Project Management IND510

Learning outcomes are divided into the following categories: knowledge, skills and general competence.

Knowledge

After undertaking the course, the student should have acquired the following knowledge:

• Have a firm grasp of the terminology of project management and have knowledge of various important concepts within the discipline. This include concepts such as project, project management, program, program management, hard and soft skills, system, process, feedback, feedforward, project life cycle, project management methodology, feasibility study, business case, capital budgeting, project appraisal, cash flow, externality, sunk cost, discount rate, prioritization techniques, project stakeholder, stakeholder management, organizational structure, supply chain management, procurement, contract, project risk, risk management, safety, hazard, quality, quality management, scoping, project constraints, breakdown structures, team, team building, scheduling (Gantt chart and network diagram), beta distribution approximation, resource smoothing, full resource levelling, project budgeting, project control systems, change management, milestones, earned value analysis, project closure, critical chain project management, theory of constraints and continuous improvement.

Skills

After undertaking the course, the student should be able to:

• Distinguish between project and nonproject activities.
• Distinguish between project and programs.
• Distinguish between soft and hard project management skills.
• Conduct project classification.
• Conduct project appraisal and project prioritization. Specifically, be able to apply techniques such as net present value, internal rate of return, payback period, discounted payback period, profitability index and decision tree analysis.
• Conduct stakeholder management, which involves stakeholder identification and analysis, stakeholder mapping and response and resolution of stakeholder issues.
• Choose between different types of procurement contracts and calculate relevant contract properties.
• Calculate risk exposure and utilize an isorisk contour chart.
• Utilize and develop breakdown structures.
• Estimate activity durations.
• Utilize and develop both Gantt charts and network diagrams.
• Conduct resource smoothing and full resource levelling.

General competence

After undertaking the course, the student should have developed the competence necessary to deal with many of the roles and responsibilities associated with the project manager position in a project.