Thus we can conclude that the project management involves planning , scheduling, controlling and closing stage. Each stage is equally important.If we fail in any of these stages it affects the project. The successful companies follow these steps to implement and execute their projects successfully.
Forecasting Making assumptions about what will happen in the future. Qualitative forecasting uses expert opinions. Quantitative forecasting uses mathematical and statistical analysis. All forecasts rely on human judgment.
Contingency Identifying alternative courses of action that can be implemented to meet the needs of changing circumstances. Contingency plans anticipate changing conditions.
Scenario A long-term version of contingency planning. Plans made for each future scenario. Increases organization’s flexibility and preparation for future shocks.
Benchmarking Use of external comparisons to better evaluate current performance and identify possible actions for the future. Adopting best practices of other organizations that achieve superior performance.
Benchmarking contd.. Stages 1)Decide what to Benchmark. 2)Gather Information. 3)Analyze. 4)Implement.
Scheduling Scheduling using Gantt chart Rescheduling using Gantt chart
Constructing Gantt Chart The steps to construct a GANTT chart are: 1. Schedule the critical tasks in the correct position. 2. Place the time windows in which the non- critical tasks can be scheduled. 3. Schedule the non-critical tasks according to their earliest starting times. 4. Indicate precedence relationships between tasks.
Constructing Gantt Chart Example of an early GANTT chart construction: Step 1. Schedule critical tasks. Step 2. Place time windows for non-critical tasks.
TYPES OF CONTROLS Feedforward Concurrent Feedback
Closing Closing includes the formal acceptance of the project and the ending thereof. Administrative activities include the archiving of the files and documenting lessons learned. Project close Contract closure