...Triple Constraints of Project Management is defined as the discipline of planning, organizing, motivating, and controlling resources to achieve specific goals. The three constraints are: (1) Time/Schedule, (2) Scope/Quality, (3) Cost/Resources. These three important factors are often represented as a triangle. Each constraint forms the vertices with quality added as a central theme. Time, in project management, is analyzed down to its smallest detail. The amount of time required to complete each and every component of a project is analyzed. Once analysis has taken place, those components are broken down even further into the time required to do each task. This allows for the estimate of the duration of the project as well as what and how many/much resources will be need to be dedicated to that particular project. The scope/quality of a project (often called the Scope of Work) is a clear, specific statement as to what has been agreed to be performed/achieved in a particular project. The scope expressly lays out the functions, features, data, content, etc. that will be included in the project at hand. It is also defined as saying that the scope clearly expresses the desired final result of a project. Resources/Cost is element of the Triple Constraints which applies to about what needs to be applied or assigned to the project in terms of money and effort in order to make things happen. This can be resources like manpower/labor, it can be materials needed for the job, resources...
Words: 396 - Pages: 2
...THE MEANING OF PROJECT: A project is a unique venture with specific start and end dates. This is different from an ongoing task that doesn't have an end date. Projects often involve different parts of an organization. Constraints on project include cost, schedule, resources, and quality. There is a give and take between these items i.e. you can't have it all. Usually projects are divisible into stages or phases each with their own set of priorities and goals. A project is an important and carefully planned piece of work that is intended to build or produce something new, or to deal with a problem. The Project Management Institute, U.S.A. has a good definition for it. According to the Institute, a project is a one-shot, time-limited, goal-directed, major undertaking, requiring the commitment of varied skills and resources. It also describes a project as: a combination of human and non-human resources pooled together in a temporary organization to achieve a fixed set of objectives The aforementioned descriptions emphasize that a project does not mean a material body or form, rather it denotes an operation undertaken temporarily to achieve a goal-directed objective within a limited time. In contrast, the Oxford English Dictionary states that a project is "a plan, scheme or table of something; a tabulated statement; a design or pattern according to which something is made; something projected or proposed for execution; a proposal." It is, therefore correct to...
Words: 1542 - Pages: 7
...ASSIGNMENT 1 IT PROJECT To purchase this visit here: http://www.activitymode.com/product/cis-517-wk-2-assignment-1-it-project/ Contact us at: SUPPORT@ACTIVITYMODE.COM CIS 517 WK 2 ASSIGNMENT 1 IT PROJECT CIS 517 WK 2 Assignment 1 - IT Project Management Assessment Research and read an article on recent recipients of the Project Management Institute’s Project of the Year Award. Write a two to three (2-3) page paper in which you: 1. Summarize how the project manager or team exhibited exceptional and ethical project management practices. 2. Discuss the role of the project manager or team, the organizational setting, the recipient’s approach to project integration management, and obstacles that had the potential of adversely impacting the triple constraints. More Details hidden... Activity mode aims to provide quality study notes and tutorials to the students of CIS 517 WK 2 Assignment 1 IT Project in order to ace their studies. CIS 517 WK 2 ASSIGNMENT 1 IT PROJECT To purchase this visit here: http://www.activitymode.com/product/cis-517-wk-2-assignment-1-it-project/ Contact us at: SUPPORT@ACTIVITYMODE.COM CIS 517 WK 2 ASSIGNMENT 1 IT PROJECT CIS 517 WK 2 Assignment 1 - IT Project Management Assessment Research and read an article on recent recipients of the Project Management Institute’s Project of the Year Award. Write a two to three (2-3) page paper in which you: 1. Summarize how the project manager or team exhibited exceptional and ethical project management...
Words: 633 - Pages: 3
...Manage Project Objectives needs to be SMART Project Life Cycle Initiate -> Define (Project brief / Project Charter) Plan -> Scoping (Project Plan / 5w’s 1h) Execute -> Doing these two work at the same time Monitoring -> Controlling Closing -> Reviewing / Terminate (Project Review Report and Project Closure Report) T&T T&T = Terminate and Tranfer Project Management mean discipline of planning, organizing and managing resources to successfully achieve the project goal. Project Management includes: * Tools * Techniques * Knowledge * Skills Good Project Management minimizes risks Project Management Triangle Quality * Inspect the Deliverable * Get Clients Approval Cost Time * Compare Receipts - Compare Gantt Chart & Timesheet With Budgets VS WBS Project Management Document Includes * Project Brief * Project Plan * Status Report * Review Report * Closure Report Project: Temporary activity that has a start date and end date which also has a temporary team. Stakeholder: Person who influence, affect and are interested in the project. Resources: Anything you need to finish the project. Time is NOT a Resource. #1 Cost is Labour Sponsor: A person that request the project and pays for it. / Who wants the project done. Client: A person that uses what you make. / Who will “consume” whatever...
Words: 387 - Pages: 2
...Executive Summary 4 1.0 Introduction 5 3.0 Project Implementation 5 3.1 Implementation Planning 5 3.1.1 Project Brief 5 3.1.2 Work Breakdown Structure 6 3.1.3 Sub Units 7 3.2 Project Implementation Control 7 3.2.1 Control Point Identification Chart 7 3.2.2 Milestone Charts 8 3.2.3 Project and Budget Control Charts 9 3.2.4 Network Diagrams 10 4.0 Use of a Gantt Chart 10 5.0 Project Evaluation Techniques 12 5.1 Project Constraints 13 5.2 Project Stakeholders 13 5.3 Goals, Objectives, and Project Requirements 13 6.0 Evaluation of This Project 13 6.1 Project Stakeholders 14 6.2 Goals and Objectives 14 6.3 Project Constraints 15 7.0 Recommendations for Improvement 15 8.0 Project Presentation 16 8.1 Project Implementation Procedure 16 9.0 Conclusion 17 Reference List 18 Executive Summary After a rigorous analysis of three projects, Golden Source International Ltd settled for the “Anti-Fungus” Silicone Sealant product launch. This paper looks at the project’s implementation, evaluation, and presentation. Lately, there has been little success of projects. Pundits believe that haphazard planning, inadequate implementation, relaxed control, and lack of project evaluation bring this about. This paper shows how the project manager that was assigned this task went about these procedures to record major success in major fronts. 1.0 Introduction Project management is quite a popular topic in the world of management today. This is occasioned by the fact that...
Words: 3345 - Pages: 14
...The Variations of the Classic Project Management Triangle The Project Management Triangle is a widely used phenomenon throughout the world in the current world, which is continuously evolving as well. The project management triangle basically comprises of Time, Cost and Scope and sometimes Quality is also included. The reason these aspects are highlighted as constraints in Project Management, because every project faces problems in all these areas. The best Project Managers are those who are able to balance out these constraints, so they can successfully complete the project. The basic idea followed by this Triangle is that, every project has a cost, a time in which it has to be completed and a set scope which is defined at the start of the project. If anyone of these aspects gets out of the control of the Project Manager, then the triangle will fall from one side. For Example, A project has reached its second milestone, and the Project Manager realizes he is behind the schedule, while the cost and scope are as planned. This means the triangle has fallen on one side. The main question that lies here is how to overcome the challenges faced in managing the triangle, by promising the constraints. These triple constraints and Quality are all very closely related to each other. The main problem for a Project Manager here is that if he concentrates on one aspect of the Triangle, it might negatively impact the other constraint as well. So, to strike a balance is not an easy...
Words: 781 - Pages: 4
...Overview The overview of the project says that the fiction corporation data centre is moving its primary data centre miles away by upgrading its network and correct any security flaws its infrastructure in the part of its move with a capital budget of $500,000 without interrupting business operations. . MCC helps in controlling costs, improving operational excellence and mitigating risk during device network and software refreshes with systematic, comprehensive, efficient approach on upgrading the network infrastructures.Fiction Corporation—a detailed project overview, and the identification of all stakeholders, including both Big-Proj and Fiction Corporation, as well as the 500 retail outlets. Initiating the project Project initiation is the reference that determines the scope and the process activity to solve on a problem in establishment of projects to achieve the aim and objectives representing the roles and responsibilities of the organization and its goals of customer expectations and requirements Designing the business need: Here, the initial step of business plan is considered as the most important entity as it provides a roadmap for success on a thoughtful and long term business plan. Business plan is illustrated as the description of the business future. It’s a document which predefines the projects plans and the business strategy consisting the set of resources which is based on the potential elements of business which depends on the change and growth of the...
Words: 2820 - Pages: 12
...Five Questions a Project Manager Should Ask About Every Estimate Anthony A DeMarco, President, PRICE Systems, L.L.C. Introduction Every day, project managers make decisions based on estimates. Since each decision can determine whether a project succeeds or fails, accurate estimates are critical. Projects launched without a rigorous initial estimate are five times more probable of experiencing delays and cancellations. Even projects with sound initial estimates are doomed to overrun cost and schedule budgets if they are not guided by rules of thumb and rigorous estimates-to-complete. Therefore, project managers must be armed with simple metrics and rigorous estimating models to be successful. Simple or complex, there are five questions project managers should ask about every estimate as they define and manage their projects. This paper stresses the value of accurate estimating, the project management discipline developing estimating rules-of-thumb and the application of those metrics to aid successful decision-making. Project Managers must be Accurate Estimators The key to successful project completion is an accurate estimate and a realistic risk assessment. Capers Jones, in a study of two hundred and fifty complex, software-intensive projects identified only twenty-five as successful in achieving their initial cost, schedule and performance objectives. Jones defines a failed project as one that is six months over schedule and fifteen percent over its cost estimate (p.5). Cost...
Words: 1955 - Pages: 8
...The Impact of Project Portfolio Management on Information Technology Projects Sergio Ricardo Calderini London Business School Regent’s Park, London NW1 4SA, United Kingdom e-mail: scalderini.mba2004@london.edu Bert De Reyck London Business School Regent’s Park, London NW1 4SA, United Kingdom Tel. +44 20 7706 6884; Fax. +44 20 7724 7875; e-mail: bdereyck@london.edu Yael Grushka-Cockayne London Business School Regent’s Park, London NW1 4SA, United Kingdom Tel. +44 20 7262 5050; Fax. +44 20 7724 7875; e-mail: ygrushka.phd2003@london.edu Martin Lockett Ashridge Berkhamsted, Hertfordshire, HP4 1NS, United Kingdom Tel. +44 1442 841025; e-mail: martin@mlockett.com Marcio Moura London Business School Regent’s Park, London NW1 4SA, United Kingdom e-mail: mmoura.mba2004@london.edu Andrew Sloper CVC The Customer Value Company 48 St Mary's Road, Long Ditton, Surrey KT6 5EY, United Kingdom Tel. +44 7768 861920; e-mail: andrew.sloper@customervalue.co.uk February 2005 Ashridge Business School UK - http://www.ashridge.org.uk The Impact of Project Portfolio Management on Information Technology Projects Abstract The ever-increasing penetration of projects as a way to organise work in many organisations necessitates effective management of multiple projects. This has resulted in a greater interest in the processes of project portfolio management (PPM), with more and more software tools being developed to assist and automate the process....
Words: 8228 - Pages: 33
...Project Management 1. Discuss the primary function of a project plan. According to the Project Management Book of Knowledge, the project plan is "...a formal, approved document used to guide both project execution and project control. The primary uses of the project plan are to document planning assumptions and decisions, facilitate communication among stakeholders, and document approved scope, cost, and schedule baselines. A project plan may be summarized or detailed." Therefore, the Project plan should document the scope, cost and schedule of a project. These 3 factors together comprise the triple constraint, so called because if any one of these factors changes, the other 2 factors must be adjusted to maintain the quality of the finished product. The project plan also outlines any assumptions about the project and serves as a communication tool amongst stakeholders. The stakeholders are defined as anyone who will be affected by the project. At a minimum, a project plan should answer the following questions: 1) Why-Why is this project being undertaken, what are the goals? 2) What-What work will be completed on this project? What is the scope of the project? 3) Who-Who will be involved in this project and what are their responsibilities? 4) When-What is the timeline, what are the milestones and when do they need to be accomplished? 2. List and describe the nine (9) categories of information needed in a project master plan. 1) Introduction-This...
Words: 682 - Pages: 3
...Task 1 – P5 Any projects are carried out under certain constraints. Traditionally, they are cost, time, and scope. The Project Management Triangle that called Triple Constraint is a model of the constraints of project management show on the corners of the triangle to show opposition. The problems that may have arisen in relation to the triple contraint :- 1. Delay in the completion date – due to unavailability of resources (either people or materials) : The project delay due to faced huge issues as steel prices rocketed and concrete supply became unpredictable. This will delay the time for completions. To restore the triple constraint is to find alternative resources by finding other suppliers and/or ensure the supply lines continued – with main contractor Civilco crucially producing the goods at a time as this will reduce the scope and it may also reduce budget. 2. Budget over-runs – due to either the requirement for additional resources to complete the project on time, or as result of additional work being required or additional costs of resources (either people or materials) : This happen when the project at 70 per cent complete, the worldwide financial crisis struck, posing the biggest challenge in the three-phase initiative. In order to make it on time, as a project manager, need to add on resources, increase the mainpower and increase budget to pay for overtime so that it can complete within the time frame. As a project manager established and gain best practice...
Words: 890 - Pages: 4
...MGT/437 Version 4 Project Management | Copyright © 2009, 2006, 2004 by University of Phoenix. All rights reserved. Course Description This course examines project management roles and environments, the project life cycle, and various techniques of work planning, control, and evaluation for project success. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Kerzner, H. (2006). Project management: A systems approach to planning, scheduling, and controlling (9th ed.). Hoboken, NJ: Wiley. Meredith, J. R. & Mantel, S. J. (2006). Project management: A managerial approach (6th ed.). Hoboken, NJ: Wiley. All electronic materials are available on the student website. Software Microsoft® Project® 2007 (Virtual Desktop) Week One: Project Definition | | Details | Due | Points | Objectives | 1.1 Determine the importance of project management in the current...
Words: 1839 - Pages: 8
...risk management plan. It provides a general description of why risk management is essential to effectively managing a project and describes what is needed before risk management can begin. As organizations begin new projects they begin operating in an area of uncertainty that comes along with developing new and unique products or services. By doing so, these organizations take chances which results in risk playing a significant part in any project. The purpose of the risk management plan is to establish the framework in which the project team will identify risks and develop strategies to mitigate or avoid those risks. However, before risks can be identified and managed, there are preliminary project elements which must be completed. These elements are outlined in the risk management approach. This project is considered a medium risk project as it has an overall risk score of 24 on a scale from 0 to 100. The project risk score is the average of the risk scores of the most significant risks to this project. A risk score below 16 is low risk project, a score between 16 and 45 is a medium risk project and a score above 45 is a high risk project. Before risk management begins it is imperative that a foundation is established for providing structured project information, thus, the following project elements were completed and defined prior to developing this Risk Management Plan: • Define work scope, schedule, resources, and cost elements o Develop project WBS/WBS...
Words: 1968 - Pages: 8
... Project Management BUS375006VA016-1118-001 November 27, 2011 1. Compose a synopsis of the case, using a maximum of 120 words. Wilfred Livingston the president of Crosby Manufacturing Corporation had called a meeting with the department managers to resolve the problem they have with their management cost and control systems (MCCS). In order to update the current MCCS and to increase the company’s business base and growth Livingston wants to replace the present computer with more advanced model. They discuss about the feasibility study and the cost and time constraints to implement such a change. The EDP manager adds that they should also do evaluation of vendors besides the benchmarking tests. Livingston appoints Tim Emary, who is inexperienced, as the project leader of the planning group and gives a time line for the project to finish. 2. Discuss whether or not Livingston’s selection of Emary as project manager a mistake. We see in the case study that Crosby Manufacturing Corporation’s president, Livingston, appointed Tim Emary to be project manager over the management cost and control system project. While Emary is a capable planner, he is not from either the formal project management group or the EDP department, functional departments from which project managers usually come. I think Livingston’s selection of Emary as a project manager was a mistake. The project is very important and it...
Words: 1126 - Pages: 5
...Communications Management Plan Template This Project Communications Management Template is free for you to copy and use on your project and within your organization. We hope that you find this template useful and welcome your comments. Public distribution of this document is only permitted from the Project Management Docs official website at: www.ProjectManagementDocs.com Communications Management Plan Company Name Street Address City, State Zip Code Date Table of Contents Introduction 2 Communications Management Approach 2 Communications Management Constraints 3 Stakeholder Communication Requirements 3 Roles 4 Project Team Directory 6 Communication Methods and Technologies 6 Communications Matrix 8 Communication Flowchart 9 Guidelines for Meetings 9 Communication Standards 10 Communication Escalation Process 11 Glossary of Communication Terminology 12 Introduction The purpose of the Communications Management Plan is to define the communication requirements for the project and how information will be distributed. The Communications Management Plan defines the following: • What information will be communicated—to include the level of detail and format • How the information will be communicated—in meetings, email, telephone, web portal, etc. • When information will be distributed—the frequency of project communications both formal and informal • Who is responsible for communicating project information ...
Words: 3808 - Pages: 16
