Cycle and Advantages of Project Management
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1. What Is Project Management?
• It is determining: Plan of action Goal/Objective Schedule of project activities Time limits Risks and shortcomings Present situation Vertidigm.co
2. Who Plays Vital Role? Sponsors Project Managers Subject matter expert Project coordinators Team members Vertidigm.co
3. What Sponsors Do? Finance the project Commission the project Helps in defining the goals Offer support Vertidigm.co
4. What Project Managers Do?
Look after day to day advances of the project Resource allocation Motivate and manage team deliveries Vertidigm.co
5. What Subject Matter Experts Do? Handover inputs on feasibility Update team Develop mutual understanding between team members Work on expertise development Vertidigm.co
6. What Project Coordinators Do? Act as bridge between the team and the manager Stay updated with the advances Prepare project plan Update time lines Prepare project report
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7. What Team Members Do? Work on project Execute the plan Give out deliveries Vertidigm.co
8. Good Project Management Versus Poor Project Management Good Project Management:
Effective handling of project Pushes to showcase full potential
Poor Project Management:
Mar creativity No accountability to risk
Earlier identification of problems Time-savior
Hampers productivity
Cost-effective production
Budget exceed
Results surpass expectation
Infect the organization
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9. Cycle of project management
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1. Initiative Sketch the structure Set the goal Checking feasibility Anticipate result Vertidigm.co
2. Planning Draft the plan of the project Calculate costing Set up scope Set the deadline Think about risks
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3. Execution, Monitoring and Controlling Check out what to deliver Meet the clients Resolve the issues Check the performance Address changes
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4. Closure Settle the crisis Disclose the result Prepare report Take feedback Vertidigm.co
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