logo

Methodical Approach to Project Management

   

Added on  2020-02-03

6 Pages1307 Words125 Views
TABLE OF CONTENTSMILESTONE 5 (WEEK 8)..............................................................................................................2INTRODUCTION...........................................................................................................................2Work breakdown structure...........................................................................................................2Gantt chart....................................................................................................................................2Critical path..................................................................................................................................4Project control..............................................................................................................................4Methodology................................................................................................................................5Communication plan....................................................................................................................5CONCLUSION 100.........................................................................................................................5RECOMMENDATION 100............................................................................................................6References .......................................................................................................................................7
Methodical Approach to Project Management_1
MILESTONE 5 (WEEK 8)INTRODUCTIONProject management is referred to as methodical approach to plan and guide the processof project from beginning till end. The process is being guided by fives steps that includesinitiation, planning, execution, control as well as closing (Kerzner, 2013). The present project isdigital one wherein website of the organization is updated to communicate with the customers inan effective manner. The project management has been discussed with respect to oil and gascompany. The report includes advantages and limitations of work break down structure, Ganttchart, communication plan and critical path. Further it also includes analysis of project controltool and methodology of the project plan. Work breakdown structureIt is considered as the key project deliverable that assist in organizing work with teaminto manageable sections. In other words it is considered as deliverable oriented hierarchicaldecomposition of work that needs to be implemented by the project team. There are severaladvantages and disadvantages of work breakdown structure (Meredith and Mantel Jr, 2011).These have been enumerated in the manner below:AdvantagesThe merit of WBS is in terms that it assist in monitoring the work definition with greaterease within oil and gas company. DisadvantagesThe major demerit of WBS is that it gets outdated very quickly. Though the WBS demonstratesthe project schedule but it get obsolete very fast. This is due to the reason that project scheduleusually alters while executing the project but WBS remains as such. The updation WBS isoverhead which is ignored by every project manager (Baker, Murphy and Fisher, s2008). Gantt chartIt is referred to as bar chart that demonstrates the schedule of project. It indicates the startand finish dates of the terminal as well as summary elements of a particular project. It is one ofthe most effective manner that shows activities against the time.
Methodical Approach to Project Management_2
AdvantagesThe major merit of Gantt chart is that it assist in establishing time frame. There areseveral project elements that depends on other tasks. It is difficult deduce the amount of time onetask should take and when to start and finish it by (Schwalbe, 2015). Gantt chart provides betterperspective of the total project that includes time frame of the entire project. Disadvantages The major con of Gantt chart is that it is required to be updated. The development of theGantt chart is done at planning stage of the project. There are greater chances that it can changein future. This requires updation of chart that takes immense amount of time (Highsmith, 2009). Critical pathIn project management, critical path is referred to as order of project network activitieswhich is considered as the longest duration. It makes determination of shortest time possible foraccomplishment of the project. AdvantagesThe major merit of critical path method is that it assist in making ascertainment of timeschedule of activities which possess relationship of sequence. It helps the management of oil andgas company in making easy control. Disadvantages Limitation of the critical path method is that as it runs on basis of assumption that relateswith precise known time that can be taken by each activity within project. But such might not betrue in real practice. Project controlThere are various techniques that can assist in controlling the project to a greater extent.This includes market analysis, time management and management of cost.AdvantagesWith the assistance of project control technique such as time management oil and gascompany can make determination of time required for project completion. Further it examinesthe differences existing the time for actual completion plan (Wysocki, 2011). Thus control ofproject can be done in an effective manner. Disadvantages
Methodical Approach to Project Management_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Project Management for Greenhouse Construction Organization
|12
|2105
|112

Compendium of Project Management
|9
|1502
|13

Project Planning and Completion: Tools, Budget Template, Closure and Balanced Scorecard
|7
|897
|153

Website Development for Native Bush Spices Australia
|19
|2925
|57

Project Initiation, Planning and Execution
|11
|3406
|70

Project Initiation, Planning and Execution Assignment
|12
|2628
|93