Key Factors For A Succesful: Project Management

Key factors for a succesful:

Project Management

(Summary of Project mangement programme from the Management view)

• Chapter 5:

- Project scope is everything about a project – work content as well as expected outcomes.

- Scope management is the function of controlling a project in terms of its goals and objectives and consists of:

1) Conceptual development 4) Scope reporting

2) Scope statement 5) Control systems

3) Work authorization 6) Project closeout

- SOW is a detailed narrative description of the work required for a project.

Effective SOWs contain

1. Introduction and background

2. Technical description

3. Timeline and milestones

4. Client expectations

- WBS is a process that sets a project’s scope by breaking down its overall mission into a cohesive set of synchronous, increasingly specific tasks.

What does WBS accomplish?

1. Echoes project objectives

2. Offers a logical structure

3. Establishes a method of control

4. Communicates project status

5. Improves communication

6. Demonstrates control structure

• OBS (Organizational Breakdown Structure)

Links cost, activity & responsibility and allows:

1. Work definition

2. Owner assignment of work packages

3. Budget assignment to departments

• Chapter 6 and 7:

- Conflict is a process that begins when you perceive that someone has frustrated or is about to frustrate a major concern of yours.

Categories

1. Goal-oriented

2. Administrative

3. Interpersonal

Views

1. Traditional

2. Behavioral

3. Interactionist

- Risk management is the art and science of identifying, analyzing, and responding to risk factors throughout the life of a project and in the best interest of its objectives.

- Project risk refers to any possible event that can negatively affect the viability of a project

- Process of risk management.

1. What is likely to happen?

2. What can be done?

3. What are the warning signs?

4. What are the likely outcomes?

* Project Risk = (Probability of Event)(Consequences of Event)

* 4 stages.

1. Risk identification

2. Analysis of probability and consequences

3. Risk mitigation strategies

4. Control and documentation

- Project Risk Analysis & Management (PRAM)

Extends risk management over project’s life cycle

Key Features of PRAM

1. Risk management follows a life cycle

2. Risk management strategy changes

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