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Proper Planning of the Project and Meeting

   

Added on  2020-02-18

9 Pages1293 Words42 Views
Running head: MN601- PROJECT MANAGEMENTMN601- Project ManagementName of the StudentName of the UniversityAuthor’s Note

1MN601- PROJECT MANAGEMENT Table of ContentsPART A: Budgeting Projects...............................................................................................2Answer to Question 1:.....................................................................................................2Answer to Question 2:.....................................................................................................2Answer to Question 3:.....................................................................................................3Answer to Question 4:.....................................................................................................4Answer to Question 5:.....................................................................................................4PART B: Baselining A Project Plan....................................................................................6WBS.................................................................................................................................7Bibliography........................................................................................................................8

2MN601- PROJECT MANAGEMENT PART A: Budgeting ProjectsAnswer to Question 1:A project is required to be accurately estimated for controlling the project developmentprocess and it can affect the development of the project negatively. The success of the project isdependent on the proper planning of the project and meeting the requirement. A project scheduleor Gantt chart is required to be prepared for the project and it is important for monitoring theprogress of the project and differentiate between the loss and the gain of the project. The timeestimated for the completion of each of the activity is required to be followed for the completionof the project within it and the cash flow is also required to be maintained to complete the projectwithin the budget. A good decision is required to be taken for the management of the cash flowand allocate the resources to the development team as required. Missing of the deadline for thedevelopment of the activity is required to be strictly followed for successfully develop theproject. The error in the project is required to be mitigated and a time phased budget is requiredto be prepared for establishing a baseline for the project and develop the project successfully.Answer to Question 2:An organizational culture is required to be managed for influencing the estimation of thequality of the project. The quality of the project can be estimated following different type ofapproach such as top down or bottom up. The senior management uses the top down approachand it can be done by the management team for the creation of a relationship with thedevelopment team. The bottom up approach is done by involving the team members and thework breakdown structure is created for the estimation of the cost and the budget. Theorganizational culture is required to be developed for the management of the workplace

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