Lecture

Project Management Essentials: Scope, Time, and Cost

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In course

MICRO-406: Products design & systems engineering

This course will cover all the aspects of product design and system engineering from learning relevant methods to the actual implementation in a hands-on practice of product development. ...

Description

This lecture by the instructor covers essential aspects of project management, focusing on scope, time, and cost management. Topics include project and product management, scope management with work breakdown structure, time management with activity estimation, and cost management with orders of magnitude for development costs. The lecture also delves into resource allocation, schedule optimization, and how to turn projects into a business case. Additionally, it discusses project economics, including estimating project costs over time, margin obtained from selling the product, sales forecast, and project metrics calculation such as NPV, ROI, and IRR. The lecture concludes with insights on risk management and the importance of efficiently managing risks in projects.

Instructors (2)

Yves Bellouard

Dr. Yves Bellouard is Associate Professor in Microengineering at Ecole Polytechnique Fédérale de Lausanne (EPFL) in Switzerland, where he heads the Galatea lab and the Richemont Chair in micromanufacturing. He received a BS in Theoretical Physics and a MS in Applied Physics from Université Pierre et Marie Curie in Paris, France in 1994-1995 and a PhD in Microengineering from Ecole Polytechnique Fédérale de Lausanne (EPFL) in Lausanne, Switzerland in 2000. For his PhD work, he received the Omega Scientific prize (2001) for outstanding contribution in the field of microengineering for his work on Shape Memory Alloys. Before joining EPFL in 2015, he was Associate Professor at Eindhoven University of Technologies (TU/e) in the Netherlands and prior to that, Research Scientist at Rensselaer Polytechnic Institute (RPI) in Troy, New York for about four years where he started working on femtosecond laser processing of glass materials. From 2010 until 2013, Yves Bellouard initiated and coordinated the Femtoprint project, a European research initiative aiming at investigating a table-top printer for microsystems ('3D printing of microsystems'). In 2013, he received a prestigious ERC Starting Grant (Consolidator-2012) from the European Research Council and a JSPS Fellowship from the Japan Society for the Promotion of Science. His current research interests are on new paradigms for system integration at the microscale and in particular laser-based methods to tailor material properties for achieving higher level of integration in microsystems, like for instance integrating optics, mechanics and fluidics in a single monolith. These approaches open new opportunities for direct-write methods of microsystems (3D printing). Personal website

Edoardo Charbon

Edoardo Charbon (SM’00 F’17) received the Elektrotechnik Diploma from ETH Zurich, the M.S. from the University of California at San Diego, and the Ph.D. from the University of California at Berkeley in 1988, 1991, and 1995, respectively, all in electrical engineering and EECS. He has consulted with numerous organizations, including Bosch, X-Fab, Texas Instruments, Maxim, Sony, Agilent, and the Carlyle Group. He was with Cadence Design Systems from 1995 to 2000, where he was the architect of the company's initiative on information hiding for intellectual property protection. In 2000, he joined Canesta Inc., as the Chief Architect, where he led the development of wireless 3-D CMOS image sensors. Since 2002 he has been a member of the faculty of EPFL, where is a full professor since 2015. From 2008 to 2016 he was full professor and chair at the Delft University of Technology, where he spearheaded the university's effort on cryogenic electronics for quantum computing as part of QuTech. He has been the driving force behind the creation of deep-submicron CMOS SPAD technology, which is mass-produced since 2015 and is present in smartphones, telemeters, proximity sensors, and medical diagnostics tools. His interests span from 3-D vision, LiDAR, FLIM, FCS, NIROT to super-resolution microscopy, time-resolved Raman spectroscopy, and cryo-CMOS circuits and systems for quantum computing. He has authored or co-authored over 400 papers and two books, and he holds 23 patents. Dr. Charbon is a distinguished visiting scholar of the W. M. Keck Institute for Space at Caltech, a fellow of the Kavli Institute of Nanoscience Delft, a distinguished lecturer of the IEEE Photonics Society, and a fellow of the IEEE.

Official source

Ontological neighbourhood

Business

Business administration: Project management

Related concepts (32)

Project management

Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives. The objective of project management is to produce a complete project which complies with the client's objectives.

Project manager

A project manager is a professional in the field of project management. Project managers have the responsibility of the planning, procurement and execution of a project, in any undertaking that has a defined scope, defined start and a defined finish; regardless of industry. Project managers are first point of contact for any issues or discrepancies arising from within the heads of various departments in an organization before the problem escalates to higher authorities, as project representative.

PRINCE2

PRINCE2 (PRojects IN Controlled Environments) is a structured project management method and practitioner certification programme. PRINCE2 emphasises dividing projects into manageable and controllable stages. It is adopted in many countries worldwide, including the UK, Western European countries, and Australia. PRINCE2 training is available in many languages. PRINCE2 was developed as a UK government standard for information systems projects.

Critical chain project management

Critical chain project management (CCPM) is a method of planning and managing projects that emphasizes the resources (people, equipment, physical space) required to execute project tasks. It was developed by Eliyahu M. Goldratt. It differs from more traditional methods that derive from critical path and PERT algorithms, which emphasize task order and rigid scheduling. A critical chain project network strives to keep resources levelled, and requires that they be flexible in start times.

Work breakdown structure

A work-breakdown structure (WBS) in project management and systems engineering is a deliverable-oriented breakdown of a project into smaller components. A work breakdown structure is a key project management element that organizes the team's work into manageable sections. The Project Management Body of Knowledge defines the work-breakdown structure as a "hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.

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