FIT2002
Information Technology
FIT2002
IT Project Management
November, 2020
Seminar 12
Unit Summary & Exam Review
Unit Schedule
2
Week Activities Assessment
0
Watch FIT2002 Introduction video and week
1 pre-class video
No formal assessment or activities are
undertaken in week 0
1
Introduction to the unit;
Introduction to project management
Pre-class activity and online quizzes due every
Monday 11pm (from Week 2 to 11)
2
Project/product lifecycles and organisational
structures
3 Project integration management Assignment 1: Running Case 1 handed out
4 Project scope management Assignment 1: Running Case 2 handed out
5 Project schedule management Assignment 1: Running Case 3 handed out
6 Project cost management Assignment 1: Running Case 4 handed out
7 Project risk management Assignment 1 due Friday 18 Dec 2020 5pm
Semester Break (21 December 2020 – 3 Jan 2021)
8
Project quality and procurement
management
Assignment 2: Running Case 5 handed out
9
Project communication and stakeholder
management Assignment 2: Running Case 6 handed out
10 Project resource management Assignment 2: Running Case 7 handed out
11
Project Management Process Group and
Agile vs Predictive Approach Assignment 2 due Friday 29 Jan 2021 11pm
12 Wrap up
Oral presentation during Week 12 tutorial
Lecture 1 – Introduction to Project Management
Explain what a project is, list various attributes of projects, and describe the
triple constraint of project management
– A project is a temporary endeavor undertaken to create a unique product,
service, or result
Describe project management and discuss key elements of the project
management framework, including project stakeholders, the project
management knowledge areas, common tools and techniques, and project
success
Discuss the relationship between project, program, and portfolio management
and the contributions each makes to enterprise success
– Project management is the application of knowledge, skills, tools, and
techniques to project activities to meet project requirements
– A program is a group of related projects managed in a coordinated way
– Project portfolio management involves organizing and managing projects
and programs as a portfolio of investments
Project managers play a key role in helping projects and organizations succeed
3
Lecture 2 – Organisational structures and
Project and Product Lifecycles
Project managers need to take a systems approach in order to successfully
manage projects – to consider projects within the greater organisational context.
To ensure project success, IT project managers need to integrate business and
organisational issues as well as technology into project planning.
Organisations have four different frames – structural, human resource, political
and symbolic frame. Project managers need to understand all of these aspects
of organisations to be successful.
The three basic organisational structures: functional, matrix, and project.
– Project managers have the most authority in a pure project organisation, an
intermediate amount of authority in a matrix organisation, and the least
amount of authority in a pure functional organisation.
Organisational culture also affects project management. Projects are more
likely to succeed in certain culture especially where there’s a balance among
the dimensions of people focus, control and means orientation.
4
Lecture 2 (cont..)
Project managers must identify and understand the different needs of all
stakeholders involved with their projects.
Top management commitment is crucial for project success.
Proper IT governance and development standards and guidelines assist most
organisations in managing projects.
A project life cycle is a collection of phases. Traditional project phases include
concept, development, implementation, and close-out.
– A project should successfully pass through each project phase in order to
continue to the next phase.
Systems development projects can use predictive or adaptive software
development models (ASD).
Examples of Predictive life cycle : the waterfall, spiral, incremental build,
prototyping and RAD
Some examples of ASD include extreme programming, feature driven
development, dynamic systems development model, and scrum.
5
Lecture 3 – Project Integration Management
Project integration management involves coordinating all of the other project
management knowledge areas throughout a project’s life cycle.
Project integration management includes 6 processes:
1. Developing the project charter
2. Developing the project management plan
3. Directing and managing project work
4. Monitoring and controlling project work
5. Performing integrated change control
6. Closing the project or phase
Common techniques for selecting projects:
– broad organisational needs – need, funds and will
– categorising projects – project’s impetus, time window, overall priority
– performing financial analyses – NPV, ROI, Payback
– developing weighted scoring models, and
– using balanced scorecards.
6
2.
Develop
Project
Manage
ment
Plan
1. Develop
Project
Charter
3. Direct
& Manage
Project
Work
4.
Monitor
&
Control
Project
Work
5.
Perform
Integrated
Change
Control
6.
Closing
Project
or Phase
Lecture 4 – Project Scope Management
Project scope management includes the processes to ensure that the project
addresses all the work required to complete the project successfully.
7
The six main processes
of scope management
Lecture 5 – Project Schedule Management
Project time management involves planning the schedule, defining and
sequencing activities, estimating activity resources and durations and finally
developing the schedule and controlling the schedule throughout the life of the
project
8
The seven main
processes of time
management
Lecture 6 – Project Cost Management
9
Planning cost management involves determining the policies, procedures, and
documentation used for planning, executing, and controlling project cost.
Types of cost estimates: rough order of magnitude, budgetary and definitive.
Tools and techniques to develop cost estimates – analogous estimating, bottom-
up estimating, parametric estimating, and computerized tools.
Determining the budget involves allocating costs to individual work items over
time.
Controlling costs includes
monitoring cost
performance, reviewing
changes, and notifying
project stakeholders of
changes related to costs.
– Earned value management
is an important method
used for measuring project
performance.
The four main processes
of cost management
Lecture 7 – Project Risk Management
10
Project risk management is a process in which the project team continually
assesses what risks may negatively or positively affect the project, determines
the probability of such events occurring, and determines the impact if such
events occur.
Risk management also involves analysing and determining alternate strategies
to deal with risks.
The six main processes
of risk management
Lecture 7 (cont..)
Contingency plans are predefined actions that a project team will take if an
identified risk event occurs.
Fallback plans are developed for risks that have a high impact on meeting
project objectives, and are implemented if attempts to reduce the risk are not
effective.
Contingency reserves are provisions held by the project sponsor or organization
to reduce the risk of cost or schedule overruns to an acceptable level.
Tools for qualitative risk analysis include a probability/impact matrix and the Top
Ten Risk Item Tracking technique.
Tools for quantitative risk analysis include decision trees (using EMV) and
Monte Carlo simulation.
The four basic responses to negative risks are avoidance, acceptance,
transference, and mitigation.
The four basic response strategies for positive risks are risk exploitation, risk
sharing, risk enhancement, and risk acceptance.
11
Lecture 8 – Project Quality & Procurement
Management
12
Planning quality management identifies which quality standards are relevant to
the project and how to satisfy them.
Performing quality assurance involves evaluating overall project performance to
ensure that the project will satisfy the relevant quality standards.
Controlling quality includes monitoring specific project results to ensure that
they comply with quality standards and identifying ways to improve overall
quality.
The three main
processes of quality
management
Lecture 8 (cont..)
Planning procurement management involves deciding what to procure or
outsource, what type of contract to use, and how to describe the effort in a
statement of work.
Types of contract – Fixed-price contracts, Cost-reimbursable contracts, Time
and material contracts
13
The four main processes of
procurement management
Make-or-buy analysis, statement of
work (SOW), Request for proposal
(RFP) and Request for Quote (RFQ)
Conducting procurements involves
obtaining seller responses, selecting
sellers, and awarding contracts.
Controlling procurements involves
managing relationships with sellers,
monitoring contract performance, and
making changes as needed.
Closing procurements involves
completion and settlement of each
contract, including resolution of any
open items.
Lecture 9 – Project Communication &
Stakeholder Management
14
Keys to good communications: focusing on individual and group communication
needs, using formal and informal communication methods, providing important
information effectively and timely, setting the stage right for bad news, and
understanding communication channels.
Managing communication includes creating and distributing project information –
important to determine the most appropriate means for distributing information.
The three main processes
of communication
management
Lecture 9 (cont..)
When managing stakeholder engagement, project managers and teams must
understand various stakeholders’ expectations and use their communications
and interpersonal skills.
A stakeholder analysis is a key technique used in planning stakeholder
engagement.
15
The four main processes of
stakeholder management
Stakeholder register –
Stakeholders can be internal or
external to the organization, and
they might support or oppose your
project
Stakeholder management plan –
describes stakeholder engagement
levels, inter-relationships,
communication requirements,
management strategies, and a
process for updating the plan.
Issue log – a document used to
help track and resolve issues on
projects.
Lecture 10 Part 1: Project Resource Management
People are the most important assets in organizations and on projects.
Therefore, it is essential for project managers to be good human resource
managers.
Herzberg (motivators and hygiene factors); McGregor (Theory X and Y)
16
The four main
processes of human
resource management
Lecture 10 (Part 2) – Project Monitoring &
Controlling
17
Earned Value Management (EVM) – a technique used to help determine and
manage project progress
It evaluates the magnitude of any variations from the planned values
concerning cost, schedule, and performance
It helps the project team and stakeholders gain a better understanding of just
how the project is performing
Planned Value = PV (or BCWS) = (Planned % Complete) x (Project Budget)
Actual Cost = AC (or ACWP)
Earned value = EV (or BCWP) = (Actual % complete) x (Project Budget)
Cost Variance (CV): CV = EV – AC
Cost Performance Index (CPI): CPI = EV/AC
Schedule Variance (SV): SV = EV – PV
Schedule Performance Index (SPI): SPI = EV/PV
Budget at Completion = BAC
Estimate to Complete (ETC): ETC = (BAC- EV)/CPI
Estimate at Completion (EAC): EAC = AC + ETC
Earned Value Formula
Lecture 11 – Project Management Process
Group and Agile Approach
The five project management process groups are initiating, planning, executing,
monitoring and controlling, and closing.
1
8
Ideas
Project
Charter
Initiation/
Concept Phase Intermediate Phases
Delivery/
Handover
Final Phase
Final
acceptance
Concept Phase 1… Phase n…
Close-out/
Delivery
Lecture 11 (cont..) – Agile Approach
Scrum Roles – product owner, Scrum Master, Scrum team or development
team
Scrum Artefacts include: Product backlog, Sprint backlog, Burndown chart
Scrum Ceremonies – Sprint planning session, Daily Scrum, Sprint review,
Sprint retrospectives
19
Exam Preparation: Format of the Exam
The exam is 2 hours 10 mins and contributes to 50% of the unit
assessment
It will consist of FOUR (4) parts:
Part A: 20 multiple choice questions worth 1 mark each. 20 marks
Part B: 5 short answer questions worth 2 marks each. 10 marks
Part C: Case Study with 3 sub-parts 15 marks
Part D: Calculation – 4 questions with sub-parts 35 marks
Total 80 marks
Refer to the Mock eExam (link provided in Moodle).
Part A: Multiple Choice Questions
There will be 20 multiple choice questions each worth 1 mark.
No “filling in the blanks” questions.
About 2 ~ 3 questions from each lecture.
Best way to prepare for this is to attempt the online quizzes which
would be made available on Moodle shortly (for unlimited attempts).
Part B: Short Answer Questions
There will be 5 short answer questions each worth 2 marks.
This can come from any lecture (Lecture 1 – 11 ).
Would be good to go through your tutorial questions
Part C – Case Study
There will be 3 sub-parts totalling 15 marks.
– You will be given a scenario
– What you’ve done in assignment would help
– Possible topics/questions:
• Requirements traceability matrix
• Stakeholder register and/or analysis
• Communication management plan
• Risk management – Risk register
• Issue log
• Other concepts covered in the unit
Part D – Calculation
Topic: Earned value management (8 marks)
– Be able to:
• Calculate the Cost Variance, Schedule Variance, Cost
Performance Index and Schedule Performance Index for a
project.
• Interpret the results.
– Refer to Week 6 & 10 materials to prepare for this
– Formula is given (as shown in mock exam paper)
Part D – Calculation
Network diagram worth 12 marks
– Topic: Project time management (week 5 materials)
– Be able to:
• Draw a project network diagram using the activity on node
method.
• Perform calculations (estimated time and floats for each activity)
on the project network.
• Identify the critical path.
• Identify the impact of a delay of any activity on the project
duration.
Section D – Calculation
Project compression (worth 15 marks )
– Topic: Project time management
– Refer: Project crashing video in Week 5, Seminar 6, Tutorial 6 &
extra exercise.
– Be able to perform network compression (refer to next slide).
– Templates will be given in the exam
Steps to perform network compression:
1. Draw an all-normal network diagram, and find out the critical path.
2. Pay a close attention to “network limitation”, and find out which activities are not to be
compressed then cross these activities out.
3. Start to compress the activity in critical path by the number of days until the next chain
become critical. And calculate the increase in project cost.
4. If a second critical path develops then we must compress each chain by an equal amount
to achieve compression. If there were three critical paths then we would have to compress
each of the three chains by the same amount to achieve a certain compression. Then
again repeat the network calculation and the cost increase.
5. Repeat step 4 until full crash of the project.
6. Prepare a quotation to compress the project to the certain required duration. And calculate
the activity duration.
7. Calculate the minimum target selling price based on the following formula:
Total build cost = Normal project cost + Extra cost to achieve the required duration
Target selling price = (1 + margin) x Total build cost
To pass a unit which includes an examination as part of the assessment a
student must obtain:
• an overall unit mark of 50% or more, and
• 40% or more in the unit’s examination, and
• 40% or more in the unit’s total non-examination assessment.
If a student does not achieve 40% or more in the unit examination or the unit
non-examination total assessment, and the total mark for the unit is:
• greater than or equal to 50% then a mark of 49-N will be recorded
• less than 50% then the actual mark for the unit will be recorded.
• Suggestions for exam preparation: All video recording, all
seminars and tutorials.
• See mock eExam – link provided in Moodle
• Check exam consultation times
Faculty Policy – Unit Assessment Hurdles Policy
Pre-Exam Consultation
Please refer to Moodle for the most updated schedule.
Please feel free to email Mary (poh. ) if you can’t
make it for the above consultation or post your question on the Ed
discussion forum.
Date: Time: Zoom link:
Tue 9-Feb 2pm – 3pm
https://monash.zoom.us/j/93737387165?pwd
=VE14Mzh2cHJlQU9UWFFxeFowdVlFUT09
Wed 10-Feb 12pm – 1pm
https://monash.zoom.us/j/81742885396?pwd
=OVFUdlJZdnRiRjJYSHRDbTZGMlladz09
Thu 11-Feb 2pm – 3pm
https://monash.zoom.us/j/98633923616?pwd
=SUhIZ09KbzkwNEtURTZjNjlvRWx0QT09
Fri 12-Feb 10am – 11am
https://monash.zoom.us/j/93470179155?pwd
=b0VSWEJRZDlKT3U4WTVGdEZENTFyZz
09
mailto:poh.
https://monash.zoom.us/j/93737387165?pwd=VE14Mzh2cHJlQU9UWFFxeFowdVlFUT09
https://www.google.com/url?q=https://monash.zoom.us/j/81742885396?pwd%3DOVFUdlJZdnRiRjJYSHRDbTZGMlladz09&sa=D&source=calendar&ust=1605432364228000&usg=AOvVaw2R4xgDwnRSN9coUsVpZH5w
https://monash.zoom.us/j/98633923616?pwd=SUhIZ09KbzkwNEtURTZjNjlvRWx0QT09
https://monash.zoom.us/j/93470179155?pwd=b0VSWEJRZDlKT3U4WTVGdEZENTFyZz09
Revision Session
Date & Time: Tue 9 Feb10am – 12pm
Zoom link: same as the seminar zoom link
Revision – NPV, EVM, Project compression
Please email (poh. ) if you have any
particular topics that you would like to go through
Zoom session will be recorded
mailto:poh.
Good Luck!!
Please hop on this link to do an evaluation:
• SETU can be accessed through the Moodle block
(http://moodle.vle.monash.edu/my/ ) listed under
the units section in Moodle.
• SETU can be accessed directly through the SETU
survey landing page –
https://monash.bluera.com/monash
http://moodle.vle.monash.edu/my/