Project Management: Scheduling, Resources, and Budgeting

MNG00785Project management
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Contents
Introduction...........................................................................................................................................3
Topic 5: Scheduling Project...................................................................................................................4
Topic 6: Resource and Budgeting.........................................................................................................6
References:............................................................................................................................................7
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Introduction
Project management is a historical concept. Project management concerned about the timely
deliveries of project along with efficient utilisation of money and other resources. Project
management means planning the different phases of the project so that it can complete on
time and deliver the expected outcomes. Project management increases the value of
organisation through efficient use of human capital and financial resources. Before starting
the project management process scope of the project need to be determined by the manager.
Project management process initiates with identifying the activities involved in the project.
Project manager can divide the whole project into Mile stones which inform about
percentage completion of the project. To achieve milestone, number of activities are required
to be performed. The next step is to built work break down structure and set a schedule for
activities. Work break down structure also provides information about dependency of
activities. After scheduling the activities project manager starts determining the resources
important for implementation of projects and preparation of budget for management of funds
and controlling the cost associated with the project. Earned value management is also a part
of project management which provides the information regarding the future value of present
investment and information regarding the cash inflow from the project. Risk management and
planning is the last stage of project management process. Risk are those uncertainties which
may have some positive or negative impact on the project in the coming future period while
implementation phase of the project. Risk identification helps in managing those factors
which are having negative impact on the project completion. Project manager also
implements quality management tools for maintaining the quality and achieve the outcome as
per expectations. Project manager can implement some change management techniques in
order to deal with the uncertainties and complete the project on time.
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