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Characteristics of a project lifecycle
The project life cycle comprises which of the following
Project management techniques
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“Project definition provides a complete understanding of project and serves to guide the project Manager and project team in planning and implementation. It also provides the basis of decision making for executives who need to evaluate the potential for project success and completion on time, within budget, and according to performance specifications.”(Hill 2008) This report statement defines the requirement of a project. Such as, • Why it is necessary. • What will be done? • How, when and where the project will be accomplished. • What is the resource requirement? • And what are standards and procedures to follow. Project Charter “Project Charter is signed by the senior manager who has functional authority over all the resources and organizations working on a project. The principal function of the project charter is to name the project manager and authorize him or her to lead the project”. (Meredith & Mantel 1995) Project Manager’s Name- Miss. Chapa Madanayake Project Name- New Computer Centre of Commonwealth Institute of Computing (CIC) Project statement – To expand the institute and provide a better environment for students to learn Commencement date- 7Th July 2014 Completion Date- 6th January 2015 Estimated Project Expense-Rs.16, 211,050 Estimated Project Duration- 7 months Purpose of the project The purpose of this Project Definition Document is to provide a brief overview of the new computer center of Commonwealth Institute of Computing (CIC) to promote a shared understanding of it before a more detailed Plan, Schedule, and Budget is prepared. This document also describes the business reasons for the project and / or the business issues that this project is planning to address. Problem /Opportunity Problems- Funding ... ... middle of paper ... ...No major fluctuations in exchange rates. Constraints Lack of adequate resources to perform the tasks Technological problems. Cannot use heavy machineries with noise. Risks Problems due to unskilled and untrained labor Safety issues Not being able to conclude the project with in the estimated budget and time. Estimated cost Estimated cost of the new computer center project is Rs. 16,211,050. Estimated Duration Estimated Duration of the new computer center project is 129 Days. Project Starts from 7th July 2014 and finish the project on 6th Jan 2015 Question 2 Work Break down Structure Work Break down Structure analyzes a project with the intention to identify the deliverables required to complete the project. WBS, is utilized at the beginning of the project to define the scope, estimate costs and organize Gantt schedules.
Five issues will be told in this report. The first issue identifies which types of capital expenditure projects will be selected to achieve GSCЎ¦s objective, and the performance result. Second, to obtain a computer system, GSC can be either financed by bank loan or leased from Computer Company. Third, use the probability technique to calculate the budgeted admission price for the first year. The forth issue, concerns with how GSC can breakeven without support from the government. The last issue considers overall elements to set up a price policy for the gift shop. We attempt to figure out these issues as existing puzzle.
What differentiates a list of project requirements from a Work Breakdown Structure (WBS)? A work breakdown structure is a key project deliverable that organizes the team 's work into manageable sections. The Project Management Body of Knowledge. defines the work breakdown structure as a "deliverable oriented hierarchical decomposition of the work to be executed by the project team”.
The project charter is a document issued by the sponsor that authorizes the project manager to spend the budget and apply organizational resources to the project (PMBOK, 2013). The project charter contains key information such as milestones, assumptions, and constraints (see Appendix A). Although the project charter in Appendix A does not list the end users as a stakeholder, they are still considered customers but have no influence on the project budget or project completion time.
Budget: - The total budget of our project will be 7million dollars. Metrolinx, LRT are the sponsors of our project. They will provide us the total amount to complete the project work.
Achieving the anticipated outcome of cost, time, and quality are traditionally what determines the success or failure of a project (Chipulu et al., 2014). Project success is dependent on the support of senior management, but their involvement in projects and understanding of project management methodologies is perceived to be inadequate by project managers (Ancosky, 2013) or lack of proper governance makes them ineffective (Young & Poon, 2013).
Harvard Business Review Press (2012). HBR Guide to Project Management. Boston, Massachusetts: Harvard Business School Publishing Corporation. P123-124
These include: Project Mission – the initial clarity of the goals and general direction; Project Schedule/Plans – a detailed specification of specific individual action steps required for project implementation; Top Management Support – the willingness of top management to provide the essential resources and authority for project success; Client Consultation – communication, consultation, and active listening to all impacted parties; as well as Personnel – recruitment, selection, and training of the essential personnel for the project team; Technical Tasks – availability of the required technical Expertise
Project Management- is the management of time, people, tools, budget, and logistics of an assignment. Cost-Benefit Analysis- is the projection of the costs and benefits of options for a project, in order to pre-determine the most feasible plan of execution. Critical Path – are partial tasks or steps which are individually and timeously carried out to ensure the completion of the whole project within the assigned timeframe. Gantt chart – this is a list of tasks and responsibilities which help monitor and manage the progress and order of which a project will be implemented. A definition from the Association for Project Management (n.d.), states that, Project Management is the application of processes, methods, knowledge, skills and experience to achieve project objectives.
The project manager is responsible for the overall success of the project. For instance, he / she must negotiate with the functional manager for the resources since they are always limited. In addition, they have to fight for the assigned resources whenever there are some changes of a project due to operational requirements. Furthermore, they have to take care the future of the personnel and should assign personnel to the project based on the resources acquired. Assigning staff towards a project team would be based on their experience and knowledge. Traditionally, the personnel who work on the project should report to the functional manager. It is not an easy task for the project manager to gain the cooperation and commitment of these personnel who are not directly reported to him or her. The project manager also required to negotiate regularly with senior managers regarding project priority and their commitment. All the work mentioned could lead to
A project may be defined as a one-shot, time-limited, goal-directed, major undertaking, requiring the commitment of varied skills and resources. A project has also been described as "a combination of human and nonhuman resources pulled together in a temporary organization to achieve a specified purpose." A project has a single set of objectives, and when these objectives are reached, the project is completed. Therefore, a project has a finite and well-defined life span. In addition, management must have a very clear idea as to what these objectives are so that there can be no question as to when the project is completed.
Project manager is the person who does planning and schedules project task and day to day management of project execution. They play a vital role in each phase of the project life cycle. However, there is always a chance of cancellation or delay of the project in the team work because of the disfunctionality of the team and the team leader. Team leader has power on individuals in a team who reports directly to the project manager who must adopt five important roles that is initiator, model, negotiator, ...
A project is a transformation process within the organisation. It is a changing process inside the organisation and it sometimes has a definition like a ‘modernisation process’ (IOT avoid peoples resistance to the changing process)
The Project Approach offers employees a way to motivate and encourage. This kind of motivation will increase their productivity and satisfaction. Project work presents many opportunities for employees’ expectations to reduce the amount of work and time. Project approach should be a suitable way to explore these issues and met the project objectives.
Defining the project scope is identifying all the work in details that the project will accomplish in order to achieve its final goal. The work includes the activities identified in the Log frame and the activities the project team has identified that will be necessarily to support the project and all the other circumstances surrounding that delivery of the project. Scope is very important in the definition of project requirements at the start of project life cycle and missing any part of the scope can cause unforeseen extra cost and variation to the project cost and even the final product, get something totally different than you would expect. Effective scope management is one of the key factors produce the project success.
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.