Essay About Project Management And Companys Overall Objectives

Project Management 301
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PROJECT MANAGEMENT 301                              STUDENT NO: 21422361Section AQUESTION 11.1 Activity1.2 Project scope1.3 Project stakeholders1.4 Project initiation1.5 Quality management1.6 Resources1.7 Project schedule1.8 Work package1.9 Resources1.10 Risk management QUESTION 22.1 A2.2 H2.3 E2.4 F2.5 G2.6 J2.7 C2.8 D2.9 B2.10 KQUESTION 33.1.1 The process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making and is a project variable that is primarily concerned with identifying and measuring the risks associated with a project in order to manage these risks.3.1.2  Is the act of overseeing all activities and tasks needed to maintain a desired level of excellence. This includes creating and implementing quality planning and assurance, as well as quality control and quality improvement. Project variable used to ensure that a project achieves its goals and to ensure that all aspects of a project are done correctly the first time3.1.3Is the process of effectively planning and controlling the costs involved in a business. It is considered one of the more challenging tasks in business management and a form of management accounting that allows a business to predict impending expenditures to help reduce the chance of going over budget3.1.4Is a policy-driven approach to providing stakeholders with information about a project. The plan formally defines who should be given specific information, when that information should be delivered and what communication channels will be used to deliver the information. It contributes to achieving the companys overall objectives as well as creates a positive and friendly environment. Aspects of communications management include developing corporate communication strategies, designing internal and external communications directives, and managing the flow of information, including online communication3.2 Specific: The objective specifically states the construction would like to develop a prestigious residential community called Palm Groove, clear the site and install the water,electrical,telephone and drainage services, to construct a 2.5 kilometers roadway, paving and visitor parking area and to install street lightingMeasurable:1.The objective specifically states that to clear the site and install water,electrical,telephone and drainage services for the new community within six months and stating the months provides something that can be measured to show whether the objective has been achieved or not.2.To construct a 2.5 kilometers roadway, paving and visitor parking area and to install street lighting within nine months and stating the months provides something that can be measured to show whether the objective has been achieved or not.3. Construct each of the 40 new homes within 4 months after the purchaser signs the contract and stating the months provides something that can be measured to show whether the objective has been achieved or not.  Achievable: Before setting the objective the construction should have assessed its capabilities and its marketing environment to ensure that the objective is achievableRealistic: Before setting a 6 , 9 or 24 month deadline for the objective, the construction should have reviewed its resources, employees, time, money and climate to ensure that even if it rains in 9 to 24 months is realisticTimescaled: the element is achieved by the objective including a 6,9 and 24 month timescale 3.3 3.3.1 Formulation of an idea on which the project planning will focus3.3.2 Helps you improve your process, do an accurate costing of each activity and finalise the project budget3.3.3 Helps you improve your product, do a network analysis to determine the total time duration of the project3.3.4 Break the idea into deliverables, activities and / sub activities as required.3.4 It will help him control work at each levelIt can help identify time to ask and answer resource and estimating questionsIt can also help him to do an estimated budget by adding up the estimated cost of each activity in the WBSIt identifies all the deliverables required for a project and is a standard way to organize the work.3.5.1Funding institution /individual /group within or external to the performing organization that provides the financial resources for the projectProvides authority for the project to proceed guides and monitors the project in partnership with the project manager, key organizational advocate for the project. The project Sponsor will approve the project charterLeads the project through the engagement / selection process till it is formally authorized, and therefore plays a dominant role in the development of the initial scope and charter.Chairs the steering committee on large projects3.5.2In charge of successful project completion Leads and manages the project, plans, monitors, tracks, controls, documents and reports project.Managing the work of consults, allocating and utilizing resources in an efficient manner and maintain a co-operative, motivated and successful team.   Ensures that the project is delivered on time, to budget and to the required quality standard(Within agreed specifications)Ensures the project is effectively resourced and manages relationships with a wide range of groups (including all project contributors)3.5.3Provides skills, expertise, and effort to perform the task defined for the project, assists with planning and estimating project tasksThe individuals are directly involved in completing the work of the project To successfully perform the tasks that have been allocatedKeeping the project manager informed of progress as well as any issues that may ariseQUESTION 44.1.1 When coming to communication for schedule information Mark will use bar chart because is most effective and commonly used. It enables Stakeholders to easily walk through the sequencing of the project’s work