Principles of Project Management

1) Importance: The project must have the senior management buy in, without this a project will fail when problems first arise.

Key outputs in this phase are the Projects Requirements definition, the capability and capacity assessment, project delivery strategy and the Project Management plan. The role of the construction/ project manager in this phase is, once project authorized, it is the project manager’s responsibility to implement the project. In terms of the Project Requirements Definition the, the project manager refines and details the project authorization and details what the project is required to accomplish in terms of the products/services the project will deliver and the scope of work that needs to be done. The project manager must provide project team members, corporate sponsors, and other stakeholders with a common understanding of what the project is all about, and is the authoritative reference document that defines the project.

The paper is divided into three sections, the first of which will establish a timeline of events. This project background will serve as a case study for the analysis in the following section that will be structured such that each of the previously mentioned facets will be independently analyzed and contrasted with project management principles. Finally the paper will conclude with a summary of the analysis and recommendations based on

A Methodology is a model which the managers employ in the design, implementation and achievement of their project objectives. It contains the guidelines required for managing a project.

The process of Project Management is very detailed – there are multiple phases to properly manage the project (e.g., project plan, schedule, communication plan, risk management plan, and

Project ____ work with the project sponsors, the project team, and the other people involved in a project to meet project goals.

This paper was prepared for Fundamentals of Project Management, Module 2 Check Your Understanding taught by Dr. Levern Eady.

Justify the influence of stakeholders in the project management plan and their role in communication planning.

2- Project Scope: "The finite set of correct end products, deliverables, or outputs that the project team undertakes to provide to the client (the owner or sponsor) of the project" (Kerzner & Black

The required work to be performed and goals that define and bind the project by doing the following:

22. Many activities have slack time; if we add these slack times together, this represents the potential improvement in early completion for the project.

While projects can be similar in some instances, no two projects are ever the same. For this reason, management of projects requires the application of tools and techniques to meet the goals of the temporary endeavor. Project managers apply these tools and techniques to determine what is required for project delivery such as the list of activities to completed, the time required to complete the activities, resources needed and the various risks associated with the deliverable and efforts. A multitude of tools and techniques are employed by the project manager based on the need of the effort to organize, identify and communicate the various aspects of the project. While in contrast, the repetitive nature of operations activities

During the project initiation phase, I can work collaboratively with the project sponsor in the development of project charter and lead up to the formal authorisation of the project/ new phase. From the sponsor’s project SOW (Business need, product scope), Business case etc., I can identify measurable project objectives, high level requirements, risks, summary milestones and budget and approval authorities. The key deliverables in this phase are project charter and stakeholder lists.

The Risk Assessment will be continuously monitored and updated throughout the life of the project, with monthly assessments included in the status report (see Communications Plan) and open to amendment by the Project Manager.

In order to achieve their business objective, project management and the used methodology are key factor which will be responsible for the success or failure of this project.