Project Management
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| Quality Management | Risk Management |
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Project life cycle timeline
3 LEVELS OF PROJECT RISK
- HIGH – Has a high probability of failure and causing major consequences on the company if the project were to fail. Monitor these constantly.
- MEDIUM – A project failure could have some impact on the company or where the consequences of failure are high but the likelihood is medium or low. Monitor monthly, quarterly, etc., but conduct random visits/reviews.
- LOW – probability of failure is low and there would be slight or no impact on company operations. Monitor quarterly, semi-annually or annually. Evaluate periodically.
LEVELS OF CONTROL AND TYPES OF DELIVERABLES TO
EXPECT DURING THE VARIOUS PHASES OF A PROJECT
Level of control by life cycle curve:
| ⇒ PHASE | Concept | Planning | Execution | Close-out |
| Curve ∇ | ||||
| Risk/Innovation | High | Lower | Much lower | Impossible |
| Planning horizon | Somewhat high | Much higher | Much lower | Impossible |
| Ability to change | Easy | More difficult | Very difficult | Impossible |
| Use of resources | Few | More | Considerable | Mostly consumed |
| Overall control | Very easy | Still easy | Very difficult | Impossible |
| Cost control | Very easy | Still easy | Very difficult | Impossible |
Level of control by project participant:
| ⇒ PHASE | Concept | Planning | Execution | Close-out |
| Participant ∇ | ||||
| Client control | High | High | None | None |
| Designer control | High | High | Partial | Little |
| Contractor control | None | Considerable | Considerable | High |
Type of deliverable to expect:
⇒ PHASE
| Concept | Planning | Execution | Close-out | |
| XXXXXXXXXXXX | Feasibility study | Select the PM | Integration plan | Documentation |
| XXXXXXXXXXXX | Scope statement | Prepare estimates | Make trade-offs | Customer receipt |
| XXXXXXXXXXXX | SWOT analysis | Establish goals | Multidisciplinary | Lessons learned |
| XXXXXXXXXXXX | Project charter | State assumptions | Variance analysis | After sale service |
| XXXXXXXXXXXX | Stakeholders ID’d | Select project team | Change orders | Ask for new business |
| XXXXXXXXXXXX | Risk analysis | Develop WBS | Work packages | Return resources |
| XXXXXXXXXXXX | Go/No-go decision | Prepare project plan | Receive/evaluate
status reports |
Reallocate resources |