Project Planning In Project Management

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PROJECT PLANNING:
What is project planning:
The project planning process is a broad concept which usually entails the objectives and the requirements of the project in terms of :
1. Project Scope
2. Project schedule
2. Resource Requirement
3. Project Cost estimation
4. Project Quality and
5. Project Risk Management
These requirements are then converted to the Work Breakdown Structure, tasks list, Gannts charts, resource assignment and risk register, etc. After a project charter document which once gets approved, acts as a green signal for the project to be initiated. Based on the project charter document and the project requirement document, a project plan is formulated.
Why do we need project planning in Project Management:
In order for a
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Resource Requirement Estimation Carrying out an estimate of the type (skill set/ experience, etc.) and people, software required to perform translation using tools- Projectex and Studio software.
Task durations Estimation Generate an approximate of the time frame needed to complete individual activities with estimated resources using software Projectex. PMs at Akrapovic always add tolerance for duration of activity to avoid delays in submitting translated document before specified deadline.
Schedule Development PM analyses sequences of activities to be conducted, the time frame required, proof readers, translators and software required, and constraints arising due to scheduling. This analysis helps generate a project schedule which is approved by stakeholders (client company) This serves as a guideline for the project.
Fig. 2
• Project Resource
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Six Sigma
2. Cost of Quality
3. Total Quality Management
4. Failure Mode and Effective Analysis
5. International Organisation for Standardization
A project must align with principles and policies of project management to deliver quality output from the project.
• Risk planning
Risk Identification Risk arising in a project can be managed successfully depending on whether the team is hands-on in identifying & act immediately to reduce the effect of risks on project.
The risk should be classified into different categories based on the impact.

Risk Assessment This involves assessing the risk probability and impact with the team members and indicating the level of tolerance of risk that will be acceptable to client companies and the strategy to be implemented if risk level crosses the tolerance level.
Akrapovic may be subject to risks such as Technical problems, delays or inability in meeting deadlines.
Risk Response The PM or risk planner must discuss responses that should be avoided, accepted and actions that can mitigate or transfer the risk.
Risk Management 1.Prepare a mechanism which will outline how to approach a risk, whom to ask for advice, and what tools to use.
2. Specify the roles and responsibilities in case a risk

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