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)
- 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)
- Chapters 6 & 13 in Fundamentals of Project Management (5th ed.)
- Senaratne, S., & Samaraweera, A. (2015). Construction project leadership across the team development process. Built Environment Project and Asset Management, 5(1), 69-88.
- Petter, S., & Carter, M. (2017). In a league of their own: Exploring the impacts of shared work history for distributed online project teams. Project Management Journal, 48(1), 65-80.
- Project Management Institute. (2018). Certification types. Retrieved from https://www.pmi.org/certifications/types
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.
Reading everything assigned and designated on the simulation.
Adding too much to the budget in the simulation.
As it pertains to the writing assignments, adding the APA formats appropriately.
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.
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…
PJM 330: Effective Project Scheduling and Control
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:
- 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
- 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.
Kerzner, H. (2017). Project Management: A systems approach to planning, scheduling, and controlling (12th ed.). Hoboken, NJ: Wiley
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