Lessons for Managing Technology Projects

Critical path analysis identifies the most efficient and cost effective way of completing a complex project. The various activities which together will make up the project are identified, and the order of these activities are identified. Then, the duration of each activity is estimated and these factors are then arranged as a network or graph, showing the whole project from start to finish, and showing which tasks can happen at the same time. The sequence of tasks which have to be done one after another with no gaps in between is called the Critical Path.

The paper is divided into three sections, the first of which will establish a timeline of events. This project background will serve as a case study for the analysis in the following section that will be structured such that each of the previously mentioned facets will be independently analyzed and contrasted with project management principles. Finally the paper will conclude with a summary of the analysis and recommendations based on

Cost and Value management is becoming a large part of companies competing in today’s market. According to the text, “projects and their effective management can provide organizations with a significant competitive edge through cost reduction, enhanced responsiveness, and overall value to customers.” (Venkataraman & Pinto, 2008, p. 1). In this paper we are going to focus on some of the techniques and how they can either help or hinder a project. Through information and examples we will explore the importance of work packages and the work breakdown structure (WBS), establishing a cost and schedule performance

Table of Contents Section I. II. III. Executive Summary Introduction Project Organization Organization Chart Project Responsibilities Staffing Plans IV. Management Process Management Objectives Priorities Monitoring/Controlling Mechanisms V. Technical Process Plan Computing System Project Plan Modification Process Computer Usage Policies Construction Guideline Support Project Acceptance Process Lessons Learned Documentation VI. Work Packages, Dependencies, Schedules & Budgets Work Packages Dependencies

In almost every business, project management is critically important. The critical path method (CPM) will provide a timeline for the project manager for when tasks should be completed. In addition, providing a deadline and the negative effects it will have on the following successors if not completed on time. These many task are interdepended. Therefore, the CPM provides the start and finishes times of the tasks, and identifies the few tasks on the critical path that the project manager should observe to determine which task needs the most attention. Already discovering and incorporating the details the task or assignments may require, CPM calculates all task times, which can be measured in hours, days, weeks, and months. For any unintended manually input errors, a warning message will be provided. Including an automatic successor generator, task numbering comment, and data validation, makes it easier on the project manager.

There is an old adage which insists “time is money.” While simple, in concept, it has been proven true, in fact. In a global, technologically driven society, however, the very idea of time has changed. Having once implied a spanning space between the hours of “nine to five” relative to the person or organization from whose vantage money was viewed, time is now irrespective of person, organization, or location; it is, literally, “24/7.” With this shift in perception, organizations, especially, have taken on the greater challenge of ensuring efficiency in their operations, allowing their customers the

Work Breakdown Structure (WBS) is a tool that is used to define the work elements of a project and identify its entire scope. It is the map of the project which identifies all elements of the project and allows managers to keep track and control of it. It is made of a hierarchy which facilitates the evaluation of cost, time and performance at all levels of the project life-cycle and organization. The structure illustrates the smaller units and allows for adaptation and quick communication if there a problems which need to be addressed. Definitions of each task should be clear and avoid overlapping in

Effectively managing complex information technology projects is predominantly an exercise in precision and planning, but the best project managers know that adaptability is often the best way to mitigate the risk factors posed by dynamic environments. Adhering to a company's most recently issued mission statement is often the primary priority of top managers and executives, and with the fluid nature of modern organizational structures, outdated or obsolete projects reflecting prior mission statements may still be on the company's proverbial books. In this instance, competent managers are expected to identify projects which do not reflect the company's current mission statement, either adapting them to ensure compliance across all project parameters, or terminating the project's progress in an effective and efficient fashion. A recent article published by the prestigious International Journal of Project Manager focused its analysis on the role that dynamic environments, which are typified by a continual process of minor system changes and the fluid interplay of resources, in order to determine the optimal strategy for project managers.

In field of project management, there are a plethora of mechanisms under perpetual reevaluation. One specific segmentation of project management under such scrutiny pertains to cost duration, which is the time and monetary costs of completing individual tasks within the project’s critical path (IBM Knowledge Center, 2016). The process of monitoring and evaluating the time and financial impacts of each task is referred to as cost duration analysis (IBM Knowledge Center, 2016). A chief concern of cost duration analysis is identifying tasks within the project’s critical path which can reduce project duration (PMI, 2013). A common approach to reducing a project’s duration is task “crashing” (PMI, p.181). According to The Project Management Institute (2013) crashing refers to the process of methodical determining the financial value of increasing a critical path task’s resources in order to decrease project duration (p.181).

Construction projects are always unique and risks raise from a number of the different sources. Construction projects are inherently complex and dynamic, and involving multiple feedback processes. A lot of participants – individuals and organizations are actively involved in the construction project, and they interests may be positively or negatively affected as a result of the project execution or project completion. Different participants with different experience and skills usually have different expectations and interests. This naturally creates problems and confusion for even the most experienced project managers and contractors.

While projects can be similar in some instances, no two projects are ever the same. For this reason, management of projects requires the application of tools and techniques to meet the goals of the temporary endeavor. Project managers apply these tools and techniques to determine what is required for project delivery such as the list of activities to completed, the time required to complete the activities, resources needed and the various risks associated with the deliverable and efforts. A multitude of tools and techniques are employed by the project manager based on the need of the effort to organize, identify and communicate the various aspects of the project. While in contrast, the repetitive nature of operations activities

It is clear to see that throughout the project the tasks and progress were monitored very closely. The project is heavily dependent on the resources provided by its shareholders and in turn they rely on regular updates to reassure them on their investment. In the construction and building industry the methods and application of project management tools are very reliable and well tested. Therefore, it could benefit the project if the it was managed with detailed and defined practises and also follow standards set and agreed upon on a international level.

A work breakdown structure (WBS) will develop for this project and the WBS is based on the project charter, scope statement, and other relevant information. Gantt chart and network diagram also will be well prepared for this project. While preceding the planning stage, the resource usage cash flow report will showing the hours each person is assigned to work on each task each week. Furthermore, the probability/ impact matrix and list of prioritized risks for the project will be included in the project

The complexity of a modern construction project, especially in a fast track environment, necessities the use of Building Information Management (BIM) system to manage such a project to provide the necessary probable cost outcomes of alternative designs ahead of the actual construction times. The visualization of such alternative designs through ‘prototyping’ design solutions has the definite advantage of identifying

The following is a comparison of decision making processes of procuring a software compared to the internal development of a software as an effective, lean and transparent solution to meet the needs of material management in the modern construction industry. A short synopsis, a construction business group was founded in 2008 to meet the need for material management logistics data use and data management for power line construction projects in the US. It important to note the residual presence “ground-up” posture throughout both approaches. The actual name of the owning company, business group and current software used is withheld due to ongoing civil proceedings regarding the use of the software.