■ 2.11 Given a project scope, timeline, cost, project team, and dependencies, demonstrate the ability to:
o Create and manage a high level (top-down) budget based on assumptions / estimates o Identify and budget the level, cost, and duration of resources and dependencies (internal and external) o Create and manage a detailed bottom-up budget, containing actual / scheduled expenses o Identify, implement, and budget all project trade-offs, while understanding the implications and impacts of the trade-offs o Install and maintain systems for tracking budgetary expenses against the plan based on the existing enterprise systems
■ 2.12 Identify and list the components needed to generate a workable project schedule.
■ Pemonstrate the ability to create appropriate project schedules which meet the approved project start and finish dates, given the following information:
o A detailed list of project deliverables (both interim and finished) o A detailed estimate of project tasks o A list of activities and phases o A detailed estimate of the time and resources required to complete all project tasks o Information about the preferences of the project team regarding schedule formats
■ 2.18 Recognize and explain the issues that must be considered in creating a project cost estimate (time, effort), including: o Project scope o Various levels o Task requirements o Resource skill levels o Resource availability o Resource expense o The need to target elapsed time to reconcile the original budget allocation
■ 2.19 Recognize and explain the issues that must be considered in creating a project time estimate, including: o Project scope o Various levels o Task requirements o Resource skill levels o Resource availability o Resource expense o The need to reconcile with the original elapsed time estimation
■ 2.20 Recognize and explain the issues that must be considered in creating an effort estimation (man hours, FTEs), including:
o Project scope o Various levels o Task requirements o Resource skill levels o Resource availability o Resource expense o The need to reconcile with the original staffing allocation ■ 2.21 Given a scenario involving project information, including timing, demonstrate the ability to clearly identify what needs to be communicated during a project, to whom, when, how, (formal, informal), without creating unnecessary turmoil in the project team, in situations such as: o Schedule changes o Resource loss o Personality clashes o Budget changes o Low morale o Organizational changes o Project phase completion
Once the project plan is finished, you begin executing it. In the execution stages of a project, a project manager' s job changes from developing support documentation that gives structure to the project, to managing the people that create the deliverables and the budget that funds them. Everything in this chapter talks about execution, control, and management.
Your project is ramping up, and things are getting underway. Now you have to go into real PM mode and manage all of the reins that make this creature go. In this chapter, we' l l talk about the project' s budget, schedules, and estimates, and about maintaining communication as the project goes forward.
In the IPECC world, we ' d say that we' re fully engaged in the executing and controlling phases. Executing means that we' re actually going forward with the project; controlling means that we ' re managing the way that the project tasks are being done as well as communication, schedules, and other items that fit into the project such as the budget.
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