Project Management Level II

The Project Team

Team Development

• Assembling a Team
• Project Kickoff Meeting
• Characteristics of Effective Teams
• Barriers to Teams

Stages of Team Development

• Stage 1: Forming
• Stage 2: Storming
• Stage 3: Norming
• Stage 4: Performing

Budgets & Costs

Types of Costs

• Resource cost rates
• Reserve analysis
• Contingency budget
• Cost of quality

Determining Activity Costs

• Estimate Activity Costs

Determining Project Budget

• Calculations
• Total Budgeted Cost (TBC)
• Time-Phased Budget
• Cumulative Budgeted Cost (CBC)

The Execution Phase

Determining Actual Costs

• Determine Actual Cost
• Compare Actual Cost to Budgeted Cost
• Actual Accumulated Cost by Period
• Cumulative Budgeted & Actual Cost Curve

Determining the Value of Work Performed

• Determine Value of Work Performed
• Earned Value (EV)
• Cumulative Earned Value

Cost Performance & Project Status

• Analyze Cost Performance
• Measure Project Status

Cost Analysis

• Analyze Cost Performance
• Cost Performance Index (CPI)
• Cost Variance (CV)
• Estimating the Cost at Completion
• Forecasted Cost at Completion (FCAC)

Controlling Costs & Corrective Action

• Cost Control Steps
• When to Take Corrective Action

Limited Resources: Leveling & Smoothing

Resource Leveling

Resource Limited Scheduling

Risk Management

Risks & Issues

• Identify Risks
• Risk Assessment
• Probability & Impact Matrix
• Risk Appetite

Common Types of Risks

• External Risks
• Single Point of Failure

Risk Mitigation

• Common Ways of Dealing With Risk