In: Accounting
Managing ia iproject iis ino ieasy ifeat, ino imatter iwhat ithe iscale iand iscope iare. iFrom iplanning ithe iminutia ito ihandling ithe iever-changing idemands iof iclients ito ishipping ithe ideliverables ion itime, ithere’s ia ilot ithat ican igo iwrong. iWhen iyou idivide ithe iproject iinto imanageable istages, ieach iwith iits iown igoals iand ideliverables, iit’s ieasier ito icontrol ithe iproject iand ithe iquality iof ithe ioutput.
Phase i1: iProject iinitiation
The iproject iinitiation iphase iis ithe ifirst istage iof iturning ian iabstract iidea iinto ia imeaningful igoal. iIn ithis istage, iyou ineed ito idevelop ia ibusiness icase iand idefine ithe iproject ion ia ibroad ilevel. i
Phase i2: iProject iplanning
The iproject iplanning istage irequires icomplete idiligence ias iit ilays iout ithe iproject’s iroadmap. iUnless iyou iare iusing ia imodern iproject imanagement imethodology ilike iagile iproject imanagement, ithe isecond iphase iof iproject imanagement iis iexpected ito itake ialmost ihalf iof ithe ientire iproject’s itimespan.
Phase i3: iProject iexecution
The iproject iexecution istage iis iwhere iyour iteam idoes ithe iactual iwork. iAs ia iproject imanager, iyour ijob iis ito iestablish iefficient iworkflows iand icarefully imonitor ithe iprogress iof iyour iteam.
Phase i4: iProject imonitoring iand icontrolling
In ithe iproject imanagement iprocess, ithe ithird iand ifourth iphases iare inot isequential iin inature. iThis iphase iruns isimultaneously iwith iproject iexecution, ithereby iensures ithat iobjectives iand iproject ideliverables iare imet.
As ia iproject imanager, iyou ican imake isure ithat ino ione ideviates ifrom ithe ioriginal iplan iby iestablishing iCritical iSuccess iFactors i(CSF) iand iKey iPerformance iIndicators i(KPI).
During ithe imonitoring iphase iof iproject imanagement, ithe imanager iis ialso iresponsible ifor iquantitatively itracking ithe ieffort iand icost iduring ithe iprocess.
Phase i5: iProject iclosing
This iis ithe ifinal iphase iof ithe iproject imanagement iprocess. iThe iproject iclosure istage iindicates ithe iend iof ithe iproject iafter ithe ifinal idelivery. iThere iare itimes iwhen iexternal italent iis ihired ispecifically ifor ithe iproject ion icontract..
Most iteams ihold ia ireflection imeeting iafter ithe icompletion iof ithe iproject iin iorder ito icontemplate ion itheir isuccesses iand ifailures iduring ithe iproject. iThis iis ian ieffective imethod ito iensure icontinuous iimprovement iwithin ithe icompany ito ienhance ithe ioverall iproductivity iof ithe iteam iin ithe ifuture.
Project imanagement iobjectives
project imanagement iobjectives iare ithe isuccessful idevelopment iof ithe iproject’s iprocedures iof iinitiation, iplanning, iexecution, iregulation iand iclosure ias iwell ias ithe iguidance iof ithe iproject iteam’s ioperations itowards iachieving iall ithe iagreed iupon igoals iwithin ithe iset iscope, itime, iquality iand ibudget istandards.
v The isuccessful idevelopment iand iimplementation iof iall iproject’s iprocedures. iA iproject, iregardless iof iits isize, igenerally iinvolves ifive idistinctive iphases iof iequal iimportance: iInitiation, iPlanning iand iDesign, iConstruction iand iExecution, iMonitoring iand iControl, iCompletion..
v Productive iguidance, iefficient icommunication iand iapt isupervision iof ithe iproject’s iteam.. iTo ithis iend, ithe iestablishment iof igood icommunication iis iof imajor iimportance. iOn ione ihand, iinformation ineeds ito ibe iarticulated iin ia iclear, iunambiguous iand icomplete iway, iso ieverything iis icomprehended ifully iby ieveryone iand ion ithe iother ihand, iis ithe iability ito ibe iable ilisten iand ireceive iconstructive ifeedback.
v The iachievement iof ithe iproject’s imain igoal iwithin ithe igiven iconstraints. iThe imost iimportant iconstraints iare, iScope iin ithat ithe imain igoal iof ithe iproject iis icompleted iwithin ithe iestimated iTime, iwhile ibeing iof ithe iexpected iQuality iand iwithin ithe iestimated iBudget..
v Optimization iof ithe iallocated inecessary iinputs iand itheir iapplication ito imeeting ithe iproject’s ipre-defined iobjectives, iis ia imatter iwhere iis ialways ispace ifor iimprovement. iAll iprocesses iand iprocedures ican ibe ireformed iand iupgraded ito ienhance ithe isustainability iof ia iproject iand ito ilead ithe iteam ithrough ithe istrategic ichange iprocess. i
v Production iof ia icomplete iproject iwhich ifollows ithe iclient’s iexclusive ineeds iand iobjectives.. iOnce ithe iclient’s iaims iare iclearly idefined ithey iusually iimpact ion iall idecisions imade iby ithe iproject’s istakeholders. iMeeting ithe iclient’s iexpectations iand ikeeping ithem ihappy inot ionly ileads ito ia isuccessful icollaboration iwhich imight ihelp ito ieliminate isurprises iduring iproject iexecution, ibut ialso iensures ithe isustainability iof iyour iprofessional istatus iin ithe ifuture.
Project imanagement iis ia iflourishing ifield ithat ikeeps igrowing iin iknowledge iand iinterest iat ia iconsiderable irate. iUnderstanding iproject imanagement iobjectives iin-depth iis ithe ifirst istep ito isuccess, ias iyou iwill ifully irealize iwhat iit itakes ito ibe iefficient, ieffective iand icompetitive iin ia ishifting, icomplex iand iat itimes iunpredictable ienvironment. iDue ito ithe inature iof iproject imanagement, iwhich idiffers ifrom itypical imanagement iby ithe iinnovative, iunique iand imultidisciplinary icharacter iof imost iprojects, iit iis igenerally iagreed ithat iit irequires iits iown itools iand itechniques. iKeep iin imind ithat ithese itools iand itechniques ido inot iapply ito iall iprojects, iso imake isure iyou ichoose iwisely iand iadjust iaccordingly. i i
project ideliverables
The iproject ideliverable iis ia ispecific ioutput ielement ithat’s ia iresult iof ideliberate iwork idone iduring ithe iproject. iA ideliverable imust ibe iwithin ithe iscope iof ithe iproject iand iit ishould ihave ia idefinite irole iin iaccomplishing ithe iproject’s iobjectives.
The ideliverables ican ibe ithe iprimary iobjective iof ithe iproject iitself, ispecific ifeatures iand ifunctionalities, ias iwell ias ithe idocumentation ithat iarise iout iof ithe iprocesses iin ithe iproject. iThis iincludes ithe isigned icontracts, ithe iproject iplan, ithe iexpense istatements, iand ireports ithat ishow ihow ithe iproject iis imoving iforward.
All iprojects ihave ideliverables. iThey iserve ito iclarify ithe iproject’s iobjectives iand ithe iactivities irequired ito iget ithere.
Milestone iin iProject iManagement
A iproject imilestone iis ia imanagement itool ithat iis iused ito idelineate ia ipoint iin ia iproject ischedule. iThese ipoints ican inote ithe istart iand ifinish iof ia iproject, iand imark ithe icompletion iof ia imajor iphase iof iwork. iMilestones ican ibe iused ito isymbolize ianything ithat ihas istarted ior ifinished, ithough iit’s iprimarily iused ias ia ischeduling itool.
If ia imilestone ifocuses ion imajor iprogress ipoints iin ia iproject, iyou ican isee ihow iit iis iuseful iin ischeduling. iJust ias itasks ibreak ia ilarger iproject iinto imanageable iparts, imilestones ibreak ioff ichunks iof ia iproject ito imake iit iless idaunting.
A imilestone iis ia ispecific ipoint iin itime iwithin ia iproject ilifecycle iused ito imeasure ithe iprogress iof ia iproject itoward iits iultimate igoal
Deliverable ivs. iobjective ivs. imilestone
The iproject iobjectives idefine ithe ibenefits, ioutcomes, iand iperformance iimprovements ithat iare iexpected ifrom ithe iproject. iThe iobjectives ifocus ion ithings ithat iare iexternal ito ithe iproject..
The iimportant idistinction ibetween imilestones iand ideliverables iis ithat iproject imilestones idon’t irequire isomething ito ibe idelivered ito iboth iclients iand iinternal istakeholders. iThey’re icheckpoints iin ithe icourse iof ithe iproject iand iare iusually ithe ithreshold ito ia inew iphase..
Technical iRequirements iin iProject iManagement
Technical irequirements iare ithe itechnical iissues ithat imust ibe iconsidered ito isuccessfully icomplete ia iproject. iThese iare iaspects isuch ias iperformance, ireliability, iand iavailability ithat iyour iproject imust imeet ion iin iorder ito iproceed iwith ia iproject. iIn isoftware iprojects, itechnical irequirements itypically irefer ito ihow ithe isoftware iis ibuilt, ifor iexample: iwhich ilanguage iit's iprogrammed iin, iwhich ioperating isystem iit's icreated ifor, iand iwhich istandards iit imust imeet.
Project imanagement itechnical irequirements iinclude ithe ielements iof iproject istrategy, iimplementation, iinitiation iand idocumentation.. iA istrong iproject imanagement ifunction iwith itechnical irequirements ican isave ian iorganization imoney, itime iand iresources iwhen ideveloping ia iproject.
Project iPlanning
The ifirst itechnical irequirement iof iproject imanagement iis ito iestablish iproject iplanning istandards.. iPlans ishould ihighlight iand idescribe imanagement isystem iprocesses i(organizational imanagement), ibenefits iand iweaknesses, iinformation imanagement iresources iand inetwork irequirements. iAt ithis ilevel, iproject igoals iare iestablished iand icommunicated ithroughout ithe iorganization.
Configuration iManagement
Configuration imanagement iis ia icontroller ifunction ithat imonitors iabrupt ichanges ior idelays iin ia iproject imanagement iplan. iWhen ia iproblem ihas ioccurred iduring ia iproject ithat imay icause idelays iin ithe iproject, ithis itechnical irequirement ianalyzes ithe ibaseline ineeds iof ithe iproject iand isuggests ialternate iplans ito iavoid idisruption.
Quality iAssurance
At ievery istep iof ia iproject imanagement iplan, iquality iassurance ishould ibe iimplemented ito iensure ithose iinvolved iare ifollowing iprocedures. iEvery itechnical irequirement ishould ihave ia iquality iassurance iinspection ior iaudit ichecklist ito ireview idifferent iprocesses iof ithe iplan. iFor iexample, ithe iconstruction iof ia inew ihighway imust ihave iquality iassurance imodules iimplemented iin ithe iarea iof iconstruction iand ipublic isafety..
Documentation
Documentation iincludes idescriptions iof icurrent isystems, iprocedures, iamendments iand ithe iuse iof iinformation isystems iin ia iproject imanagement ienvironment. iWithout idocumentation, ithere iis ino ireference ior ihistory iof iactivities iof iproject idevelopment. iDocumentation ican ibe iused ias ia iresource ito ihelp iproject imanagers ior iengineers iunderstand ithe i"big ipicture" iof ithe iproject iand iwhere icertain iactivities ifit. iDocumentation ialso iincludes iexception ireports, iwhich iprovide ipersonnel iwith i"what iif" iand i"decision isupport" iinformation. iAutomated iprograms ican iprovide ivarious iPERT i