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These are the user uploaded subtitles that are being translated: 1 1 00:00:01,470 --> 00:00:03,080 Here's the entire planning stage 2 2 00:00:03,080 --> 00:00:04,563 in a simple flow chart. 3 3 00:00:05,640 --> 00:00:08,130 When you follow this best practice approach, 4 4 00:00:08,130 --> 00:00:12,220 planning is productive and efficient and can almost always 5 5 00:00:12,220 --> 00:00:15,083 be done within five per cent of the project effort. 6 6 00:00:17,290 --> 00:00:20,040 First, the requirements are documented. 7 7 00:00:20,040 --> 00:00:23,160 With all the detail about what the project result needs 8 8 00:00:23,160 --> 00:00:24,260 to meet the objective. 9 9 00:00:25,420 --> 00:00:29,060 Then, the work breakdown structure is prepared. 10 10 00:00:29,060 --> 00:00:31,900 A graphic showing all the deliverables that will be 11 11 00:00:31,900 --> 00:00:33,750 produced during the project, 12 12 00:00:33,750 --> 00:00:36,250 not just for handover to the customer at the end 13 13 00:00:36,250 --> 00:00:38,120 but also including all the things the team 14 14 00:00:38,120 --> 00:00:41,143 has to produce along the way, just to get the project done. 15 15 00:00:42,920 --> 00:00:46,860 With the objective, requirements, and deliverables in hand 16 16 00:00:46,860 --> 00:00:50,363 we have the project scope documented as well as we can. 17 17 00:00:52,100 --> 00:00:55,100 Then we prepare a precedence diagram, 18 18 00:00:55,100 --> 00:00:57,910 a simple and natural flow chart of the deliverables 19 19 00:00:57,910 --> 00:01:01,010 with arrows between them, showing the order they must 20 20 00:01:01,010 --> 00:01:01,843 come together. 21 21 00:01:03,100 --> 00:01:06,130 This diagram is the most human intuitive document we produce 22 22 00:01:06,130 --> 00:01:08,770 during planning and is invaluable 23 23 00:01:08,770 --> 00:01:13,200 for getting the strategy right, communicating the plan to others 24 24 00:01:13,200 --> 00:01:15,123 and managing the project later. 25 25 00:01:16,960 --> 00:01:19,970 After we produce the precedence diagram it's the best time 26 26 00:01:19,970 --> 00:01:22,640 to have the core project team estimate the resources, 27 27 00:01:22,640 --> 00:01:26,360 material, services, time, and cost of each deliverable. 28 28 00:01:26,360 --> 00:01:28,530 Usually with a straight-forward breakdown of 29 29 00:01:28,530 --> 00:01:29,730 the activities required. 30 30 00:01:31,580 --> 00:01:33,810 Given the deliverables documenting the work, 31 31 00:01:33,810 --> 00:01:36,880 the precedence diagram documenting how they come together, 32 32 00:01:36,880 --> 00:01:39,470 and the estimates, we can then put this data 33 33 00:01:39,470 --> 00:01:42,810 into a Gantt chart tool and determine the project schedule 34 34 00:01:42,810 --> 00:01:43,833 and critical path. 35 35 00:01:45,240 --> 00:01:47,890 We can also add up the total project cost, 36 36 00:01:47,890 --> 00:01:51,360 usually broken down by deliverable and often as a graph 37 37 00:01:51,360 --> 00:01:53,103 showing spending across time. 38 38 00:01:54,960 --> 00:01:58,840 In parallel to all this work we prepare a risk register, 39 39 00:01:58,840 --> 00:02:01,880 identifying the risks, shortlisting them, 40 40 00:02:01,880 --> 00:02:04,580 quantifying the probable time and cost, 41 41 00:02:04,580 --> 00:02:08,220 coming up with response plans, and finalizing the risk 42 42 00:02:08,220 --> 00:02:11,410 buffer required thereby providing the project with some 43 43 00:02:11,410 --> 00:02:14,540 extra time and cost to deal with the inevitable problems 44 44 00:02:14,540 --> 00:02:15,633 that will occur. 45 45 00:02:17,550 --> 00:02:22,240 With the scope, schedule, budget, and risks baselined 46 46 00:02:22,240 --> 00:02:24,480 we then put them into a project plan, 47 47 00:02:24,480 --> 00:02:26,690 along with any other items the project needs, 48 48 00:02:26,690 --> 00:02:30,140 such as plans for human resources, communications, 49 49 00:02:30,140 --> 00:02:33,730 procurement or quality, and then brief the sponsor 50 50 00:02:33,730 --> 00:02:35,330 and other relevant stakeholders. 51 51 00:02:36,410 --> 00:02:38,300 At this point there can be a triple constraint 52 52 00:02:38,300 --> 00:02:41,060 rebalancing step required if the stakeholders direct 53 53 00:02:41,060 --> 00:02:44,990 any changes to the plan, in which case we just iterate 54 54 00:02:44,990 --> 00:02:47,450 the planning steps as necessary to make sure 55 55 00:02:47,450 --> 00:02:51,743 the final plan fits their expectations and is feasible. 56 56 00:02:53,930 --> 00:02:56,900 This simple process does more than anything else in 57 57 00:02:56,900 --> 00:02:59,170 the project management life-cycle to maximize 58 58 00:02:59,170 --> 00:03:01,953 the chances our project will be successful. 59 59 00:03:03,050 --> 00:03:07,110 Experience shows that by simply doing these steps 60 60 00:03:07,110 --> 00:03:08,990 the schedule and budget estimates will go from about 61 61 00:03:08,990 --> 00:03:12,400 plus or minus 100% accuracy coming out of initiation 62 62 00:03:12,400 --> 00:03:15,493 to about plus or minus 10% accuracy at the end of planning. 63 63 00:03:17,040 --> 00:03:18,393 And that's the sweet spot. 64 64 00:03:19,310 --> 00:03:21,060 Most sponsors can live with a plan 65 65 00:03:21,060 --> 00:03:24,290 with plus or minus 10% accuracy, which is actually 66 66 00:03:24,290 --> 00:03:26,143 amazingly good before you start. 67 67 00:03:27,340 --> 00:03:30,140 And because of diminishing returns, it would take much more 68 68 00:03:30,140 --> 00:03:32,663 effort and cost to get a more accurate estimate. 69 69 00:03:33,880 --> 00:03:37,170 Spending just 5% of the estimated project effort 70 70 00:03:37,170 --> 00:03:39,869 to get an estimate within plus or minus 10% 71 71 00:03:39,869 --> 00:03:43,473 is the best result for the least work. 72 72 00:03:45,920 --> 00:03:49,303 The gate to execution is then at the end of planning. 73 73 00:03:50,430 --> 00:03:52,800 If you could not meet the schedule and cost constraints 74 74 00:03:52,800 --> 00:03:56,040 given to you in initiation, the end of the planning process 75 75 00:03:56,040 --> 00:03:58,450 provides a coordination point to adjust 76 76 00:03:58,450 --> 00:04:01,860 the triple constraint as needed to provide an acceptable 77 77 00:04:01,860 --> 00:04:04,663 and feasible plan before you start work. 78 78 00:04:06,270 --> 00:04:08,620 You can also always review the plan at any step along 79 79 00:04:08,620 --> 00:04:11,610 the way to get interim direction if it already looks like 80 80 00:04:11,610 --> 00:04:14,150 you cannot meet any time and cost constrains. 81 81 00:04:14,150 --> 00:04:16,450 For example, if after developing the requirements 82 82 00:04:16,450 --> 00:04:18,910 or work breakdown structure it is already obvious 83 83 00:04:18,910 --> 00:04:20,883 the scope is much larger than expected. 84 84 00:04:22,840 --> 00:04:26,570 By the way, the process is exactly the same whether 85 85 00:04:26,570 --> 00:04:29,260 the project is within one organization or 86 86 00:04:29,260 --> 00:04:31,403 a contractual effort between two parties. 87 87 00:04:32,350 --> 00:04:35,560 The only difference is, that for commercial projects 88 88 00:04:35,560 --> 00:04:37,950 the requirements are often prepared by the customer 89 89 00:04:37,950 --> 00:04:40,100 and provided to the planning team as input. 90 90 00:04:41,150 --> 00:04:43,770 But the process is the same either way. 91 91 00:04:43,770 --> 00:04:46,100 And for commercial projects, the project plan 92 92 00:04:46,100 --> 00:04:49,293 is the main document provided in the proposal. 93 93 00:04:51,960 --> 00:04:55,240 Complete common sense, as efficient as trillions of 94 94 00:04:55,240 --> 00:04:57,600 dollars of experience can make it, 95 95 00:04:57,600 --> 00:05:00,643 project planning at its simplest. 8785