Managing Projects

Managing Projects
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Table of Contents
TASK 1............................................................................................................................................3
1. Characteristics of project and its importance...........................................................................3
2. List five stage of PLC..............................................................................................................3
3. Purpose of PID.........................................................................................................................3
4. Nine knowledge area in project management and its significance..........................................4
5. What is feasibility study..........................................................................................................4
6. a) Draw network diagram........................................................................................................5
b) Critical path.............................................................................................................................5
REFERENCES................................................................................................................................6
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TASK 1
1. Characteristics of project and its importance
The six characteristics are as follows :-
 A project is developed for customer.
 It is temporary in nature that means it has start and end point.
 There are unique requirements in project which are to be delivered.
 It can be either cross functional or cross organisational.
 A project is not business as usual which is more akin to process.
 It is an off endeavour rather all time in repeated elements.
Developed for customer- Basically, a project is developed for customer. For this their needs are
identified and then accordingly fulfilled. It can be related to providing services or changing way
of delivering services.
Unique requirement- For every project, its requirements are different. It depends on nature, size
and type of project (Davies and et.al., 2017). However, it is also dependent on customer needs,
scope, etc. of project. So, on basis of project the requirement.
2. List five stage of PLC
Initiation phase- It is starting stage where objectives are identified. Here, feasibility study is
conducted to form project objectives.
Planning phase- in this planning is done that includes team, budget, tasks, time, etc. are
planned. Besides, roles are assigned and resources are allocated according to tasks.
Implementation phase- Here, the project is executed and progress is monitored. The team
perform tasks and compete them.
Closing phase- it is final stage where project is closed. Here, project is evaluated on basis of set
standards to identify whether goals are attained or not.
Monitoring phase- In this project is maintained as per standards and guidelines.
3. Purpose of PID
It is most important document in project. The PID is developed to record basic
information of project that helps in its completion (Defusco and et.al., 2016). It consists of
several elements that are scope, risk stakeholders, etc. that enables in completing project
activities. However, on basis of PID planning is done and task are accomplished. The three
items listed in it are as follows :-
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