Project Cost Management
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Planned Value - Earned Value = Net Gain /Loss.
There are ' cumulative value' and ' current value' for any project.
AC = Actual Cost. There are current cost and cumulative cost.
Unless they specify, it's cumulative cost.
Some words and acronyms used in project management.
SV = Schedule Variance = PV - EV. Planned Value - Earned Value.
CV = Cost Variance EV - AC.
SPI = Schedule Performance Index = EV / PV.
CPI = Cost Performance Index = EV / AC .
CSI = SPI/CPI.
CSI = Cost Schedule Index.
EAC = Estimated Completion.
EAC = BPC / CPI.
ETC = Estimate to Complete.
BAC = Cost Baseline. = always in S curve.
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PROJECT QUALITY MANAGEMENT
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What is quality?
Quality is - meeting the specifications ( according to management).
From customer perspective : Satisfaction, utility value and fit to use.
Quality always comes with a cost. Cost of conformance.
Cost of non-conformance is failure.
There are 3 quality guru s.
1. Phillip Crosby. 14 quality principles.
2. Joseph Disn. 3 quality principles.
3. Deming.
" Baseline is the snap shot of the present scenario".
Net Search : ' Tools and Techniques' for program quality control.
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CONFLICT MANAGEMENT
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Here are the responses to conflict
1. Problem solving or confrontation.
2.Compromise.
3.Forcing.
4.Collaboration.
5.Smoothing.
6.Withdrawal.
POST LUNCH ( OB related topics)
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In a communication network, number of communication channels = n*(n-1)/2.
Communiation skills
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Communication process.
Encode-> channel -> message -> decode -> medium -> noise -> decode.
The other 2 sessions. Project Risk management & Ethics in project management.
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