1. Mid-term Exam

时长：1h15min
题数：15 questions（90% are multiple choice questions, including calculation）
内容：WEEK4, 6, 7, 8（Organizational Structure, Developing a project, Scheduling resources and costs, Reducing project duration, Progress and performance measurement and evaluation）
复习：Textbook Chapter 3, 6, 8, 9, 13 + Sandra's online videos

2. Reducing project duration

通常项目的constaint集中在三个方面：scope, time, cost。减少项目周期有许多优势，比如降低项目风险，获得提前完成合约的条约好处等。

思考减少项目周期的时候通常有两种情况：resourecs constrained, not constrainted。
（1）not constrained
通过增加投入、外包、早期规划、核心团队建设等方式来减少项目周期。
（2）constrained
通过对critical path的管理，减少项目scope，牺牲一部分产品质量的方式来实现。

项目周期的减少会直接降低indirect costs，增加direct costs。
Direct costs: Costs that are clearly chargeable to a specific work package. 例如材料费、设备费
Direct overhead costs: Costs incurred that are directly tied to an identifiable project deliverable or work package. 例如薪水、租金
Indirect overhead costs: Organisation costs indirectly linked to a specific package that are apportioned to the project. 例如监管费、咨询费
（overhead costs营运开支）

在减少项目周期的过程中，要不断确认critical path，往往项目周期的减少会使得critical path增加，项目的sensitivity增加。
常用术语：
normal time: is the low-cost, realistic, efficient method for completing an activity under normal conditions
crashing: Means shortening an activity
crash time: is the shortest possible time that an activity can realistically be completed in
crash cost: is the direct cost for completing an activity within the crash time
crash point: Represents the maximum time an activity can be compressed/reduced.

Cost-duration graph

通常减少项目周期的时候优先从critical activities，同时兼顾增长的费用最少。也就是说Shorten the critical activities with the smallest increase in cost per unit of time

Activity graph

对上图的activity graph而言，默认cost relationship是linear的，这个图的最大价值在于constant cost per unit of time，也就是图中斜线的slope。

如果cost是客户更加看重的部分，那么可以考虑减少project scope，让客户take more responsibility。

3. Progress and performance measurement and evaluation

对于PM(Project managers)来说，project evaluaiton and control是日常最重要的工作之一。
（1）Data collection
主要收集的数据是cost and schedule，以及潜在问题和对项目未来的预测。
（2）Project control
setting a baseline plan，常用方法是甘特图(Gantt charts)，与WBS时不同的是，project control时所有的甘特图是用进度条来表示的。
-->
measuring progress and performance， 常用方法是project schedule control chart，以reporting period做横轴，time periods做纵轴，评估项目的进度是否符合计划，如下图。
-->
comparing plan against actual -->
taking action

Project schedule control chart

常用术语：
Earned Value(EV): Earned value is a project management technique for measuring project performance and progress. pre-defined “earning rules” (also called metrics) to quantify the accomplishment of work. Earned value is the percent of original budget that has been earned by actual work completed.
Planned Value(PV)/ Budget Cost of Work Scheduled(BCWS): a valuation of planned work. The planned time-phased baseline of the value of the work scheduled. An approved cost estimate of the resources scheduled in a time-phased cumulative baseline.
Actual Cost(AC): Actual cost of the work completed.
Cost Variance(CV): Cost variance is the difference between the earned value and the actual costs for the work completed to date where CV = EV - AC
Schedule Variance(SV): Schedule variance is the difference between the earned value and the baseline to date where SV = EV - PV

Project management process review：
WBS--OBS--Work packages (time, resources, budgets, responsibilities, performance standards)--Plan, shcedule baseline--Control(Time, cost, specifications by deliverables and organisation)

PV: Budgeted cost of the work scheduled
EV: Budgeted cost of the work completed
AC: Actual cost of the work completed

CV = EV - AC: Indicates if the work accomplished using labour and materials costs more or less than was planned at any point in the project
SV = EV - PV: Presents an overall assessment in dollar terms of the progress of all work packages in the project scheduled to date

Cost schedule graph

Performance indexes:
Cost performance index(CPI): Measures the cost efficiency of work accomplished to date. CPI = EV/AC
Scheduling performance index(SPI): Measures scheduling efficiency. SPI = EV/PV
Percent complete index: Indicates how much of the work accomplished is represented by the total budgeted (BAC) and actual (AC) dollars to date. PCIB = EV/BAC; PCIC = AC/EAC

index > 1.00: CPI under cost, SPI ahead of schedule;
index = 1.00: CPI on cost, SPI on schedule;
index < 1.00: CPI over cost, SPI behind schedule

Forecasint model:

Forecasting model