PTM CampusLectureNotes Week3 PDF

REAL-WORLD EDUCATION
Lester
Frederick, Ed.D.
Course Director | Graduate Studies
Project & Team Management
t 407.679.0100 x1984
e lfrederick@fullsail.com
Full Sail University
https://www.facebook.com/ITPILLC
Agenda
Conflict Resolution
Conflict Resolution Assessment
Play the Guessing Game
Break
Q&A
Full Sail University | Project and Team Management (PTM)

What does a (Project) Manager do?
Plan
Lead
Organize
Monitor

The 5 Project Management Process Groups are:
W1. Defining - the project

W2. Planning - the project
W3. Executing - the plan
W4. Monitoring - the plan
W4. Closing - the project
(Verzuh, 2016)

WBS / Gantt Template

Conflict Resolution
http://www.kilmanndiagnostics.com/overview-thomas-kilmann-conflict-mode-instrument-tki

Conflict Resolution:
Discussion 3
Learning Objective:
Students will construct a standard conflict resolution policy

that focuses on maintaining and restoring cohesive
team relationships.

Conflict Resolution:
Discussion 3
Learning Outcome:
Successful students will be able to use conflict resolution

policies to repair team tension and restore unity.

Disc. 3: Required Resources
Read Chapters 13 (from Collaborative

Problem Solving to End Point) in Eric Verzuhs eBook,
The Fast Forward MBA in Project Management
(Safari Books Online/Creative Edge).

Instructions
Personal Work:
1. Write a standard conflict resolution policy that you will use

when youre leading a team and managing a project.
Your policy should include:

At least 5 sequential steps that allow conflict

to be addressed privately first, followed by guidelines
for enlisting help from others if necessary.
A positive process that focuses on restoring relationships.
In other words, the policy shouldnt focus on unnecessary punishment.
A chance for the people involved to express their emotions about
the issue without being accused.
Wording that doesnt promote shifting blame on others.

Instructions Continued
Your policy should be flexible and transferable enough
to be used with practically any team and industry.
Write your policy as if you already have a team
that youre going to share the policy with.
According to Verzuh (2016), Conflict Management
is not just for project leaders;
it is a _________________________________ skill.
Cite at least 1 source that support your policy

Instructions Continued
Team Work:
What tips can you provide to your classmates to improve their policies?
Have fun while getting it done!

Agenda
Risk Management
Budgeting
Crowdfunding
Project Pitch Plan
Q&A

WBS / Gantt Template

Risk Management
Definition
Risk is any unexpected event

that can affect your project
(Wrike, n.d.)

Risk Management
Definition
Risk management is the means
by which uncertainty
is systematically managed
to increase the likelihood
of meeting project objectives
(Wrike, n.d.)

Risk Management
Project management risks can be broken down into five elements:
1. Risk event:What might happen to affect your project?
(Wrike, n.d.)

Risk Management

2. Risk timeframe:When is it likely to happen?
(Wrike, n.d.)

Risk Management

3. Probability:Whats are the chances of it happening?
(Wrike, n.d.)

Risk Management

4. Impact:Whats the expected outcome?
(Wrike, n.d.)

Risk Management

4. Impact:Whats the expected outcome?
5. Factors:What events might forewarn or trigger the risk event?
(Wrike, n.d.)

Risk Management:
Assignment 3a
Learning Objective:
Students will create a Risk Management Plan

for their Project Management (PM) Plan.

Risk Management:
Assignment 3a
Learning Outcome:
Successful students will be able to create applicable

Risk Management Plans to manage the risks
in current and future projects.

Assign. 3a: Required Resources
Read Chapter 7 in Eric Verzuhs eBook,


Assign. 3a: Recommended Resources
Full Sails Library
Supplemental Safari Books Online PM list: http://bit.ly/2iIrXu4
Project Management Institute: http://www.pmi.org/
The Project Management Hut: https://pmhut.com/
Celebrity Apprentice: analyze the team dynamics
and project management strategies
Shark Tank: analyze the pitches and the key questions from the sharks
The Profit: analyze Lemoniss negotiation skills
and his People/Process/Product principle

Risk Management:
Assignment 3a
Note: Risk Management is Part I
and Budgeting is Part II of Assignment 3. Do Part I first.
Then, create your Budget in light of your Risk Management Plan.

For example, the risk of bad weather might damage
your electronic equipment. Therefore, your Budget
should be adjusted with a financial contingency plan
in case you have to repair or replace the equipment.

Risk Management:
Assignment 3a
Note: Risk Management is Part I
and Budgeting is Part II of Assignment 3. Do Part I first.
Then, create your Budget in light of your Risk Management Plan.

For example, the risk of bad weather might damage
your electronic equipment. Therefore, your Budget
should be adjusted with a financial contingency plan
in case you have to repair or replace the equipment.

Risk Management Instructions
1. Remember that your project and your PM Plan
are a mix of reality and pretending.
2. Review the instructions in the Risk Management_W3a Template
and fill it out.
3. At least 2 total APA citations and matching references are required.
Include at least 1 APA citation to briefly explain and justify your reason
for listing 1 risk and 1 citation for listing 1 consequence.
4. Submit your Budgeting spreadsheet and References spreadsheet
along with your Risk Management spreadsheet as one file.
5. Add your previous references from Assignments 1 and 2
to your current References page

6. Please dont send a zip file if it isnt necessary.
7. Follow the guidelines as outlined in the Rubric.
8. Complete this assignment by referring to these instructions
and the instructions in the Risk Management template in FSO downloads.
9. The due date is Sunday,11:59PM,Eastern
10. The files naming convention is:
YourLastName_CourseCode_AssignmentName_MonthYear

For example: Frederick_PTM_RiskManagementAndBudgeting_012017

(Template)
Briefly list the top potential 10 risk events and the mitigation
or contingency plans to respond to the risk.
List the risks in order of their severity.
Your list should be a mix of potential risks to your Tasks,
Activities, Stakeholders, Resources (from WBS list), etc.
State the Timeframe and Impact for each risk event.
Identify your plans for overcoming the risk.
Plan A is everything you would do to prevent the risk from happening
Plan B is the action you would take to lessen the impact of the risk.
Plan C is how you would respond when the risk has escalated so much
that you have to stop your project (worst-case scenario).

(Template)
Consider the following questions:
What can affect your project?

What's the likelihood of it happening
What type of damage can be done?
How will you know that a risk is coming?
How will you manage the risks?
Delete the text in this column
and include your citation information here.

Grading Criteria
All Risk Management sections & 10 risks completed in order of severity (40)
All Prompt Points & Questions Addressed (30)
2 Relevant APA Citations and References (20)
Creative and Logical Writing Skills (10)

Note: your Risk Management grade (Part I) and your Budgeting grade (Part II)
will be added together and divided by 2 to generate one final grade
for weeks 3a & 3b Assignment.

Budgeting
Definition
Abudgetis a plan
for allocating resources
(Meredith & Mantel, 2011)

Budgeting
Definition
A budget is an itemized estimation

of expenses and income (or revenue)
over a period of time

Budgeting
Your projects budget outlines direct costs,

provides a total for the entire project,
shows a payment schedule,
and indicates how you will generate revenue.

Budgeting
Direct costs are expenses

associated only with your project
and include things like:
labor, materials, equipment, travel, marketing, etc.

Budgeting
Indirect costs (operating costs)
are not directly connected to your project.
They are things like training,
office space rental (if you have a company),
employee benefits (health care, vacation, etc.)

Budgeting: Assignment 3b
Learning Objective:
Students will construct a Budget

for their Project Management (PM) Plan
thats in alignment with their Work Breakdown Structure
and their Risk Management Plan

Budgeting: Assignment 3b
Learning Outcome:
Successful students will be able to

create relevant Budgets
for current and future
Project Management (PM) Plans

Assign. 3b: Required Resources
Read Chapter 11 in Eric Verzuhs eBook,


Assign. 3b: Recommended Resources
Celebrity Apprentice: analyze the team dynamics
and project management strategies
Shark Tank: analyze the pitches
and the key questions from the sharks
The Profit: analyze Lemoniss negotiation skills
and his People/Process/Product principle
CheatSheet: Money and Career
Dave Ramsey: Budgeting
Clark Howard: Money Management
The Motley Fool: Investing and Money Management

Budgeting Instructions
Your Budget will mainly be created in view of your Work Breakdown Structure
and your Risk Management Plan.
For this assignment, there are two ways to create a budget for your project:
1. You can start with a total amount to spend (real or fictional),

which then must be distributed across all of the costs
associated with your project (or)

2. You can decide on the best resources for your project,
find out how much they cost,
and then come up with a total cost for your project.

Your Budget will mainly be created in view of your Work Breakdown Structure
and your Risk Management Plan.
For this assignment, there are two ways to create a budget for your project:
1. You can start with a total amount to spend (real or fictional),

which then must be distributed across all of the costs
associated with your project (or)

2. You can decide on the best resources for your project,
find out how much they cost,
and then come up with a total cost for your project.

Review the instructions in the Budgeting_W3b Template and fill it out.

At least 4 total APA citations and matching references are required.
One citation each is required for any Item (Resource), Teammate/
Stakeholder, Payment Schedule, and Direct Cost.
Complete this assignment by referring to these instructions
and the instructions in the Risk Management template in FSO downloads.

(Template)
List your required Items (Resources) in the first column.
Then make a list of your Teammates and/or external Stakeholders
and their positions or roles.
The minimum amount of combined Items (Resources)
and Teammates/Stakeholders is 25.
Preferably, but not necessarily, your project
should be able to be completed with 3-5 teammates.
Most items (resources) will be related to the Tasks, Activities, and
Resources from your Work Breakdown Structure (WBS)
Remember that resources [items] consist of necessary
labor, equipment, and materials to complete a project (Verzuh, 2016)

(Template)
List the Quantity for each Item (Resource) and Teammates/Stakeholder.
The Description briefly explains what the Item (Resource)
and the Teammates/Stakeholders are doing.
The Payment Schedule is the one-time cost or reoccurring cost.
Direct Cost is the total cost for each Item (Resource)
and Teammates/Stakeholder.
It isn't required to complete the Indirect Costs.
Refer to your Risk Management Plan to decide what to include
in the Cost Contingency column.
Revenue Forecast is your anticipated Income, if any,
from your product or your service.
Calculate the total amount.

(Template)
Consider the following questions:
What major and minor Direct Costs are associated

with your project?
How can you justify your budget to all your stakeholders?

(Template)
Sample Payment Schedule Citation:
According to an IGDA article, the cost to hire a freelance concept artist

varies widely and it's customary to negotiate to pay them a portion
at a time until the assigned task is complete (Roberts, 2017).

Grading Criteria
All Budgeting sections and 25 Items & Teammates/Stakeholders completed
All Prompt Points & Questions Addressed (30)
4 Relevant APA Citations and References (20)
Creative and Logical Writing Skills (10)
Note: your Risk Management grade (Part I) and your Budgeting grade (Part II)
will be added together and divided by 2
to generate one final grade for weeks 3a & 3b Assignment

Crowdfunding

Project Pitch Plan
This week, consider and complete the following:
1. Construct a Project Pitch Outline, Flowchart, or Mind Map

while considering how you will engage your audiences
mind, emotions, and behavior.

Project Pitch Plan
1. Construct a Project Pitch Outline, Flowchart, or Mind Map

while considering how you will engage your audiences mind,
emotions, and behavior.
2. Generally, facts, numbers, and citations can satisfy the mind.

An intriguing story and high quality images can satisfy the
emotions. A convincing presentation delivery and a
worthwhile project can affect your audiences behavior.

Project Pitch Plan
Determine the seamless flow of your ideas

(beginning, middle, and end of your pitch story)
Think of how you will effectively present your project to
your target audience in a story form
Review the Project Pitch Presentation Instructions doc in
Week 4. Use this doc to create your Outline, Flowchart, or
Mind Map to provide structure to build your presentation.

Project Pitch Plan
Note: The Project Pitch Presentation assignment (week 4)

will be opened early this week (usually by Wednesday).
That way you can review all of the instructions to get a full
picture of what's required for your Project Pitch.


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REAL-WORLD EDUCATION

Conflict Resolution Assessment

Play the Guessing Game

Full Sail University | Project and Team Management (PTM)

Full Sail University | Project and Team Management (PTM)

W1. Defining - the project

Full Sail University | Project and Team Management (PTM)

Full Sail University | Project and Team Management (PTM)

Full Sail University | Project and Team Management (PTM)

Students will construct a standard conflict resolution policy

Full Sail University | Project and Team Management (PTM)

Successful students will be able to use conflict resolution

Full Sail University | Project and Team Management (PTM)

Read Chapters 13 (from Collaborative

Full Sail University | Project and Team Management (PTM)

1. Write a standard conflict resolution policy that you will use

At least 5 sequential steps that allow conflict

Full Sail University | Project and Team Management (PTM)

Full Sail University | Project and Team Management (PTM)

Project Pitch Plan

Full Sail University | Project and Team Management (PTM)

Full Sail University | Project and Team Management (PTM)

Risk is any unexpected event

Full Sail University | Project and Team Management (PTM)

Full Sail University | Project and Team Management (PTM)

Project management risks can be broken down into five elements:

1. Risk event:What might happen to affect your project?

Full Sail University | Project and Team Management (PTM)

Project management risks can be broken down into five elements:

1. Risk event:What might happen to affect your project?

Full Sail University | Project and Team Management (PTM)

Project management risks can be broken down into five elements:

1. Risk event:What might happen to affect your project?

Full Sail University | Project and Team Management (PTM)

Project management risks can be broken down into five elements:

1. Risk event:What might happen to affect your project?

Full Sail University | Project and Team Management (PTM)

Project management risks can be broken down into five elements:

1. Risk event:What might happen to affect your project?

Full Sail University | Project and Team Management (PTM)

Students will create a Risk Management Plan

Full Sail University | Project and Team Management (PTM)

Successful students will be able to create applicable

Full Sail University | Project and Team Management (PTM)

Read Chapter 7 in Eric Verzuhs eBook,

Full Sail University | Project and Team Management (PTM)

Full Sail University | Project and Team Management (PTM)

Then, create your Budget in light of your Risk Management Plan.

Full Sail University | Project and Team Management (PTM)

Then, create your Budget in light of your Risk Management Plan.

Full Sail University | Project and Team Management (PTM)

Full Sail University | Project and Team Management (PTM)

Full Sail University | Project and Team Management (PTM)

Full Sail University | Project and Team Management (PTM)

Consider the following questions:

What can affect your project?

Full Sail University | Project and Team Management (PTM)

Full Sail University | Project and Team Management (PTM)

(Meredith & Mantel, 2011)

Full Sail University | Project and Team Management (PTM)

A budget is an itemized estimation

Full Sail University | Project and Team Management (PTM)

Your projects budget outlines direct costs,