Components of Project Management Essay

Estimating Activity Duration In order to utilize CPM and PDM, the project manager must estimate the duration of each activity. This is accomplished by exercising different methods of approximating the time to complete the activity. Analogous estimating exercises historical information from previous project to base the duration of a specific activity (PMI, 2013). Parametric estimates are calculated by the application of statistical information to appraise the approximate duration of an activity…

Project Management is used in every industry worldwide, regardless of size and scope. From the information technology industry to marketing, finance, and even the military project management is an important component. To put it into perspective how project management is being used worldwide take a look at India’s demand for the specialty. In 2014, India had over 37,000 Project Management Institute (PMI) certified professionals in the country and that number continues to grow (PMI Annual Report,…

1. Briefly describe the project – describe the current condition and the future state that the transformation journey was resolving. An initiative from Compaq corporate office to implement “Direct Sales Model” within Compaq organization in Europe. - The current stated was semi-manual sales process through channels only (third parties). - The future state involved the facilitation of online order processing i.e. configuration assemblies & purchase order processing for individual customers as…

are a number of life cycles within a project; the stage includes imitating, planning, launching, execution, and closing along with these stages the project involves the slope, cost, time, risk, and quality. The integrated elements are defined by the collaboration, coordination, and consolidation of any project. The elements integrated effectively integrate the processes. Adding scope and now task with affecting all other areas. A checklist is utilized in a project and how to plan will effect and…

The Importance of an Effective Communication Plan on Project Success Project success is defined as achievement of an objective or goal that is implemented within budget, on schedule, and scope/quality. Effective communication to all stakeholders is critical to project success. A Project Management Institute Study (2013) found that “communication is what allows projects to function efficiently” (p. 12) and a PwC (2012) report stated, “organizations with effective and efficient communication…

Investigation’s Virtual Case File project was unlikely from the outset. Most projects are destined for either success or failure based on the ability of management to put all the necessary pieces together ensuring the completion of the project in its entirety and on time. The VCF project experience major issues that continued to plagued the project throughout its duration. Some of the issues which caused the failure of the VCF project can be attributed to the fact that the project did not have a…

The project management role generally may be assumed by Advanced Practice Nurses, such as a nurse practitioner or clinical nurse specialist. However, through careful observation of my duties as the Outpatient Diabetes Nurse Educator, I may safely assert that developed project management skills would also be utilized in my practice while having a patient education in view. Therefore, to initiate that task and to be successful in its completion one must understand the steps included in the…

Project management is the art of handling the work and its deliverables with an aim to create finished products or services. There are many ways in which a job can be carried out and the way in which it is implemented is project management. Project management includes: determining requirements, developing obvious and possible goals, controlling the competitive requirements from the different stakeholders and making sure that a common function of purpose is obtained. It is obvious that unless…

According to Project Management Guru (2012), three benefits of formally monitoring and controlling project risk include: It allows the team members to understand the current state of the project, including validating and controlling the scope of the project. It allows the team members to understand the budget and schedule of the project, including controlling the cost sand quality of the project. It allows the team members to consider changes (perform integrated change) that could improve the…

its status quo. In project management, three key areas are necessary for a business to manage these changes. By exploring the areas of time management, scope management, and ensuring the needs of the customer are met, will provide the basic understanding of how project management has affected organizations. The examining of the phases of a project will provide a better understanding of how a project manager can help in managing the pace and the budget of the project. The management of time,…