PJM330 MOD8 discussion post Peer Responses 200 words

I’m studying for my Management class and don’t understand how to answer this. Can you help me study?

Please reply to both post 1 and post 2 in at least 200 words each. (These are peer responses)

Required

  • Chapters 5, 6, & 9 in Project Management: A Systems Approach to Planning, Scheduling, and Controlling
  • Part 1: Chapters 9, 10, & 13 in A Guide to the Project Management Body of Knowledge (PMBOK® Guide)

Recommended

POST 1:

Discussion Module 8

According to (Kerzner & D., n.d.) we can learn a lesson from every project we encounter. Some do not want to document mistakes because they will have to own up to them therefore everyone keeps making the same mistake. By learning from our mistakes helps us to better capture what our organizations best practices are. (Kerzner & D., n.d.) Some companies do this at the end of the project, but this can be done throughout the life of the project.

Below is a lesson learned report as it pertains to what I learned in this course.

Type

Description

Top Successes:

Reading everything assigned and designated on the simulation.

Top failures:

Adding too much to the budget in the simulation.

As it pertains to the writing assignments, adding the APA formats appropriately.

Lessons Learned:

Do not over budget.

Adding APA formats appropriately

Strategies for Addressing Failures Other Areas needing Improvement

Go back and re-read and study chapters pertaining to Earned Value, Actual Costs and Planned Value. This will allow me to better understand the value of how to budget the projects.

Take the time to review your formats before turning in your assignment.

  • Amy

Reference

Kerzner, H., & D., Ph. (n.d.). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. Retrieved from https://platform.virdocs.com/r/s/0/doc/504500/sp/2…

POST 2:

PJM 330: Effective Project Scheduling and Control

MaryBeth Dunlap

Discussion Board – Module 8

November 25, 2019

According to Kerzner (2017), organizations can and should learn lessons from every project. However, many organizations and their employees are reluctant to document the mistakes and missteps that occur in projects. Instead, organizations want to emphasize their successes and breakthroughs. These organizations are missing out on the chance to learn from their mistakes (Kerzner, 2017).

The following is my lesson learned report:

Top Successes

  • Viewed all simulation scenes
  • Correctly answered 39 out of 40 questions/decisions
  • Read all documentation and emails
  • Launched the project on 1 July
  • Minimized budget approval requests

Top Failures

  • Incorrectly answered the Vendor Contract Type question in lesson four

-correct: Time & Materials (PMBOK 12.1.1)

–Time & Materials: “hybrid contracts with aspects of both cost-reimbursable and fixed-price contracts (p. 472 PMBOK)

-my choice: Fixed Price

–Fixed Price: set prices and required materials; contract requirements

Strategies for Addressing Failures

  • Vendor contracts – research PMBOK vs go with initial instinct

Other Areas that Need Improvement

  • % of Budget Used: My total planned budget was $515,278, exceeding the given $500,000 budget. I had to request a budget approval. I, due to my inexperience as a PM, incorrectly asked for $520,000 instead of $515,000. In lesson 6, I was on track to use approximately 94% of my approved budget. However, due to a technical glitch in the simulation, I had to reset my baseline. To do so, I had to reconfigure my reserves to reduce my total planned budget. At the end of the simulation, I had used the 98% of my total budget and earned a perfect score in the % of Budget Used area.

Reference

Kerzner, H. (2017). Project Management: A systems approach to planning, scheduling, and controlling (12th ed.). Hoboken, NJ: Wiley

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