Budgeting and Scheduling
Projects
Course Review
FPT University, Fall 2019 – Offline session 3
Content
• Course 2 Review
• Highlights
• Q&A
Course 2 Review – 1.1
• Some key terms:
• Quality & Grade
• Requirements
• Standards
• Quality Management Evolution:
• Prior to World War 1: Inspection
• WW1~1950s: Statistical & Mathematical techniques, control chart
• 1950~1960s: zero defect, prevention, total quality management
• Today: Strategic quality management, international standard, maturity model
Course 2 Review – 1.2
• Project Quality Management:
• Determining project quality policies, objectives and responsibilities
• Managing to meet the targets
• Some quality management disciplines:
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Customer Satisfaction
Prevention over Inspection
Continuous Improvement
Management Responsibility
• Plan Quality Management
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Input & Output
Product Quality vs. Project Quality
Cost of Quality
Quality Management Plan and Process Improvement Plan
Course 2 Review – 1.3
• Perform Quality Assurance :
• Input & Output
• Quality Audit
• Process Analysis
• Continuous Process Improvement
• Control Quality
• Input & Output
• Control Quality Tools
• Verify vs. Validate
Course 2 Review – 2.1
• Project Cost Management
• Planning, Estimating, Budgeting and Controlling costs
• Plan Cost Management
• Input & Output
• Some components of Cost Management Plan
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Units of measure
Control thresholds
Earned value rules
Reporting formats
Course 2 Review – 2.2
• Estimate Costs:
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Input & Output
Estimating methods: Top-down, Analogous, Parametric, Bottom-up
PERT technique
Avoid Padding
Cost Baseline, Contingency Reserve, Management Reserve
• Determine Budget:
• Input & Output
• Cost Baseline Budget, Project Budget, Management Reserve
• Cost Baseline Budget S-Curve
Course 2 Review – 2.3
• Control Costs:
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Input & Output
Control accounts
Actual Cost (AC)
Plan Value PV)
Earned Value (EV)
Cost Variance (CV), Over Budget, Under Budget, CPI
Schedule Variance (SV), Behind Schedule, Ahead of Schedule, SPI
Course 2 Review – 3.1
• Project Time Management
• Accomplish timely completion of the project
• Well defined and accurate project schedule is powerful tool for PM doing the
communication tasks (90% of PM effort)
• Plan Schedule Management
• Input & Output
• Some components of Schedule Management Plan
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Units of measure
Control thresholds
Rules of performance measurement
Reporting formats
Course 2 Review – 3.2
• Define Activities:
• Input & Output
• Work Packages
• Rolling Wave Planning
• Sequence Activities:
• Input & Output
• Project Schedule Network Diagram, Precedence Diagramming Method (PDM)
or Activity-on-Node (AON)
• Relationship between activities: FS, FF, SS, SF
• Dependency types: mandatory, external, discretionary
• Lead & Lag
Course 2 Review – 3.3
• Estimate Activity Resources:
• Input & Output
• Types of Resources
• Estimate Activity Duration:
• Input & Output
• Effort, Duration, Elapsed Time
• Estimating methods: Analogous, Parametric, Bottom-up, PERT
Course 2 Review – 3.4
• Develop Schedule:
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Input & Output
Critical Path Method (CPM): Early Start, Late Start, Early Finish, Late Finish
Forward Pass, Backward Pass, Float (Slack), Free Float, Total Float
Critical Path
Gantt (Bar) Chart, Milestone
Shortening technique: Fast Tracking, Crashing
Schedule Baseline
• Control Schedule:
• Input & Output
Highlights
• Get bonus for on-time Course 2 completion
• Deadline of Course 2 Completion: End of Tuesday of the 3rd week
Q&A