For Ann Harris
Bapestar1
PM620IP1.pptxScheduling and Cost Control
Christopher Mihun
PM620-1801B-01
Professor Borodin
Introduction
Project differ from one organization to another.
There are periods when an organization uses a project for special functions.
There are those which use projects as part of an integrated business platform and architecture.
Therefore, for a successful implementation of a project:
Human resources
Equipment and materials
Financial resources and facilities
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Why are scheduling and cost control important for project success?
These are a closely related concept for project management.
The importance of scheduling and cost control include:
Efficiency in project management (Kerzner, 2015).
Profitability through ensuring good resources allocation and utilization
Satisfying consumer needs and meeting delivery timelines (Rosli, Haziq, 2017).
They are core aspect of project planning to meet project costs.
Scheduling and cost control are essential for project success.
Based on Rosli, Haziq (2017), project budgeting helps in determining the necessary and needed resources to effectively manage a project. It is important to consider the process and affiliation in consideration to performance issues and resources. It is also important to effectively improve and coordinate the different processes of budgeting such as constraints of costs to a project. Rosli, Haziq (2017), further argues the process of managing cost and budgets will either influence the success and failure of a project. Therefore, for a successful project, a timely performance of a project team will determine the ability to meet the set timelines and quantifiably improve and meet the necessary demands of a project. All these imply to the concept of a project success measurement in terms delivery of the needed and necessary deliverables. Covering all the necessary deliverables at the right time and within the needed framework, helps to improve and meet the necessary demands of the project stakeholders.
It is also important to understand the necessary project lifecycles and how each lifecycle impacts a project development differently. Therefore, it is important for project managers to understand the process of project management and how to effectively develop the necessary process implementation to ensure successful implementation of a project. As a manager, one should always possess good communication skills to improve and increase communication plans for the project team and overall communication with the stakeholders. Good communication plans will help the project team to identify the necessary project goals, deliverables, timelines, and resource allocation, keep track of project changes and project progress. The importance of project scheduling is to ensure there is a control for project success and meeting the needed successful projections based on evaluations and plans. It is also ideally a complete concept to ensure there is a considerable performance to help, develop and increase effective control of schedule and project cost.
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Who should be in control of the scheduling and cost control process?
There are different projects which can be controlled by different actors.
There is the project manager working closely with the project team to oversee the budget allocations (Kerzner, 2015).
There are also business analysts and who will work closely with stakeholders in overseeing project actions (Rosli, Haziq, 2017).
There is also stakeholders who have the ability for an effective planning and realization of project demands and needs.
Project managers need to develop different processes such as scheduling to align to operational and project needs. The importance of meeting scheduling will help to use the general resources such as organization, planning and improving overall scheduling of a project. The utilization of project scheduling tools can be used to develop scheduling tasks and timelines. This is essential since it will also indicate all the necessary resources such as costs, timelines, resource constraints and monitoring the project deliverables through charts and planning. It is important and clear to apply cost controls to fully realize the planning and resource scheduling of a project to meet the expectations of a project. Therefore, project managers and business analysts will have to develop resources and fully increase and plan on operational effectiveness. There is also the nature to employ business analysis in eh project planning. They will be able to monitor the progress and develop feedback.
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Schedule and Cost Process Planning
What are the major provisions of your plan?
The processes one could implement to control and plan on scheduling and cost include:
Determine the project budget and deliverables
Conduct risk assessment due to delays
Conduct performance reviews (Kerzner, 2015).
Measure budget against deliverables
Conduct and measure continuous reports for the project
Develop change control processes and review any change requests
There is the need of understanding what one needs to develop to choose a given scheduling process and cost controls. It becomes hard to develop a reasonable presentation or outcome needed if a project manager does not understand the process of producing a given product or allocating a given resource. It is also important and equally ideal in managing the necessary project processes and schedule and cost planning. A project manager applying the necessary processes will help in improving and meeting the expectations of a company. For instance, if a project manager wanted to create a reasonable project work breakdown structure. It is also important to choose the top down approach for identifying and meeting the constraints of the project. A project manager should understand the functions and applications of project management tools for project scheduling and cost realization. It will be challenging if a wrong processes was used in evaluating project costs and schedules.
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Schedule and Cost Process Planning
How difficult would it be to implement your plan?
The planning and estimation on the project budget and progress will hinder control.
The difficult in controlling change requests and keeping the project progress grounded (Kerzner & Kerzner, 2017).
Why?
Challenges due to communication, human resource planning and budge constraints affecting performance.
There are a number of project managing processes which are essential in offering a logical description and formatting of critical information for planning. These processes require a detailed organization, planning and control of activities in the project development and resource planning. For instance, organizations or stakeholders will consider using their own project appraising methods which will defer from the project manager’s culture and philosophy.
It is also important to use skilled personnel with experience in project planning, budgeting and allocation of resources. Reporting is also another processes to use for communication and either presentation of information during planning and controlling project scheduling. Therefore, to ensure there is a control for project planning a skilled manager will employ technology, good communication processes and this will consider the redevelopment and configuration of a good project development processes. The application of different resources to fully understand how to process and use the cost budgeting methods sparingly.
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Benefits of Implementing these Processes to your Organization
How will your plan positively affect the project?
The plan will offer a process for re-evaluating the project planning processes.
It will positively impact the organization’s project:
Budget planning and future project management
Will ensure a positive project quality assurance (Kerzner & Kerzner, 2017).
Development of methods for planning and controlling project performance
Finally, an essential of focusing on project communication and progress development.
Successful delivery of the project will rely with the planning and operational management of the project team. There is the need of taking into consideration, the budget planning. This will evaluate the importance of controlling project resource allocation, utilization and financial development. To ensure a proper control of the project development, there is the need for ensuring a productive performance especially through leading and increasing project performance and creativity. The development of qualified personnel will ensure a productive staffing structure will also be taken into consideration. More so, it will consider a platform for managing quality assurance. Quality will effectively impact how the project considers performance and project allocation. Quality assurance is important and essential to improve and manage its processes. There is the need of focusing on quality management and controlling the different aspects of quality to meet the expectations of project stakeholders. It is important and essential to highlight and improve the necessary processes for achieving quality.
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Benefits of Implementing these Processes to your Organization
What could happen if an effective scheduling and cost control plan were ignored?
Poor allocation of the project resources, and financial planning
Poor project control and unsuccessful delivery of the project deliverables
Lack of an effective project progress reporting (Kerzner & Kerzner, 2017).
An ineffective system for project quality assurance, planning and delivery.
This will also impact the ability to develop value for its stakeholders and consumers.
The use of a project manager, who could supervise and initiate stable communication with the stakeholders. The project could have reduced the design and costs estimates failures by developing a proper project feasibility study and fully develop development designs. Development of a positive communication between the stakeholders is also through effective communication and to achieve this the company needs to develop project control. Quality assurance and delivery of a project is a measure to evaluate the necessary processes and activities critical to a successful project management. A project success focuses on the role and importance of managing project quality. The lack of an essential measure for progress, performance and productivity through cost evaluations will reduce and hinder positive integration. Therefore, without an effective incorporation of effective scheduling and cost planning the organization will incur losses and this will impact project successful implementation. As a result, this will reduce value proposition for the organization.
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References
Kerzner, H. (2015). Project management 2.0: leveraging tools, distributed collaboration, and metrics for project success. John Wiley & Sons.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Martinelli, R. J., & Milosevic, D. Z. (2016). Project management toolbox: tools and techniques for the practicing project manager. John Wiley & Sons.
Rosli, Haziq. (2017). Project Management Review: How the Effectiveness of Project Management lead to Project Success. Project Management Institute.
Snyder, C. S. (2014). A Guide to the Project Management Body of Knowledge: PMBOK (®) Guide. Project Management Institute.
