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This category is designed especially for project management students. Here you will find all the basic to advanced theoretical concepts along with relevant examples regarding project management studies.
Project Purpose The purpose behind building this flutter application was to provide an interactive and transparent platform for the most prominent welfare society “Project Topi “. This Application will help the Society “Project Topi” in their campaign reach and help them in collection of more donations due to a trans. Product Scope This is a …
3 Stages of Project Success Criteria Implementation 3 Stages of Project Success Criteria Success of a Project is measurable at three Stages: Stage 1 (Output): Successful completion of Project in terms of Sextuple Constraints (Scope, Time, Cost, Quality, Resources, and Risk) Stage 2 (Outcome): Successful Project Outcomes using product the project has produced, like Stakeholder …
Project Flow Chart Flow Charts represent relationships among the Activities and Tasks that make up a project process. Uses: Determine COQ Study the Steps of a Process leading to a Quality defect Make Changes to the Process with a Quality defect Consider flow diagram for a simple project of painting a house Define Flow Chart, …
Managing and Controlling Project Resources As the Project progresses, the Project Manager must acquire all the resources (human, machine and material), train and manage human resources, and control all the resources. Specifically, Internal Resources are acquired from Functional or Resource managers, depending on the Org. External resources are acquired through the Procurement processes Acquired Resources …
Tools & Techniques for controlling Quality All the Tools & Techniques are used for implementing Quality, specifically Fishbone, Pareto, Run & Control Charts, Check & Tally Sheets, etc. In addition: 1. Root Cause Analysis (RCA) It is used to identify the causes of Quality problems, including defects, to determine how they can be remedied. The …
Monitoring Project Schedule As the Project progress, activities are started and completed as per the Schedule Baseline. Any delays may have Cost implications or incur Penalties (Liquidated Damages) in accordance with the Contract. Specifically: EVA KPIs indicate the Status of Project Schedule-wise. Relevant KPIs are SV tu, SPI tu, SV mu & SPI mu, SV% …
Project Execution The Planned Project Activities are executed to complete the Project Deliverables and the Project Objectives. Project Monitoring Tracking the Project to see where it is. Key Performance Indicators (KPI) help monitor the Project Monitoring a Project with EVA KPIs Project Evaluation Reviewing the Project to see where it ought to be and what, …
Project Quality Objectives Quality Objectives are the goals set for the Project Deliverables (products, services, and results) or its Processes. Some of the common types of quality objectives on a construction project could be: Overall Ensure grade-1 construction and furnishing standards Defects A goal for conformance to specifications such as 0.1% of items failing quality …
Project Quality Management Basic Concepts Quality Management System (QMS) The system of creating and following organizational Policies and Procedures and tailoring them to ensure the Project also meets the needs of the Customer Quality Assurance (QA) Part of the QMS that aims to provide confidence that Quality requirements are being fulfilled and is targeted at …
What are project meetings? Project meetings are face-to-face or virtual meetings held to make decisions, respond to Stakeholder Requests, discuss Project matters of mutual interest with suppliers, vendors, and other project stakeholders. Project Meeting types Following meetings are held on a project: Procurement Meetings Like Pre-Bid Conference, Bid Opening, Contract Negotiations, Contract Review Meetings, Procurement …
Define project communication Project Communication is exchange of project information. Purpose of project communication is to meet the communication needs of stakeholders; A project manager spends about 90% of his time communicating. Project communication may be: 1. Internal Communication Communication with stakeholders within the project and within the organization 2. External Communication Communication with external …
Risk Management Steps Risk Identification -Planning Risk Analysis –Planning Planning Risk Response –Planning Implementing Risk Response –Executing Monitoring Risks –Mostly Executing 5 Step Approach to Risk Management – Detailed Discussion Step 1: Risk Identification Risk Identification involves identifying: Individual project risks Sources of overall project risk Risk identification can be done by a large number …
20 Major Concepts of Project Risk Management with Examples Risk Management It is the process of Identifying Risks, evaluating them, Planning & Implementing Responses to Risks, and Monitoring all these processes Project Risk An uncertain incident that may occur or has already occurred during any stage of project work is known as a risk. Also …
Cost Reimbursable Contracts Also known as Cost Plus (CP) contracts. In Cost Reimbursable Contracts, the Seller is reimbursed for completed work plus a fee representing his profit The Seller produces the original invoices to ascertain actual costs incurred Scope Creep is an inherent drawback of this contract, especially when the requirements are unclear Cost Reimbursable …
What is a Contract? A contract is a mutually binding agreement that obligates the Seller to provide the specified products, services, or results; and obligates the Buyer to pay the Seller for the said products, services, or results. It represents a legal relationship that is subject to remedy in the courts. Contract Types Contract Types …
Reasons for Project Procurement Scarcity/Unavailability of in-house Competence Cost constraints Less Requirement (Cost Effectiveness) Time constraints Brand preference Project Procurement Concepts & Outsourcing Reasons Important Procurement Concepts Bidding It is the entire process from the time the Buyer/Seller advertises his intention to buy/sell goods or services to the signing of Agreement between the Buyer and …
Conflict Resolution Conflicts on a Project are inevitable and need to be resolved in a timely manner and constructive way to achieve a high-performing team Influencing It is being persuasive and being able to acquire the required resources for the Project; achieved through clear articulation of points, active listening, data collection, awareness of all points …
In Tuckman’s model a team goes through five stages of growth on their way to becoming a cohesive and productive team: Forming The Project Manager provides the team with guidance and structure. Storming If team members are not collaborative or open to differing ideas and perspectives, the environment can become counterproductive, leading to conflicts. The …
When to perform earned value analysis? Any time At Actual completion of Activities, Work Packages or at Actual Milestones (best) Key Terms in earned value analysis: Current Schedule & Cost Performance Budget at Completion (BAC) Planned Value (PV) Earned Value (EV) Earned Schedule (ES) Actual Cost (AC) Actual Time Schedule Variance & Performance Index wrt …
Precedence Diagram A Diagram in which Activities are represented as Nodes, linked by Arrows which represent sequence in which activities stop or start is called precedence diagram. PDM includes four Dependencies (Precedencies) or Logical Relationships between Activities Finish-to-Start Start-to-Start Finish-to-Finish Start-to-Finish Predecessor Activity is the one that logically (chronologically) comes before the Successor Activity A …
Tools for Project Resources Estimation with Examples Tools for Project Resources Estimation Rough Order of Magnitude (ROM) Estimation Analogous Estimation of resources Parametric Estimation of project resources Three-Point Estimation: Triangular Estimation (Simple Average) Beta Estimation (Weighted Average) Points to Note: Each method has strengths and weaknesses Estimation should be based on several methods, which should …
Project Scope Project scope is the combination of both product and non-product scope. Product Scope + Non-Product Scope = Project Scope ‘Non-Product Scope’ (‘HOW’ of the Product) How to achieve the Product: Planning, Execution, Management, Logistics etc.) Product Scope (‘WHAT’ & ‘WHAT NOT’ of the Product) Note: Scope ‘Exclusions’ must be in context & realistic …
What is a Stakeholder? Anyone who affects or get affected in any way by an organization like organizational decisions, its products/services or its deliverables is considered as a stakeholder. It can be an internal stakeholder or outside the organization. Define Stakeholder, its types and engagement strategies Internal vs External Stakeholders Sponsor (External/Internal) Project Team (Internal) …
Schedule compression techniques are used to bring project back on Planned Schedule (Schedule Baseline) by Fast Tracking or Crashing the Schedule for the Remaining Work Crashing If schedule compression is required, then critical path activities are adjusted by adding or removing some activities from it without changing the actual project scope. Trades Time for Money; …
Project Life Cycle The sequence of stages a project undergoes from its start till completion is considered as project life cycle: Concept Development → Feasibility Study → Design → Prototype → Build →Test → Handover (Close) However, most literature depicts the Life Cycle in terms of the 5 overlapping Process Groups which represent activities performed …
Thorough Definition of a Project with Examples A Project is a one-time venture undertaken to create a distinctive Product, Service or deliverable → Product, Service or Result as known as Deliverable Detailed Elaboration of Project definition Temporary (one-time endeavor means) One-Time, with definitive Beginning & End A Project ends when the project’s objectives have been …
List of 40 Activities for Network Diagram Project Here is the list of 40 activities to make a network diagram and network table for your stats, operation research or project management assignments or final projects. Topic Name; A Trip to Neelam valley and Azad Kashmir The Trip has been arranged by Muhammad Taha. He is …