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technology management & innovation

technology management & innovation. introduction to project management (iii) reviewing & operating projects. project reviews. how to critically review and track projects. Project Appraisal. pre-start review is the objective clear? do the deliverables satisfy the objective?

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technology management & innovation

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  1. technology management & innovation introduction to project management (iii) reviewing & operating projects tm&i 2010

  2. project reviews how to critically review and track projects tm&i 2010

  3. Project Appraisal • pre-start review • is the objective clear? • do the deliverables satisfy the objective? • will the activities in the task list produce the deliverables? • always ask: does the client really understand what they’re getting! • are the resources and finances adequate for the project to succeed? • periodic progress reviews • is the project running on time? • is the project running on budget? • today we’ll look at ways of tracking both progress & budget • problems arising, and how to fix them. tm&i 2010

  4. project costing & finances tm&i 2010

  5. TASK LIST DELIVERABLES OBJECTIVE RESOURCE Project Planning project costing TIMING BUDGET BUDGET & RESOURCE ALLOCATION tm&i 2010

  6. Project Culture TIME project MONEY RESOURCES tm&i 2010

  7. Project Finance • which project resources require money? • team members ($/month) • equipment (purchase + consumables + maintainance) • materials & expenses (travel, reagents, consumables) • sub-contractors • what other (hidden) costs might be charged to a project? • factory/office overheads (water, gas, electricity, rent) tm&i 2010

  8. tm&i 2010

  9. Project Planning example project cash flow table tm&i 2010

  10. the cash flow table should include all anticipated project costs • team • capital equipment • materials and expenses • contractors fees • allowable overheads • etc tm&i 2010

  11. Project Planning projected monthly c/f balance months tm&i 2010

  12. the closing/final balance at month’s end can be used to plot a graph of projected cash flow for the whole project life so what? tm&i 2010

  13. projected actual compare actual cash flow with projected tm&i 2010

  14. tracking actual cash flow with projected cash flow provides early warning of possible troubles with the project tm&i 2010

  15. tracking time progress against the project plan • are we on schedule? • how do we find out? tm&i 2010

  16. tm&i 2010

  17. Project Management tracking Gantt • estimate the % completion of each task by marks on the Gantt bars (if using a paper copy) • or use tracking Gantt in MS-Project • draw a line through these points (shown in red) • compare actual progress (red line) with your expected progress (green line = current date) • indicates if project is behind, on, or ahead of schedule tm&i 2010

  18. summary • project resources “burn” money! • estimate project cash flow using tables • plot the projected closing / final balance vs time • compare with actual spend to see if the project is under, on, or over- budget • estimate & mark % task completion on the tracking Gantt chart • is the project behind, on, or ahead of schedule? • take appropriate ACTION! tm&i 2010

  19. TIME MONEY RESOURCES tm&i 2010

  20. homework task reading assignment Week 8 tm&i 2010 VI.20

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