Chapter 7 ideas

1.  A realistic schedule is a key component of a successful project.  It includes a detailed knowledge of work to be done and has task sequences in the correct order.  It also accounts for external constraints beyond the control of the team.  It can be accomplished on time, given the availability of skilled people and adequate resources.  A realistic schedule takes into account all the objectives for the project. 

2.  Planning the project is important groundwork to follow.  First you want to create the project definition.  The project manager and the project team develop the statement of work, which identifies the purpose, scope, and deliverables for the project.  Second, develop a risk management strategy, which evaluates the likely obstacles and creates a strategy for balancing costs, schedule, and quality.  Build a work breakdown structure that identifies all the tasks required to build the specified deliverables.   Identify task relationships by placing the work packages in their proper sequence.  Then estimate the work packages by the amount of labor and resources needed for the duration of the task; after the team calculates the total duration of the project.  Revisions will probably be needed down the line.  Last you want to assign and level resources for constraints.  The tasks are rescheduled to optimize the use of all resources efficiently. 

3.  Setting markers along the sequence of the project planning schedule is a useful tool.  Many project managers use these milestones in the work breakdown structure and network diagrams.  Project start and finish milestones are useful anchors for the network.  Setting these makes the project diagram easier for people to interpret.  Also milestones can be used to mark input from one party to another.  Team members and public events can be external sources that can cause setbacks to the timing of the project.  Last, a milestone can represent significant events that aren’t already represented by a work package or summary task.  Basically, milestones are useful to show major progress points, but the ultimate progress indicator lies in the detailed work packages. 

4.  Bottom-Up estimating is a cost and schedule estimate for each work package.  A lot of information is generated in the estimating process, so being systematic is important.  Cost estimates come from four sources: Labor estimates, equipment estimates, materials estimates, and fixed-price bids.  It is necessary to concentrate on costs because they all represent a resource constraint.  This is due to the significant nature of living in a world of limited resources.

Risk Analysis #2

	Risk analysis template - fill out for a specific risk
Project Name	Bathroom Remodel
Risk ID #	2
Responsible person	Time constraints not met
Risk identification date	[mm/dd/yy]
Condition	The project could extend into extra working days.
Trigger event	Finding contingencies along the way that take adjustments to fix
Consequence/Impact description	The project would extend for a longer time period costing more money and taking away vital time for the use of our facility.
Consequence/Impact value (quantify impact)	200.00
Probability (choose from 20, 40, 60, 80)	80.00%
Expected Value	160
Response Strategy	Stay up to date on outcomes and resolve issues effectively and promptly
Known Cost of Response	This will cost $25/hr for every hour of overtime spent on the project.
Contingency for Response	From the start the demolition phase will determine the amount of time to construct the bathroom.  The quicker we can get the old fixtures out and prep the area, the faster the project can get underway.
WBS Relationship (tasks associated with condition or response strategy)	I will get a head start with the demolition of the old fixtures, most likely the night before I will start some removal. Mark will arrive early in the day to help finish with the rest.

Risk Analysis

	Risk analysis template - fill out for a specific risk
Project Name	Bathroom Remodel
Risk ID #	1
Responsible person	Water leakage or uncovering previous water damage behind walls or flooring
Risk identification date	[mm/dd/yy]
Condition	When removing the backerboard from the wall finding a leaking pipe
Trigger event	Discovering the problem upon removal of items
Consequence/Impact description	Have to replace the pipes, wall studs, and or floorfoundation on the upperlevel of the condominium.
Consequence/Impact value (quantify impact)	2500.00
Probability (choose from 20, 40, 60, 80)	20.00%
Expected Value	500
Response Strategy	Assuming no pre-existing water damage, do not damage existing piping.
Known Cost of Response	0
Contingency for Response	Have the plumber be present when working around the piping.  Also have plumber pre-inspect the area before continuing with instalation.
WBS Relationship (tasks associated with condition or response strategy)	The general contractor will work with the removal of tile, backerboard, and tub.  The plumber will inspect the area before having to replace any piping. We already will replace parts of the piping for the faucet.

Work Breakdown Structure

Bathroom Remodel Project

1.0. Design Home Bathroom

2.0. Remove old bathroom fixtures

     2.1. Remove ventilation fan

     2.2. Remove sink

      2.3. Remove lights

         2.3.1 Shut off fuse box to the bathroom    

      2.4. Remove tiles

      2.5. Remove tub

      2.6. Remove toilet

      2.7. Remove flooring

      2.8. Remove backer board

      2.9. Remove tub/shower faucet

         2.9.1 Shut off water supply

3.0. Construct the bathroom

      3.1. Purchase new bathroom fixtures

      3.2. Install new bathroom fixtures

         3.2.1. Install new brass pipe fixture for tub/shower faucet

         3.2.2. Replace backer board

            3.2.2.1. Tape backer board to sides of existing drywall

         3.2.3. Install new tub assembly

            3.2.3.1. Line edges of tub with caulking sealant compound

         3.2.4. Set tiles along the shower wall using tile mixture

         3.2.5. Install shower curtain rod

         3.2.6. Install faucet fixtures for shower/tub

         3.2.7. Set tile flooring

         3.2.8. Install new sink

         3.2.9. Install new vanity light fixture

         3.2.10. Install toilet

            3.2.10.1. Set new wax floor gasket

      3.3. Paint bathroom

       

Chapter 6 Ideas

1.  Perhaps the technique that’s the most powerful in this book is the work breakdown structure.  The WBS identifies all the tasks involved in the project.  Putting it together will help with a variety of areas such as, building your project teams, create accurate cost and schedule estimates, provide a detailed illustration of project scope, and monitor progress.  The WBS can be constructed in either graphic or outline form.  All of the work in the project is broken down into separate tasks or activities.  These tasks then split into two categories: summary tasks and work packages. 

2.  Building a work breakdown structure is not always an easy task in of itself.  But, building a sound WBS will make managing the project easier plus make it easy for everyone on the project to understand their role.  The first step in developing a WBS is to start from the top.  The details are broken down into descending levels that name all the tasks required to create the deliverables listed in the statement of work. The second step is to name all the tasks required to produce deliverables.  These are the activities that collectively produce a product.  This is the most challenging part of the WBS because it’s where the detailed process for building the product or service is defined.  The third step is determining how to organize the WBS.  After everything is defined, it is possible to rearrange them in different ways.  Different aspects of the project can be emphasized through a reorganization of work packages. 

3.  A successful work breakdown structure has certain criteria.  It must be broken down from the top.  Using standard project management software will aid in a much more efficient user face.  Present meaningful project information at the summary task level.  Doing so enables you to track the project at the work package level.  Work packages must add up to the summary task.  Take extra concern when adding up the products of all the work packages below the summary tasks because the outcome is determined by those summaries.  Each summary task and work package must be named as an activity that produces a product.  Each activity should be given a verb that emphasizes it’s conviction so it can be followed and carried out. 

4.  Keep the sizes of the work packages in constraint.  If they are too large they can spin out of control.  To make sure the work packages are the correct size, there are some rules of thumb to follow.  The 8/80 rule states no tasks should be smaller than 8 labor hours or larger than 80.  The reporting period rule follows no task should be longer than the distance between two status points.  Meaning, meeting intervals determine the lengths of the tasks. Only break down the tasks if it proves to be useful, otherwise don’t extend the effort.  

Chapter 5 Ideas

Chapter 5

1.  All project management is risk management, which is the primary job of a PM.  The techniques used in project management are essentially utilized to mitigate risks throughout the project.  Thus, however in project management there is a specific risk management process that identifies, manages, and projects the outcomes of risk for the project.  Each assumption represents a specific threat.  Risk management influences the project plan and changes assumptions in the project rules.  Planning has two major components: risk management and schedule and budget development.  These two mechanisms interchange first with the side of RM, where items like deliverables, development approach, responsibilities, and risk monitoring flow into the schedule & budget.  Once those attributes are declared, they each develop new risks that flow back against the project. 

2.  The framework of risk management is materialized in a process that is repeated during the project life cycle.  Risks need to be identified in the beginning phase.  These would be the known risks that potentially can arise.  Once the risks are collated they can be analyzed and prioritized according to degree.  Then a response plan can be produced; one which establishes reserve requirements on contingent and unknown risks, and another for continuous risk management.  The risk management process as mentioned in section one of my ideas, will include monitoring for new threats, report regularly, and act upon risks taking place only to update the entire plan afterwards.  As my project goes through its phases, it will be necessary for myself to be informed every step of the way for contingency management.

3.  Now identifying risks should involve the team.  A great way to assess the risk factors for the project is to involve all of the stakeholders.  This is where all of their prior expertise (or lack of it) can come into action.  By brainstorming everyone’s ideas can surface in the open and be documented for further analysis. After the list has been created order them all by probability and magnitude.  Capture the easy answers but don’t fall out of focus on identifying the risk and avoid response development.  A more formal way to discover risks for the project is to interview each stakeholder.  Make sure to include all perspectives and embrace the mind-set of Murphy’s Law. 

4.  The strategies for dealing with risk are incorporated in the response plan development.  The most effective way to reduce risk is to reduce the impact, the probability, or both if possible.  There are five categories of classic risk response strategies and they are: accepting, contingency plans, transferring, and mitigating the risk.  When dealing with risk factors always take into consideration the business impact.  If you would like a high ROI, then more risk will have to be accepted.  In the same respect risk avoidance will lead to lower returns.  In my project, ROI is not a direct factor of concern.  A high amount of risk will directly impact my budget requirements approved for the project. 

Task Assignment

[Bathroom Remodel] Task Assignment		[Task Name]
Task WBS #	[n.n.n]
Task assigned to	Mark Marsu	Contractor
Assigned Date	8/19/2011
Task description	Excavation, Tiling, Construction
Completion criteria	To complete bathroom in a fully functional mode.
Planned Start Date	8/19/2011
Planned Finish date:	8/21/2011
Planned Labor costs
Planned Labor hours	24
Labor Rate	$25.00
Planned labor cost	$600.00
Planned non-labor costs
Predecessor tasks