9 Areas of Project Management (E)
What is the project? How to select and justify the project? How to plan and execute the project?
Posted: Sep 2010
The project management is composed of 9 areas:
Project Coordinator is the person that is accountable for project outcome. Project coordinator has the authority to manage the team and resources, in order to achieve the project objectives.
Scope of the project defines the goal and expectation of project related activities. Scope must be clearly specified, in order to avoid deviations and side effects.
Timeframe defines time period for whole project and individual process steps. Usual method of defining the time frame is the Gantt chart
Cost defines all financial outflow caused by project activities. Costs are related to capital investments and operative expenses of the project.
Quality and Effect of Project establish the expected standards of the project activities and project itself.
Project Team is composed of team members from different areas, related to specific project ( technical, logistic, finance, ... )
Information Flow during Project is important aspect of project management. Information should contain all necessary data about project status. Information should flow toward all stakeholders.
Project Risks need to be assessed prior the project execution. Critical points should have the prepared contingency plans.
Resources Required include funds, people, outsourcing, ...
All 9 areas of project should be defined. The responsibility for defining the aspects of these 9 areas is on the Project Manager, but on the Executive committee too.
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