Project management comes whenever you think of starting a project, the first thing
that hits your mind should be managing the project tasks so that your project
will complete on time, within budget and with all the required qualities in
your project. In Project Management
we apply knowledge, skills, techniques and tools to achieve our goals within
our budget and time schedule. If we achieve our goal within time, budget and
required standard then it is project success. Project failure occurs when your
project is not completed within time and budget. Sometimes your project fails
in terms of project management at starting and after some time with your
efforts and new strategies it generates more revenue and overcome loss and it
became success of project. For Example In Case of Air Bus A380 They faced
issues of electrical wiring, delay in unit delivery but after their efforts
they become the most successful airline. There are certain project activities
which are also called phases of project management are given below:
Project Management Activities/Phases
1.
Planning
In project planning, we define the
objectives of our project means which objective we want to achieve from our
project, we describe the resources available for our project, we develop work
breakdown structure in which we break a project into sub-components to its
minutest level and we develop hierarchy in which we explain things like who
will be the project manager, the team mates and assign activities to them.
Through work break down structure we will know the activities from which you
can do sequencing, costing and then scheduling. After costing and scheduling of
individual activities then sum up all to know the total budget of project. It
is the first and essential phase of project management.
2.
Scheduling
This activity of project
management shows relationship of each activity to others and to the whole
project. It identifies the precedence relationship among activities and
encourages the setting of realistic time and cost estimates for each activity.
In this activity, we identify the critical bottlenecks in the project. The
techniques applied in scheduling are to ensure that all activities are planned
for, their order of performance, the activity time estimates are recorded and
the overall project time is developed. It also determines the critical
activities which cannot be delayed because if critical activities are delayed
your whole project will be delayed which nobody wants obviously!
3.
Controlling
This is followed up by planning and
scheduling phases. In this phase we monitor activities of project, compare them
with our own set standards which we want to achieve, revise them and in case of
any deviation from our goal we take corrective action. In this we compare our
results with our desired outcome and if our results are not matched with set
standards then immediately we take action. The most important part of project
management is controlling.
Project Management Techniques
Mainly there are 3 techniques of project
management which are a follows:
1.
Gantt Chart
It is a type of a bar chart which
shows the starting and ending of different activities but the sequence of
activities is not defined for this problem we use software which solves the
problem of scheduling. In that software we define the predecessor or successor
and starting ending dates then the software gives all sequence, calculates any
slag or float in activities and draw all the network
2.
PERT
PERT is project evaluation &
review technique which was developed by US Navy in 1950. This project
management technique is used when we do not know the timing of activity in
which the starting and ending is not known. PERT is used for planning,
scheduling and controlling. Through PERT three times can be obtained which are
optimistic time (it is a positive approach, the minimum time in which an
activity can be completed under favourable conditions), most likely time (when
you are repeating a certain activity and now you know in how much time a
certain activity can be completed) and pessimistic time (it is the darker side,
the maximum time in which the activity can be completed under unfavourable
conditions). In this we calculate standard deviation, variance and probability.
PERT is used for those projects where time is not known to complete certain
activities. It is used in research and development projects because we do not
know the exact completion time. While doing PERT analysis we do not consider
cost it consider time.
3.
CPM
CPM stands for critical path method
which was developed by DU Pont in 1957, it is a project management statistical
technique which predicts overall project duration. In this we calculate the critical
path and critical path tells us earliest time by which the project can be
completed. This technique is used when projects are repetitive in nature and
where one has experience of handling similar projects. It is used in plant
maintenance and construction work because in CPM we are the completion time
with certainty. In CPM we see total time required for completion, the cost
required and its minimization.
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