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Project Cost Management
project quality management approach
project quality management approach
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Recommended: Project Cost Management
INTRODUCTION
This paper outlines the specific project management services recommended for the following three stages of any development.
1. A new project that as yet has not commenced
2. A project underway though only the design has been completed
3. A project underway that is already within the construction phase
As the services within items 2. and 3. primarily form a subset of item 1, we will identify all of the services normally recommended for a complete project and then list those that are applicable to items 2. and 3.
We note that for most projects the management services provided would be tailored to suite the actual development and the needs of the developer. As this proposal is not related to any one specific project, we will identify as a guideline, the general range of services normally recommended.
1. PROJECT MANAGEMENT SERVICES - NEW PROJECT
For a new development CMR Project Management provide the complete project management service that will provide the overall management and guidance from project conception through to the completion of the defects liability period.
In CMR taking this role, much of the burden of dealing with and co-ordination of all the project parties will be removed. With our system of meetings and reporting, the Client will be completely informed and positioned to make the most important development decisions. CMR Project Management provide experienced construction professionals who act at all times in the best interests of the Client.
For a new project our project management services are broken into two overlapping stages. The first of these is the project initiation stage and the second is the project implementation stage. These two stages and are descr...
... middle of paper ...
...o suite the contracting strategy
- 1.1.5 If required propose a more comprehensive project cost management system
- 1.2.3 Prepare and or review the contract document if required
- 1.2.5 Project time, cost, quality and functional management
- 1.2.6 Administration and reporting
- 1.2.7 Post contract services
GENERAL FEE SCALE
As discussed, the range of fees for the services indicated within this proposal are extremely difficult to assess as each project requires a team of managers to be tailored to a structure which best suits that project.
As a very rough guide we again submit the following fee range though highlight that for specific projects the fee may be dramatically different:
For Project Values Less than RM20M 3.0-5.0%
For Project Values Less than RM500M 2.5-3.5%
For Project Values Greater than RM500M 2.0-2.5%
Gray, C., Larson, E. (2008). Project Management: The managerial Process. New York, NY: The McGraw-Hill Companies Inc.
Project management is a subset of operations management. Project management has a defined beginning and end, and is usually time-constrained (Satterlee, 2013). The stages of project management are the proposal, the initial investigation, a detailed investigation, development and testing, a trial, operation and closure, and the final step of evaluation. Project management and project scheduling are major issues for any organization facing rapid changes in its environment (Demeulemeesre, Kolisch, & Salo, 2012).
Project Management Institute, 2008. A Guide to the Project Management Body of Knowledge. 4th ed. Newton Square, Pa.
This Project Cost Management Template is free for you to copy and use on your project
Successful organizations must manage resources and control the diverse range of projects operating within their systems at any one time. To be successful in the current business climate, organizations need to focus on how to manage the many competing requirements for resources. Conflicting resource requirements across multiple projects and corporate priorities not centrally managed usually are grounds for failure. I believe that a properly organized enterprise project office is the formula for successful project implementation. This paper briefly outlines what I feel is the main philosophy of the project office and two functions it can provide.
A project is a temporary grouping of resources to solve a one-of-a-kind problem. Organized approach was necessary to manage the complex interrelationships among a huge number of diverse tasks achieved by many different specialists. To get further understanding about software management, the fundamental concepts of modern project management and how these concepts can be applied to software development projects are discussed in this article. The important purpose of the conceptual phase is to determine the practicality of the project. Normally project life cycle can broke into four generic phases which are project conception, planning, execution and termination.
The client will be responsible for hiring design team. The client will appoint a management contractor who acts as an adviser to the team during pre-construction and during construction, the management contractor will be responsible for the construction works. The management contractor will employ subcontractors or work contractors to carry out individual work packages in return for a contract fee. The management contractor will engage in the work on the basis of a contract cost plan prepared by a quantity surveyor,project drawings, and a project specification. ( Building Procurement Method,
Meredith, J. M. (2009). Project Management A Managerial Approach. Hoboken, NJ: John Wiley & Sons, Inc.
Project Management Critical Success Factors defining project success poses another challenge in understanding project management and accordingly assessing its performance. It is generally accepted however, that the success of a project can be well-defined through the convergence of, the ability of the process to meet the technical goals of the project while not deviating from the three constraints of scope, time and cost; the usefulness of the project as perceived by project team, sponsors and beneficiaries; and the performance of the project (Kerzner, 1992, 2001, 2003). Hence, project success or failure can only be effectively measured at the completion of the
Ramroth, Jr., William G., 2006, Project Management for Design Professionals, . Chicago, Illinois : AEC Education.
Project managers must take cost estimates seriously if they want to complete software projects within budget constraints. After developing a good resource requirements list, project managers and their software development teams must develop several estimates of the costs for these resources. There are several different tools and techniques available for accomplishing good cost estimation.
Project management involves all activities that encompass scheduling, planning, and controlling projects. A successful project manager ensure that an organization’s resources are being used both efficiently and effectively. Most projects need to be uniquely developed require a sense of customization and the ability to adapt to any posed challenges. The scope of effective project management includes defining what the project is and what is being expected to be accomplished. Projects are imposed to fulfill a certain need and project managers must have the ability to create the proper definition. Goals and the means used to attain those goals have to be clearly stated. Project Managers must also have the ability to plan
The business organizations of all need their goals to measure the level of growth and successfulness. If the goals and objectives concrete have been completed successfully, it is brought about careful planning of available resources, by the organization and management. Project management is a whole range of work to reach many of the goals of the business organization. In order to or exceed the expectations of customers, to achieve some, this can be an extremely useful tool to use resources of people, time, and money.
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.
Project Management Institute (PMI) (2013). Project Management Professional (PMP) Handbook. [ONLINE] Available at: http://www.pmi.org/certification/~/media/pdf/certifications/pdc_pmphandbook.ashx. [Last Accessed 20 April 2014].