(2024-25 FA) BUAD 465-OLS 665 A - Project Management
Section outline
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Here is the Zoom link for this class (please do not share this with anyone who is not enrolled in this class - it is exclusively for that purpose.)
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This list includes e-mail contact information, so that you can send group papers to your partnering group. Remember:
Group 1 shares with Group 2
Group 2 shares with Group 3
Group 3 shares with Group 1Step One: Project Proposal and Plans are Due on December 8th; send a copy of this to your partnering group AND send a copy to me; I will not grade this version, but I need to know you have completed it by the deadline.
Step Two: Receiving groups should return feedback to the original group by December 11th.
Step Three: Final projects should be sent to me by December 13th (these are what I will grade.)
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Use this document/template as a guide for shaping your final group project.
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This is an additional planing process approach that you might be interested in (and that might stimulate your thinking.) Feel free, though, to stick to the steps as outlined in our textbook - I offer this here simply as an additional resource to stimulate your thinking.
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Steps:
1. Detail what the various steps of the project will be (write these on sticky notes).
2. Arrange the sticky notes on a white board, in order one after another, for those tasks that are contingent on each other (and in parallel for those tasks that can be done while other tasks are begin completed). Thus, you will end up with tasks that need to be done before others, you will have tasks that need to be done after others, and you will have tasks that can be completed alongside of other tasks (at the same time as others).
3. Draw arrows from each sticky note/task to other ones; exept for the beginning and the ending task, each one should have at least one arrow going into it and one arrow going out (more than one might be going in or going out on some of them, of course).
4. Assign blocks of times (days, weeks, months) that each task will take (these should be reasonable or expected amounts)
5. Find your critical path - the time critical path that will take the longest for you to go through (in the image, the critical path is denoted by way of the red line on the white board).
6. Build in contingency with the 90% rule:
a. For each task on the critical path (and ONLY on the critical path), determine with great honesty what the worst case time scenario will be for that task - add the additional worst case scenario time to each task, coming up with a new 'worst case scenario' number for that task.
b. Add up each of the new numbers on the critical path, arriving at a new aggregate worst case scenario number for your critical path.
c. Take the difference between your new worst case scenario critical path number and the old critical path number and divide it in half (this is your new 90% number, the amount of additional time you need to add to the critical path in order to make your project 90% achievable in terms of total project time.)
d. Do not simply add this additional number (half of the difference between your two critical path numbers) to the old critical path figure - instead, go back through your critical path and sprinkle bits of your additional time into each of the tasks/steps of your critical path.
e. This new critical path is now the critical path you will use when you submit your projections as to how much time your project is going to take.
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Making Gantt Charts with Excel - Chapter 8
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How to Monitor Project Progress
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Cost Monitoring-The Potential Traps
The Six Combinations of Progress and Spend
How to Forecast Future Cost
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When to Re-adjust the Plan
What to Do When Your Project is Late or Over Budget
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Why People Avoid Reviewing Projects
How to Review a Project
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