PJM5900 70573 Foundations of Project Mgt SEC 23
Description
Overview
In Individual Assignment 4(Lab 3),you will build on the work completed in Lab 2 to develop a comprehensive Performance Measurement Baseline(PMB)for your project.This lab will involve refining your project plan by finalizing the scope,schedule,and cost baselines.You will ensure that all project activities are accurately defined and resourced,integrate any changes,and establish baselines that will serve as reference points for monitoring and controlling project performance. This exercise is crucial for preparing you to manage real-world projects effectively,as it emphasizes the importance of baseline planning in achieving project success.
Instructions
1. Implement Revisions:
■ Make all revisions suggested from the review of your previous lab submission.Do not re-submit your fle with the same mistakes,as this will affect your score.(2 points)
2. Create a Resource Pool:
■ Use the Resource Sheet in Microsoft Project to
create a resource pool.Include all resources needed for your project activities.If the Max-Units value is other than 100%,add a resource note to explain your scheme.(5 points)
3. Assign Resource Rates:
■ Assign astandard rate for each resource.Enter an overtime rate if applicable.This allows Microsoft Project to calculate resource and activity costs.(2 points)
4. Assign Resources to Activities:
■ Assign resources to all project activities that
require them.Note that resources should not be added to summary tasks or milestones.(5 points)
5. Maintain Activity Durations:
■ Ensure that activity durations remain unchanged unless intentional.Review your Project Statistics before and after resource assignments to document any changes in project duration. Add a task note in Task Zero to share your observation.(1 point)
6. Resolve Overallocations:
■ Review your resource allocation and resolve any overallocations.If an overallocation is reasonable and should not be leveled,add aresource note explaining why.(3 points)
7. Apply Cost Table and Add Contingency Reserve:
■ Switch to the Gantt Chart view and apply the Cost table.Calculate 10%of the total project cost and add it as a contingency reserve.Enter a note in Task Zero indicating the total project cost.(4 points)
8. Save a Baseline:
■ If satisfied with your project plan,save a baseline, ensuring the contingency reserve is included.This baseline will serve as a basis for evaluating your project performance.(2 points)
9. Mark Initiating and Planning Activities Complete:
■ Mark all your initiating and planning activities as 100%complete.(2 points)
10. Set Status Date and Mark Executing Tasks:
■ Set the status date of your project to the midpoint since the project start.Select all executing tasks and mark them on track.(2 points)
11. Review Tracking Table:
■ Open the Tracking table and review the percentage complete for tasks with progress.
12. Enter Actual Start/Finish Dates:
■ Using the Tracking table with a split-screen view, enter Actual Start and Actual Finish dates that
differ from planned dates for at least five tasks.Do not change baseline values.(3 points)
13. Enter Actual Durations:
■ Enter Actual Durations that differ from planned durations for at least three tasks.Add a task note explaining why the duration changed for at least one task.(3 points)
14. Analyze Project Variance and Predict Project Outcome:
■ View the Project Statistics to analyze variance from the original baseline.Use the Earned Value table to examine the variance at completion(VAC) indicator.
■ Based on your variance analysis,predict the
project's outcome in terms of schedule and cost variances.Provide your forecasts in the submission area in Canvas.(4 points)
15. Save in Resource Usage View:
■ Display the Resource Usage view and save your fle so that it automatically opens in that view.(2 points)
Important Notes:
■ Your project file should include at least 50 lines of deliverables,work packages,and activities.
■ Planning is an iterative process;you can revise your plan as more information becomes available.
■ Your project activities must be original.Do not copy information from other sources.Non-original assignments will receive azero score.
■ Review the attached fle for structuring your deliverables,work packages,and activities.
■ This assignment tests your understanding of
project deliverables and activities. Do not enter information beyond what is required(e.g.,activity duration or resources).The schedule and budget will be completed progressively.
■ Microsoft Project Training Resources are available in Canvas>Modules>Microsoft Project
Resources.