Project Planning Tools And Controlling

We committed to the customer to re-address releasing the requested funds in 60 days when we are a little closer to completion. The project must continue to run smoothly and every precaution should be taken.

The Scope, Schedule and the Resources influence the outcome of the project of in several different ways. The Scope brings into focus and shows you were the head manager expects you and your team to accomplish within a certain amount of time or keep it within a certain budget. The time frame or the schedule of production can become very helpful or harmful, it solely depends on how you the project manager handle and manage the process of production and the stress and performance of your employees. The best way to stay on schedule with your employees is by motivating them to do the best they can do at their job and make it a goal for your work group of employees to bet the original deadline set by the upper level managers. Resources are a vital aspect of the whole operation because the timing and scheduling of the whole production operation

The key to a successful project is in the planning. Creating a project plan is the first thing we should do when undertaking any kind of project. A project plan can allow a Project Manager to complete a project within a specified timeline and a specified budget.Reaching these important goals, will make the project customer happy and help the organization to build a good relationship with the customer for future projects. Project planning is fundamental in order to avoid failure and disappointment. In project management, effective planning is absolutely required if the individual or group wishes to deliver a finished project on time and on budget. From a Project Management article (http://www.brighthub.com/office/project-management/articles/40904.aspx) I read that during the project planning phase, plans are developed in the form of project baselines for schedule, cost, scope, quality and risks, all of which are components of the overall project plan. This gives the Project Manager basis for monitoring project progress and upon which to base decisions necessary for managing changes needed to help get the project back on track.

budget. As the project evolves, additional information is discovered and further estimates are produced. This is an extremely important process and we cannot emphasize enough the need for this re‐estimation or re‐budgeting process at each phase of the project. In any case, for the purpose of this article, we will call the revised budget the "actual budget." Another standard activity is to provide management with an expected cash flow. From a financial perspective this is an important activity, but it also can be used as your cost expectation.

There are several different types of schedules that can be as simple as a “To do List” or as complex as a plan for a construction project.

(TCO C) As a project manager you are constantly concerned with keeping the project on schedule and in budget. Four formulas used to measure project schedule and budget are CPI, SPI, CV, and SV. Define each formula, explain how it measures schedule or budget, & what the results mean to the project manager.

Georgia Lazenby believes a current liability is a debtthat can be expected to be paid in one year. Is Georgiacorrect? Explain.

Scheduling is setting a timeline within which tasks will be carried out. Scheduling involves converting the tasks in the work breakdown schedule and network diagram into an achievable timetable with start dates, finish dates and assigned responsibilities for each task. (Campbell, Project Management for MIS,

2. Recommendations: Every budget and project needs a budget. The budget will help with planning and ensure that the team is keeping expenditures under control and also will give the team a target of what needs to be accomplished. The first question the team should ask before undertaking a project is “how much is this going to cost and what the value is to the company? The company needs to have a cost benefit analysis to find out if the cost of the project is justified by the value and benefit it brings into the organization. The projects are supposed to be approved by the finance department before they are undertaken to ensure that there are funds to fund the project.

The primary purpose of planning, is to establish a set of directions in sufficient detail to tell the project team exactly what must be done, when it must be done, what resources will be required to produce the deliverables of the project, successfully, and when each resource will be needed (Jack R .Meredith & Samuel j. Mantel, 2009). Budgeting and cost estimating are important tools when doing a project plan. A budget is always needed in the plan. A budget is a plan for allocating resources. Thus, according to Jack R Meredith the act of budgeting is the allocation of scarce resources to the various endeavors of an organization. (Jack R .Meredith & Samuel j. Mantel, 2009)

Planning is a key for a successful project. It sounds like the Tiger Team project slipped the schedule and ran over budget because of a large project scope or may be because of keep changes in the project scope.

The budget is an indispensable process for the project management, and it describes the estimated costs of different categories of almost all of the activities in project. An inappropriate budget for the corresponding costs will affect the overall success of the project(Dvir et al., 2003).

project mostly beginning and end is defined, it has a definite budget and time allocated for the

Time Management- There will be set up the timing for the completion of each task because the success can only be gained by scheduled work.

Goal related projects should also be given budgets. Each initiative should have projected costs associated with the goals. This is where the cost of all goals is incorporated into the annual budget. Projections of costs should be identified, laid out and incorporated into the departmental budget that is responsible for completing the goal.