Time, cost and quality constraints relating to project management are interdependable and mutually exclusive. Hence a company should have a well-planned project scheduling to enjoy the fruits of time and cost related benefits. Scheduling hones the productivity and performance of an organization through customized management [2].
For example, consider a poorly planned schedule. In this kind of a project, employees don’t work seriously until the deadline for the project is near. Once the deadline is nearby, they tend to hurry up tasks which will have adverse effects on the quality of the project. Project done in a hurry will not be completed within the deadline as it can have unexpected issues. If the deadline is passed, the budget allocated for the project gets increased. Similarly, as quality gets degraded, products from the company are rejected by the clients which will finally affect the future of the company. Meanwhile, if the project is well planned, it
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Scheduling cost controls can help minimize materials and labor costs. There are three advantages of scheduling with respect to lowering labor costs. It maximizes workforce effectiveness, it manages costs such that labor costs can be scrutinized for efficiency opportunities and minimizes administrative costs by automating organizational tasks [2].
Scheduling allows organizations to review and manage work hours of teams and departments. In this way managers can identify budget estimates required, works pending and opportunities required for greater efficiency. An organization can use its time keeping systems to analyze and optimize labor costs. Time keeping system would help match and compare actual and estimated time and budgets giving a scope for lowering budget costs. Scheduling also helps in lowering administrative costs such as payroll and HR by automating them using time keeping softwares which are more
Lewis, J. P. (2011). Project planning, scheduling, and control: A hands-on guide to bringing projects in on time and on budget (5th ed.). New York, NY: McGraw-Hill.
Adequate and effective time management strategies will be adopted for implementing all of the above strategies in effective and efficient way
Kerzner, H. (2013). Project Management: A Systems Approach to Planning, Scheduling and Controlling. Hoboken, NJ: Wiley.
Suggested cost management, planning and scheduling techniques would help in controlling costs and schedule problems.
The objective of conducting the analysis for this section is to determine the strategy can be adopted to complete project on time that identified from the literature review and the ranking according to their significant influence towards efficiency of strategy. Based on the eight challenges that identify, the observations of nine strategies have been proposed to ensure project complete on time.
Project scheduling is defined based on project tasks, deliverables and project deadline. I would work with project team to have estimates for the tasks with duration and create project timelines along defined priorities of project tasks. Various estimation processes such as Cosysmo, function point, Program Evaluation and Review Technique, etc. can be used to come up with estimates for the requirements of the project. The project cost is calculated based on Internal and External labour efforts and other expenses such as software licence, professional services, training needs, travel and hardware/other materials required for the project.
Time use is such an important aspect of any business. The main goal for many companies is thinking how can we be the most beneficial with our
Kezner, H. Project Management: A Systems Approach to Planning, Scheduling, and Controlling. 6th. New York: John Wiley and Sons, Inc, 1998. Print.
Project management is said to be completed within time when it completed within the “triple constraints”: cost, time and quality. And in a lot of causes, one them is sacrificed so as to meet the other two. Project managers prioritize which ones are the most important.
Application of control on different points is analysed in the book furthermore talked about in the given slides. The first contrast is, in slides, it gave as professional project manager, and in the book, it noted as project manager, construction manager, and concrete manager. In the given slides, the whole thought isolated into three principles parts i.e. work inputs, tools and techniques and outputs however in the book, it is given as general viewpoints.
Time management is essential in the workplace and it can help eliminate many other problems that could arise if time is poorly managed. By using the various time and stress management techniques available it is possible to reduce or even eliminate stress. A person who manages their time well can benefit from an organised, manageable workload with enough time to complete the jobs and tasks that are of any importance. Time management can have a direct effect on a persons stress levels and it is important that stress levels are kept to a minimum to ensure optimum performance, efficiency and general well being.
Project planning falls in the Planning Process Group which consists of those processes to establish the projects total scope, define the projects objectives, and courses of action to achieve those objectives. During the planning process, all the documents that are needed to carry the project through the project lifecycle will be developed such as the project management plan. Project management requires repeated feedback loops as additional information becomes available and is better understood. The planning process delineates the strategy, tactics, and path to successfully complete the project. With that, the planning of a project must walk through all the those processes from executing, monitoring and controlling through the closing process.
Time management is needed in everyday situations. Time management is very important to accomplish all tasks in your life, whether goal oriented for one’s self or for business purposes. You can avoid stress and burden when you set your priorities in a well-structured manner. When thinking of time management, people usually just think of personal time management. Loosely defined as managing our time to waste less time on doing the things we have to do so we have more time to do the things that we want to do. Time management includes your personal life and business life.
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.
...s the high level executives to analyze other opportunities for future growth. The time management process is as simple as any other functions that one performs in the organization. It doesn’t require additional resources except a small awareness. Recording time/activities, managing it by being focused on primary responsibility, identifying and removing the time-wasters, and developing a system, rule, and policy to achieve effectiveness and efficiency that best fits the individual’s or group’s or organization’s nature of work, resources, and goals. For example team management, time log book, sound information system, office layout, organization right sizing, practice of decentralization, 80/20 rule, etc. can be some of the tools to identify and remove time-wasters and it may allow one to focus on the primary responsibilities.