 Posted: Tue 2:14, 10 May 2011 Post subject: Keeping Projects On Budget and On Time |
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| his book Project Portfolio Management, Harvey Levine states that “Almost everything written about measurements of project success dwells on the four pillars of success: range, time, cost, and quality. We have been taught to identify the goals for success in each of these areas and then to build plans that balance these objectives. Then we implement practices and use computer-based tools to weigh how well we are accomplishing these objectives. When we encounter these objectives and satisfy the project stakeholders, we think the project to have been successful”.
Harvey goes aboard apt explain namely meantime the 4 pillars are entire essential dimensions, the executives actually only attention about 2 things: while the project ambition be completed and how many it’s going to price. If the project isn’t completed on time or namely over ration then, in their ideas, the project is a failure. Will the Project Be Completed on Time? Most projects can be broken down into a digit of tasks or treads that need to be fulfilled. As a project manager prepares the project schedule, he/she needs to identify each task, reckon how long the tasks will take to complete, know which resources the tasks will require, and then array the tasks based on precedence and dependencies. Once the project schedule in location, it is the role of the project director to make sure that his/her crew sticks to that timetable. Of course, arranging the project is only half the battle. New missions are identified,http://www.lowsneakers.com/dc_life_collection, problems arise, resources are unavailable, or perhaps, the project schedule was unrealistic from the starting. All of these items obtain in the way of a project succeeding and if I were you controlled, could reason the project to fail. Fortunately for project managers and executives, we have mighty project management tools that help align resources, administer tasks, create project plans, and otherwise ensure that the project will be completed in due time. By creating a fixed and naturalistic project schedule and then sticking to it, project managers can happily report to executives that the project will be completed on time. How Much Will the Project Cost? Getting the project completed in due time is only half the battle. The other half has to do with getting the project completed on budget. Each project task has a cost and therefore each task needs to be taken into attention when creating the budget for the project. Often projects are over budget simply because the costs of the project were underestimated or unrealistic from the get go. Getting the budget right the first time will help save invaluable time, money, and resources. As a tip, slightly overestimate your budget and then work hard to retention money on each unattached task. Chances are you’ll come out about even. Once the budget has been set, it is the job of the project manager to linger among or rather,Nike Tennis Classic, under the budget. Because costs are constantly unpredictable, the project manager ought reiterate the budget everyday and identify potential problems ahead they happen. As a general rule of thumb, if the project is in due time, then accidents are that it will be on budget as well. While appointment the project schedule won’t assure a poised budget, it will significantly addition your chances. In Summary Project managers should focus on the two most important success elements in project treatment |
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