Managing Project Costs, Quality, Risks and Procurements
Curriculum guideline
Lecture, seminar, case studies, exercises, group discussions
- Planning and managing costs throughout a project: estimating techniques, cost-benefit analysis, creating a scope baseline, determining the project budget and managing costs through EVM
- Planning and managing project quality: definition; standards; cost of quality; sampling; statistics; qualitative and quantitative quality management; organizational maturity models; flowcharts; check sheets; Pareto diagrams; histograms and other tools will be explored
- Planning and managing project risks: definition, identifying risks, analyzing risks, planning and carrying out risk responses; the risk register
- Planning and managing project procurement: the build/buy decision, creating a vendor list, selecting a vendor, creating procurement contracts and managing procurements throughout the project
- Integrating cost, risk, quality and procurement management into the overall project management framework to ensure overall project success
Students who successfully complete the course will be able to:
- define project costing, project quality management, project risk management and project procurement management;
- manage project costs throughout a project using tools such as estimating, budgeting, measuring, cash-flow management and EVM;
- manage project quality including setting standards, determining the cost of quality management, measuring quality, qualitative and quantitative methods for managing the quality of project processes, and the quality of project results;
- manage project risks, from explaining the vital importance of this process to identifying, analyzing, planning and carrying out risk responses;
- manage project procurement: identify procurement requirements; the tendering process; Request for Proposal (RFP), Request for Quote (RFQ), legal issues, contracts, change management processes; allocation of risk; payment options; the relationship between the contractor and the purchaser of project supplies or services; identifying deficiencies and closing a contract; and;
- integrate the knowledge learned in each knowledge area into the overall management of a complex project.
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Tests * |
20% - 40% |
|
Assignments/Term Project(s) (min 2) |
20% - 40% |
|
Participation |
5% - 10% |
|
Final Examination |
20% - 30% |
|
Total |
100% |
*A combination of quizzes and/or midterms, with no single assessment in this group worth more than 25% of the final grade.
Notes:
1) Students must achieve a grade of at least 50% on the combined examination components to pass the course.
2) Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.
Required Textbooks:
Wilson, Randal. Mastering Risk and Procurement in Project Management: A Guide to Planning, Controlling, and Resolving Unexpected Problems. Latest Edition. (Pearson)
AND
Wilson, Randal. Mastering Project Time Management, Cost Control and Quality Management: Proven Methods for Controlling the Three Elements that Define Project Deliverables. Latest Edition. (Pearson)
or equivalent materials approved by the Business Department.
Optional:
Project Management Institute.A Guide to the Project Management Body of Knowledge (PMBOK). Latest Edition. (optional but recommended)
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