Project management

Project management is the practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria at the specified time.

Project planning generally consists of [32]. There are also several extensions to project planning, for example based on outcomes product-based or activities process-based. If performed correctly documentation can be the backbone to a project's success. The project manager's desk reference:

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Unlike SEI's CMM, the OPM3 maturity model describes how to make project management processes capable of performing successfully, consistently, and predictably in order to enact the strategies of an organization. Project production management is the application of operations management to the delivery of capital projects. Benefits realization management BRM enhances normal project management techniques through a focus on outcomes benefits of a project rather than products or outputs, and then measuring the degree to which that is happening to keep a project on track.

In addition, BRM practices aim to ensure the alignment between project outcomes and business strategies. The effectiveness of these practices is supported by recent research evidencing BRM practices influencing project success from a strategic perspective across different countries and industries.

An example of delivering a project to requirements might be agreeing to deliver a computer system that will process staff data and manage payroll, holiday and staff personnel records. Under BRM the agreement might be to achieve a specified reduction in staff hours required to process and maintain staff data.

Earned value management EVM extends project management with techniques to improve project monitoring. It illustrates project progress towards completion in terms of work and value cost. Earned Schedule is an extension to the theory and practice of EVM. Traditionally depending on what project management methodology is being used , project management includes a number of elements: Regardless of the methodology or terminology used, the same basic project management processes or stages of development will be used.

Major process groups generally include: In project environments with a significant exploratory element e. An example is the Phase—gate model. The initiating processes determine the nature and scope of the project. The key project controls needed here are an understanding of the business environment and making sure that all necessary controls are incorporated into the project. Any deficiencies should be reported and a recommendation should be made to fix them.

The initiating stage should include a plan that encompasses the following areas. These areas can be recorded in a series of documents called Project Initiation documents. Project Initiation documents are a series of planned documents used to create order for the duration of the project.

These tend to include:. After the initiation stage, the project is planned to an appropriate level of detail see example of a flow-chart. As with the Initiation process group, a failure to adequately plan greatly reduces the project's chances of successfully accomplishing its goals.

Project planning generally consists of [32]. Additional processes, such as planning for communications and for scope management, identifying roles and responsibilities, determining what to purchase for the project and holding a kick-off meeting are also generally advisable. For new product development projects, conceptual design of the operation of the final product may be performed concurrent with the project planning activities, and may help to inform the planning team when identifying deliverables and planning activities.

While executing we must know what are the planned terms that need to be executed. This phase involves proper allocation, co-ordination and management of human resources and any other resources such as material and budgets. The output of this phase is the project deliverables.

Documenting everything within a project is key to being successful. In order to maintain budget, scope, effectiveness and pace a project must have physical documents pertaining to each specific task. With correct documentation, it is easy to see whether or not a project's requirement has been met.

To go along with that, documentation provides information regarding what has already been completed for that project. Documentation throughout a project provides a paper trail for anyone who needs to go back and reference the work in the past.

In most cases, documentation is the most successful way to monitor and control the specific phases of a project. With the correct documentation, a project's success can be tracked and observed as the project goes on. If performed correctly documentation can be the backbone to a project's success. Monitoring and controlling consists of those processes performed to observe project execution so that potential problems can be identified in a timely manner and corrective action can be taken, when necessary, to control the execution of the project.

The key benefit is that project performance is observed and measured regularly to identify variances from the project management plan.. Monitoring and controlling includes: In multi-phase projects, the monitoring and control process also provides feedback between project phases, in order to implement corrective or preventive actions to bring the project into compliance with the project management plan. Project maintenance is an ongoing process, and it includes: In this stage, auditors should pay attention to how effectively and quickly user problems are resolved.

Over the course of any construction project, the work scope may change. Change is a normal and expected part of the construction process. Changes can be the result of necessary design modifications, differing site conditions, material availability, contractor-requested changes, value engineering and impacts from third parties, to name a few.

Beyond executing the change in the field, the change normally needs to be documented to show what was actually constructed. This is referred to as change management. Hence, the owner usually requires a final record to show all changes or, more specifically, any change that modifies the tangible portions of the finished work. The record is made on the contract documents — usually, but not necessarily limited to, the design drawings.

The end product of this effort is what the industry terms as-built drawings, or more simply, "as built. Construction document management is a highly important task undertaken with the aid an online or desktop software system, or maintained through physical documentation.

The increasing legality pertaining to the construction industry's maintenance of correct documentation has caused the increase in the need for document management systems. When changes are introduced to the project, the viability of the project has to be re-assessed. It is important not to lose sight of the initial goals and targets of the projects.

When the changes accumulate, the forecasted result may not justify the original proposed investment in the project. Successful project management identifies these components, and tracks and monitors progress so as to stay within time and budget frames already outlined at the commencement of the project. Closing includes the formal acceptance of the project and the ending thereof.

Administrative activities include the archiving of the files and documenting lessons learned. This phase consists of: Also included in this phase is the Post Implementation Review. This is a vital phase of the project for the project team to learn from experiences and apply to future projects. Normally a Post Implementation Review consists of looking at things that went well and analyzing things that went badly on the project to come up with lessons learned.

Project controlling also known as Cost Engineering [34] should be established as an independent function in project management. It implements verification and controlling function during the processing of a project in order to reinforce the defined performance and formal goals. Fulfillment and implementation of these tasks can be achieved by applying specific methods and instruments of project controlling.

The following methods of project controlling can be applied:. Project control is that element of a project that keeps it on track, on-time and within budget. Projects may be audited or reviewed while the project is in progress. Formal audits are generally risk or compliance-based and management will direct the objectives of the audit.

An examination may include a comparison of approved project management processes with how the project is actually being managed. If project control is not implemented correctly, the cost to the business should be clarified in terms of errors and fixes. Control systems are needed for cost, risk , quality, communication, time, change, procurement, and human resources.

In addition, auditors should consider how important the projects are to the financial statements , how reliant the stakeholders are on controls, and how many controls exist. Auditors should review the development process and procedures for how they are implemented. The process of development and the quality of the final product may also be assessed if needed or requested. A business may want the auditing firm to be involved throughout the process to catch problems earlier on so that they can be fixed more easily.

An auditor can serve as a controls consultant as part of the development team or as an independent auditor as part of an audit. Businesses sometimes use formal systems development processes.

These help assure systems are developed successfully. A formal process is more effective in creating strong controls, and auditors should review this process to confirm that it is well designed and is followed in practice. A good formal systems development plan outlines:. There are five important characteristics of a project. Designing a new car, writing a book. Complexity and its nature plays an important role in the area of project management. Despite having number of debates on this subject matter, studies suggest lack of definition and reasonable understanding of complexity in relation to management of complex projects.

Benefits from measuring Project Complexity is to improve project people feasibility by: A project manager is a professional in the field of project management. Project managers are in charge of the people in a project. People are the key to any successful project. Without the correct people in the right place and at the right time a project cannot be successful. Project managers can have the responsibility of the planning, execution, controlling, and closing of any project typically relating to the construction industry , engineering, architecture, computing , and telecommunications.

Many other fields of production engineering, design engineering, and heavy industrial have project managers. A project manager needs to understand the order of execution of a project to schedule the project correctly as well as the time necessary to accomplish each individual task within the project.

A project manager is the person accountable for accomplishing the stated project objectives. A project manager is required to know the project in and out while supervising the workers along with the project. Typically in most construction, engineering, architecture and industrial projects, a project manager has another manager working alongside of them who is typically responsible for the execution of task on a daily basis.

This position in some cases is known as a superintendent. A superintendent and project manager work hand in hand in completing daily project task.

Key project management responsibilities include creating clear and attainable project objectives, building the project requirements, and managing the triple constraint now including more constraints and calling it competing constraints for projects, which is cost, time, and scope for the first three but about three additional ones in current project management.

A typical project is composed of a team of workers who work under the project manager to complete the assignment. A project manager normally reports directly to someone of higher stature on the completion and success of the project.

A project manager is often a client representative and has to determine and implement the exact needs of the client, based on knowledge of the firm they are representing. The ability to adapt to the various internal procedures of the contracting party, and to form close links with the nominated representatives, is essential in ensuring that the key issues of cost, time, quality and above all, client satisfaction, can be realized.

Project management can apply to any project, but it is often tailored to accommodate the specific needs of different and highly specialized industries. For example, the construction industry, which focuses on the delivery of things like buildings, roads, and bridges, has developed its own specialized form of project management that it refers to as construction project management and in which project managers can become trained and certified.

Biotechnology project management focuses on the intricacies of biotechnology research and development. It focuses on three important goals: Successful projects are completed on schedule, within budget, and according to previously agreed quality standards.

For each type of project management, project managers develop and utilize repeatable templates that are specific to the industry they're dealing with.

This allows project plans to become very thorough and highly repeatable, with the specific intent to increase quality, lower delivery costs, and lower time to deliver project results. There is a tendency to confuse the project success with project management success.

They are two different things. Project management success criteria is different from project success criteria. The project management is said to be successful if the given project is completed within the agreed upon time, met the agreed upon scope and within the agreed upon budget. Meanwhile, a project is said to be successful, when it succeeds in achieving the expected business case.

The United States Department of Defense states; "Cost, Schedule, Performance, and Risk," are the four elements through which Department of Defense acquisition professionals make trade-offs and track program status. Risk management applies proactive identification see tools of future problems and understanding of their consequences allowing predictive decisions about projects.

The work breakdown structure WBS is a tree structure that shows a subdivision of the activities required to achieve an objective—for example a program, project, and contract. A WBS can be developed by starting with the end objective and successively subdividing it into manageable components in terms of size, duration , and responsibility e. The work breakdown structure provides a common framework for the natural development of the overall planning and control of a contract and is the basis for dividing work into definable increments from which the statement of work can be developed and technical, schedule, cost, and labor hour reporting can be established.