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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/