COMMERCE 4KF3 Lecture Notes - Indirect Costs, Work Breakdown Structure, Project Management Body Of Knowledge
Document Summary
Unconstrained resources: adding resources, outsourcing, overtime, core project team, do it twice. Constrained resources: fast-tracking, critical-chain, reduce scope, compromise quality. Some contracts have penalties for late delivery. Other projects have bonuses for early completion. Terminology: all normal a project schedule in which all durations and costs are at the normal rates, all crash a project schedule in which all durations are at their lowest durations. Time to market: business survival depends on adaptability. When unforeseen delays cause substantial problems: costs of getting back on track vs. being late. Incentive contract can make reduction of project time rewarding. When it is important to reassign key equipment and/or people to new projects. Adding resources: most common method, limited not necessarily a direct correlation between resources and speed. Outsourcing project work: subcontracting an activity to a contractor who may have superior knowledge or abilities. Scheduling overtime: easiest, disadvantages include added fees for hourly overtime charges, productivity losses, organizational concerns, etc.
