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![PERT FORMULA
PERT ESTIMATE = [TO + (4*TM) + TP] / 6
You are expecting to complete a task in 15 days.
It may take 25 days in the worst case.
If everything is good, it may take 10 days to be completed.
Most Likely Estimate (TM): 15 Days
Optimistic Estimate (TO): 10 Days
Pessimistic Estimate (TP): 25 Days
PERT ESTIMATE = [TO + (4*TM) + TP] / 6
[10 + (4*15) + 25] / 6
= 16 days
Scheduling & Risk
Project Plan Project Budget
WBS](https://image.slidesharecdn.com/group2-developingtheprojectplan-250903063956-9303e6ce/75/Group-2-Developing-the-Project-Plan-pdf-29-2048.jpg)
Group 2 - Developing the Project Plan.pdf
- 1. Project Plan Developing the Group2 SPECL 1
- 2. Project Plan Generally speaking,project planning is about juggling around the triple constraints of Scope, Time & Cost to develop a plan that defines a “feasible & preferable path” to success WBS Project Budget Scheduling & Risk Project Plan
- 3. Project Plan WBSProject Budget Scheduling & Risk Project tasks 1. Project schedule 2. Key milestones 3. Dependencies 4. Resources 5. What to include ©teamgantt
- 4. Project Plan WBSProject Budget Scheduling & Risk Project Planning Process in 5 Steps ©teamgantt
- 5. Project Plan Get toknow your team Expertise Interests Collaboration and communication styles Availability and workload WBS Project Budget Scheduling & Risk Start with project discovery and definition Understand the project scope and value Project goals and outcomes Partnerships and outlying dependencies Potential issues and risks 1 Interview key stakeholders You’ve got to know how they work and what they expect.
- 6. Project Plan WBSProject Budget Scheduling & Risk Draft a rough outline of your plan Sketch out the main components of your project plan Deliverables and the tasks required to create them Your client’s approval process Timeframes associated with tasks/deliverables Ideas on resources needed for tasks/deliverables A list of the assumptions you’re making in the plan A list of absolutes as they relate to the project budget and/or deadlines 2 Get input from your team on process, effort, and timing Be sure to get input from your team on how they can complete the tasks at hand without killing the budget and the team’s morale.
- 7. Project Plan WBSProject Budget Scheduling & Risk Formalize your project management plan Build out a detailed project schedule that’s easy to read Make sure tasks have clear start and end dates so there’s no question when work needs to happen to hit project deadlines. Organize work into phases, and use labels and/or color-coding to improve scannability. 3 Consider how your team likes to work Be as flexible as possible when it comes to how your project plan is presented. There's no absolute when it comes to how to format your plan as long as you and your team understand what goes into one.
- 8. Project Plan WBSProject Budget Scheduling & Risk Formalize your project management plan 3 Gantt Chart Task Board
- 9. Project Plan WBSProject Budget Scheduling & Risk Present and confirm your plan Run your final plan by your internal team Here are a few things you’ll want to discuss with your team as you review the final plan together: Review times Team work times Dependencies Time off, meetings, and milestones The final deadline Any assumptions you’ve made Major changes since your last talk 4 Review your project plan with stakeholders A short recap of the overall methodology, resources, assumptions, deadlines, and related review times will help you convey what the plan means to the project and everyone involved.
- 10. Project Plan WBSProject Budget Scheduling & Risk Execute your plan and adjust as needed Update your plan regularly as work progresses and things change Communicate changes to your team, partners, and stakeholders Monitor and communicate risks as your project evolves 5
- 11. WBS The WBS isdesigned to clarify the project’s scope and provide a visual framework for project execution. At the highest level, it typically includes major deliverables or phases, which are broken down into sub-deliverables, and finally into work packages. Work Breakdown Structure (WBS) Project Plan Project Budget Scheduling & Risk
- 12. Project objective The projectobjective provides a summary of what the project aims to achieve and serves as the foundation for breaking down the work into smaller, manageable pieces. “single source of truth” WBS Project Plan Project Budget Scheduling & Risk Major deliverables These are the key outcomes or phases required to achieve the project’s goal. They define the broad areas of work that need to be completed. Sub-deliverables Sub-deliverables clarify the intermediate steps or components needed to complete the major deliverables, ensuring that every aspect of the project is accounted for. Work packages Work packages include specific information about the effort, resources, and time required, making them crucial for tracking progress and managing Key components of a WBS
- 13. WBS Project scope isbroken down into manageable pieces and shown in a hierarchy, with the main deliverable or control account at the top, followed by individual work packages and tasks that must be completed to satisfy the deliverable. Deliverable-based WBS Project Plan Project Budget Scheduling & Risk Three major types of WBS include:
- 14. WBS This type ofWBS divides the scope of work based on project team member responsibilities. For every deliverable, the WBS illustrates which team members are involved, including their roles and responsibilities, who they report to, and so forth. Responsibility-based WBS Project Plan Project Budget Scheduling & Risk Three major types of WBS include:
- 15. WBS The phases ofthe project (i.e., Design, Procurement, Construction, etc.) constitute the highest- level elements, followed by their associated tasks and deliverables. Phase-based WBS Project Plan Project Budget Scheduling & Risk Three major types of WBS include:
- 16. Gather Critical Documents 1. Gather criticalproject documents. Identify content containing project deliverables, such as the Project Charter, Scope Statement and Project Management Plan (PMP) subsidiary plans. WBS Project Plan Project Budget Scheduling & Risk 2. Identify Key Team Members Identify the appropriate project team members. Analyze the documents and identify the deliverables. 3. Identify major deliverables Define the Level 1 Elements. Level 1 Elements are summary deliverable descriptions that must capture 100% of the project scope. Verify 100% of scope is captured. This requirement is commonly referred to as the 100% Rule. How to Make a Work Breakdown Structure
- 17. 4. Decompose (Breakdown) Elements Identifywork packages Ask the question, would any additional decomposition make the project more manageable? If the answer is “no”, the WBS is done. WBS Project Plan Project Budget Scheduling & Risk 5. Create WBS Dictionary Identify and describe the detailed activities required to complete each work package. List all management tasks, resources, and dependencies necessary to achieve the work package's goals. The descriptions should include information such as, boundaries, milestones, risks, owner, costs, etc. 6. Create Gantt Chart Schedule Organize the WBS components into a visual chart or diagram Export or enter the Work Breakdown Structure into a Gantt chart for further scheduling and project tracking. How to Make a Work Breakdown Structure
- 18. Project Budget A projectbudget is a financial plan that estimates how much money will be spent on a project, and when and for what. It's a key part of project planning and management. Project Budget Project Plan WBS Scheduling & Risk Why create a project budget? Avoid overspending Manage resources Control costs Communicate with stakeholders
- 19. What Is CostBreakdown Analysis? What Is a Cost Breakdown Structure? Cost breakdown analysis is the process of identifying what will determine the price of a product, service or any final project deliverable. A cost breakdown structure is a vital tool when managing the financial aspects of a project and helps to not only create a project estimate but also how to create measurable cost controls Project Budget Project Plan WBS Scheduling & Risk
- 20. Project Budget Four typesof Costs Project Plan WBS Scheduling & Risk What Costs Might Be Included in a Cost Breakdown Structure? Labor Costs Material Costs Equipment Costs Overhead Costs
- 21. Project Budget Create aWork Breakdown Structure (WBS) 1. Everything you have to do is outlined so determine which of those pieces are going to contribute to the cost of the project. 2. Identify Costs for Each Project Task You can break these costs into labor or direct costs, as well as materials, equipment, overhead, etc. 3. Define a Contingency Margin You need to build in a cushion if your estimates are off and factor in changes that could impact the project costs. How to Make a Cost Breakdown Structure Project Plan WBS Scheduling & Risk
- 22. SCHEDULING AND RISK ANALYSIS isa process to determine the achievability of a schedule and its chance of meeting the project’s defined goals. It is a quantitative analysis and is based on mathematical calculations, enabling the project to monitor potential schedule delays through the life of the project. MONTE CARLO SIMULATION
- 23. Critical Path Method(CPM) The critical path method (CPM) is a project management technique that’s used by project managers to create an accurate project schedule. The CPM method, also known as critical path analysis (CPA) or critical path scheduling, consists of using the critical path diagram to visually represent the task sequences of a project. Once these task sequences or paths are defined, their duration is calculated using the critical path algorithm to identify the critical path. Scheduling & Risk Project Plan Project Budget WBS
- 24. Precedence Diagramming Method(PDM) Precedence Diagram Method (PDM) is a visual representation technique that depicts the activities involved in a project. It is a method of constructing a project schedule network diagram that uses boxes/nodes to represent activities and connects them with arrows that show the dependencies. It’s also sometimes called the activity-on-node (AON) method. Scheduling & Risk Project Plan Project Budget WBS
- 25. Scheduling & Risk Inproject management, the Project Evaluation Review Technique, or PERT, is used to identify the time it takes to finish a particular task or activity. A project management planning tool used to calculate the amount of time it will take to realistically finish a project. PERT charts are used to plan tasks within a project — making it easier to schedule deliverables and coordinate with team members. Project Evaluation and Review Techniques (PERT) Project Plan Project Budget WBS
- 26. It was developedby US Navy Projects in 1967. Project Evaluation and Review Techniques (PERT) Scheduling & Risk Project Plan Project Budget WBS
- 27. PERT METHOD DIFFERENCE BETWEEN PERTMETHOD AND CRITICAL PATH METHOD CRITICAL PATH METHOD In the PERT method, activities are represented as lines and the nodes represent the branching structure In the critical path method, activities are represented as nodes. In the critical path method, there is only one estimate There are three estimates in PERT method such as optimistic, pessimistic, and most likely. In the critical path method, four activity relationships. finish to start, start to start, finish to finish, start to finish can be used. There is only one type of relationship which is finish to start used in PERT method. Scheduling & Risk Project Plan Project Budget WBS
- 28. HOW TO ESTIMATEACTIVITY DURATIONS IN PERT METHOD? THERE ARE THREE ESTIMATION TECHNIQUES MOST LIKELY (TM) OPTIMISTIC (TO) PESSIMISTIC (TP) Scheduling & Risk Project Plan Project Budget WBS
- 29. PERT FORMULA PERT ESTIMATE= [TO + (4*TM) + TP] / 6 You are expecting to complete a task in 15 days. It may take 25 days in the worst case. If everything is good, it may take 10 days to be completed. Most Likely Estimate (TM): 15 Days Optimistic Estimate (TO): 10 Days Pessimistic Estimate (TP): 25 Days PERT ESTIMATE = [TO + (4*TM) + TP] / 6 [10 + (4*15) + 25] / 6 = 16 days Scheduling & Risk Project Plan Project Budget WBS
- 30. GERT (Graphical Evaluationand Review Technique) modelling is a project management and network analysis technique that allows for the probabilistic treatment of both the activity duration and the project structure. Unlike the traditional CPM/PERT method, which assumes a single, deterministic path through a project, GERT is capable of modelling complex, stochastic networks that include loops, conditional branches, and probabilistic events. Graphical Evaluation and Review Techniques (GERT) Scheduling & Risk Project Plan Project Budget WBS
- 31. Key features ofGERT include: Graphical Evaluation and Review Techniques (GERT) Probabilistic Approach: GERT allows for activities to have probabilistic outcomes. For example, a task might have different possible results, each with its own probability of occurring. Conditional Branching: GERT can model scenarios where the path forward depends on the outcome of a previous task. This is useful in projects where decisions are made based on the success or failure of earlier tasks. Loops and Iterations: GERT can handle loops, meaning it can model activities that may need to be repeated multiple times based on certain conditions, something CPM does not easily account for. Complex Networks: GERT is suitable for projects with highly complex workflows, where tasks are not simply linear or sequential. Scheduling & Risk Project Plan Project Budget WBS
- 32. EXAMPLE OF GERT Let'sconsider an example where GERT could be useful. Imagine a project developing a new product. After the design phase, there could be a testing phase with a chance of failure. If the test fails, the project goes back to redesign. If it succeeds, we move on to production. GERT can model this loop and the conditional decisions, offering a realistic view of what might happen. Scheduling & Risk Project Plan Project Budget WBS
- 33. Queue-Graphical Evaluation andReview Technique (Q-GERT) is a variation of the standard Graphical Evaluation and Review Technique (GERT) that specifically incorporates queuing theory to analyze systems where waiting lines or delays are present, allowing for a more accurate representation of complex processes with potential bottlenecks or queuing situations within a project or system. Queue-Graphical Evaluation and Review Techniques (Q-GERT) Scheduling & Risk Project Plan Project Budget WBS
- 34. Key features ofQ-GERT include: Queue-Graphical Evaluation and Review Techniques (GERT) Queuing Considerations: Unlike regular GERT, Q-GERT considers the delays and waiting times that can happen when activities are queued up before progressing. This is critical in projects that encounter bottlenecks or variability in task durations. Complex System Modeling: Q-GERT goes beyond simple task flows. It can model systems with multiple queues, different patterns for arrivals, and varying service times. This adds realism to project planning, especially in systems with high complexity. Scheduling & Risk Project Plan Project Budget WBS
- 35. Queue-Graphical Evaluation and ReviewTechniques (GERT) Q-GERT (Queue Graphical Evaluation and Review Technique) is a project management tool that extends GERT by incorporating queuing theory. It accounts for waiting times and bottlenecks, allowing for the analysis of complex systems with multiple queues and varying activity durations. Q-GERT is particularly useful in projects where managing delays is critical, such as manufacturing processes, service systems, and IT projects. It operates by constructing a project network with queuing parameters such as arrival rate and service time, and uses simulation to analyze the impact of delays on project timelines and performance. Scheduling & Risk Project Plan Project Budget WBS
- 36. Scheduling & Risk SimulationLanguage for Alternative Modeling SLAM (Simulation Language for Alternative Modeling is a flexible and powerful simulation tool that allows users to analyze, design, and optimize complex systems. Project Plan Project Budget WBS
- 37. What is SLAM? Combinesprocess, event, and continuous modeling. Developed for flexible system simulations. Scheduling & Risk Project Plan Project Budget WBS Simulation Language for Alternative Modeling
- 38. Scheduling & Risk KEYFEATURES OF SLAM PROCESS-ORIENTED & EVENT-BASED MODELING CONTINUOUS VARIABLE SUPPORT USED IN INDUSTRY FOR SYSTEM ANALYSIS Project Plan Project Budget WBS
- 39. Scheduling & Risk HOWSLAM WORKS – NETWORK MODELING Project Plan Project Budget WBS Simulations start with a network diagram. Entities flow through nodes. Nodes represent : Entry & Exit Points Resource Seizing & Freeing Decision-Making Gates
- 40. Scheduling & Risk SLAMMODELING TECHNIQUES Project Plan Project Budget WBS NETWORK MODELING DISCRETE EVENT SIMULATION CONTINUOUS SIMULATION Visual representation of processes. Events occur at specific times. Models dynamic changes over time.
- 41. Scheduling & Risk EXAMPLE:SINGLE-SERVER QUEUING MODEL Project Plan Project Budget WBS CREATE Generates arrivals. QUEUE Waits for service ACTIVITY Processes entities. COLCT Collects statistics
- 42. Scheduling & Risk BENEFITSOF SLAM Project Plan Project Budget WBS HIGHLY FLEXIBLE MODELING APPROACHES. SUPPORTS PROCESS, EVENT, AND CONTINUOUS SIMULATION. ADVANCED DEBUGGING & GRAPHICAL TOOLS. USED IN VARIOUS INDUSTRIES FOR PERFORMANCE ANALYSIS.
- 43. Scheduling & Risk DynamicPlanning and Control Methodology A simulation-based project planning and control framework. Focuses on errors, changes, and their impact on projects. Project Plan Project Budget WBS
- 44. Scheduling & Risk WHYIS IT IMPORTANT? Addresses uncertainties and complexities in large-scale projects. Enhances traditional project management techniques. Project Plan Project Budget WBS Dynamic Planning and Control Methodology
- 45. Scheduling & Risk Holisticapproach to analyzing errors and changes. Project Plan Project Budget WBS KEY FEATURES OF DPM Identifies hidden issues that may arise later. Provides strategic insights through novel metrics: Reliability Stability Latency Sensitivity
- 46. Scheduling & Risk EnhancesCPM/PERT methodologies. Integrates system dynamics for deeper analysis. Simulates project performance under different conditions. Helps in proactive decision-making to reduce cost overruns and delays. Project Plan Project Budget WBS INNOVATION OF DPM
- 47. Scheduling & Risk HOWDPM WORKS Simulates the impact of errors and changes on a project. Evaluates control policies like: Overtime work Overmanning Proactive schedule buffering Provides a real-time feedback loop for better decision-making. Project Plan Project Budget WBS Dynamic Planning and Control Methodology
- 48. Scheduling & Risk CASESTUDIES Highway Bridge Infrastructure Project (Massachusetts) Laboratory Building Project (Malaysia) Showed effective management of uncertainty in real-world scenarios. Project Plan Project Budget WBS Dynamic Planning and Control Methodology
- 49. Scheduling & Risk ExpandingDPM capabilities through real- time simulation & visualization. Potential use in vision-based progress tracking. Integration with AI and IoT for dynamic decision-making. Project Plan Project Budget WBS FUTURE APPLICATIONS
- 50. Scheduling & Risk DPMrevolutionizes project planning by integrating simulation and real-time analysis. Helps in better control and risk management in complex projects. The future of construction management lies in advanced simulation and data-driven decision-making. Project Plan Project Budget WBS DYNAMIC PLANNING AND CONTROL METHODOLOGY
- 51. Scheduling & Risk WHATIS CRITICAL CHAIN PLANNING Project Plan Project Budget WBS CRITICAL CHAIN PROJECT MANAGEMENT (CCPM) IS A METHOD OF PLANNING AND MANAGING PROJECTS THAT EMPHASIZES THE RESOURCES (PEOPLE, EQUIPMENT, PHYSICAL SPACE) REQUIRED TO EXECUTE PROJECT TASKS. IT WAS DEVELOPED BY ELIYAHU M. GOLDRATT. IT DIFFERS FROM MORE TRADITIONAL METHODS THAT DERIVE FROM CRITICAL PATH AND PERT ALGORITHMS, WHICH EMPHASIZE TASK ORDER AND RIGID SCHEDULING. A CRITICAL CHAIN PROJECT NETWORK STRIVES TO KEEP RESOURCES LEVELLED, AND REQUIRES THAT THEY BE FLEXIBLE IN START TIMES.
- 52. Scheduling & Risk KEYPRINCIPLES OF CRITICAL CHAIN PLANNING Project Plan Project Budget WBS FOCUS ON RESOURCE CONSTRAINTS UNLIKE CPM, WHICH ONLY CONSIDERS TASK DEPENDENCIES, CCP ALSO CONSIDERS RESOURCE AVAILABILITY. THE CRITICAL CHAIN IS THE LONGEST SEQUENCE OF DEPENDENT TASKS, FACTORING IN BOTH TASK DEPENDENCIES AND RESOURCE CONSTRAINTS. REMOVAL OF PADDED ESTIMATES IN THE TRADITIONAL WAY OF PLANNING, EXTRA OR "SAFETY PADDING" IS OFTEN ADDED TO THE ESTIMATES OF EACH TASK TO PROVIDE A BUFFER AGAINST UNEXPECTED EVENTS. IN CRITICAL CHAIN PLANNING, EXCESS PADDING IS REMOVED AND PLACED INTO BUFFERS.
- 53. Scheduling & Risk USETHE BUFFERS Project Plan Project Budget WBS PROJECT BUFFER: FEEDING BUFFERS: RESOURCE BUFFERS:
- 54. Scheduling & Risk BENEFITSOF CRITICAL CHAIN PLANNING Project Plan Project Budget WBS Faster Project Completion By removing unnecessary safety padding and properly using buffers, this accelerates the project process. More Reliable Due Dates Because the CCP focuses on proper buffer management, the likelihood of projects being completed on time has increased. Better Resource Utilization at CCP ensures that resources do not overlap and are used only when necessary, making their use more effective and efficient. Less Delays Proper buffer management and focusing on human behaviors help reduce unexpected project delays.
- 55. Scheduling & Risk HOWCRITICAL CHAIN PLANNING WORKS: Project Plan Project Budget WBS
- 56. Scheduling & Risk WHATIS RESOURSE LOADING Project Plan Project Budget WBS Resource loading is the full amount of assigned hours you have tasked your team with divided by the number of hours you have to do the work. You can view resource loading on a daily, weekly, monthly or project basis.
- 57. Scheduling & Risk KEYRESOURCES IN CONSTRUCTION LOADING: Project Plan Project Budget WBS Labor – The workforce required for different construction tasks (engineers, architects, laborers, supervisors). Materials – Concrete, steel, wood, bricks, cement, and other building supplies. Equipment – Cranes, excavators, trucks, power tools, and scaffolding. Time – Scheduling of tasks and phases to ensure efficient project completion. Money (Budget) – The financial resources needed to cover labor, materials, equipment, and contingencies.
- 58. Scheduling & Risk TYPESOF RESOURCE LOADING: Project Plan Project Budget WBS Uniform Resource Loading: 1. Resources are evenly distributed throughout the project to maintain a steady workflow. Example: Assigning workers consistently over several months instead of overloading them at certain stages.
- 59. Scheduling & Risk TYPESOF RESOURCE LOADING: Project Plan Project Budget WBS 2. Peak Resource Loading: A high concentration of resources is used during specific project phases. Example: Pouring concrete for an entire building foundation in a short time frame, requiring more workers and equipment.
- 60. Scheduling & Risk TYPESOF RESOURCE LOADING: Project Plan Project Budget WBS 3. Leveling or Smoothing: Adjusting resource allocation to avoid overuse and ensure efficiency. Example: Shifting work schedules to prevent worker fatigue and avoid unnecessary equipment rental costs.
- 61. Scheduling & Risk HOWRESOURCE LOADING IS MANAGED IN CONSTRUCTION PROJECTS: Project Plan Project Budget WBS Project Scheduling Tools: Gantt Charts – Visual representation of tasks and their timelines. Critical Path Method (CPM) – Identifies the longest sequence of dependent tasks. Primavera P6 & Microsoft Project – Software for tracking resources and schedules.
- 62. Scheduling & Risk HOWRESOURCE LOADING IS MANAGED IN CONSTRUCTION PROJECTS: Project Plan Project Budget WBS Monitoring and Adjustments: Regularly tracking resource usage and making adjustments as needed. Example: If a project is delayed due to bad weather, material deliveries might need rescheduling.
- 63. Scheduling & Risk HOWRESOURCE LOADING IS MANAGED IN CONSTRUCTION PROJECTS: Project Plan Project Budget WBS Cost Control and Efficiency: Ensuring that resources are used optimally to prevent waste and cost overruns.
- 64. Scheduling & Risk EXAMPLEOF RESOURCE LOADING IN CONSTRUCTION: Project Plan Project Budget WBS Phase 1: Site Preparation – Heavy machinery is scheduled for excavation. Phase 2: Foundation Work – Cement, steel, and concrete mixers are allocated. Phase 3: Structural Framing – Cranes and steelworkers are assigned. Phase 4: Interior Work – Plumbers, electricians, and painters are scheduled in a staggered manner.
- 65. Scheduling & Risk WHYRESOURCE LOADING IS IMPORTANT IN CONSTRUCTION: Project Plan Project Budget WBS ✅Prevents delays – Ensures materials and labor are available when needed. ✅Controls costs – Avoids overspending on unused resources. ✅Increases efficiency – Reduces downtime and maximizes productivity. ✅Enhances project planning – Helps avoid bottlenecks and resource conflicts.
- 66.