Lecture3_v2.ppt

UKAI 2063 Accounting Information Systems II Lecture 3 Systems Planning  Lecture 3 Outline Introduction to project management Project Management Body of Knowledge (PMBOK) Successful project management: scope, time, cost and quality Project...

UKAI 2063 Accounting Information Systems II Lecture 3 Systems Planning  Lecture 3 Outline Introduction to project management Project Management Body of Knowledge (PMBOK) Successful project management: scope, time, cost and quality Project life cycle 2-2 Introduction to project management Generally, work can be categorized as either projects or operations. Projects and operations differ primarily in that operations are ongoing and repetitive, while projects are temporary and unique. 2-4 Projects or operations, they share many of the following characteristics: Performed by people. Constrained by limited resources. Planned, executed, and controlled. 2-5 Project – a definition A project is a temporary endeavor undertaken to create a unique product, service, or result (PMI’s PMBOK, 2004). Projects are undertaken at all levels of the organization and they can involve a single person or many thousands. Their duration ranges from a few weeks to several years. Projects can involve one or many organizational units, such as joint ventures and partnerships. In managing a project, we are: Identifying requirements. Establishing clear and achievable objectives. Balancingthe competing demands for quality, scope, time and cost. Adapting the specifications, plans, and approach to the different concerns and expectations of the various stakeholders. 2-7 Some project examples – big or small Designing and constructing a building. Designing and testing a new prototype. Implementing a new computer system. Improving productivity within a target period. Moving house or going on holiday. 2-8 2-9 Project management – a definition Project management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements. Project management is accomplished through the application and integration of the project management processes of initiating, planning, executing, monitoring and controlling, and closing. The project manager is the person responsible for accomplishing the project objectives. 2 - 10 2 - 11 Project management associations Association of Project Management (UK) Project Management Institute (USA) 9a5e-ee4e2a236c11&sessionGUID=d437426c-a73b-6ba4-3620- Source:https://pmi.org.my/?webSyncID=15325b11-4b03-145d- International Association of Project Management 472e13045a6b 2 - 12  Project Management: Job Growth and Talent Gap (2017-2027) Source: https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/job- 2 - 13 2 - 14 2 - 15  Project Management Body of Knowledge (PMBOK) 2 - 17 Project Management Body of Knowledge (PMBOK) The Project Management Institute (PMI) creates the Guide to the Project Management Body of Knowledge (PMBOK) as a framework and starting point for understanding project management. It includes an introduction to project management, brief descriptions of all nine project management knowledge areas. 2 - 18 2 - 19 Successful project management: scope, time, cost and quality 2 - 21  The future of project management: global outlook 2019 Source: https://home.kpmg/au/en/home/insights/2019/11/future-of-project-management-global-outlook-2019.html Key Findings: 19 percent of organisations deliver successful projects, at least most of the time 44 percent of organisations are likely to deliver projects that meet original goal and business intent 30 percent of organisations are likely to deliver projects that are on time 36 percent of organisations are likely to deliver projects that are on budget 46 percent of projects are delivered with stakeholder satisfaction. 2 - 22 r core elements to meet deliverable objectives pe e t ality Project Triangle 2 - 23 Scope Management The processes required to ensure that the project includes all the work required, and only the work required, to complete the project successfully. Project scope management is primarily concerned with defining and controlling what is and is not included in the project. Time Management The processes required to accomplish timely completion of the project. 2 - 24 Cost Management The processes involved in planning, estimating, budgeting, and controlling costs so that the project can be completed within the approved budget. Quality Management The activities of the performing organization that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken. 2 - 25 Project life cycle Why project life cycle exists? Because projects are unique and involve a certain degree of risk, companies performing projects will generally subdivide their projects into several project phases to provide better management control. Collectively these project phases are called the project life cycle. 2 - 27 2 - 28 Project life cycles generally define: What technical work to do in each phase? When the deliverables are to be generated in each phase and how each deliverable is reviewed, verified, and validated? Who is involved in each phase? How to control and approve each phase? 2 - 29 Common characteristics - project life cycles Phases are generally sequential and are usually defined by some form of technical information transfer or technical component handoff. Cost and staffing levels are low at the start, peak during the intermediate phases, and drop rapidly as the project draws to a conclusion. 2 - 30 2 - 31 The level of uncertainty is highest and, hence, risk of failing to achieve the objectives is greatest at the start of the project. The certainty of completion generally gets progressively better as the project continues. The ability of the stakeholders to influence the final characteristics of the project’s product and the final cost of the project is highest at the start, and gets progressively lower as the project continues. 2 - 32 2 - 33  Acknowledgements This PowerPoint presentation contains materials complied from various sources. Credits are hereby given to their respective owners. Please refer to the reading list for details. Reminder The lecture slides serve only as a quick learning guide. Students are required to refer to the main textbook for detailed elaboration. 2 - 34