Project Management in PracticeOutline:Evaluation CriteriaProject AuditingTiming of Project AuditsAudit ContentsExample Audit PhasesWhen to Terminate a ProjectProject Termination ProcessTypes of Project TerminationProject Termination ActivitiesProject Final ReportSome Final ThoughtsProject Termination ExerciseProject Management in Practice8-1Evaluating and Terminating the ProjectOutline:8-2 Evaluating Project auditsTermination activities Project final reportEvaluation Criteria1. Senior management issues2. Original criteria for selecting and funding project3. Success to date4. Business/Direct Success5. Future Potential6. Contribution to Organization’s Goals7. Contribution to Team Member Objectives8. Risk8-3Project Auditing8-4Project audits are a formal means of evaluating a project’s performanceThe primary purpose is to give feedback to senior management (and/or the customer) for decision and control purposesA secondary purpose is to improve the way projects are managedTiming of Project Audits8-5An audit early in the project can be helpful to team members, can correct problems early, and can help redirect effortsAn audit late in the project is more for senior management; focus on budget & scheduleA post-project audit can be helpful in improving management of future projects (lessons learned)Audit Contents8-6•Introduction—project goals/objectives•Current Status—budget, schedule, deliverables•Future Project Status—recommend any changes to budget/schedule/approach•Critical Management Issues—need management’s attention•Risk Analysis & Risk Management•Final Comments—caveats, assumptions, limitations, info applicable to other projectsExample Audit Phases8-7Success Criteria &Questionnaire DevelopmentSuccess Criteria &Questionnaire DevelopmentIn-DepthResearchIn-DepthResearchReport DevelopmentReport DevelopmentWhen to Terminate a Project8-8When the project has met its goals/objectivesAs soon as it is clear that technical or commercial failure is imminent (examples ?)If resources are needed elsewhereOther reasons?Project Termination Process8-9Who should make the termination decision?Who should carry out the termination activities?What happens to project team members after the termination decision is made?Types of Project Termination8-10Extinction: Stop the project immediatelyIntegration: Project results are integrated into the existing organizational unitsAddition: Project is institutionalized as a new part of the organization (new product line or new division)Starvation: Gradually reduce resources so that project dies slowly but surely (it fades out of sight)Project Termination Activities8-11Close out any work ordersEnsure that any project follow-up support is provided for (training, maintenance, etc.)Get delivery acceptance from customerRelease resources to other usesReassign project team membersOversee customer/contractor financial paymentsEnsure that documentation is completeEvaluate project team and project managerProject Final Report8-12History of the projectUsually written by PMIt should address:–project performance–administrative performance–organizational structure–project teamwork–project management techniquesSome Final Thoughts8-13Project managers who are effective canImprove the likelihood of project successSave their company moneyComplete the project fasterFacilitate a more satisfying experience for the customerReduce stress levels within the companyBetter contribute to the professional development of team members and to their own professional worthProject Termination Exercise8-14BestTech ComLink case (25 minutes)Divide into small groupsRead caseDiscuss issues and answer 2 questions:–Should the project have been terminated? When?–What should the company do differently so that this situation does not happen
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