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Strengths and weaknesses of time management
Importance of time managemnt eassy
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Assignment 1c a1639948 Yimin Jiang 1. What is the value of having good time and cost management plans when undertaking project execution? Project time management includes some processes to ensure project finalising on time. There are seven processes in project time management: plan schedule management, define activities, sequence activities, estimate activity resources, estimate activity durations, develop schedule and control schedule (PMBOK, 2013). This indicates a good time management plan is on top priority when executing a project, because project is the combination of variety of processes. When each process interacts with others organically the project could be processed well. Time management plan for project is to pre-regulate, identify …show more content…
The project cost management processes include plan cost Management, estimate costs, determine budget and control costs (PMBOK, 2013). In a project plan, cost plan is always as significant as time plan. The processes listed above not only interact with each other, but also mutually affect. Usually, in small scope projects, the link between cost estimating and budgeting is very strong, which can be regarded as the same process. In the beginning of the project, the influence to the cost is greatest. 2. Identify at least six tools / techniques (3 each for Time and cost management) that you would use for managing and controlling Time and Costs in the project and describe why you consider them to be …show more content…
Using a suitable project example from your experience or reading, make a list of activities to monitor and control that project. Take the “parking meter with mobile top-ups” scenario as a project example. To monitor and control this project, activities as followings should be made. Before start the project, ask software and internet experts for advices, in order to minimise the risk of the project. Try different types of analytical techniques according to possible changes in the project to estimate potential results. For example, in this “parking meter with mobile top-ups” project, through analysing the possible difficulties that may happen when executing the project, problems like customers failing to pay the parking fee as internet is inaccessible can be avoided. The analytical techniques include regression analysis, grouping methods, causal analysis, root cause analysis, forecasting methods, failure mode and effect analysis, fault tree analysis, reserve analysis, trend analysis, earned value management and variance analysis. Project managers meet regularly to share their point of views. Build up project management information
Adequate and effective time management strategies will be adopted for implementing all of the above strategies in effective and efficient way
Kerzner, H. (2013). Franklin Electronics. In H. Kerzner, Project Management: A Systems Approach to Planning, Scheduling, and Controlling (pp. 839-841). Hoboken, NJ: Wiley.
When an assignment or task is given, prioritizing and time-management skills will have one be able to follow through to ensure the completion in a time frame that is satisfactory to the requestor. In this case study, one will read of the problems that have arisen with poor time management skills and the results. One will also read the alternatives, possible solutions, and the recommendations to avoid errors in the workplace.
Kezner, H. Project Management: A Systems Approach to Planning, Scheduling, and Controlling. 6th. New York: John Wiley and Sons, Inc, 1998. Print.
Calendar A great idea to stay on target with timeframes, is to create a project calendar with all task due dates listed on it. This will help the team ensure the larger end goal is reached on time. Developing a work plan can take a lot of time and communication.
Strengths to build off of include setting goals and objectives, as well as working productively. Development activities to monitor over the next 90 days to continue to build on this setting goals and objectives include; continuing to prioritize, assign and align the purpose and goal of the activity. Resources to use include planning tools, lists, and data gathering and integration. Obstacles to overcome include setting unrealistic deadlines. To build on working productively, I will continue to use the tools I have received from a Franklin Covey time management class and prioritize what is urgent and
In every project there are always some universal characteristics that will be shared. They all have a comprehensible and established purpose and very distinct life durations. Overall, all projects are doing something that may possibly be new or yet a one time endeavor but have explicit requirements which include; time, price, and performan...
Simpson, W. (2010). Project Planning and Control When Time Matters: Focus on Process to Synchronize and Drive Results. Production and Inventory Management Journal, 46(2), 26-43. Retrieved July 19, 2011, from ABI/INFORM Global. (Document ID: 2278162401).
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.
PMBOK guide defines TM as the “Use of available time and your own productivity along with the appropriate planning and management of the project schedule” highlighting the link between Time Management and productivity and its closely knit relationship to scope and cost areas. Max Wideman presents a wider definition for TM as the “function required to maintain appropriate allocation of time to the overall conduct of the project through the successive stages of its natural life-cycle, by means of the processes of time planning, time estimating, time scheduling, and schedule control.” Ultimately at it’s core however, TM is about time, its planning and control during all stages of the project. A further look into Wideman’s definition of TM by means of identifying its importance throughout the entire project life-cycle (Initiation, planning, execution, controlling and close-out) is required. It is hoped that by analysing how TM tools and techniques can positively and negatively effect the different stages of the Project life cycle a better understanding of productivity, TM and project success will result.
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 first and most crucial step is to create a solid plan. Plan should include the techniques, tools and data that are going to used in the project. The responsibilities of all the members should be distributed at this step. The utilization of resources and budgeting of the project should be done here. Management tools such as probability and Impact Matrix, FMEA are useful at this point.
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.
Put all of the projects you have to have done on the top of the list. The things that can wait can go on the bottom of the list. Make sure you know out of all your tasks which ones you have to accomplish. Then set the goal to how far you have to get on the list for each day.
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.