MANGT 515: COST AND VALUE MANAGEMENT (3 credits)
A problem-based course that emphasizes project cost control and teaches students to apply techniques to control projects in business. Prerequisite: MANGT 510 (may be taken concurrently)

Note: Students who have completed a master's degree (M.S., M.A., or M.B.A.) are not permitted to transfer credits from that degree into another master's degree at Penn State.

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Overview

MANGT 515 is a problem-based, interdisciplinary course that places project and product controls, particularly in respect to cost, at the center of the project management process and ensures that students understand and can specify and apply appropriate techniques to control the overall project in a modern business environment. During your study, it is expected that you will draw on your own work experiences to further enhance your understanding of the subject matter. Therefore, many of the course assignments may be completed by using real situations and instances from your experience. We ask only that you maintain the integrity of private information in these assignments by changing any names such that individuals are not able to be identified.

• The course has an established start and end date and you will interact with other students throughout the course.

MANGT 515 materials include a textbook and online course content lessons available through this Web site. There are 13 content lessons, or topics of study. There are also readings on Penn State's Electronic Reserve system which you are expected to have read and understood by the time you take the final exam. You may access electronic reserves by clicking on the Resources link on the menu and choosing Library Reserves. If you then click Preview Activated Link, you will access your course readings directly.

You may study this material at your own pace, meaning that you will be able to read and work through this information at a rate that works best for your learning style. A course schedule is posted later in this document to help keep you organized over the course of the semester. This Web site was designed to help facilitate your understanding of the content. It contains a link to discussion forums that you can use to ask questions or discuss content issues with your professor and fellow delegates, e-mail access, a chat room, and other materials to aid you in your study.

What will be expected of you, the delegate?
As a student in this course, you are expected to read the material in the workbook and textbook, and complete any self-assessments and your coursework assignment. You may work through this course at your own pace, but at each stage, you should

• conscientiously read and reflect on the material
• ask questions (via the Web, e-mail, phone, or in person) of your instructor and fellow delegates on issues you don't understand
• complete your midterm assignment
• complete other assignments as required by your instructor
• prepare for your final exam

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Objectives

MANGT 515 is a problem-based, interdisciplinary course that places project and product controls, particularly in respect to cost, at the center of the project management process and ensures that students understand and can specify and apply appropriate techniques to control the overall project in a modern business environment. The course focuses on the use methods for effective cost control in the project environment. How can an organization implement projects while maintaining control of its costs and value? The specific objectives of the course are:

• To learn the importance of cost and value management on successful project ventures.
• To understand "cost" and "value" as these terms apply to project management
• To understand the nature of budgeting and financial analysis for project selection and control
• To develop skill in using project management reporting mechanisms to estimate project costs and investments, schedule and control resources, and track progress of their projects.
• Enhance the ability to interpret control information as it allows for change (configuration) management of mid-stream projects
• To develop a multi-disciplinary outlook for operating on project teams, recognizing the dual (and sometimes competing) demands of managing the technical and cost-related sides of a project.
• To understand how effective management of the project supply chain can enhance value in projects
• Provide a framework for integrating cost and value in a project environment.

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Materials

The following materials are required and must be purchased from MBS Direct:

• “Cost and Value Management in Projects” by Ray R. Venkataraman and Jeffrey K. Pinto, first edition, John Wiley and Sons 2008 (ISBN: 978-0470069134).
• Course Content Lessons  found under the Lessons link on your course menu

Electronic Reserves

This course also requires that you access Penn State library materials specifically reserved for this course. The following materials have been reserved:

• Gardiner, P. D., K. Stewart (2000). Revisiting the golden triangle of cost, time, and quality: The role of NPV in project control. International Journal of Project Management, 18(4), 251-256.
• Hamburger, D.H (2003). Three perceptions of project cost. In Project management: A managerial approach. Meredith, Jack R. and Samuel J. Mantel, Jr. eds. New Your J. Wiley pp.372-378.
• Fang, W-H., and J. H. Rogerson (1999). Value engineering for managing the design process. International Journal of Quality & Reliability Management 16(1), 42-55. * Jaafari, A.(2001). Management of risks, uncertainties and opportunities on projects: time for a fundamental shift. International Journal of Project Management, 19(2), 89-101.
• Mustafa, M.A.; Al-Bahar, J.F.; (1991). Project risk assessment using the analytic hierarchy process. IEEE Transactions on Engineering Management, 38(1), 46-52.
• Primrose, P. L., F. A. Bailey, and R. Leonard (1984). The practical application of discounted cash flow to plant purchase using an integrated suite of computer programs. Accounting and Business Research Winter, 27-31.
• Thiry, M. (2001). Sensemaking in value management practice. International Journal of Project Management 19(2), 71-77.
• Wateridge, J. (1999). The role of configuration management in the development and management of Information Systems/Technology (IS/IT) projects. International Journal of Project Management 17(4), 237-241.

Many of the University Libraries resources can be utilized from a distance. Through the Libraries website, you can

• access magazine, journal, and newspaper articles online using library databases;
• borrow materials and have them delivered to your doorstep—or even your desktop;
• get research help via email, chat, or phone using the Ask a Librarian service; and
• much more.

You can view the Online Students' Library Guide for more information.

You must have an active Penn State Access Account to take full advantage of the Libraries' resources and services. Once you have a Penn State account, you will automatically be registered with the library within 24–48 hours. If you would like to determine whether your registration has been completed, visit the Libraries home page and select  My Account.

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Technical Specifications

Technical Requirements

Operating System	Windows Vista, Windows 7, Windows 8*; Mac OS X 10.5 or higher *Windows 8 support excludes the tablet only RT version
Processor	2 GHz or higher
Memory	1 GB of RAM
Hard Drive Space	20 GB free disk space
Browser	We recommend the latest ANGEL-supported version of Firefox or Internet Explorer. To determine if your browser fits this criterion, and for advice on downloading a supported version, please refer to the following ITS knowledge base article: Supported Browsers and Recommended Computers. Note: Cookies, Java, and JavaScript must be enabled. Pop-up blockers should be configured to permit new windows from Penn State websites. Due to nonstandard handling of CSS, JavaScript and caching, older versions of Internet Explorer (such as IE 6 or earlier) do not work with our courses.
Plug-ins	Adobe Reader [Download from Adobe] Flash Player (v7.0 or later) [Download from Adobe]
Additional Software	Microsoft Office (2007 or later)
Internet Connection	Broadband (cable or DSL) connection required
Printer	Access to graphics-capable printer
DVD-ROM	Required
Sound Card, Microphone, and Speakers	Required
Monitor	Capable of at least 1024 x 768 resolution

If you need technical assistance at any point during the course, please contact the Service Desk.

For registration, advising, disability services, help with materials, exams, general problem solving, visit World Campus Student Services!

 

 

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Course Requirements and Grading Assignments

The grades for the course will be allocated as follows:

• Midterm Assignment: 15%
• The coursework assignment is described in detail under the Midterm Assignment link on the menu.
• Final Exam: 30%
• Homework Assignments: 40%
• Participation: 15%

Students are expected to participate in online activities and discussions. Because of the importance of discussion to meeting the objectives of the course, students also will be evaluated on the frequency and quality of their participation. This evaluation will be based on the level of preparation for class discussion and student analysis and integration of the assigned materials. Students are expected to communicate their ideas clearly and persuasively. The following behavioral descriptions and corresponding number of participation points is a useful guide to different participation levels and their value.

Poor (20/40) Overall, posts show: No or little integration of theoretical concepts and frameworks from course content (text materials, assigned readings, and/or lessons). In addition,  posts fit into one or more of the following categories: Merely opinion statements - “shooting from the hip.” Repeat a point made by another person. Do not enhance or promote the discussion. No evidence that student has "gone digging" to find secondary sources that support ideas. Very short – ranging from a few words to one/two sentences that do not include “the WHY.”	Acceptable (30/40) Posts include following: Integration of theoretical concepts and frameworks from course content (text materials, assigned readings, and/or lessons). Posts also include: Evidence that student has "gone digging" to find secondary sources that support ideas. Comments that enhance or promote the discussion. Comments that specifically address issues raised in other posts. Comments that offer work or life experiences that support ideas.	Exemplary (40/40) Overall,  posts include: Integration of theoretical concepts and frameworks from course content (text materials, assigned readings, and/or lessons). Posts also include: Evidence that student has "gone digging" to find secondary sources that support ideas. Comments that enhance or promote the discussion. Comments that specifically address issues raised in other posts. Comments that offer work or life experiences that support ideas.
NOTE: I am looking more for the value-added nature of your posts not at the need to add sheer quantity to the board. After the due date, I will post my take or comments on the announcement page for each online participation set.

A maximum of 40 points can be earned for participation for each interactive session on the discussion board during the semester. These sessions will be initiated and facilitated by your instructor. In addition to the major assignments, you will be asked to complete other activities throughout the course. These homework assignments will be posted every two weeks to the course discussion forum. For a list of assignments, see the course schedule.

Course Grading Scale

Your final grade for the course will be based on the following overall percentage breakdown:

A: 93% - 100%
A-: 89% - 92.9%
B+: 85% - 88.9%
B: 80% - 84.9%
B-: 75% - 79.9%
C+: 70% - 74.9%
C: 65% - 69.9%
D: 60% - 64.9%
F: < 60%

Please refer to the University Grading Policy for Graduate Courses for additional information about University grading policies. If, for reasons beyond the student's control, a student is prevented from completing a course within the prescribed time, the grade in that course may be deferred with the concurrence of the instructor. The symbol DF appears on the student's transcript until the course has been completed. Non-emergency permission for filing a deferred grade must be requested by the student before the beginning of the final examination period. In an emergency situation, an instructor can approve a deferred grade after the final exam period has started. Under emergency conditions during which the instructor is unavailable, authorization is required from one of the following: the dean of the college in which the candidate is enrolled; the executive director of the Division of Undergraduate Studies if the student is enrolled in that division or is a provisional student; or the campus chancellor of the student's associated Penn State campus.

For additional information please refer to the Deferring a Grade page.

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Course Schedule

• Course begins START DATE
• Course ends END DATE

Lesson 1: Introduction to the Challenge of Cost and Value Management  in Projects
Time frame:
Readings:	Lesson 1 and Chapter 1 of the course text
Assignments:	Assignments are found in the Lesson 1 Road Map under the “Lesson 1 Activities” folder of the course web site for this lesson

Lesson 2:Project Needs Assessment, Concept Development and Planning
Time frame:
Readings:	Lesson 2 and Chapter 2 of the course text
Assignments:	Assignments are found in the Lesson 2 Road Map under the “Lesson 2 Activities” folder of the course web site for this lesson

Lesson 3: Cost Estimation
Time frame:
Readings:	Lesson 3 and Chapter 3 of the course text
Assignments:	Assignments are found in the Lesson 3 Road Map under the “Lesson 3 Activities” folder of the course web site for this lesson
Online participation set -1	Online participation set-1: Question will be posted on September 17th and is due on September 24th.

Lesson 4: Forecasting Methods for Cost and Value Management
Time frame:
Readings:	Lesson 4 and Appendix to Chapter 3 of the course text
Assignments:	Assignments are found in the Lesson 4 Road Map under the “Lesson 4 Activities” folder of the course web site for this lesson

Lesson 5: Project Budgeting
Time frame:
Readings:	Lesson 5 and Chapter 4 of the course text
Online discussion set -2:	Online participation set-2: Question will be posted on October 9th and is due on October 16th.

Lesson 6: Project Cost Control
Time frame:
Readings:	Lesson 6 and Chapter 5 of the course text
Assignments:	Assignments are found in the Lesson 6 Road Map under the “Lesson 6 Activities” folder of the course web site for this lesson
Mid Term Exam	The assignment is described in detail under Midterm Assignment under the activities link due

Lesson 7: Cash Flow Management
Time frame:
Readings:	Lesson 7 and Chapter 6 of the course text
Assignments:	Assignments are found in the Lesson 7 Road Map under the “Lesson 7 Activities” folder of the course web site for this lesson
Online participation set -3	Online participation set-3: Question will be posted on October 25th and is due on November 1st.

Lesson 8: Financial Management in Projects
Time frame:
Readings:	Lesson 8 and Chapter 7 of the course text
Assignments:	Assignments are found in the Lesson 8 Road Map under the “Lesson 8 Activities” folder of the course web site for this lesson
Online participation set -4	Online participation set-4: Question will be posted on November 3rd and is due on November 10th

Lesson 9: Value Management
Time frame:
Readings:	Lesson 9 and Chapter 8 of the course text
Assignments:	Assignments are found in the Lesson 9 Road Map under the “Lesson 9 Activities” folder of the course web site for this lesson

Lesson 10: Change Control and Configuration Management
Time frame:
Readings:	Lesson 10 and Chapter 9 of the course text
Assignments:	Assignments are found in the Lesson 10 Road Map under the “Lesson 10 Activities” folder of the course web site for this lesson

Lesson 11: Managing Project Supply Chains
Time frame:
Readings:	Lesson 11 and Chapter 10 of the course text
Assignments:	Assignments are found in the Lesson 11 Road Map under the “Lesson 11 Activities” folder of the course web site for this lesson
Online participation set -5	Online participation set-5: Question will be posted on X-DAY and is due on Y-DAY.

Lesson 12: Managing Quality
Time frame:
Readings:	Lesson 12 and Chapter 11 of the course text
Assignments:	Assignments are found in the Lesson 12 Road Map under the “Lesson 11 Activities” folder of the course web site for this lesson

Lesson 13: Integrating Cost and Value in Projects
Time frame:
Readings:	Lesson 13 and Chapter 12 of the course text
Assignments:	Assignments are found in the Lesson 13 Road Map under the “Lesson 11 Activities” folder of the course web site for this lesson

Final exam
Time Frame:
Note:	Final Exam will be administered online

Formal instruction will end on the last day of class. Provided that you have an active Penn State Access Account user ID and password, you will continue to be able to access the course materials for one year, starting from the end date of the academic semester in which the course was offered (with the exception of library reserves and other external resources that may have a shorter archival period). After one year, you might be able to access the course based on the policies of the program or department offering the course material, up to a maximum of three years from the end date of the academic semester in which the course was offered. For more information, please review the University Course Archival Policy.

Note: If you are planning to graduate this semester, please communicate your intent to graduate to your instructor. This will alert your instructor to the need to submit your final grade in time to meet the published graduation deadlines. For more information about graduation policies and deadlines, please go to the Graduation Information on the My Penn State Online Student Portal.

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Academic Integrity

 

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Policies

• Accommodating Disabilities
• Use of Trade Names
• Additional course policies

 

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Disclaimer: Please note that the specifics of this Course Syllabus are subject to change, and you will be responsible for abiding by any such changes. Your instructor will notify you of any changes.

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