Let’s think of a final exam of the Project Management Course. It is similar to studying hard and getting an A from the final exam. You are studying to your midterms, have good graded quizzes and homework, and have all those realistic results that convince you that you can actually get an A at the end. In order to come to that successful outcome, you take specific steps t ... Read more » |
The critical path method, or CPM, was developed by DuPont, to analyse the process of shutting down plants for maintenance, then restarting them at the end of the maintenance cycle. The process involved in this was so complicated, that the critical path method had to be developed to identify and prioritise the vital activities. Similar to a Gantt chart, the CPM provides a graphical representation of the project, and the times expected to complete each activity. However, the CPM does not fix the start and end times of each activity; rather it is used to determine the activities which fall on the critical path. The critical path is the path where all activities directly follow each other, and hence there is no idle time. As such, the length of the critical path determines the total time taken for the project. The main difference between CPM and the Gantt chart is that ... Read more » |
[1]When customers, sponsors and other stakeholders outside an active project team appraise the team or their projects highly, they often adjudge them ba ... Read more » |
When starting a project, it is difficult to know how much it will cost. Project managers are held to account for their budget estimates and with so much uncertainty in projects, it can be one of the project managers' greatest challenges. The ability to create an accurate budget is an essential skill for a project manager. It can be a daunting task, especially for new project managers; however, once you have created your first budget, you will have an approach to use, and it will become easier for future projects. Budgeting Basics1 There are two main approaches you can take when creating a budget:
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The Logical Framework Approach (LFA) is an analytical process and set of tools used to support project planning and management. According to the World Bank (2000), &ldquo ... Read more » |
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Project budget management is a process of formally identifying, approving and paying the costs or expenses incurred ... Read more » |
Basically, WBS has a necessary role for attaining success in project management because as I mentioned above it serves many advantages whi ... Read more » |
Specifically, as a first step, collecting requirements is the procedure that we determine and doc ... Read more » |