PROJECT MANAGEMENT ASSIGNMENT

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2. Corner stone of Project (Important Factor) and importance?

Ans. SCOPE: COST: It is an estimate used as a basis for control It helps to measure variation from baseline Further, take corrective action Application of cost control procedures is done to follow financial progress Poor scope definition is the major contributing factor to cost overruns in the engineering and construction industry. Defining the scope of the project helps to estimate cost and time. A good project scope is written, well defined, clearly understood and achievable.

SCHEDULE: It helps to Determine timing and assembly of project activities to give overall completion time Promotes teamwork Reflects project strategy

QUALITY: Quality is delivering a project that will at least meet and preferably exceed the clients expectations through actions and deliverables that create an excellent product (project).

3. Stakeholder of Project?
Ans. Project stakeholders arei. Customer/client Provide a point of contact Fulfill responsibilities outlined in the statement of work Approve Measurable success indicators, deliverables, budget, schedule Use of customer resources Changes Closing Share lessons learned

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Project sponsor Identify reason for the project, expected outcome, success measures, time frames Help obtain resources and remove barriers.

iii. Project manager Define and manage customer expectations. Coordinate development of the project plan. Monitor and control project work according to the approved plan. Communicate project status by preparing status reports and conducting progress review meetings Establish and follow a change management process. Lead the project team and resolve conflicts between team members. Maintain the project notebook. Conducting project close-out activities. iv. Project team Identify work tasks Estimate the duration of work tasks Help prepare the project network diagram Honestly report work status Keep the project manager informed on project issues Attend scheduled progress review meetings Raise issues important to the projects success Keep their functional managers updated Participate in the project close-out

v.

Senior management Assign project manager Approve project plan/changes Provide resources Lead continuous improvement efforts Establish priorities among projects Provide methods for performing work Approve close-out of project Help resolve issues and conflict Support the project manager Internal cross-functional organizations Provide necessary resources for the project. Manage any work elements, or sub-projects that have been assigned to the functional group. Interface with the project manager to be sure all the work is done as planned.

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External third-party suppliers Provide the deliverables, products, and/or services contracted for. Prepare status reports and attend review meetings as required. Meet all contractual commitments according to terms and conditions agreed upon.

4. What should Statement of Work consist of?

Ans. It is a written description of the work to be performed under a purchase order to satisfy particular needs. In simple transactions, it can consist of the line items on the face of the purchase order that define what is being purchased; each item of which may include specifications. IT SHOULD CONSIST OF: Detailed statement of the purpose, objective or goals Personnel job classification/skill level Name/identification of assigned contractor personnel Identification of all significant material to be developed/delivered Completion/acceptance criteria Delivery timeframe/liquidated damages Estimated time schedule (start date, end date, milestones) Estimated number of work hours Fixed cost for each task (fixed price ceiling is the sum of all tasks) Everything pertinent to the successful completion of the purchase order (e.g.-technical specifications, floor plans, etc.)

5. Quality of a good project manager?

Ans. 1. You should be a great organizer. 2. You should communicate more often. 3. You should be honest with clients. 4. You should look for solution instead of ones to blame. 5. You should like to work with customers.

6. You should understand business story laying behind the project. 7. You should understand technical issues which appears during implementation. 8. You shouldnt hesitate whether to escalate or deliver negative feedback whenever needed. 9. You shouldnt cry over unfair opinions about your work and your projects. 10. You should always expect unexpected.