Project Scheduling and Budgeting Essay

This is to ensure that the necessary raw materials and physical resources are available at each stage, and that the workforce on site has the right skills for the scheduled work. The project management team will need to produce a series of planning documents that can be accessed throughout the project. Each member of the project management team must know their role and responsibilities, including which sections of the workforce they will be directly managing.

An old adage-plan the work and work the plan, in essence this is the key to successful project management. Project Managers (PM) must first plan out the project and then monitor and control the execution of the program work. There is a tendency for projects to short change the planning process. This is a common mistake. The time spent properly planning will result in reduced cost and duration, and increased quality over the life of the project. Using tried and true best practices for a PM will provide assurance that the program /project will be beneficial and successful.

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

Top to Down: When given the total time by project manager, higher level managers tend to squeeze the time to reduce the time and cost. Therefore, lower level manager has to give up the initial schedule to satisfy higher level managers. The finalized time depends on the complexity of the organization: the more layers, the less time to complete a project.

A project manager must be a skillful planner and can inspire his or her team to produce as needed. Per LaBrosse (2007), project management can be used throughout the organization to boost personal and collaborative productivity by building a standardized system that embeds best practices into the way projects are managed” (p.26).

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.

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 management is defined by BusinessDictionary.com as, “Approach to management of work within the constraints of time, cost, and performance requirements.” Project management requires careful planning and studying all of the factors involved with in the project. Project Managers must first establish the needs of the stakeholders and provide a project plan which includes the cost and time frame the project will be completed. In addition, projects requirements should be clear and concise to ensure the Project Manager stays within

A successful project management will include time control and cost planning. Accompany with these two important features, and then bring out the best quality project.

The project priorities are in regards what should be prioritised in the project. What is to be taking in regards in terms of cost is (budget), time (schedule), and performance (scope) of the project. What is important to emphasise on here is how these three correlate with one another. In a case where time is important it would be necessary to perform faster, which will prevent a quality outcome, hence lead to reduced costs. The importance of a project manager is to control the trade-offs between budgets and scope. The project managers functions as a link between upper management and project customers. The project manager needs to have keen understanding of project scope in order to fulfil the requirements for the customers and how prioritize the demands. The customer can also add requirements and then the manager needs to prioritize the requirements in regards to the project. An important method is to use the priority matrix to identify what is worth prioritizing more. The constrain is stick and have to be obliged to the first agreements made between the customer, this includes, the specifications and scope of the project or the budget. The enhance includes time and costs. The enhance is an essential factor seeing where to emphasize on either on reducing costs or

As an project manager in building a new international airport, important tasks of the project managers across any work scope or vertical is to ensure that the planned projects get finished well in time within the given budget and the planned time frame. Project management is one of the most high ranking areas of study and plays a meaningful role in organizations across all the scope.

Project Time Management – an estimated time for the completion of each task and based on resources, the duration is determined.

Managing a project is no easy task. A project is a series of tasks or jobs that are related to each other and directed toward a common goal or output. Projects usually require a significant time commitment, and tend to be handled by groups of workers. The employees at Craft Construction, a small business that deals with complete remodeling and some small commercial buildings, generally divide into groups of two or three workers per project. The number of employees assigned to a job usually depends on the size of the project. For each project, a project manager and a lead carpenter are assigned to handle most of the work. Project scheduling is different for every job. Smaller jobs require less planning because there is

r. Project managers are typically the link to the customer and must manage the tension between customer expectations and what is feasible and reasonable. They provide direction, coordination, and integration to the project team, which is often made up of par-time participants loyal to their functional departments. Often times, project managers must work with many different types of people, such as vendors, suppliers and subcontractors.

A key activity in project management is assessing project constraints. A project has three limitations: scope, budget and schedule. These limitations are project constraints because they are sensitive to change and have an impact on project risk. Risk is exposure to uncertain outcomes. Project constraints are mutually exclusive. If one constraint changes it affects the others and adjustments may be required to compensate and manage risks. For example, a delay in the schedule can increase the risk that the project will not finish on time. Time is money and delays have a negative impact on the budget. To