During the execution of a project, project control and documentation becomes an essential tool to managers and other participants who are in the construction process. The aim of the cost control is to monitor actual cost performance and identify improvement opportunities. Almost all the projects are in need to be guided throughout, in order to receive the expected and required output at the end of the project.. It is important to note that efficient cost control is not limited to the planning stages; we must maintain it throughout the life of the project or business. Cost-control procedures are used to create cost-efficient projects.
The Project Cost Management have the one key component that are required to making sure that the project will be complete within the budget allocated at the beginning of the project. The Project Leader must know all the basic of the Project Cost Management to ensure that the project run smoothly. The project leader must make sure that all the data in the Project Cost Management are well represent on the proposal as it will make it looks like the member of the project have standby to overcome the consequences of any action that will be taken based on the budgeting and the costing that they have presented. There are a few key concepts that need to be jot down, the PCE, PCB and PCC. These three are the main fundamental that have to be included inside the project cost management.
There is a final step for the management of the projects, which are very important ... according to Mortem. For many projects, it is a really good idea to create some time to post a mortem to ensure that the customer is not only satisfied, but they have nothing to overlook. If there are items that the customer or project manager and their team felt really good or If you are not going properly, this is the right time to pick them up. This will help you and the client to modify your options for future projects. 1.4 Who is a stakeholder in a
This related phases is important to make sure the overall project from the start to end will be manage effectively in order to avoid any risk or problem in the future. In other words, the project team should follow the schedule and the timeline. The other purpose of project life cycle is to capture and document the best experiences within the organization. So, the processes within each project phase can be improved continually and applied on future similar projects. It would give benefits to the next similar project which can be easier for them to apply past project throughout the new project management activities.
DEFINE AND DESCRIBE THE ROLE OF A PROJECT MANAGER IN PROJECT MANAGEMENT. A project managers job to assess the project as a whole and to ensure that all its components are functioning smoothly so that the end objective can be achieved. He is required to conduct 1. Integration of Activities : The work carried out in a project is divided among different teams. Project management involves the co-ordination of the work carried out by all the teams, checking of the work done, approving changes before execution etc.
It is often applied to the analysis of a project network logic diagram to produce maximum practical efficiency. Definition: The Critical Path Method is a step-by-step project management technique for process planning that defines critical and non-critical tasks with the goal of preventing time-frame problems and process bottlenecks. Processes of CPM: 1.Specify the individual activities- From the Work Breakdown Structure, a listing can be made of all the activities in the project as it can be used for adding sequence and duration information in the next steps. 2. Determine the sequence of those activities- The activities that are present in the project some are dependent upon the completion of others activities.
Flow charts of all the critical sequences of the various activities of the project. Any quality activity which lies on the critical path or critical chain of the project and which will require special priority or resources. 8.3 Quality Control In essence this is all about the hands-on establishment and control that the deliverables and all their requirements have been met. Quality control involves the necessary activities that are needed to identify, monitor and asses that the project outcomes comply with the relevant specications and standards. In order to do proper control, the following input is needed: The quality management manual so to understand management's intent and commit- ment to quality.
Planning and scheduling are the most important aspects contributing to the success of a project. How these factors affect the construction productivity is studied and discussed in this project. With proper planning and scheduling, there is a great chance that the work would be completed within the targeted cost and time. It is important that proper work would be completed within the optimum usage of materials, manpower and machinery be adopted. The techniques normally been used for project scheduling, are namely the Gantt chart and critical path method.
The methodology provides the guidelines which can be followed while managing the whole project. Methodologies helps maintaining balance between cost, quality, time and scope. There are different methodologies available and the choice is dependent on nature of the project and delivery time. So methodology is the path which we are going to follow to complete our projects in given time and ensuring the maximum output. By this we can say that methodology is the key factor of success of a project.
In the budgeting process, the main advantages of traditional budgeting are planning, control as well as performance management. Planning is a part of the long-term process, it compels manager to think ahead of the game as well as trying to anticipate potential issues and solutions. Planning is about achieving goals and objectives by determining the activities, every organization requires planning so that it can operate its different departments and segments effectively (Shim, Siegel and Shim, 2012). Control is also part of the advantages of budgeting, control involves steps done by the management. Management ensures all members of the organization play a role in order to achieve the goals as well as managing the activities.