Managing Project Resource

00:09:22
https://www.youtube.com/watch?v=aUKXOAxzyvg

Zusammenfassung

TLDRThe presentation covers the project resource management concerning developing a new Virtual Reality (VR) fitness application. It delves into project management phases: Initiation involves setting project goals and recognizing resources, Planning focuses on task scheduling and resource allocation, Execution entails monitoring resource usage, and Closure concentrates on completing deliverables and releasing resources. Resource management strategies discussed include cost estimation, scenario analysis, and risk management. The video also emphasizes the importance of earned value analysis (EVA) in tracking project performance. Types of resources such as land, labor, and capital, and their direct and indirect costs, are discussed alongside planning for possible risks and deviations from projections. The conclusion underlines effective resource management, EVA utility, and scenario planning.

Mitbringsel

  • 📌 Understanding VR (Virtual Reality) in project context
  • 🔧 Four stages of project delivery: Initiation, Planning, Execution, Closure
  • 💼 Key focus on resource allocation, cost estimation, scenario analysis
  • 📊 Emphasis on Earned Value Analysis (EVA) for performance tracking
  • ⏳ Importance of scheduling and timeline management
  • 💡 Significance of forecasting scenarios: Normal, Optimistic, Pessimistic
  • 🛠 Resource types: Land, Labor, Capital
  • 📉 Direct (labor, material) vs Indirect (overhead, administrative) costs
  • ⚠️ Scenario planning for risks and deviations
  • ✅ Effective resource planning and management are crucial for project success

Zeitleiste

  • 00:00:00 - 00:09:22

    The speaker, Manikum, introduces themselves and outlines their affiliation with RP University in London, studying MSC Project Management. Their project focuses on managing project resources, particularly in developing a new VR fitness app. The introduction explains the concept of VR (Virtual Reality) and the framework of project delivery through four stages: Initiation, Planning, Execution, and Closure. Emphasis is laid on resource allocation, cost estimation, and scenario analysis in the resource management of the VR fitness application. The initiation stage involves setting project goals and identifying resources, while planning focuses on scheduling, allocating time, and budgeting. The execution stage includes monitoring resource usage and project performance, and the closure entails completing deliverables and releasing resources.

Mind Map

Mind Map

Häufig gestellte Fragen

  • What does VR stand for?

    VR stands for Virtual Reality.

  • What are the four stages of project delivery discussed?

    Initiation, Planning, Execution, and Closure.

  • What is the focus of resource management during project initiation?

    Identifying VR development tools, demand, and budget.

  • How is resource management handled during the planning phase?

    By scheduling tasks, allocating resources, and adjusting estimates based on cost and timeline.

  • What does EVA refer to in resource management?

    EVA refers to Earned Value Analysis, a performance tracking method.

  • What are some key takeaways from the project?

    Effective resource planning, the use of EVA to track progress, and scenario planning for risk mitigation.

  • What are the three scenario types mentioned?

    Normal, Optimistic, and Pessimistic scenarios.

  • What are the main types of resources involved in the project?

    Land, labor (software developers), and capital (investment in development tools).

  • What are direct and indirect costs in this context?

    Direct costs include labor, material, marketing, while indirect costs involve overhead and administrative expenses.

  • How is scenario planning important for the project?

    It helps in understanding risks and preparing for normal, optimistic, and pessimistic situations.

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Untertitel
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Automatisches Blättern:
  • 00:00:08
    hi sir good morning to everyone I am
  • 00:00:13
    manikum I am studied in RP University of
  • 00:00:17
    London my course is MSC project
  • 00:00:21
    management my subject is managing
  • 00:00:24
    project
  • 00:00:26
    resources
  • 00:00:28
    okay and uh my subject my title
  • 00:00:32
    is development of new VR fitness
  • 00:00:39
    app the
  • 00:00:40
    introduction the first of all
  • 00:00:43
    introduction for you project management
  • 00:00:45
    for your VR Fitness sh VR means uh
  • 00:00:49
    virtual reality VR means virtual reality
  • 00:00:52
    second one focus on the four stages of
  • 00:00:55
    the project delivery first one
  • 00:00:59
    initiation
  • 00:01:00
    second one planning third one execution
  • 00:01:04
    fourth one
  • 00:01:06
    closer focus on the four stages PL
  • 00:01:09
    initiation planning execution and
  • 00:01:11
    closure four stages third one key Focus
  • 00:01:16
    resource allocation cost estimation and
  • 00:01:19
    scenario analysis uh Source means um uh
  • 00:01:24
    we are Fitness uh application the
  • 00:01:27
    collected the resources cost estimation
  • 00:01:30
    of the total uh budget of the costom and
  • 00:01:34
    third one scenario analysis of
  • 00:01:37
    the uh customers planning execution
  • 00:01:43
    anybody and the project stages four St
  • 00:01:47
    four stages first of all
  • 00:01:50
    initiation uh setting project calls and
  • 00:01:53
    identifying the resources the initiation
  • 00:01:56
    setting project goals and identifying
  • 00:01:58
    the resources planning uh scheduling dok
  • 00:02:02
    and allocating time and budget very very
  • 00:02:05
    important for the planning allocating
  • 00:02:07
    time and uh budget allocating time and
  • 00:02:10
    budget planning the very very important
  • 00:02:12
    the allocating budget and
  • 00:02:15
    time third one execution monitoring
  • 00:02:18
    resource use and project
  • 00:02:20
    performance uh closer completing the
  • 00:02:23
    deliverables and uh leasing resources
  • 00:02:32
    uh Resource Management in initiation
  • 00:02:34
    initiation mean shorting Point uh Key
  • 00:02:37
    activities identify the VR development
  • 00:02:39
    tools Dem and budget identifying the VR
  • 00:02:43
    development tools Dem and budget
  • 00:02:46
    forecasting normal optimistic bistic
  • 00:02:50
    scenarios forecasting the normal bistic
  • 00:02:53
    and normal optimistic and pre bistic
  • 00:02:56
    scenario two bistic and condition
  • 00:02:59
    planning 10 per budget for the unfor
  • 00:03:03
    costs okay planning for the 10 per
  • 00:03:05
    budget for the unfor
  • 00:03:09
    costs uh Resource Management planning
  • 00:03:12
    Resource Management planning uh previous
  • 00:03:14
    part the resource management initiation
  • 00:03:16
    initiation means starting starting Key
  • 00:03:19
    activities okay second of all the
  • 00:03:21
    resource management in the planning uh
  • 00:03:24
    Key activities uh scheduling task and
  • 00:03:26
    allocating resources uh scheduling
  • 00:03:28
    adjusting and ation planning very very
  • 00:03:31
    important there soling means Sol
  • 00:03:33
    allocating resources adjusting
  • 00:03:37
    estimated based on the cost and timeline
  • 00:03:40
    okay adjusting estimated on the cost and
  • 00:03:43
    timeline
  • 00:03:45
    insights uh conation plan 15% budget for
  • 00:03:49
    your highrisk items okay and conation
  • 00:03:52
    plan for the
  • 00:03:53
    15% uh budget for highrisk
  • 00:03:56
    items previous part the 10 per cost and
  • 00:04:00
    uh timeline PR for the condition plan
  • 00:04:03
    10% budget for the unpr cost that's for
  • 00:04:07
    the condition plan for 15 15% budget for
  • 00:04:10
    the high risk
  • 00:04:13
    items third one uh Resource Management
  • 00:04:16
    in execution key activity uh monitoring
  • 00:04:20
    labor technology and
  • 00:04:23
    capital resource management in the
  • 00:04:25
    execution monitoring labor and uh labor
  • 00:04:29
    technology and capital uh Third One S
  • 00:04:32
    one ear value analysis VV means for the
  • 00:04:36
    ear value analysis for performance
  • 00:04:39
    tracking uh that handling optimistic and
  • 00:04:44
    bistic scenarios for the cost and time
  • 00:04:47
    okay uh handling optimistic uh
  • 00:04:51
    optimistic f bistic for the scenarios
  • 00:04:54
    cost and time very very important for
  • 00:04:56
    the resource management the execution
  • 00:05:00
    uh search management inclosure that's
  • 00:05:02
    for find the uh Key
  • 00:05:05
    activities fining the financial and
  • 00:05:07
    releasing resources and condition action
  • 00:05:10
    for delays and potential
  • 00:05:14
    penalties uh third one document lessons
  • 00:05:17
    land s Management closure document
  • 00:05:20
    lessons are land con action for delays
  • 00:05:23
    potential
  • 00:05:25
    finales finalizing the financial and
  • 00:05:27
    relasing resources
  • 00:05:32
    resource typ uh resource typ for the uh
  • 00:05:36
    land virtual casting Services labor
  • 00:05:39
    software
  • 00:05:41
    developers Des Etc Capital means
  • 00:05:45
    investment in V development tool
  • 00:05:52
    servicei monitoring labor technology and
  • 00:05:57
    capital land virtual acting land virtual
  • 00:06:01
    casting Services labor means software
  • 00:06:03
    developers ex designer and Etc uh
  • 00:06:07
    Capital means investment in VR
  • 00:06:10
    development tools servers resource types
  • 00:06:12
    are three types land virtual casting
  • 00:06:14
    service labor software developers and
  • 00:06:17
    capital we
  • 00:06:19
    have uh direct and indirect cost direct
  • 00:06:22
    and indirect cost direct means labor
  • 00:06:25
    material and marketing uh direct direct
  • 00:06:29
    and direct cost direct the labor
  • 00:06:31
    material and marketing uh thir third
  • 00:06:35
    point and the indirect for the overheat
  • 00:06:38
    uh dection administrative cost overes
  • 00:06:41
    dection administ
  • 00:06:46
    cost EV Eva means for the ear value
  • 00:06:51
    analysis means for Value key Matrix some
  • 00:06:54
    calculation uh P for Planned value AC
  • 00:06:58
    for actual
  • 00:07:00
    cast e for Value Matrix cost on schule
  • 00:07:05
    Varian uh CV equal EV minus a uh Second
  • 00:07:11
    One SV equal EV minus
  • 00:07:17
    BB okay the N value
  • 00:07:20
    analysis scenario planning three
  • 00:07:23
    scenarios and first of all normal
  • 00:07:27
    optimistic bistic three scenarios first
  • 00:07:30
    of all
  • 00:07:31
    normal uh cost on timeline match the
  • 00:07:35
    budget normal cost on timeline match the
  • 00:07:39
    budget second one optimistic for the
  • 00:07:42
    softer development Cycles optimistic s
  • 00:07:45
    development cycles and reduced cost very
  • 00:07:49
    very important for the uh s development
  • 00:07:52
    cycles and the reduced cost bistic for
  • 00:07:56
    the delays and cost overruns okay B
  • 00:07:59
    mytic for the delays delays and cost
  • 00:08:03
    overruns the different optimistic and
  • 00:08:06
    bstic the different s development cycles
  • 00:08:09
    and reduced cost thetic for delays and
  • 00:08:14
    cost overand the high and low the btic
  • 00:08:17
    and uptic the three
  • 00:08:22
    planning
  • 00:08:23
    conclusion key takeaways uh three
  • 00:08:26
    conclusion points of the first of all
  • 00:08:28
    very very important uh effective
  • 00:08:30
    resource planning and management uh
  • 00:08:33
    effective resource planning and
  • 00:08:34
    management second of all uh use of Eva
  • 00:08:37
    Eva means uh evaluate value analysis to
  • 00:08:41
    track project progress third one
  • 00:08:44
    scenario planning for risk uh
  • 00:08:48
    medication that's
  • 00:08:56
    all that's all uh that's all the my
  • 00:08:59
    project title uh conclusion for the
  • 00:09:01
    development of a new VR witness app VR
  • 00:09:04
    means virtual reality uh thank you so
  • 00:09:07
    much to everyone
Tags
  • VR
  • project management
  • resource allocation
  • cost estimation
  • EVA
  • scenario planning
  • risk management
  • VR fitness app
  • project execution
  • resource management