Project Management

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Annie E


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June 28, 2016







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Projects are a small part of the big picture. The table below briefly describes various process involved in project management and summarizes the activities of each phase. Table 1: Project Management Processes Initiating Planning Executing Controlling Closing Conduct feasibility study Identify project vision Create project charter Create project plan Elaborate on project scope Identify and allocate resources required for project Coordinate people and other resources to carryout the plan Ensure project objectives are met by monitoring and measuring progress Take corrective actions when necessary Formalize acceptance of the project and bring it to orderly end Capture key learning Any project needs to balance the constraints related to scope, time and cost and any change in one of these factors will impact other factors...
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In addition, quality is considered as the fourth constraint. The goal of project management is to ensure the project is on-time and on-budget while delivering the stated objectives. Typical metrics used to measure project performance are schedule variance, effort variance, budget variance, and defects (nonconformance to requirements)...
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