Classification of Projects (E)
What is the project? How to select and justify the project? How to plan and execute the project?
Posted: Sep 2010
Projects can be classified based on duration and magnitude of effects. Classification is necessary in order to assess resources required for project development.
Based on duration can be:
Small Project Duration <= 1 month
Medium Project Duration <= 1 quarter
Large Project Duration > 1 year
The duration of the project is determined by complexity. The classification of project is the indication for the level of authority of project manager and executive committee. Example, major upgrade of business operation requires general management team to be involved as executive committee. Project manager should be manager from middle or top management. Duration of the project could be a year.
On the other side, the small scale project can be done within the month, by base level supervisor as project manager and floor workers as team members, while the project sponsor can be someone from middle management. The methods and tools can be the same, but adjusted to required level.
Continue on Project Management:
1. Project Management Overview
2. 9 Areas of Project Management
3. Project Lifecycle – 5 Stages of Project
4. How to Determinine a Value of the Project?
4.1. Simple Payback
4.2. Average Return on Investment (ROI)
4.3. Net Present Value (NPV)
4.4. Internal Rate of Return (IRR)
4.5. Cost/benefit analysis
4.6. Time value of money
4.7. Present value of future payments
4.8. Justification of Addopted project
5. Project Planning – Project Charter
6. Work Cascading Structure (WBS)
7. Project Scheduling ( Arrow-on-Arrow and Gantt Chart )
8. Project Scheduling ( CPM and PERT )
9. The Responisbility Matrix
10. Resources and Budget Planning
11. Clasification of Projects