Project Planning and Budgeting - Leadership Management Assignment

This project planning and budgeting assignment explores the core concepts of project management, including the use of Gantt charts and PERT charts for scheduling and activity management. The assignment emphasizes the importance of project quality and the need for effective tools to successfully implement projects. It highlights the techniques for managing the project such as organizing the team members, understanding the project aim, dividing the project into proper phases, developing a preliminary schedule, proper communication of project status, summarizing the budget , developing the work statement, establishing a proper project management environment and workbook, properly monitoring the project progress and proper closure of the project. The assignment also discusses risk management, stakeholder demands, and the development of high-performance project teams. The provided references support the methodologies and tools used in project management, offering a comprehensive understanding of the subject. This assignment aims to provide a solid understanding of project management principles, tools, and techniques.

Running head: PROJECT PLANNING AND BUDGETING
Project Planning and Budgeting
Name of the Student
Name of the University
Author Note

1
PROJECT PLANNING AND BUDGETING
Answer
The quality of a project can be defined and measured in accordance to the level the
project has met its specifications. The project quality must essentially contain the set attributes of
the numeric specifications and perceived dimensions.
Project Management is a complex and challenging task. Therefore, different tools are
essential and required to implement and execute a project successfully (Kerzner, 2013). The
most commonly used tool of project management is Gantt chart and Program Evaluation and
Review Technique chart. These tools are easily available and simple to use and effectively helps
in project management.
PERT chart helps in effective planning and managing the product quality by identifying
the specific activities to be followed for the project and their schedule or milestones. It
considerably helps in determining the sequence of activities to be followed throughout the
project. It identifies the critical path of the project, which helps in completing the project within
the schedule. PERT helps in constructing a network diagram that gives a clear idea about the
successive and parallel activities.
Gantt chart helps in listing all the activities in a project. It helps in determining the
dependant phase in a sequential project. This tool helps in planning and determining the
schedule activities of a project. It is required for keeping a track on project progress and
comparing multiple projects for identifying the risks associated with the project (Pritchard &
PMP, 2014).
The techniques used in project management are properly organizing the team members,
understanding the project aim, dividing the project into proper phases, developing a preliminary

2
PROJECT PLANNING AND BUDGETING
schedule, proper communication of project status, summarizing the budget , developing the work
statement, establishing a proper project management environment and workbook, properly
monitoring the project progress and proper closure of the project (Martinelli & Milosevic, 2016).
These techniques help in linking the project objectives and the demands of the
stakeholders. Following this techniques help in building a high performance project team as well.
Furthermore, it helps in effective calculation and estimation of the risks associated with the
project and helps in establishing a dependable project control and monitoring system as well.

3
PROJECT PLANNING AND BUDGETING
References
Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Martinelli, R. J., & Milosevic, D. Z. (2016). Project management toolbox: tools and techniques
for the practicing project manager. John Wiley & Sons.
Pritchard, C. L., & PMP, P. R. (2014). Risk management: concepts and guidance. CRC Press.