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IT Spec 2 - Project Management (Time and Cost)

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15 views21 pages

IT Spec 2 - Project Management (Time and Cost)

Uploaded by

Keenly Pasion
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Project Time Management

IT Spec 2 – Project Management


What is a Project Time Management?

Set of processes required to manage the timely


completion of a project. It involves planning,
scheduling, monitoring, and controlling all aspects
of a project to meet deadlines effectively.

IT Spec 2 – Project Management


Seven Main Processes

1. Planning schedule management


involves determining the policies,
procedures, and documentation
that will be used for planning,
executing, and controlling the
project schedule. The main output
of this process is a schedule
management plan.

IT Spec 2 – Project Management


Seven Main Processes

2. Defining activities involves identifying


the specific activities that the project team
members and stakeholders must perform
to produce the project deliverables. An
activity or task is an element of work
normally found on the work breakdown
structure (WBS) that has expected
duration, cost, and resource
requirements. The main outputs of this
process are an activity list, activity
attributes, and a milestone list.

IT Spec 2 – Project Management


Seven Main Processes

3. Sequencing activities involves


identifying and documenting the
relationships between project
activities. The main outputs of this
process include project schedule
network diagrams and project
documents updates.

IT Spec 2 – Project Management


Network Diagram (Arrow Diagram Method)

IT Spec 2 – Project Management


Network Diagram (Arrow Diagram Method)

IT Spec 2 – Project Management


Gantt Chart

IT Spec 2 – Project Management


Seven Main Processes

4. Estimating activity resources


involves estimating how many
resources— people, equipment,
and materials—a project team
should use to perform project
activities. The main outputs of this
process are activity resource
requirements, and a resource
breakdown structure

IT Spec 2 – Project Management


Estimate Activity Resources and Durations

Required Estimated
Equipment/Tool Estimated
Activity Human Duration to
s Needed Material Cost
Resources Complete
Requirements 1 Project Manager, Meeting Room, None 2 weeks
Gathering 2 Business Collaboration Tools
Analysts
Design 1 UI/UX Designer, 1 Design software Stock Images 5 weeks
Graphic Designer (e.g., Adobe XD)

Development 2 Frontend Development Code Libraries 12 weeks


Developers, 2 environment
Backend (servers)
Developers
Deployment 1 DevOps Engineer Deployment tools Hosting service 8 weeks
(e.g., Docker) fees

IT Spec 2 – Project Management


Resource Breakdown Structure

Resource Category Resource Type Date Needed

Human Resource Project Manager Project Start Date

Equipment and Tools Testing Tools Week 5

Materials Stock Images Week 3

Financial Resources Budget for Salaries Ongoing

IT Spec 2 – Project Management


Seven Main Processes

5. Estimating activity
durations involves estimating
the number of work periods
that are needed to complete
individual activities. Outputs
include activity duration
estimates and project
documents updates.

IT Spec 2 – Project Management


Seven Main Processes

6. Developing the schedule involves


analyzing activity sequences, activity
resource estimates, and activity
duration estimates to create the
project schedule. Outputs include a
schedule baseline, project schedule,
schedule data, project calendars,
project management plan updates,
and project documents updates.

IT Spec 2 – Project Management


Schedule Baseline

Activity Duration Start Date Finish Date Dependencies

Requirements 2 weeks November 11,2024 November 25, 2024 None


Gathering

UI/UX Design 3 weeks November 26, 2024 December 17, 2024 Requirements
Gathering
Backend 4 weeks November 26, 2024 December 24, 2024 Requirements
Development Gathering

Frontend 4 weeks December 18, 2024 January 15, 2025 UI/UX Design
Development
Integration 2 weeks January 16, 2025 January 30, 2025 Backend and Frontend
Development

IT Spec 2 – Project Management


Seven Main Processes

7. Controlling the schedule involves


controlling and managing changes to
the project schedule. Outputs include
work performance information,
schedule forecasts, change
requests, project management plan
updates, project documents updates,
and organizational process assets
updates.

IT Spec 2 – Project Management


Project Cost Management

IT Spec 2 – Project Management


Four Main Processes

1. Planning cost management involves determining the


policies, procedures, and documentation that will be used for
planning, executing, and controlling project cost. The main
output of this process is a cost management plan.
2. Estimating costs involves developing an approximation or
estimate of the costs of the resources needed to complete a
project. The main outputs of the cost estimating process are
activity cost estimates, basis of estimates, and project
documents updates.

IT Spec 2 – Project Management


Cost Management Plan

Cost Estimation – Basis of Estimation

Cost Budgeting – Direct Cost, Indirect Cost

Cost Control – Change Control Method

IT Spec 2 – Project Management


Cost Estimate

Cost Category Description Estimated Cost

Direct Cost

Labor Cost Salaries for project team P764,320.50


members
Indirect Cost

Overhead General Administrative Expenses P54,120.25

Total <TOTAL AMOUNT>

IT Spec 2 – Project Management


Four Main Processes

3. Determining the budget involves allocating the overall cost


estimate to individual work items to establish a baseline for
measuring performance. The main outputs of the cost budgeting
process are a cost baseline, project funding requirements, and
project document updates.
4. Controlling costs involves controlling changes to the project
budget. The main outputs of the cost control process are work
performance information, cost forecasts, change requests,
project management plan updates, project document updates,
and organizational process asset updates.

IT Spec 2 – Project Management


Cost Baseline

Cost Category Estimated Cost Cost Threshold Variance Threshold

Direct Cost

Labor Cost P764,320.50 P802,536.50 5%

Indirect Cost

Overhead P54,120.25 P59,532.30 10%

Total <TOTAL AMOUNT> <TOTAL AMOUNT>

IT Spec 2 – Project Management

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