical or Virtual?
Frequency?
Project Management Office?
What information will be
monitored?
Execute
Report
Collect
Frequency?
By Who?
To Who?
Startup Project
Startup
Project
Crea@ve
Strategy
IT
Fundraising
Marke@ng
Sales
Finance
HR
Startup Project: 12 Weeks, $8500
Activity #
1
2
3
4
5
6
7
8
Description
Creative
Strategy
IT
Fundraising
Marketing
Sales
Finance
HR
Predecessors
1
1,2
1,2
5,6
4,6
Duration
(Weeks)
5
2
4
4
2
5
2
1
Cost
$1000
$500
$3000
$500
$2000
$500
$750
$250
Start Date Monday January 19, 2015
Status On Monday February 1, 2015
Activity
#
1
2
3
Description
Creative
Strategy
IT
Duration
(Weeks)
5
2
4
Cost
$1000
$500
$3000
Work
Completed
25%
75%
25%
Money
Spent
$500
$300
$1000
Status On Monday February 1, 2015
Earned Value Analysis
Creative: 25% completed, actual cost $ 500
Scheduled work
Actual work
Budgeted Cost
Planned Value
Earned Value
Actual Cost
= 40% (2w/5w)
= 25% (1.25w/5w)
= $ 1,000
= 40% x 1,000 = $400
= 25% x 1,000 = $250
= $500
Schedule Performance Index (SPI) = Earned Value / Planned = 63%
Cost Performance Index (CPI) = Earned Value / Actual = 50%
Performance Indices
On track:
Schedule
Performance
Index (SPI) = 1
120%
110%
100%
CPI
90%
80%
On track:
Cost Performance
Index (CPI) = 1
SPI
Time
Earned Value Analysis
Measure
Equa*on
Comment
Earned
Value
(EV)
EV=%
work
completed
baseline
cost
BCWP,
Budgeted
cost
of
work
performed
Planned
Value
(PV)
PV=%
work
scheduled
baseline
cost
BCWS,
Budgeted
cost
of
work
scheduled
Actual
Cost
(AC)
ACWP,
Actual
cost
of
work
performed
Schedule
Variance
(SV)
SV=EV-PV
Cost
Variance
(CV)
CV=EV-AC
Schedule
Performance
Index
(SPI)
SPI
=
EV/PV
SPI
<
1:
Project
is
behind
schedule
SPI
>
1:
Project
is
ahead
of
schedule
Cost
Performance
Index
(CPI)
CPI
=
EV/AC
CPI
<
1:
Project
is
over
budget
CPI
>
1:
Project
is
under
budget
Cost-Schedule
Index
(CSI)
CSI
=
CPI
SPI
CSI
<
1:
Project
is
not
healthy
CSI
>
1:
Project
is
healthy
How Bad is it?
Critical Path not affected
Less than a week delay
$925 over expected budget
Why are Projects still Late? Over Budget?
Technical factors:
Internal complexity
External complexity
Why are Projects still Late? Over Budget?
Technical factors:
Internal complexity
External complexity
Human factors:
Multi-tasking
Why is Multi-tasking bad?
Why is Multi-tasking bad?
Why are Projects still Late? Over Budget?
Technical factors:
Internal complexity
External complexity
Human factors:
Multi-tasking
Parkinson's Law
Student Syndrome
Can We Overcome?
Project level buffers
Small dedicated teams
Specific short tasks
Team work
Why Agile?
Technology firms
Release pace was declining
Quality was suffering
Engineer moral
Padding and no accountability
Agile Manifesto
Agile Principles and Manifesto
Agile Variations
Scrum Sprints
An iterative framework within which people can address complex adaptive
problems, while productively and creatively delivering products of the highest
possible value.
www.scrumguides.org
Kanban
Continuous flow model with no iterations. Suited for short-cycle deliverables,
limiting work in progress.
Agile (Scrum) Team
Cross-functional (programmers, test, design)
Members should be committed full-time
Self-organizing team
Developers
Scrum
master
Product
owner
Customer
The Sprint
Product
Backlog
Sprint
Backlog
Delivered
Item
Critical to Agile success: The Meetings
Product
Backlog
Delivered
Item
Sprint
Backlog
Sprint
Planning
Daily
Scrum/Stand
up
Sprint
Retrospec@ve
Sprint
Review
Benefits to Agile
Empowers the Development team
Independence, autonomous, focused team.
Developers want to deliver a product to the client.
Creates joint incentives and transparency with the client.
Helps firms build the right thing, at the right time, and build
it right!
Contention Around Agile
A living in the moment culture
Less documentation
#noestimates movement
Hard to master requires the right
mindset
Can be challenging with Distributed
teams
Framework for selecting PM Method
Critical Path
WBS, task driven
Critical path
Complete picture of project
Time
Scope
Agile
Short iterations
Continuous delivery
Self guided teams
Working closely
with client for
common goal
When scope is
highly uncertain
Budget
Project Life-Cycle
Initiate
Plan
Establish
organization
Project Charter
and Definition
Identify Scope
Identify tasks,
dependencies
and schedule
Plan resources
Clarify tradeoffs and
decision
making
principles
Develop a risk
management
plan
Execute
Monitor
Communicate
and report
Correct and
control
Close
Sign off
Conduct a
formal postmortem
