Project Management 2

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Project Schedule
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an output of a schedule model that presents linked activities with planned dates, durations, milestones, and resources.
The project schedule includes
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a planned start date and planned finish date for each activity
Milestones
difference to schedule activities
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are similar to regular schedule activities, with the same structure and attributes, but they have zero duration because milestones represent a moment in time
a stakeholder
interesariusz
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someone who lives in the area of project but doesn't know about it is also a stakeholder, it's the team's job to inform them about it, eg. a client/ sponsor, might be interested in a success or not
direct cost
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directly connected to the project, eg. rent of the conference room, experts accomodation
indirect costs
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operational stuff, organization, rent for office
contribution
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financial/ no financial eg. People, equipment, materials, etc.
Calculation - possible mistakes, failures
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Time pressure, Internal/external pressure, Limited information, Optimism vs pessimism, Cost volatility over time, Risk, Errors, Limited participation in the budgeting process, No documentation, No checklists, No actualisation
How can we measure project profitability?
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payback period, discounted payback period, break-even point, net profit value, internal rate return, profitability index, ROI return on investment
Risk
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an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives such as scope, schedule, cost, and quality
Process = step-by-step check-list
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Identify risks, Evaluate probability, Evaluate impact, Document, Define action plan and/or contingency plan, Manage actions, Evaluate results, Repeat at weekly project meetings
Risk reactions
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AVOID: eliminate threat by eliminating the cause, TRANSFER: shift responsibility to third party, MITIGATE: reduce probability and/or impact, ACCEPT: accept and create contingency reserves
Risk Management Actions
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Preventative actions, Corrective actions
Risk appetite
Risk proximity
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which is the degree of uncertainty an entity is willing to take on in anticipation of a reward.
Risk tolerance
Risk proximity
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which is the degree, amount, or volume of risk that an organization or individual will withstand.
Risk threshold
Risk proximity
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which refers to measures along the level of uncertainty or the level of impact at which a stakeholder may have a specific interest. Below that risk threshold, the organization will accept the risk.
individuallism vs collecitivism
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Individualism stresses individual goals and the rights of the individual person. Collectivism focuses on group goals, what is best for the collective group
individuallism = USA collecitivism = Russia, China
Individualism - everyone takes care of himself, speaking one's mind is healthy. Collectivism -people are born to families which protects them in exchange to loyalty
power distance
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refers to the relationship between those in power and the subordinates in a society where lower ranking individuals depending on the high or low power distance culture react to that authority
small distance - USA, large distance - Russia, China
Small - consultation with subrdianates, student centered education, rare corruption, even distibution of income in society. Large - Hierarchy, frequent corruption
Feminity/ Masculinity
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diversity of gender roles
Feminine -Russia, Masculine - USA, China
feminity - minimum social and emotional difference btw the genders, masculinity - admiration for the strong, boys should fight, grils shouldn't
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is how cultures differ on the amount of tolerance they have
WEAK avoidance - USA, strong - Russia
weak uncertainty avoidance - low stress, self control, health and well being. Strong uncertainty avoidance - high stress, what is different is dangerous,
Indulgence vs restrained
wyrozumiałość a powściągliwość
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Indulgence stands for a society that allows gratification of basic and natural human drives related to enjoying life and having fun. Restraint - society that suppresses gratification of needs and regulates it by means of strict social norms
indulgent - America, Restreined - Russia, China
Indulgence - people are happy, freedom of speech. Restrained - fewer happy poeople, freedom of speech is not important
High Context of culture
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Japan, Korea, China,
Low Context of culture
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Germany, France, America

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