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Classes: 20th , 27th March, 3rd ,10th April 2011 Exam: 17th April 2011
: 5% : 35% : 60%
References
Harold Kerzner (2001), Project Management, A System Approach to Planning, Scheduling and Controlling, Seventh Edition, John Wiley & Sons, Inc. Donald S. Barrie and Boyd C. Paulson (1992), Professional Construction Management, Third Edition, McGraw-Hill International Editions Garold D. Oberlander (1993), Project Management for Engineering and Construction, McGraw-Hill International Editions George J. Ritz (1999), Total Construction Project Management, McGraw-Hill International Editions Prasanna Chandra (2000), Projects Planning Analysis Selection Implementation and Review, Fourth Edition, Tata McGraw-Hill Jimmie W. Hinze (2008), Construction Planning and Scheduling, Third Edition, Pearson International Edition
What is Project Management? Project and Management Project: A series of activities which to be completed within the available resources, predetermined specifications and within specific time frame. Management: An art of getting things done through other people.
Cost
Feasibility and Function
Time
Quality
Objective Triangles
Time Control
Project planning and programming Programme monitoring Documentation management Tender packaging to best serve the project Shop drawings and on-site control Monitoring contractors performance Contract administration Delays and time extension claims Fit-out procurement and control Developing pro-active planning to offset potential problems
Cost Control
Estimating
project cost Value analysis to reduce costs Cash-flow modeling Forecasting and cost control Variation control Tender and contracts letting Progress claims Claims mitigation Contractors preliminaries control
Quality Control Review of plans and specifications for constructibility and claims avoidance Management of design brief Change order and variation control management Inspection and quality assurance Defects correction Monitoring contractor safety
Feasibility Control
Evaluate
marketability Evaluate rental and capitalization rates Consider operational and life-cycle costs Estimate total project development costs Undertake risk assessment and sensitivity analysis Review project feasibility during development progress Achieve Clients return on investment
Function Control end-users requirement and objectives Review plans and specifications for design functionality Review plans and specifications for operational functionality Review and achieve Clients objectives
Consider
Process Input
Personnel Money Materials Policy Procedures Plans & Specifications Information systems and reports
feedback
Output
Organization Personnel Resources Work activities Facilities Services Schedules Budget Activities Data
High
High
Low
Owners project definition Preliminary engineering design Detailed engineering design Procurement of special equipment/material Contract construction work
Low
Current market situation has led to a new challenge to Project Manager Property market is becoming consumers/end users driven market
Projects:
One-off,
Source of uncertainty:
Constraints of resources Use of new and untried technology
Sources of Risk
There are two main categories that sources of risk fall into:
External
Factors beyond the project managers or companys control legislative requirements, e.g. safety, the environment, consumer protection, public opinion, market behavior
Internal
Factors within the control of the project manager and company product design, human behavior, corporate dispute, communication failure
Early Project Management concentrated on managing cost & schedule little known about technical risk Constantly changing technological environment There is a need to consider risk to understand the technical, cost and scheduling risk inherent in a project and to understand and limit their impact
Risk management focuses on the future on the known unknowns and on the unknown unknowns
RM
Risk Management is the raison detre of project management
RM PM
Risk Management pervades all risk areas of project management but some may be delegated to external sources
PM
RM
Corporate culture
Use experts
Clear lines of responsibility and communication Start early, use resources efficiently, ensure awareness of schedule
Two reasons for starting risk management early in the life of a project:
Project approval project approval implies acknowledgement and acceptance of the risks
A simple statement of risks that have been foreseen is useful at the project definition stage
Amount At Stake $