Engineering Project Management2 1.Information Triangle for Project Management The project management triangle is a tool that is employed by project managers to help them understand or in analysing the constraints that normally arise because of project execution and implementation. In general irrespective of the project size constraints will never fail. While there are numerous such project constrictions, which does not mean that it should be an obstacle for the success of executing the project as well as for the effective and efficient process of making decision (Abuwarda, and Hegazy, 2016). As a result, there are three key interdependent constrictions in any project: these are cost, time, scope; what is referred to as Project Management Triangle. Components of the Project Management Triangle The project management triangle entails three major elements cost, time and scope of the project. Time: A project activity can either take a short or longer period to achieve. To achieve a project task it depends on several aspects such the number of individuals working on a project, their skills as well as experience (Leach, 2014). Accordingly, time is an essential necessity that is uncontrollable, however failure to achieve the project’s deadlines can lead to adverse effects. The main reason for failure to attain the project deadlines is because lack of assets. Cost: Cost is imperious both to the side of the project leaders as well the company to have an approximate charge when conducting a task. Resources play a significant role in ensuring that the project being developed meets the initially specified costs (Hu, Cui, and Demeulemeester, 2015). However, in some cases project supervisors and clients do come up with changes in the course of the project which makes it difficult for the project managers. As a result, the
Engineering Project Management3 project manager has to allocate extra resources so that to be in apposition to realize the deadlines but this comes with a penalty for the inconvenience of the additional project costs. Scope: The scope is mainly concerned with the outcomes of the project carry out. Therefore, it comprises a list of deliverables that have to be considered by the project managers and their teams. Quality: Despite the fact that superiority is not part of the project management triangle, it is the ultimate gaol of each deliverable. That is the reason as to why the project management triangle representation advocates for quality. Phases of Project Management A project goes through several stages during its life cycle as highlighted below: Definition of the project: project definition refers to the description of the project objectives as well as the various factors that are supposed to be put under consideration in order to make a project successful (Newton, 2016). Initialization of the project: It refers to the planning in addition to the resources that are figured out before the commencement of the project. Project planning: Project planning highlights the project’s plan that is the manner in which the project should be carried out. At the time of project planning, project management triangle play a critical role thus it is very much vital at this phase (Heagney, 2016). The project management triangle figures out the time, cost, as well the project’s scope. Project execution: Project execution involves putting the project into application to see to it that it is in the position of delivering the projected project requirements. Project monitoring and control: This stages entails making the necessary measures so as to make sure that the project operations run in a smooth manner as initially desired.
Engineering Project Management4 Project closure: Project closure comes in after the project has attained all the anticipated deliverables. Therefore, it is at this phase that that the project deliverables are accepted and at the same time when the project’s resources are discontinued from running. 2.Project crashing to meet the Project Deadline Project delays are a characteristically part of any project. Project delays happens as a result of inadequate communication, poor planning, changes in the course of scope of project and diminishing resources (Sears, Sears, Clough, Rounds, and Segner, 2015). Furthermore, project delays can also be due to the project team’s poor morale. In case of a project delay, project managers are supposed to apply the idea of project crashing so that the project does not go past the initial specified time. To achieve this, project crashing has to be factored in with the intent to minimize and shorted the project period by reducing on the time of either one or more critical project activities than it its normal activity time. Project Crashing Steps Understanding the critical path of the project and then calculating the expected time needed to accomplish the project. Identification of the critical events with the least cost rise and then making a calculation of the crash cost for all the practices using the following formula. Crash Cost per unit = (Crash Cost) – (Normal Cost) / (Normal Time – Crash Time) Once the crash cost is calculated, the project manager then chooses the project activities on the critical path that has the least cost slope or that have the least crash cost and crash this activities to the minimum amongst all the events till the desired crash time is attained. Reduction of the activity time of the event until it reach the crash time. How to mitigate the Problem of Project Delay in Project Management
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Engineering Project Management5 It is always a necessity that as a project manager one has to strive and make sure that they overcome the challenges that are related to the project triangle at the time of project execution. It is therefore the responsibility of a project manager to ensure that they are well- vast in terms understanding as far as the project triangle is concerned so as to makes adjustments to the three key project management restrictions. The most significant part in this case is that the project leaders is supposed to strike an equilibrium between the three constrictions to see to it that project quality does not stand to be compromised whatsoever. Accordingly, to overcome this constraint of delay as well as the other constraints the project managers can take several approaches so as to keep the project moving in the right course. Consequently, the project manager can minimize the negative impacts of project delays in the following ways. Holding with project teams members and skilled employees. Despite the project team members as well as skilled workers may at time not aware of the existence of project delays (Harrison, and Lock, 2017). Thus, through constant and strong communication level with skilled employees and project team members is essential in making sure that project delays do not happen to result in project failure. Holding meetings on a regular basis helps the project manager to receive feedbacks from the teams regarding the likely options to be undertaken to reduce the impacts of the delay. Staying while connected as a team of workers help to maintain a positive relationship within all the affected areas. Reassessing the present state of the project for scrutiny of other delays. Delays acts as an indicator for forthcoming problems in the project. When delays happen it is significant that the project manager reassess the present state of the project. Diverting Resources to non-delayed tasks and activities. In case a delay focuses on a particular task or activities, the project manager can decide to shift teams as well as
Engineering Project Management6 assignments to non-affected tasks. Despite that fact that it may distract the schedule of activities, it plays a significant role as it allows the project teams to stay productive when a project suffers delays. Reviewing data entry in risk analysis. At time delays can be as a result of the project management team as well the supervisor’s incapacity to attain impractical deadlines (Kerzner, and Kerzner, 2017). When delays happen minus an input from the external management level, the project manager should make a review of the data and elements in their risk analysis. Conducting extra risk analysis management helps to define the how and why the problem may have taken place. In case the problem is from the within the project team members, then the management should consider taking administrative measures by offering further training to rectify the matter. Conducting a quality inspection of both complete and incomplete work progress. There are specific project delays that are likely to hamper the capability of the project team from achieving the project within the specified period (Pearlson, Saunders, and Galletta, 2016). While such delays cannot be run away from, the team has to stay connected and productive all along the project course. Therefore, the project manager can ask their team members as well as project staff to carry out quality inspections and review the completed work for any flaws. While this step comes last in the project, the project manager can reduce the overall effect of the delays by going on with quality with quality inspections. 3.Reasons for Reconfiguring John’s Work Plan As a project manager I would reconfigure John’s work plan because it does not shows the efforts to emphasis on time as a crucial commodity in in the delivery of a project. Accordingly, time in project management is the most essential resources. Without a good time management it will result in failing to meet the set out deadlines for the project. Time
Engineering Project Management7 management is significant since it is the fundamental capacity used to organize as well as plan the time used on activities in a day. Consequently, the outcome of good management of time is intense effectiveness and productivity. Thus time is a key element of project management as it involves skills like setting goals, planning and giving priority for a better performance. Therefore by John spending very little time on the project it can lead to project failure which is a great mistake that is unacceptable by any project manager as it tarnishes the name of the project development company. Reconfigured John’s project management activities TaskDuration (Days) Task A (Defining Project )1 Task B (Project Initiation)2 Task C (Project Planning)2 Task D (Project Execution)10 Task E (Project Monitoring)7 Task F (Project Control)4 Task G (Project Closure)1
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Engineering Project Management8 4.Project implementation with a delay TaskDuration Project Initiation ï‚·Business case documentation ï‚·Feasibility study 10 5 5 Project definition4 Project design10 Project execution30 Project implementation10 + 10 (delay) Project control and monitoring Control Monitoring 15 15 7 Project closure2
Engineering Project Management9 Instead of the project to be accomplished in ten week as it was originally scheduled which the same as 70 days the delay in the project lengthens the project by ten extra days as indicated in the table such that instead of the project coming to completion 6thAugust 2018. The ten days delay makes it end on 20thAugust, 2018 due to the additional ten days of delay in the implementation phase of the project. This shown in the screenshot below where the
Engineering Project Management10 delay takes an additional 10 days in the implementation phase. Cost and Duration Variance before Imposing Delay The variation in the project real schedule as compared to its planned schedule, is measured by its schedule variance (SV), which measures the dissimilarity between the earned
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Engineering Project Management11 values (EV). Therefore, schedule variance (VS) is given by earned value (EV) minus the planned value (PV). The SV is expressed as a monetary unit for instance in dollars Cost and Duration after Imposing Delay on Implementation The most significant result is that the above formulas that show the cost and schedule variances evolve with time. That means that it demonstrates the way in which ES performs over the life of a project and explaining how it behaves. These formulas also allows the Actual Costs, Earned Value and Planned Value over time. With such formulas it makes it easier to calculate the cost performance index CPI (t), as well as performance index, SPI (t) since they operate as time functions.
Engineering Project Management12 Bibliography Kerzner, H. and Kerzner, H.R., 2017.Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons. Heagney, J., 2016.Fundamentals of project management. AMACOM Div American Mgmt Assn. Harrison, F. and Lock, D., 2017.Advanced project management: a structured approach. Routledge. Pearlson, K.E., Saunders, C.S. and Galletta, D.F., 2016.Managing and Using Information Systems, Binder Ready Version: A Strategic Approach. John Wiley & Sons. Leach, L.P., 2014.Critical chain project management. Artech House. Newton, R., 2016.Project management step by step: how to plan and manage a highly successful project. Pearson UK. Sears, S.K., Sears, G.A., Clough, R.H., Rounds, J.L. and Segner, R.O., 2015.Construction project management. John Wiley & Sons. Abuwarda, Z. and Hegazy, T., 2016. Work-Package Planning and Schedule Optimization for Projects with Evolving Constraints.Journal of Computing in Civil Engineering,30(6), p.04016022. Hu, X., Cui, N. and Demeulemeester, E., 2015. Effective expediting to improve project due date and cost performance through buffer management.International Journal of Production Research,53(5), pp.1460-1471.