SPM Unit 1.pdf

Software Project Management MODULE-1: Introduction to Software Project Management, Project Evaluation and Programme Management, An Overview of Project Planning...

Software Project Management MODULE-1: Introduction to Software Project Management, Project Evaluation and Programme Management, An Overview of Project Planning Complied by: Pushpa Mahapatro [email protected] Vidyalankar School of Information Technology Wadala (E), Mumbai www.vsit.edu.in  Certificate This is to certify that the e-book titled “Software project management” comprises all elementary learning tools for a better understating of the relevant concepts. This e-book is comprehensively compiled as per the predefined eight parameters and guidelines. Date:26-07-2021 Mrs. Pushpa Mahapatro Assistant Professor Department of IT DISCLAIMER: The information contained in this e-book is compiled and distributed for educational purposes only. This e-book has been designed to help learners understand relevant concepts with a more dynamic interface. The compiler of this e-book and Vidyalankar Institute of Technology give full and due credit to the authors of the contents, developers and all websites from wherever information has been sourced. We acknowledge our gratitude towards the websites YouTube, Wikipedia, and Google search engine. No commercial benefits are being drawn from this project. Unit 1 Introduction to Software Project Management, Project Evaluation and Programme Management, An Overview of Project Planning Contents: Unit 1 Introduction to Software Project Management: Introduction, Why is Software Project Management Important? What is a Project? Software Projects versus Other Types of Project, Contract Management and Technical Project Management, Activities Covered by Software Project Management, Plans, Methods and Methodologies, Some Ways of Categorizing Software Projects, Project Charter, Stakeholders, Setting Objectives, The Business Case, Project Success and Failure, What is Management? Management Control, Project Management Life Cycle, Traditional versus Modern Project Management Practices. Project Evaluation and Programme Management: Introduction, Business Case, Project Portfolio Management, Evaluation of Individual Projects, Cost benefit Evaluation Techniques, Risk Evaluation, Programme Management, Managing the Allocation of Resources within Programmes, Strategic Programme Management, Creating a Programme, Aids to Programme Management, Some Reservations about Programme Management, Benefits Management. An Overview of Project Planning : Introduction to Step Wise Project Planning, Step 0: Select Project, Step 1: Identify Project Scope and Objectives, Step 2: Identify Project Infrastructure, Step 3: Analyse Project Characteristics, Step 4: Identify Project Products and Activities, Step 5: Estimate Effort for Each Activity, Step 6: Identify Activity Risks, Step 7: Allocate Resources, Step 8: Review/Publicize Plan, Steps 9 and 10: Execute Plan/Lower Levels of Planning Recommended Books: 1. Software Project Management McGRAW 6th Edition, Bob Hughes, Mike Cotterell, Rajib Mall 2. Software Project Management McGRAW 4th Edition, Bob Hughes, Mike Cotterell, Rajib Mall Prerequisites and Linking: UNIT-I Pre-requisites SEM-V SEM-VI Program Evaluation Software Engineering Projects Software and Programme Quality Management Assurance, Projects  UNIT-I Chapter 01 Introduction to Software Project Management Introduction: What is software project management? Is it really different from ‘ordinary’ project management? This is going to be tackled by looking firstly at what is meant by ‘project’. We are then going to examine whether ‘software project management’ is really different from ‘normal’ project management. Is there anything special about software as opposed to other engineered artefacts? A Software Project is the complete procedure of software development from requirement gathering to testing and maintenance, carried out according to the execution methodologies, in a specified period of time to achieve intended software product. Software is said to be an intangible product. Software development is a kind of all new stream in world business and there’s very little experience in building software products. Most software products are tailor made to fit client’s requirements. The most important is that the underlying technology changes and advances so frequently and rapidly that experience of one product may not be applied to the other one. All such business and environmental constraints bring risk in software development hence it is essential to manage software projects efficiently. How do you know when a project has been successful? For example, do the expectations of the customer/client match those of the developers? Why is project management important? Large amounts of money are spent on ICT e.g. UK government in 2003-4 spent £2.3 billions on contracts for ICT and only £1.4 billions on road building Project often fail – Standish Group claim only a third of ICT projects are successful. 82% were late and 43% exceeded their budget. Poor project management a major factor in these failures The methodology used by the Standish Group to arrive at their findings has been criticized, but the general perception of the prevalence of ICT project failure is still clear. Video: What is project management? https://www.youtube.com/watch?v=Jk-JwtScIlw What is a project? Some dictionary definitions: “A specific plan or design” “A planned undertaking” “A large undertaking e.g. a public works scheme” Key points above are planning and size of task Here are some definitions of ‘project’. No doubt there are other ones: for example ‘Unique process, consisting of a set of coordinated and controlled activities with start and finish dates, undertaken to achieve an objective conforming to specific requirements, including constraints of time, cost and resources. An endeavor with specific objectives: – Usually consists of multiple tasks – With defined precedence relationships – With a specific time period for completion Non-Software Examples: – A wedding – An MBA degree – A house construction project – A political election campaign  https://www.youtube.com/watch?v=UcgCvMj50i4 Video on Project. What is a Task? A small piece of work: – Meant to accomplish a straightforward goal – Effort of no longer than a few person-hours – Involves only a few people – May or may not be a part of some project – Usually repetition of a previously accomplished task – Process management may be relevant! Non-software Examples: – Attend a lecture class – Buy a chocolate from the market – Book a railway ticket  Jobs versus projects On the one hand there are repetitive jobs a similar task is carried out repeatedly, for example Kwikfit replacing a tyre on a car or a lecturer giving an introductory talk on project management. The task is well-defined and there is very little uncertainty. In some organizations, software development might tend to be like this – in these environments software process management might be more important than software project management On the other hand some exploratory activities are very uncertain. Some research projects can be like this – we may not be sure what the outcome will be, but we hope that we will learn some things of importance. It may be very difficult to come up with precise plans, although we would probably have some idea of a general approach. Projects seem to come somewhere between these two extremes. There are usually well-defined hoped-for outcomes but there are risks and uncertainties about achieving those outcomes. Characteristics of projects A task is more ‘project-like’ if it is: Non-routine Planned Aiming at a specific target Carried out for a customer Carried out by a temporary work group Involving several specialisms Made up of several different phases Constrained by time and resources Large and/or complex Are software projects really different from other projects? Not really …but... The factors Invisibility Complexity Conformity Flexibility Make software more problematic to build than other engineered artefacts. Contract management versus technical project management Projects can be: In-house: clients and developers are employed by the same organization Out-sourced: clients and developers employed by different organizations ‘Project manager’ could be: – a ‘contract manager’ in the client organization – a technical project manager in the supplier/services organization Activities covered by project management: There are two key points here. 1. Often you see something like ‘feasibility study’ being put as the first stage of development life cycle, and indeed it might be. However, the recommendation of the feasibility study might be not to carry out the proposed project. Planning of the project should therefore take place after the feasibility study (or as a part of the feasibility study perhaps). Clearly the feasibility study itself might need a plan. 2. All plans are to some extent provisional and subject to change. The key point is that the evolving plan allows us to control the project. The software development life-cycle (ISO 12207): This section of the lecture discusses the software development life cycle. Note that this is a technical model. It identifies the technical constraints on the order activities are done. This does NOT imply that a ‘waterfall’ approach is the only way to organize projects. The technical model could be implemented as increments or in an evolutionary manner. Requirements analysis: The key point here is that requirement analysis has to face in (at least) two different directions. It needs to communicate and elicit the requirements of the users, speaking in their language. It needs to organize and translate those requirements into a form that developers can understand and relate to. – Requirements elicitation: what does the client need? – Analysis: converting ‘customer-facing’ requirements into equivalents that developers can understand – Requirements will cover Functions  Quality Resource constraints i.e. costs Architecture design: The software project will almost certainly be part of a larger project which has non-software elements. In a software engineering environment it could be the software will be embedded in hardware product of some kind. Thus there are system requirements for the product as a whole and software requirements for the software element. In a business information systems environment, the software development could be a relatively minor part of a much larger organizational change project. – Based on system requirements – Defines components of system: hardware, software, organizational – Software requirements will come out of this Code and test – Of individual components Integration – Putting the components together Qualification testing – Testing the system (not just the software) Installation – The process of making the system operational – Includes setting up standing data, setting system parameters, installing on operational hardware platforms, user training etc Acceptance support – Including maintenance and enhancement Plans, methods and methodologies:  A plan of an activity must be based on some idea of a method of work. While a method relates to a type of activity in general, a plan takes one or more methods and converts them into real activities by identifying: Start and end dates Who will carry it out What tools and materials would be needed. A methodology is a set of related methods. Strictly speaking ‘methodology’ ought to mean the study of methods! Some ways of categorizing projects: Distinguishing different types of project is important as different types of task need different project approaches e.g. Voluntary systems (such as computer games) versus compulsory systems e.g. the order processing system in an organization Information systems versus embedded systems Objective-based versus product-based Product-development versus outsourced With objective-based projects, a general objective or problem is defined, and there are several different ways in which that objective could be reached. The project team have freedom to select what appears to be the most appropriate approach. With product-based projects, the product is already very strictly defined and the development team’s job is to implement the specification with which they have been presented. Arguably, information systems projects are more likely to be objective-based than is the case with software engineering. In many cases, an objective-based project could consider a problem and recommend a solution that is then implemented by a product- based project. A Categorization of Software Projects: Two Types of Software Projects Software product development projects Software services projects Software Services: Software service is an umbrella term, includes: – Software customization – Software maintenance – Software testing – Also contract programmers who carry out coding or any other assigned activities. Project Charter: Project charter is an important high level document that authorizes the starting of a project and use of the required resources. Project charter outlines the project objectives, deliverables and the resources required. Project Charter documents the aspects that are out of scope, identifies stakeholders, roles and responsibilities. The project charter is signed and issued by a member of the top management of the company whao also takes up the role of the sponsor of the project. Project charter serves as a guiding document for all activities concerning the project. This document is not expected to change throughout the project life cycle unlike other documents like project plan, risk management plan and work break down structure (WBS) Stakeholders: These are people who have a stake or interest in the project In general, they could be users/clients or developers/implementers They could be: Within the project team Outside the project team, but within the same organization Outside both the project team and the organization Different stakeholders may have different objectives – need to define common project objectives Each stakeholder will have their own goals and concerns in relation to the project which may be different from those of the project as a whole. For example, a software developer might work to make a living, pay the mortgage, learn new things and solve interesting problems. The main stakeholders need, however, to understand and accept overall project objectives that everyone can agree to. Additional Learning: https://opentextbc.ca/projectmanagement/chapter/chapter-5-project-stakeholders- project-management/ Video on Identify Stakeholders https://www.youtube.com/watch?v=8uZiGB8DeJg Setting objectives: Answering the question ‘What do we have to do to have a success?’ Need for a project authority – Sets the project scope – Allocates/approves costs Could be one person - or a group – Project Board – Project Management Board – Steering committee Different people who are involved in a project (Stakeholders) will have different interests in the project and are likely to see different outcomes as being important. For example, end-users would want a system that is ‘user-friendly’, that is, easy to learn and to use, and a system that helps rather than hinders them from doing their jobs. Their managers may be more interested in whether the new system would allow them to reduce staffing levels. It is important therefore that a set of clearly defined objectives are identified and published for the project. Some individual or group needs to be pinpointed who acts as the main client for the project. Objectives: Informally, the objective of a project can be defined by completing the statement: The project will be regarded as a success if………. Rather like post-conditions for the project Focus on what will be put in place, rather than how activities will be carried out  The focus here needs to be on what the situation will be when the project is completed. In what ways will the world be different? The objectives should avoid describing activities: e.g. ‘a new payroll application will be operational by 4th April’ not ‘design and code a new payroll application’ Objectives should be SMART: S – specific, that is, concrete and well-defined M – measurable, that is, satisfaction of the objective can be objectively judged A – achievable, that is, it is within the power of the individual or group concerned to meet the target R – relevant, the objective must relevant to the true purpose of the project T – time constrained: there is defined point in time by which the objective should be achieved Additional Learning: Smart Objectives and how to apply them: https://www.professionalacademy.com/blogs-and-advice/what-are-smart-objectives- and-how-do-i-apply-them Goals/sub-objectives: These are steps along the way to achieving the objective Informally, these can be defined by completing the sentence To reach objective X, the following must be in place A…………… B…………… C…………… etc Scoring a goal in football is a ‘goal’ or sub-objective on the way to achieving the overall objective of winning the match. Sub-objectives and objectives can be nested in a hierarchy, so that the objective of winning the match could itself be a goal or sub-objective on the way to winning the league etc. Often a goal can be allocated to an individual. Individual might have the capability of achieving goal on their own, but not the overall objective e.g. Overall objective – user satisfaction with software product Analyst goal – accurate requirements Developer goal – reliable software Goals can be formulated in such a way that they represent what an individual or group need to do to contribute to the success of the project’s objectives. In the example above, the analyst or developer, by themselves, cannot guarantee user satisfaction. However, the analyst can contribute to the  achievement of the objective by making sure the users’ requirements are accurately recorded and the developer by making sure that the software is reliable. Measures of effectiveness: How do we know that the goal or objective has been achieved? By a practical test, that can be objectively assessed. e.g. for user satisfaction with software product: Repeat business – they buy further products from us Number of complaints – if low etc etc The business case: Benefits of delivered project must outweigh costs Costs include: - Development - Operation Benefits include: - Quantifiable - Non-quantifiable It is not always possible to put a precise financial on the benefits of a project. The client’s willingness to pay up to a certain price to get a project implemented implies that they have informally identified a value to them of getting that project implemented. Project success/failure: Degree to which objectives are met  In general if, for example, project is running out of time, this can be recovered for by reducing scope or increasing costs. Similarly costs and scope can be protected by adjusting other corners of the ‘project triangle’. Other success criteria: These can relate to longer term, less directly tangible assets Improved skill and knowledge Creation of assets that can be used on future projects e.g. software libraries Improved customer relationships that lead to repeat business What is management? This involves the following activities: Planning – deciding what is to be done Organizing – making arrangements Staffing – selecting the right people for the job Directing – giving instructions Monitoring – checking on progress Controlling – taking action to remedy hold-ups Innovating – coming up with solutions when problems emerge Representing – liaising with clients, users, developers and other stakeholders Additional Learning: Management Study Guide https://www.managementstudyguide.com/what_is_management.htm Case Study: Paul Duggan is the manager of a software development section. On Tuesday at 10.00 am he and his fellow section heads have a meeting with their group manager about the staffing requirements for the coming year. Paul has already drafted document ‘bidding’ for staff’. This is based on the work planned for his section for the next year. The document is discussed at the meeting. At 2.00 pm Paul has a meeting with his senior staff about an important project his section is undertaking. One of the software development staff has just had a road accident and will be in hospital for some time. It is decided that the project can be kept on schedule by transferring another team member from less urgent work to this project. A temporary replacement is to be brought in to do the less urgent work, but this might take a week or so to arrange. Paul has to phone both the personnel manager about getting a replacement and the user for whom the less urgent work is being done explaining why it is likely to be delayed. Identify which of the eight management responsibilities listed above Paul was responding to at different points during his day. Video on Management https://www.youtube.com/watch?v=_OBqwhYLEJo Project Planning: In the project initiation stage, an initial plan is made. As the project start, the project is monitored and controlled to proceed as per the plan. But, the initial plan is refined from time to time to factor in additional details and constraints about the project become available. Important activities: – Estimation – Scheduling – Staffing  – Risk management – Miscellaneous plans Traditional versus Modern Project Management: Rather than making a long term project completion plan, the project manager now plans all incremental deliveries with evolving functionalities. This type of project management is often called Extreme project management. Projects are increasingly being based on either tailoring some existing product or reusing certain pre-built libraries. Facilitating and accommodating client feedbacks Facilitating customer participation in project development work Incremental delivery of the product with evolving functionalities. Management control: Data – the raw details e.g. ‘6,000 documents processed at location X’ Information – the data is processed to produce something that is meaningful and useful e.g. ‘productivity is 100 documents a day’ Comparison with objectives/goals e.g. we will not meet target of processing all documents by 31st March Modelling – working out the probable outcomes of various decisions e.g. if we employ two more staff at location X how quickly can we get the documents processed?  Implementation – carrying out the remedial actions that have been decided upon Project Management Processes: In the project initiation stage, an initial plan is made. As the project starts, the project is executed and controlled to proceed as planned. Finally, the project is closed. Video on Project Management Life Cycle https://www.youtube.com/watch?v=qzUozepFlbE Project Management Life Cycle Versus Product Development Life Cycle: During the software development life cycle, the software developers carry out several types of development processes. On the other hand, during the software project management life cycle, the software project manager carries out several project management processes. Phases of Project Management Life Cycle: Project Initiation: During the project initiation phase it is crucial for the champions of the project to develop a thorough understanding of the important characteristics of the project. In his W5HH principle, Barry Boehm summarized the questions that need to be asked and answered in order to have an understanding of these project characteristics. W5HH Principle: A series of questions that lead to a definition of key project characteristics: – Why is the software being built? – What will be done? – When will it be done? – Who is responsible for a function? – Where are they organizationally located? – How will the job be done technically and managerially? – How much of each resource is needed?  Project Planning: Various plans are made: – Project plan: Assign project resources and time frames to the tasks. – Resource plan: List the resources, manpower and equipment that required to execute the project. – Financial plan: plan for manpower, equipment and other costs. – Quality plan: Plan of quality targets and control. – Risk plan: Identification of the potential risks, their prioritization and a plan for the actions that would be taken to contain the different risks. Project Execution: Tasks are executed as per the project plan Monitoring and control processes are executed to ensure that the tasks are executed as per plan Corrective actions are initiated whenever any deviations from the plan are noticed. Project Closure: Involves completing the release of all the required deliverables to the customer along with the necessary documentation. Subsequently, all the project resources are released and supply agreements with the vendors are terminated and all the pending payments are completed. Finally, a post-implementation review is undertaken to analyze the project performance and to list the lessons learnt for use in future projects.  Chapter Two Project evaluation and programme management Main topics to be covered: The business case for a project Project portfolios Project evaluation – Cost benefit analysis – Cash flow forecasting Programme management Benefits management The business case: It is worth recalling the difference between project success (the project is successfully completed) and business risks (the new product or system successfully established by the project goes on to generate benefits for the organization). Feasibility studies can also act as a ‘business case’ Provides a justification for starting the project Should show that the benefits of the project will exceed development, implementation and operational costs Needs to take account of business risks Contents of a business case: 1. Introduction/ background 2. The proposed project 3. The market 4. Organizational and operational infrastructure 5. The benefits 6. Outline implementation plan 7. Costs 8. The financial case 9. Risks 10. Management plan Details: Introduction/background: describes a problem to be solved or an opportunity to be exploited The proposed project: a brief outline of the project scope  The market: the project could be to develop a new product (e.g. a new computer game). The likely demand for the product would need to be assessed. Organizational and operational infrastructure: How the organization would need to change. This would be important where a new information system application was being introduced. Benefits These should be express in financial terms where possible. In the end it is up to the client to assess these – as they are going to pay for the project. Outline implementation plan: how the project is going to be implemented. This should consider the disruption to an organization that a project might cause. Costs: the implementation plan will supply information to establish these Financial analysis: combines costs and benefit data to establish value of project. Project portfolio management: The concerns of project portfolio management include: Evaluating proposals for projects Assessing the risk involved with projects Deciding how to share resources between projects Taking account of dependencies between projects Removing duplication between projects Checking for gaps There are three elements to PPM: 1. Project portfolio definition – Create a central record of all projects within an organization – Must decide whether to have ALL projects in the repository or, say, only ICT projects – Note difference between new product development (NPD) projects and renewal projects e.g. for process improvement 2. Project portfolio management Actual costing and performance of projects can be recorded and assessed. 3. Project portfolio optimization Information gathered above can be used achieve better balance of projects e.g. some that are risky but potentially very valuable balanced by less risky but less valuable projects. You may want to allow some work to be done outside the portfolio e.g. quick fixes. Additional Learning: PPM Defined https://www.ecosys.net/knowledge/what-is-ppm/ Video on Introduction to CBA https://www.youtube.com/watch?v=7tdKkeNClPE Cost benefit analysis (CBA): This relates to an individual project. You need to: Identify all the costs which could be: – Development costs – Set-up – Operational costs Identify the value of benefits Check benefits are greater than costs Video on Cost-Benefits Analysis https://www.youtube.com/watch?v=7tdKkeNClPE&t=63s Addition Learning: Distribution Analysis in CBA: https://oxford.universitypressscholarship.com/view/10.1093/acprof:oso/97801999343 86.001.0001/acprof-9780199934386-chapter- 18?gclid=CjwKCAjwuvmHBhAxEiwAWAYj- IoUCsZtzWC6XfKfyQ4ySK9HnniSLJF7avKBKRG5Fc325Y7ntBn_JRoClTIQAvD_BwE Case Study: Brightmouth College is considering the replacement of the existing payroll service, operated by a third party, with a tailored, off-the-self computer-based system. List some of the costs it might consider under the heading of: Development costs Setup costs List some of the benefits under the headings: Quantified and valued benefits Quantified but not valued Identified but not easily valued For each cost or benefit, explain how, in principle, it might be measured in monetary terms. Product/system life cycle cash flows: The timing of costs and income for a product of system needs to be estimated. The development of the project will incur costs. When the system or product is released it will generate income that gradually pays off costs Some costs may relate to decommissioning – think of demolishing a nuclear power station. Exercise: Consider the project cash flow estimates for four projects at JOE shown in the table; Negative levels represent expenditure and positive values income. Rank the four projects in order of financial desirability and make a note of your reasons for ranking them in that way. Year Project 1 Project 2 Project 3 Project 4 0 -100000 -1000000 -100000 -120000 1 10000 200000 30000 30000 2 10000 200000 30000 30000 3 10000 200000 30000 30000 4 20000 200000 30000 30000 5 100000 300000 30000 75000 Net Profit 50000 100000 50000 75000 Project 2 has the highest rank as per Net Profit. Ex 2.3: Consider the project cash flow and identify the best project. Year Project 1 Project 2 Project 3 Project 4 0 -100000 -100000 -1000000 -120000 1 20000 20000 300000 30000 2 30000 30000 300000 30000 3 10000 20000 300000 30000 4 20000 20000 300000 30000 5 20000 30000 300000 50000 Net Profit Net profit: Year Cash-flow 0 -100,000 1 10,000 2 10,000 3 10,000 4 20,000 5 100,000 Net 50,000 profit  ‘Year 0’ represents all the costs before system is operation ‘Cash-flow’ is value of income less outgoing Net profit value of all the cash-flows for the lifetime of the application Pay back period This is the time it takes to start generating a surplus of income over outgoings. What would it be below? Year Cash-flow Accumulated 0 -100,000 -100,000 1 10,000 -90,000 2 10,000 -80,000 3 10,000 -70,000 4 20,000 -50,000 5 100,000 50,000 The payback period would be about 4.5 years. This can be calculated as the last year in which the accumulated cash flow was negative + (absolute accumulated cash flow at the end of that year / cash-flow for the next year) e.g. year 4 + (50,000/100,000). This assumes that the flow of cash is constant throughout the year in question e.g. £100,000/12 or £8,333 a month in year 5. Return on investment (ROI): Return on investment (ROI) = Average annual profit X 100 Total investment In the previous example average annual profit = 50,000/5 = 10,000 ROI = 10,000/100,000 X 100 = 10% Net present value: Would you rather I gave you £100 today or in 12 months time? If I gave you £100 now you could put it in savings account and get interest on it.  If the interest rate was 10% how much would I have to invest now to get £100 in a year’s time? This figure is the net present value of £100 in one year’s time If you invested £91 now you would get £9.10 in interest which would give you £100.10 in 12 months. The interest rate of 10% is used purely to make it easy to do the calculations, not because it is a realistic rate. Discount factor: Discount factor = 1/(1+r)t r is the interest rate (e.g. 10% is 0.10) t is the number of years In the case of 10% rate and one year Discount factor = 1/(1+0.10) = 0.9091 In the case of 10% rate and two years Discount factor = 1/(1.10 x 1.10) =0.8294 Applying discount factors: NPV is the sum of the discounted cash flows for all the years of the ‘project’ (note that in NPV terms the lifetime of the completed application is included in the ‘project’) The figure of £618 means that £618 more would be made than if the money were simply invested at 10%. An NPV of £0 would be the same amount of profit as would be generated by investing at 10%. Year Cash-flow Discount Discounted factor cash flow 0 -100,000 1.0000 -100,000 1 10,000 0.9091 9,091 2 10,000 0.8264 8,264 3 10,000 0.7513 7,513 4 20,000 0.6830 13,660 5 100,000 0.6209 62,090 NPV 618 Internal rate of return: Internal rate of return (IRR) is the discount rate that would produce an NPV of 0 for the project  Can be used to compare different investment opportunities There is a Microsoft Excel function which can be used to calculate Dealing with uncertainty: Risk evaluation: project A might appear to give a better return than B but could be riskier Draw up a project risk matrix for each project to assess risks – see next overhead For riskier projects could use higher discount rates Video on What is Risk Management, https://www.youtube.com/watch?v=TcKoUe8vRE0 Example of a project risk matrix: In the table ‘Importance’ relates to the cost of the damage if the risk were to materialize and ‘likelihood’ to the probability that the risk will actual occur. ‘H’ indicates ‘High’, ‘M’ indicates ‘medium’ and ‘L’ indicates ‘low’. The issues of risk analysis are explored in much more depth in lecture/chapter 7. Cost benefit Analysis: Consider each possible outcome and estimate the probability of its occurring and the corresponding value of the outcome. Find the cash flow forecast for each risk with an associated probability of occurring. The value of the project is then obtained by summing the cost or benefit for each possible outcome weighted by its corresponding probability. Decision trees: This illustrates a scenario that could relate to the IOE case study. Say Amanda is responsible for extending the invoicing system. An alternative would be to replace the whole of the system. The decision is influenced by the likelihood of IOE expanding their market. There is a strong rumour that they could benefit from their main competitor going out of business: in this case they could pick up a huge amount of new business, but the invoicing system could not cope. However replacing the system immediately would mean other important projects would have to be delayed. The NPV of extending the invoicing system is assessed as £75,000 if there is no sudden expansion. If there were a sudden expansion then there would be a loss of £100,000. If the whole system were replaced and there was a large expansion there would be a NPV of £250,000 due to the benefits of being able to handle increased sales. If sales did not increase then the NPV would be - £50,000. The decision tree shows these possible outcomes and also shows the estimated probability of each outcome.  The value of each outcome is the NPV multiplied by the probability of its occurring. The value of a path that springs from a particular decision is the sum of the values of the possible outcomes from that decision. If it is decided to extend the system the sum of the values of the outcomes is £40,000 (75,000 x 0.8 – 100,000 x 0.2) while for replacement it would be £10,000 (250,000 x 0.2 – 50,000 x 0.80). Extending the system therefore seems to be the best bet. Programme management: One definition: ‘a group of projects that are managed in a co-ordinated way to gain benefits that would not be possible were the projects to be managed independently’ Ferns Programmes may be Strategic Business cycle programmes Infrastructure programmes Research and development programmes Innovative partnerships Strategic Several projects together implement a single strategy. For example, merging two organizations will involve many different activities e.g. physical re-organization of offices, redesigning the corporate image, merging ICT systems etc. Each of these activities could be project within an overarching programme. Business cycle programmes A portfolio of project that are to take place within a certain time frame e.g. the next financial year Infrastructure programmes In an organization there may be many different ICT-based applications which share the same hardware/software infrastructure Research and development programmes In a very innovative environment where new products are being developed, a range of products could be developed some of which are very speculative and high-risk but potentially very profitable and some will have a lower risk but will return a lower profit. Getting the right balance would be key to the organization’s long term success Innovative partnerships e.g. pre-competitive co-operation to develop new technologies that could be exploited by a whole range of companies Programme managers versus project managers: The programme manager may well have a pool of staff upon which to call. He/she will be concerned with ensuring the best use of staff e.g ensuring that staff have regular work with no periods of enforced idleness between project tasks. The project leader would think in terms of ‘I need a Java programmer for four weeks’ without being concerned which specific person it is (beyond obvious concerns that they are fully capable). Programme manager: – Many simultaneous projects – Personal relationship with skilled resources – Optimization of resource use – Projects tend to be seen as similar Project manager: – One project at a time – Impersonal relationship with resources – Minimization of demand for resources – Projects tend to be seen as unique Managing the Allocation of Resources within Programmes: Resources shared between concurrent projects Projects sharing resources: During the resource allocation phase of project planning – some project activities could be delayed while waiting for a resource to become available. Strategic programmes: Based on OGC approach Initial planning document is the Programme Mandate describing – The new services/capabilities that the programme should deliver – How an organization will be improved – Fit with existing organizatioal goals A programme director appointed a champion for the scheme The material here is based on the UK government’s Office of Government Commerce (OGC) approach which is described in detail in their publication Managing successful programmes. The programme director should be someone who is in a prominent position in the organization so that the seriousness and commitment of the organization to the programme are made clear. For example - It might be found at the IOE company that the customers’ experience of the organization can be very variable and inconsistent. The employee who records the customer’s requirements is different from the people who actually carry out the work and different again from the clerk who deals with accounts. Different maintenance engineers deal with different types of equipment. A business objective might be to present a consistent and  uniform interface to the client. This objective might need changes to a number of different systems which until now have been largely self-contained. The work to reorganize each individual area might be treated as separate projects, co-ordinated at a higher level as a programme. Next stages/documents: The programme brief – equivalent of a feasibility study: emphasis on costs and benefits The vision statement – explains the new capability that the organization will have The blueprint – explains the changes to be made to obtain the new capability Aids to Programme Management: Dependency diagram Delivery planning Some Reservations about Programme Management  Focus on structure – e.g. who reports to whom, at the expense of process – e.g. the basis on which decisions are made. Benefits management: Providing an organization with a capability does not guarantee that this will provide benefits envisaged – need for benefits management This has to be outside the project – project will have been completed Therefore done at programme level Benefit profiles can be produced that document when and how it is planned that the benefits will be experienced. As different components of the new capability are developed, a series of tranches of projects (projects grouped in different steps of the programme) may be completed, each with a set of associated benefits. The achievement of benefits might be made the responsibility of staff who are designated as business change managers. To carry this out, you must: Define expected benefits Analyse balance between costs and benefits Plan how benefits will be achieved Allocate responsibilities for their achievement Monitor achievement of benefits  Video on Benefits Management, https://www.youtube.com/watch?v=bTS8HSZeIRc Benefits: These might include: Mandatory requirement Improved quality of service Increased productivity More motivated workforce Internal management benefits Risk reduction Economies Revenue enhancement/acceleration Strategic fit We need to comply with a mandatory requirement, the question of benefits is irrelevant in this case. However as failure to comply will a negative outcome (e.g. not being able to trade), avoiding that negative outcome is clearly a benefit which could be costed. ‘Internal management benefits’ includes things like better decision-making. In the case of an insurance company a deeper analysis of insurance claims might help identify types of business that are most risky and allow the company to adjust premiums to cover these. ‘Economies’ refers to cost-cutting e.g. using an automated telephone system to direct calls without human intervention could allow an organization to reduce staff. Revenue enhancement/acceleration e.g. the sooner that bills reach the customers, the sooner they can pay them. ‘Strategic fit’ A change might not benefit any single group within an organization but might have to be made to obtain a benefit for the organization as a whole. Video on Benefit Management Realization https://www.youtube.com/watch?v=thj6tTLcBfY Quantifying benefits: Benefits can be: Quantified and valued e.g. a reduction of x staff saving £y Quantified but not valued e.g. a decrease in customer complaints by x% Identified but not easily quantified – e.g. public approval for a organization in the locality where it is based Remember A project may fail not through poor management but because it should never have been started A project may make a profit, but it may be possible to do something else that makes even more profit A real problem is that it is often not possible to express benefits in accurate financial terms Projects with the highest potential returns are often the most risky  Chapter 3 Step Wise: An approach to planning software projects This chapter provides an overview of the basic steps needed to produce a project plan. The framework provided allows students to identify where some of the particular issues discussed in other chapters are applied to the planning process. One element of project planning will be to decide what project control procedures need to be in place. ‘Step Wise’ – aspirations: The motivation for identifying an overall framework was that students, and others, were often at a loss as to where to start when new to project planning. A structured approach was seen as catering for the needs of such people. Students are perhaps most likely to come into contact with some kind of project planning (i) when they are involved in student projects, especially those carried in groups and (ii) if they are members of a project team when they are undertaking a placement year in industry. The first situation is probably quite small-scale compared to the second. The same general principles of planning however relate to both. Practicality – tries to answer the question ‘what do I do now?’ Scalability – useful for small project as well as large Range of application Accepted techniques – e.g. borrowed from PRINCE etc. The approach described here is designed to be applicable to a range of different types of project. For example, multimedia projects are not explicitly discussed, but one of the authors teaches a course project management for multimedia and the general approach described here seems to work satisfactorily when applied to these types of projects. It might be asked why a standard approach such as PRINCE2 has not been adopted. There has been caution about using PRINCE2 more centrally because: PRINCE2 tend to be used mainly in the UK and many users of the Software Project Management textbook are from elsewhere The content of this course would be vulnerable to changes to the method imposed by its design authority PRINCE2 tends to focus more on procedural and bureaucratic matters at the expense of techniques – the few planning techniques that are associated with PRINCE, for example, the development of product flow diagrams, are used in the Step Wise approach as well. ‘Step Wise’ - an overview: This is an overview of the main steps, details of which will be discussed in the following overheads: 0. Select project: There must be some process by which the project to be executed was selected. Chapter 3 on project evaluation looks at this in more detail. 1. Identify project objectives: It is important that at the outset the main stakeholders are all aware of the precise objectives of the project. 2. Identify project infrastructure: This may not be a significant step where you are working on an in-house project in a very familiar environment. However, where the project is being carried out for external clients then you may need to investigate the characteristics of the environment in which the project is to be carried out. 3. Analyse project characteristics: Different types of project will need different technical and management approaches. For example, a project to implement control software embedded in industrial equipment will need a different set of methods than a project to implement a business information system. A multimedia application would again need a different set of activities. 4. Identify products and activities: With software projects, it is best to start by listing the products, both deliverable and intermediate, to be created. The activities needed to create the products can then be identified 5. Estimate effort for activity.  6. Identify activity risks: Having assessed the amount of effort and the elapsed time for a project, the reasons why these might be vary during the actual execution of the project need to be considered. Where there is a very high risk of additional effort/time being needed then actions to reduce this risk may be formulated. 7. Allocate resources: With software projects, these resources will mainly be staff, but could be equipment etc. 8. Review/publicize: It is no good having a plan if no one knows about it 9. Execute Plan. 10. Lower level planning: Not all of a project, especially when it is large, can be planned in detail at the outset. Not all the information needed to plan the later stages will be available at the beginning: for example software development cannot be broken down into precise sub-tasks with realistic target times until more is known about what the overall design of the system is known. A project scenario: Brightmouth College Payroll: College currently has payroll processing carried out by a services company This is very expensive and does not allow detailed analysis of personnel data to be carried out Decision made to bring payroll ‘in-house’ by acquiring an ‘off-the-shelf’ application The use of the off-the-shelf system will require a new, internal, payroll office to be set up There will be a need to develop some software ‘add-ons’: one will take payroll data and combine it with time-table data to calculate the staff costs for each course run in the college The project manager is Brigette. Step 1: establish project scope and objectives: 1.1 Identify objectives and measures of effectiveness – ‘how do we know if we have succeeded?’ 1.2 Establish a project authority – ‘who is the boss?’ 1.3 Identify all stakeholders in the project and their interests – ‘who will be affected/involved in the project?’ 1.4 Modify objectives in the light of stakeholder analysis – ‘do we need to do things to win over stakeholders?’ 1.5 Establish methods of communication with all parties  – ‘how do we keep in contact?’ 1.1. Identifying objectives and measures of effectiveness. Key points are that the student project objectives must be such that a student can realistically be responsible for their achievement. For instance, an objective to reduce conflict between project team members would be at too high a level for a software developer: he or she is there to produce software and evaluation of the particular psychometric test would be outside their capabilities. If the student was a psychology student and the project was regarded as a psychological one, then things might be different. 1.2.Establishment of a project authority In the case of students on placement or carrying final year projects for outside organizations, the problem of identifying who has the final say on the project can occur surprisingly often, particular when different user groups have conflicting requirements. In larger, more formal projects, the project authority might reside in a Project Board or steering committee. 1.3 Identify all stakeholders in the project and their interests. Stakeholders can be anyone who has an interest in the project. They may be users of the final application or might be involved in the development or implementation of the project. 1.4 Modify objectives in the light of stakeholder analysis. The key point here is the need to ensure commitment to the project from the important stakeholders. This might need to be done by ensuring that there is some benefit from the project for them. 1.5 Establish methods of communication with all parties In the case of a small student project, it might be mainly swapping email addresses and mobile phone numbers. With larger projects, it could involve setting up groups who meet regularly to co-ordinate action. Sometimes specific ‘communication plans’ are drawn up to deal with these issues. Back to the scenario: Project authority - Brigette finds she has two different clients for the new system: the finance department and the personnel office. A vice principal agrees to be official client, and monthly meetings are chaired by the VP and attended by Brigette and the heads of finance and personnel - These meetings would also help overcome communication barriers Stakeholders/revision to objectives: The application will not ultimately be a success if project team members are not happy to use the system. They might be happier to use the testing system if the results of their own tests were  automatically notified to them personally by the software application, so that this might have to be added as a requirement for the project. For example, personnel office would supply details of new staff, leavers and changes (e.g. promotions) To motivate co-operation Brigette might ensure new payroll system produces reports that are useful to personnel staff Step 2 Establish project infrastructure: At the same time as establishing exactly what the project objectives are, the person responsible may know little about the organizational environment in which the application is to be developed and implemented. The actions in Step 2 address this problem. 2.1 Establish link between project and any strategic plan – ‘why did they want the project?’ 2.2 Identify installation standards and procedures – ‘what standards do we have to follow?’ 2.3. Identify project team organization – ‘where do I fit in?’ Step 3 Analysis of project characteristics: Step 3 is about examining the nature of the application to be built and the environment in which it is to be built and implemented and identifying the most appropriate technical approach. 3.1 Distinguish the project as either objective or product-based. – Is there more than one way of achieving success? 3.2 Analyse other project characteristics (including quality based ones) – what is different about this project? 3.1 Objective-based versus product-based projects. With a product-based project the developers have to create a product, the specification of which is often (but not always) clearly defined. In an objective-based project, a problem is defined that needs to be solved but there could be more than one solution. For example, if an organization needed a payroll application they might consider (a) writing the system themselves (b) using a service company to do the payroll for them (c) acquire an off- the-shelf package. 3.2 Analyse other project characteristics – such as is it an information system or an embedded real time or a multimedia application? Is it safety-critical? etc. The payroll application is clearly an information system. If an off-the-shelf application is adopted, there is plenty of guidance on how off-the-shelf applications can be accessed and selected that could be consulted by Brigette. Identifying high level risks could influence the general approach to the project. For example, if the users appeared to be uncertain about the precise nature of the requirement then a more iterative approach, including the use of prototypes to refine user needs, might be selected. If the application is very large and complex then breaking it down into increments might be the way to proceed. Identify high level project risks – ‘what could go wrong?’ – ‘what can we do to stop it?’ Take into account user requirements concerning implementation Select general life cycle approach – waterfall? Increments? Prototypes? Review overall resource estimates – ‘does all this increase the cost?’ Back to the scenario: Objectives vs. products – An objective-based approach has been adopted Some risks – There may not be an off-the-shelf package that caters for the way payroll is processed at Brightmouth College Answer? – Brigette decides to obtain details of how main candidate packages work as soon as possible; also agreement that if necessary processes will be changed to fit in with new system. Step 4 Identify project products and activities: Here we follow the PRINCE approach of firstly identifying the products to be created. These products could be deliverables that will eventually be handed over to the customer, or intermediate products such as specifications and design documents, that are produced along the way. 4.1 Identify and describe project products - ‘what do we have to produce?’ The PBS is a way of listing these products. In the scenario, one set of products will relate to the products needed to produce one or more invitations to tender (ITTs) to supply the hardware and software needed to operate the new payroll application. In order to allow the most suitable configuration to be identified the number of transactions and the size of the database needed will have to be identified – volume figures. To set up an appropriate network attached to secure printers and servers, a layout of the proposed office will need to be created. A user requirement will need to be produced which describes the existing system, identifies additional requirements (such as the need to be able to access database details in order to produce one-off queries and reports), and some test data and expected results which further illuminate the details of the requirements. This test data could form the basis of user acceptance tests. Products: The result of an activity Could be (among other things) – physical thing (‘installed pc’), – a document (‘logical data structure’) – a person (‘trained user’) – a new version of an old product (‘updated software’) The following are NOT normally products: – activities (e.g. ‘training’) – events (e.g. ‘interviews completed’) – resources and actors (e.g. ‘software developer’) - may be exceptions to this Products CAN BE deliverable or intermediate Product description (PD): The names of products on the PBS can be rather vague. If you were to ask someone to produce, for example, the ‘analysis report’ in the usability testing scenario, then you would need to explain exactly what you mean by that. This is done via a Product Description. PDs can usually be re-used from one project to another. Note that they are different from specifications – the explanation in general terms what a product is and the description is relevant to all instances of that product. A specification describes a particular instance within the class of products. Product identity Description - what is it? Derivation - what is it based on? Composition - what does it contain? Format Relevant standards Quality criteria 4.2 document generic product flows: The product flow diagram shows the order in which the products have to be completed. Effectively it defines a method of working. The flow of the PFD is generally from top to bottom and left to right. We do no put in lines which loop back. This is not because iterative and back-tracking is not accepted. Rather it is that you can in theory jump back to any preceding product. Step 4.3 Recognize product instances: The PBS and PFD will probably have identified generic products e.g. ‘software modules’ It might be possible to identify specific instances e.g. ‘module A’, ‘module B’ … But in many cases this will have to be left to later, more detailed, planning 4.4. Produce ideal activity network: Identify the activities needed to create each product in the PFD More than one activity might be needed to create a single product Hint: Identify activities by verb + noun but avoid ‘produce…’ (too vague) Draw up activity network An ‘ideal’ activity: The activity network is the basis of the data that is input to planning software tools like MS Project. Step 4.5 Add check-points if needed: There are some points in the project when we want to check that the quality of what we have done so far is a sound basis for further work. In the example we have decided to check that all the module designs are compatible with one another before continuing. Note that the benefit of reducing wasted work at a later stage when incompatibilities lead to products being reworked, has to be balanced against the delay caused by the check-point. The start of coding of modules A, B and C all have to wait for the completion of the design of all the modules A, B and C. With no check-point, module A could be coded as soon as the design of module A had been done without having to wait for B and C. Step 5: Estimate effort for each activity: Effort is the total number of staff-hours (or days etc) needed to complete a task. Elapsed time is the calendar time between the time task starts and when it ends. If 2 people work on the same task for 5 days without any interruption, then the effort is 10 staff-days and the elapsed time is 5 days. Using the PBS/PFD to generate the activities often means that some activities are very small and others are huge. Often there is an activity called ‘write software’ which is 70% of a software development project. These large activities need to be broken down into more manageable small tasks. You should aim for the average length of your activities to be about the time between progress meetings e.g. if you have team progress meeting once a fortnight, try to make the tasks last about 2 weeks. 5.1 Carry out bottom-up estimates – distinguish carefully between effort and elapsed time 5.2. Revise plan to create controllable activities – break up very long activities into a series of smaller ones – bundle up very short activities (create check lists?) Step 6: Identify activity risks: Note that we have already considered some high level risks that could affect the project as a whole at Step 3. Estimates of the effort and duration of activities can be quite tricky. When you produce an estimate for an activity it is worth reflecting about the events which could cause the assumptions upon which you have based your estimate to be wrong. Where the risk seems very high, then you might try to introduce new activities specifically designed to reduce the risk, or to formulate a contingency action if the risk should materialize. For example, there is not much you can do to stop people getting the flu at a critical time in the project, but you might be able to have a plan to bring in temporary cover for sickness in the case of time- critical activities. 6.1.Identify and quantify risks for activities – damage if risk occurs (measure in time lost or money) – likelihood if risk occurring 6.2. Plan risk reduction and contingency measures – risk reduction: activity to stop risk occurring – contingency: action if risk does occur 6.3 Adjust overall plans and estimates to take account of risks – e.g. add new activities which reduce risks associated with other activities e.g. training, pilot trials, information gathering Step 7: Allocate resources: You now need to allocate resources (in particular, staff) to the activities in the plan. Where there is a resource constraint, that is there are not enough staff (or other resource) of the right type to start all the activities that run in parallel at the planned time, then the start of some activities may need to be delayed until the appropriate resources are available. 7.1 Identify and allocate resources to activities 7.2 Revise plans and estimates to take into account resource constraints – e.g. staff not being available until a later date – non-project activities Gantt charts: A Gantt chart, commonly used in project management, is one of the most popular and useful ways of showing activities (tasks or events) displayed against time. On the left of the chart is a list of the activities and along the top is a suitable time scale. Each activity is represented by a bar; the position and length of the bar reflects the start date, duration and end date of the activity. We now have the basic information needed to produce a plan. One way of presenting the plan is by means of a Gantt chart (named after Henry Gantt). Step 8: Review/publicise plan: We have noted already that it is not feasible to produce a detailed plan for all stages of the project right at the beginning of the project planning process and not all the information needed for the detailed planning of the later stages is available at the outset. Initially an outline plan for the whole project would be produced, plus a detailed plan for the first stage.  8.1 Review quality aspects of project plan 8.2 Document plan and obtain agreement Step 9 and 10: Execute plan and create lower level plans Key points: Establish your objectives Think about the characteristics of the project Discover/set up the infrastructure to support the project (including standards) Identify products to be created and the activities that will create them Allocate resources Set up quality processes ******************************************************************* Graded Questions: Chapter 01 Introduction to Software Project Management 1. Why is project management important? 2. What is a project? What are its characteristics? 3. What are the Activities covered by project management? 4. Explain the software development life-cycle (ISO 12207). 5. What do you mean by Plans, methods and methodologies? 6. What are the different ways of categorizing projects? 7. Who are Stakeholders? 8. What do you mean by objectives and sub-objectives in a project? 9. What do mean by Project Management? Differentiate between Traditional and Modern Project Management. 10. Explain Management Control with a suitable diagram. 11. Explain about the different phases of Project Management Life Cycle. Chapter 02 Project evaluation and programme management 1. Describe Business Case. What are its contents? 2. What do you mean by Project portfolio management? What are its steps? 3. How do you perform Cost benefit analysis (CBA)? 4. What are the different Cost Benefit Evaluation Techniques? Year Cash-flow Discount factor Discounted cash flow 0 -100,000 1.0000 ? 1 10,000 0.9091 ? 2 10,000 0.8264 ? 3 10,000 0.7513 ?  4 20,000 0.6830 ? 5 100,000 0.6209 ? NPV ? 5. What do you mean by Risk evaluation? 6. Explain Programme management. 7. Differentiate between Programme managers and project managers. 8. How allocation of Resources within Programmes is managed? 9. Define Strategic programmes. 10. Define Benefits management. 11. Based on the Decision tree, whether the organization should extend or replace the system? Chapter 03 Step Wise: An approach to planning software projects 1. Explain the Step Wise approach to planning software projects. 2. Explain Step 1: establish project scope and objectives. 3. Write a note on Step 2 Establish project infrastructure. 4. Write a note on Step 3 Analysis of project characteristics. 5. Explain Step 4 Identify project products and activities. 6. What is Product? What is Product Desription? 7. How do add checkpoints in a Network Diagram? 8. How do you Allocate resources? Multiple Choice Questions 1. What are the Activities covered by Project Management? 1. Feasibility study 2. Planning 3. Time 4. None 2. Requirements phase of SDLC covers __________________________ 1. Quality 2. Functions 3. Scope 4. None 3. Testing the System includes ____________ 1. Installation Testing 2. Acceptance Testing 3. Qualification Testing 4. All of these 4. Software Service Projects includes _________________. 1. Maintenance projects 2. Generic Software Product 3. Vertical Software Product 4. None 5. Stakeholders of the project are _________________ 1. Users 2. Developers 3. Implementers 4. All of these 6. Project Cost involves _________________. 1. Development costs 2. Set-up cost 3. Operational costs 4. All of these 7. ____________________ can also act as a ‘business case’. 1. Project Management 2. Feasibility studies 3. Benefits 4. None 8. PPM stands for ______________________. 1. Portfolio Project Management 2. Project Portfolio Management 3. Management of Project Portfolio 4. None 9. Cost benefit Evaluation, Negative values represent ____________. 1. Expenditure 2. Income 3. Budget 4. none of these 10. Given a business case: Year 0 -100000 Year 1 20000 Year 2 20000 Year 3 30000 Year 4 20000 Year 5 30000 Year 6 20000 What is the Net Profit? 1. 20000 2. 30000 3. 40000 4. 50000 11. Which one of the following most closely describes the sequence of phases of a project management life cycle? 1. Initiation, planning, execution and closing 2. Concept, definition, development and closure 3. Initiation, definition, planning and monitoring 4. Concept, definition, implementation and maintenance 12. In which phase of the project management life cycle, most of the project funding is likely to be spent? 1. Initiating 2. Executing 3. Planning 4. Closeout 13. Which one of the following is not included in a project scope document? 1. The deliverables for the project 2. The features and functions that are to be included in the software 3. The time schedule 4. The project plan 14. ___________ document identifies the project tasks, and a schedule for the project task assigns project resources and time frame to the task. 1. Project plan 2. Resource plan 3. Financial plan 4. Quality plan 15. _______________ involves completing the release of all the required deliverables of the customer along with the necessary documentation. 1. Project Initiation 2. Project closure 3. Project Planning 4. Project execution  Gamification: Flash Card Activity on difference between Programme manager and project Manager: https://quizlet.com/in/515658795/difference-between-programme-manager- and-project-manager-flash-cards/ Flash Card Activity on CBA: https://quizlet.com/in/604102561/ty-spm-l7-flash-cards/?new Match Card on Project Portfolio Management: https://quizlet.com/515658795/match Match Card on Programme Management: https://quizlet.com/515770973/match Take Home Task: Calculate Net Present Value for each of the projects A, B and C shown in table using each discount rates 8%, 10% and 12%. For each of the discount rates, decide which is the best project. What can you conclude from these results? Year Project A Project B Project C 0 -8000 -8000 -10000 1 4000 1000 2000 2 4000 2000 2000 3 2000 4000 6000 4 1000 3000 2000 5 500 9000 2000 6 500 -6000 2000 Net Profit 4000 5000 6000 ----------------X-----------------