Project Management consists of setting clear goals, improving performance of personnel, raising funds and bringing a service or product to a market. To accomplish these tasks a project must follow some basic guidelines. As outlined on a prince 2 Course London qualification.
Project scope: This indicates the boundaries of the project i.e. what will or will not be done, and the limits of authority and responsibility. Often, a project is started without listening to the initial adjustments that may need to be made in order to complete it properly. It is often necessary to make changes to the scope to meet a new market, new geographies or to fix something within the project that may be going to a wrong direction.
Project time: Time is money and it means money to a project manager to get a project in the right direction so he/she can manage costs and the time to complete the project to a maximum. Keeping track of the time in the right direction is a skill that can’t be learned or is just plain hard work.
Project cost: Cost is not the same as cost. The work that is used to produce a product or activity, sometimes called a “work in process” is costing money. The project cost on the other hand must fill a fixed expense account. This can be a fairly complex issue to get right, especially for an experienced manager. A well-known factor in project costs is the so-called O pursue overhead, which can have a secondary effect of overosing the project overspend to the original budget expected.
Project risk: Risk is a percentage of project budget that will not be delivered. The cost and risk percentage is determined for every project by the PM using a methodology. Recalling that the Project Managers work is beneficial in those areas where they have the most responsibility and power to work, and not so much in the areas where they have relatively little or no authority. Risk is not good for the project manager. It is better to have too many reliable methods or actions performing than to have too few. Change management in Reducing project risks and getting them under control takes a great deal of skill and training.
Projectness: Project management is a high degree of interpersonal skills. A great deal of details must be taken care of for a good yield, but there must be sufficient attention to detail to accommodate for conditions. Many project managers fail to achieve the optimum in this area as they become too involved in the details and try to achieve the optimum of processes only to find they can’t in any way because they concentrated too much on operational costs become confused by project scope and do not have the right human resources to make a change noticed held together by people.
Project communications: Effective communication is essential to its success. Effective communication must be used when working with all levels of the organization who make up your audience.
Project change management: A Project Manager must be capable of positive action in constructing and maintaining a working environment within the project parameters. The continuum of maintenance and extracurclock is constantly changing and requires consistent attention.
Project Cost Management: The basis for implementing cost reductions and cost control is to achieve an overall cost reduction percentage that meets budget, but cost reductions need to be balanced with improvements, all of which is necessary for continued planning and a successful project, which in turn must be continued.