Project Management III: Advanced Project Management

This 2-day advanced project management workshop presents cutting edge tools to build an effective business case, develop a realistic schedule and budget, and successfully execute a project. You will review principles behind the tools and then focus on their application to real world projects. You will learn advanced techniques applicable to each stage of the project life cycle, including initiation, planning, execution, and control. You will apply the tools you have learned to case study examples that simulate real projects.

Learning Objectives

• Develop a “Project Business Plan.”
• Estimate value with the discounted cash flow method.
• Apply decision techniques for project go/no-go decisions.
• Value projects based on “flexibility” and contingent decisions using real options analysis.
• Quantify project intangibles with weighted scoring models.
• Use simulation methods to estimate variables that exhibits uncertainty.
• Apply tornado diagrams and sensitivity techniques to identify the most influencing input parameters.
• Assess risk and opportunity.
• Estimate project schedule with network diagrams and critical path method.
• Use the critical chain project management method to reduce costs and accelerate product development cycles.
• Learn how to overcome obstacles and compress project schedules.
• Estimate the probability of completing a project within a specified time period and budget.
• Establish accounting systems for easy and effective cost management.
• Use the Earned Value Management technique to track, control, and manage costs.
• Apply effective techniques to adjust current plans by forecasting future resource and budget needs.
• Analyze and quantify cost and schedule variances for appropriate corrective action.

Course Agenda

1. Agenda, objectives, and format
2. Define project, program, project portfolio
3. Apply end-to-end project life cycle: Funnels & Filters Ò model
4. Identify project life cycle phases
5. Discuss project initiation
6. Build a business case
7. Present value
8. Learn the discounted cash flow (DCF) method, Monte Carlo simulation, decision tree analysis (DTA) and real options analysis (ROA).
9. Assess risk vs. opportunity.
10. Utilize weighted scoring models
11. Practice project planning
12. Apply the work breakdown structure (WBS)  
13. Schedule resource and time constraints
14. Estimate task duration
15. Practice network diagrams
16. Utilize the critical path method, scheduling tools, and cost estimation methods
17. Plan budget contingencies
18. Use stimulation tools for schedule and cost estimation
19. Apply the project performance measurement baseline (PMB)
20. Manage change
21. Apply Earned Value Management (EVM) basics.
22. Use EVM building blocks.
23. Learn how to calculate earned value.
24. Apply schedule and cost variances and performance indices.
25. Assess project variance.
26. Evaluate performance using EVM.
27. Forecast future budget and schedule needs.
28. Close-out projects with the project control book.
29. Identify lessons learned.
30. Close out contract and administration.