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Project Management Scheduling Compression

   

Added on  2020-03-23

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Running head: POJECT MANAGEMENT INTEGRATIONProject management integrationName of the studentName of the universityAuthor note
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1PROJECT MANAGEMENT INTEGRATIONTable of ContentsQuestion 1........................................................................................................................................2Question 2........................................................................................................................................2Question 3........................................................................................................................................3Question 4........................................................................................................................................4Question 5........................................................................................................................................5Question 6........................................................................................................................................6References........................................................................................................................................7
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2PROJECT MANAGEMENT INTEGRATIONQuestion 1Risk analysis and budgeting are two related terms in the field of the marketing andmanagement. There are several risk factors which can be also harmful for the organisationalsafety. There are several types of risk factors like corporate risk, stand-alone risk, competitiverisk, market risk, project specific risk and industry specific risk. The primary features of thisdiscussion are to put emphasis on the concept about the possible significance of budgeting in therisk management (Brones et al., 2014). There are several reasons behind the risk factors likeinability of the decision makers. The financial risk can also be happened due to lack of properplanning related to the financial budgeting. In case of a project management scenario thebudgeting is the primary and most important element of financial planning. Proper budgeting canallocate the proper amount and type of employees and the proper duration to every task and thatis given in terms of the amount of the money. The primary advantage of using proper budgetinglead to the proper execution of the project and that automatically decreases the amount of thepossible risks which can be occurred during the project (Fleming, & Koppelman, 2016). Thereare many aspects of using the budgeting by restricting the expenditure and by utilising thequality of the products in the project. The risk related to lack of planning from the employees andthe related to the over amount of the expenditure can decrease the risk fact ors to a greateramount. Question 2The implementation of benchmarking in project management is important from the pointof view of applying the knowledge extracted from the competitive analysis of several projectsand business processes (Hornstein, 2015). Benchmarking is a concept related to the comparisonof one’s business processes and performance matrices to the processes and practices of the
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