...business Administration | 1 Background to the project, Kurdistan Region of Iraq witnessed a great development booming starting on 2006 till 2013, this lead to an annual expansion on the electrical power demand of %15 per year. New living complexes were built that needed all type of infrastructure utilities. Kurdistan Regional Government (KRG) through its Ministry of Electricity (MOE) issued several tenders for different projects of Transmission Lines as well as transforming and distribution Substations. CONTRACT No. KRG-MOE/ES-06c/2011, between Kurdistan Regional Government (KRG), Ministry of Electricity (the “MOE”) and Melec S.A.L was one of the project of 2012 year. The contract main scope was for Engineering, Procurement and Construction (EPC) 31.5MVA 33/11kV Substations at Hana City, in the Erbil Governorate. Project objectives: Objective help to define the project in terms of its purpose and perceived benefits.(turner, 1997).The objective of this project is to support the expansion of electrical power grid in Kurdistan region in Erbil by building a complete electrical substation to step down the transmission voltage (33KV) to distribution voltage (11 KV) Then distributing it in multiple direction for various kind of usage such as industrial usage and Private usage . Project objective are the activities involved in achieving the firm’s goals (Field and Keller, 1998) . By taking this project the company was trying expand into a new booming market...
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...Intl Project Management Cost & finance Part 2 : Tools and techniques SupdeCo La Rochelle (H. Khatchadourian) Aligned with the PMBOK® Guide Fourth Edition 1 Investment Concept & project investment Investment : basics The process of compounding and discounting Compound interest and future value (FV) of a single payment (« lump sums ») FVn = PV(1+I)n With N number of period (= years, quarters,months) I interest rate PV present value FV future value at end of year « n » Step-by-step approach or formula approach Use of spreadsheets (Excel) 1. Int. 2. Scope 3. Time 4. Cost 5. Quality 6. HR 7. Com. 8. Risk 9. Proc. Investment: basics Present value (PV) PV = FVn / (1+I)n Step-by-step approach and formula approach Finding the interest rate « i » ? Finding the number of years « n » ? 1. Int. 2. Scope 3. Time 4. Cost 5. Quality 6. HR 7. Com. 8. Risk 9. Proc. Investment: basics Annuities (ordinary) A series of payments over time At the end of each period Periods 0 5% 1 2 3 Payments -100€ -100€ -100€ 1. Int. 2. Scope 3. Time 4. Cost 5. Quality 6. HR 7. Com. 8. Risk 9. Proc. Annuities (due) At the beginning of each period Investment: basics Future value of an ordinary annuity With ⎡ (1 + I )n − 1⎤ FVAn = PMT ⎢ ⎥ I ⎣ ⎦ Interest rate I Series of payment (= constant payment) 1. Int. 2. Scope 3. Time 4. Cost 5. Quality 6. HR 7. Com. 8. Risk 9. Proc. Investment: basics Future value of an ordinary annuity Periods 0 r=5%...
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...This report analyses the current project management methodologies and the lean system and also explains the importance of the lean delivery system with the advantages and disadvantages comparing to the current methods used in the project management practice. Projects are completed by project management methodologies and lean management system. Generally Project management methodologies are the various ways in which projects are initiated, planned, and executed unto completion. For different type of industrial projects and for different types of projects, there are certain specific management methodologies that are currently in use such as the traditional methods or the critical chain method that are to be used. The Lean Project Delivery System has emerged from the theoretical and practical Investigations, the process of on-going development, reducing the forms of waste in the process to get the desired product with high customer satisfaction. Introduction Project: A project is a unique endeavour to produce the desired product within the specified time given, set of constraints-cost and quality. Project management: Project Management: Project management can be defined as the process which is disciplined to involves the skills, tools management and the required management techniques to complete a project successfully There are some current management methods for project management; one of the main methods is traditional project management method which sorely based on step...
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...Project Management 1. Introduction As a discipline and professional subject, project management has gained unprecedented prevalence throughout the world as a consequence of its role in assisting the organization to efficiently utilize limited resources, resolving sophisticated technology and enhancing its survive in the increasingly competitive market. Specifically, implementing project management techniques assists the organization in curtailing the overheads costs, satisfying project deadlines and customizing the project workplace and so forth. Some 4500 years ago, projects had been undertaken with the pyramids construction by the ancient Egyptians, but it is universally accepted that the period of 1950s is an indication of the arrival of modern management era and the commencement of utilizing formal project management tools and techniques (Awan, 2010). Economic pressures of the industrialized world, competition between rival companies and greater regard for the value, well-being and hence the employment costs of working people have all contributed to the development of new project management ideas and techniques. The purpose of this essay is to identify the major developments in the domain of project management over the past five decades and to explain how these historical developments influence the understanding of modern project management. 2. Crucial Developments in the Field of PM and Repercussions on Understanding Modern Project Management Prior to 1950s...
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...Includes Over Two Hours of Bonus Audio on the CD Includes Real-World Scenarios and Leading-Edge Exam Prep Software Featuring: Updated for the Project Management Body of Knowledge (PMBOK® Guide), Fourth Edition • Custom Test Engine • Hundreds of Sample Questions • Chapter Review in Audio Format • Electronic Flashcards • Entire Book in PDF PMP Fifth Edition SERIOUS SKILLS. ® Project Management Professional Exam STUDY GUIDE Kim Heldman Project Management Professional Exam Study Guide Fifth Edition PMP ® Project Management Professional Exam Study Guide Fifth Edition PMP ® Kim Heldman Acquisitions Editor: Jeff Kellum Development Editor: Alexa Murphy Technical Editors: Terri Wagner and Brett Feddersen Production Editor: Christine O’Connor Copy Editor: Judy Flynn Production Manager: Tim Tate Vice President and Executive Group Publisher: Richard Swadley Vice President and Publisher: Neil Edde Project Manager 1: Laura Moss-Hollister Associate Producer: Angie Denny Quality Assurance: Josh Frank Book Designers: Judy Fung, Bill Gibson Compositor: Craig Woods, Happenstance Type-O-Rama Proofreader: Publication Services, Inc. Indexer: Nancy Guenther Project Coordinator, Cover: Lynsey Stanford Cover Designer: Ryan Sneed Copyright © 2009 by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada ISBN: 978-0-470-45558-6 No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form...
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...GenRays Matrix Template Project Management Knowledge Areas|Recommended Tool(s)|Justification for Tool| Project Integration Management | Expert Judgment|-PM Plan is Formal, single document, approved (becomes officially the project plan. It defines how project is executed and controlled. Scope, schedule, and Cost, Change, and Configuration Management plans are created in this process and are part of the PM plan- Scope Management plan is developed here as well.| Project Scope Management | -Interviews -Focus Groups -Facilitated Workshops -Group Creativity Technique -Group decision making techniques -Questionnaires and Surveys -Observation(Job Shadowing) -Prototypes| Facilitated Workshops examples: JAD and Quality Function Deployment Group Creativity Technique examples: -Brainstorming -Nominal Group Technique: enhances brainstorming with voting process -Delphi Technique-Idea and Mind Mapping -Affinity Diagram: large numbers of ideas to be sorted into groups Group Decision making technique -Unanimity: everyone agrees on single course of action -Majority: support from more than 50% of the members of the group -Plurality: the largest block in a group decides even if a majority is not achieved -Dictatorship: one individual makes the decision for the group| Project Time Management| -Bottom- up Estimating -Expert Judgment -Alternative Analysis -Published Est. Data -PM Software| Bottom-up estimating: Breaking down complex activities into pieces. -Published Est. Data: Published data as...
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...Quality Management includes the process in which determines the quality policies, objectives, and responsibilities performed so that the project will satisfy the needs for which it was undertaken. Implementation of the policies and procedures within the project’s context will ensure that the project and product requirements are met and validated (PMI, pg 227). It is also the ability to plan and control quality and performs quality assurance. If you include these processes in your Project Quality Management process, your will improve the quality of your current and future projects. The first process of Project Quality Management understands the scope and deliverables of the project. In order to give high quality to your customer or stakeholders, you must know their expectation of the service or product. The basic approach of quality management is compatible with ISO International Organization for Standardization quality standards. Every project should deliver quality to which a set of inherent characteristics fulfill requirements with a grade as a design intent assigned to deliverables having the same functional use but different technical characteristics. The project team will need to apply appropriate levels of accuracy and precision for use in the quality management plan. Applying ISO compatibility to quality management, you will need to take the approaches below: • Customer satisfaction –Customers expectations are met (PMI, pg 229). • Prevention over inspection...
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...Overview Project Management for IT professionals includes planning, scheduling, monitoring, and controlling, and reporting on information system development. History Wendy Lee, manager of college services at Mountain View Colleges wants a new information system that will improve efficiency and costume service at the three college bookstores. Description of the Process Project planning, Gantt Charts, PERT/CPM Charts, Microsoft Project and Open Workbench software, project monitoring, and risk management techniques. Important terms and Concepts What Does Project Manager Do? Whether a project involves a new office building or an information system, good leadership is essential. In systems project, the project manager, or project leader, usually is a senior systems analyst or an IT department manager if the project is large. What is a Gantt chart? A Gantt chart was design that could show planned and actual progress on a project. A Gantt Chart is horizontal bar chart that represents a set of tasks. What is a PERT/CPM Chart? The Program Evaluation Review Technique (PERT) is a bottom-up technique, because it analyzes a large, complex project as a series of individual tasks. At approximately the same time, the CPM (Critical Path Method) meet similar project management needs. The distinction between the two methods has disappeared over time, and today the technique is called either PERT, CPM, or PERT/CPM. Maintaining a Schedule A project schedule can be challenging, and...
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...Course: Date: Rapid Project Development Introduction Rapid project development is a software development methodology which uses less planning to favor prototyping; this planning is reached in writing the software itself which will allow it to be faster and easy for requirements changes because of lack of pre-planning in the software. The powerful case software should be available for the developers to come with the system faster because it will enable developers to come up with the best system irrespective of programming language and the cording system. The product should be produced within less time so that it can be tested by the users i.e. the prototype should be designed fully and produced within short time for the users to use it first if it can help their organization to the maximum level or not. If not they have to return the system to the developers to start working on it again. This system started around 1970 and it’s still used today because of its special lifecycle where we had planning, analysis, design, building testing and deploying to the users. The rapid project development should be compressed and also another lifecycle should be followed before providing it for the users to start using it in their organization or business premises firstly the developers should give what they require to the organization or the customer who needs to make the project for them to make the budget after which the developers should design the project for implementation. Then...
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...PMI® Case Study QUARTIER INTERNATIONAL DE MONTRÉAL: 2005 PMI Project of the Year The Quartier International de Montréal (QIM) project was an enormous urban revitalization project that comprehensively revamped a large portion in the center of Montréal city in Canada from bottom up. The QIM team used standard project management techniques to coordinate the project’s many complex activities, plan for risks, and accommodated last-minute changes to the project plan by the City of Montreal. As a result, the QIM project was completed within budget and schedule, and was lauded with international accolades. Background Montreal is an industry hub in North America that frequently plays host to the business, tourist and international communities. It features a large business district and the Old Montreal town center, and between these two sectors ran an expressway that was not only unattractive, but impeded the potentially lucrative flow of pedestrian traffic. The QIM project’s goal was to revitalize these two areas. The QIM aim was to accomplish two things: 1. Restore communication between two city sectors vital to tourism and economic development; 2. Revive an entire sector, making it a reputable international district exhibiting Montreal’s new dynamism and ingenuity The two-phase QIM project involved major urban changes. The team had to: • Cover an expressway • Overhaul a sewer and aqueduct system • Increase sidewalk surface area by 40 percent • Restore...
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... Conducting and Closing Procurements Introduction For any project to be implemented, goods and services must be availed to be utilized. This is achieved through procurement whereby interested external suppliers are contracted to provide the goods and services needed. The procurement process ought to be planned in order to establish a formal and working relationship with the external suppliers. At the end of a project the procurement has to be closed and the formal relationship with the external supplier for that project then ends. Project procurement has a number of processes including planning and research, conducting the procurement, administration of the procurement and closing the procurement. Each of these components has a role in the success of the procurement process. (Sanghera, 2014) High-level process steps for conducting project procurements The process of conducting project procurements incudes an exercise whereby responses are obtained from sellers, selection of a seller who the project finds suitable and awarding the contract to this seller. This process involves utilization of various inputs, tools and techniques to obtain desirable output. The process of conducting project procurement is multistep and the process includes five major steps as follows: Specification is the first step whereby a decision is made on which products required for the project will be bought from the seller. An approved list of items to be bought is then given...
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...Pm3 essay | Project Procurement Management in Information Systems Projects | Mogamat Shaheed Adams (207191948) | | INFORMATION SYSTEMS III (MODULE A) | 21 September 2010 LECTURER: Mr S Dunn | Project Procurement Management in Information Systems Projects ABSTRACT It is becoming increasingly important for information technology professionals to understand project procurement management. Procurement management has become a tool that can save organizations huge amounts of cost. Therefore the emphasis on expert knowledge surrounding the procedures and stages through project procurement management are becoming so necessarily. There are numerous tools and techniques available to project procurement teams to get favourable results and outputs. These outputs become important tools to organizations to use in the future on similar projects. INTRODUCTION Acquiring products or services under contract using outside buyers or sellers has become a very important aspect to many organizations. The reasons is that it reduce both fixed and recurrent costs, allowing client organizations to focus on its core business, organizations can gain access to specific skills and technologies, providing flexibility where extra staff can be provided during periods of peak workload, and increasing accountability because contracts are legally binding. To be successful in project procurement management there are four main processes for organizations to follow. They are planning...
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...preparepm.com Tutorial - Project Scope Management This chapter covers key concepts related to Project Scope Management. 1. The knowledge area of Project Scope Management consists of the following processes - Scope Management Processes Process Project Group Key Deliverables Collect Requirements planning Requirements document Define Scope planning project scope statement Create WBS planning WBS, WBS dictionary Verify Scope Monitoring and Controlling Acceptance deliverables Control Scope Monitoring and Controlling Change Requests 2. The knowledge area of Scope Management includes the processes required to ensure that the project includes all the work, and only all the work required to complete the project successfully. It is primarily concerned with controlling what is and what is not in the scope. 3. Project Portfolio Management is the process of project selection. It involves making a decision about which project an organization should execute. 4. There are two types of project selection methods. These are o Benefits Measurement o Constrained Optimization 5. Benefits Measurement project selection methods involve comparing the values of one project against another. There are the following type of Benefit Measurement project selection techniques - o Murder Boards - This involves a committee asking tough questions from each project o Scoring Models - Different projects are given scores based...
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...that establishing project planning is a necessary key requirement of managing project schedule risk (2009, p.334). Regardless of how thoroughly a project manager works to ensure that a project’s schedule is accurate, he or she cannot fully control the inevitable and random influences that may negatively impact their project schedule. Equipment failures, nature, and sick employees are just a few of the uncontrollable factors that may jointly cause a project manager to miss their project’s target date. In preparation for these risks, a project manager needs discipline to devise an appropriate, risk-controlled project schedule. These Kendrick states that scheduling risks fall into three categories (2009, p.71): * Delays - Usually caused by material delivery and availability issues. * Estimates - Minimize this risk by using better estimation procedures. * Dependencies - When one project depends on other projects or systems, a failure or delay in any area can cause a domino effect. Risk Identification is the process of documenting risks that threaten a project and determining which of those risk have the potential to cause the most impact it. The act approximating the degree of impact a risk may have on a project schedule is referred to as estimating. This paper discuses two tools or techniques of estimating scheduling risks used to predict and reduce risks and the impact on a projects schedule. This paper also demonstrates how these techniques can be applied to the...
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...Answers to Review Questions 1. C, E. A project creates a unique product, service, or result and has defi ned start and fi nish dates. Projects must have resources in order to bring about their results, and they must meet the quality standards outlined in the project plan. Interrelated activities are not projects because they don ’ t meet the criteria for a project. Project management processes are a means to manage projects, and processes used to generate profi ts or increase market share do not fi t the defi nition of a project. Processes are typically ongoing; projects start and stop. 2. B. The Project Management Institute (PMI) is the leading professional project management association, with more than 400,000 members worldwide. 3. D. A program is a group of related projects that can benefi t from coordinated management. Life cycles are the various stages a project goes through, and process groups consist of Initiating, Planning, Executing, Monitoring and Controlling, and Closing. 4. B, C, E. The steps in pre - project setup include the following: identifying the project, validating the project, preparing a project charter, and obtaining approval of the charter. 5. B. Project managers can spend up to 90 percent of their time communicating. The other skills listed here are important as well, but the clue in this question is the 90 percent fi gure that relates to the amount of time project managers may spend communicating. 6. A. A request to develop a product...
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