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Casual Articles - What is Project Management?
The hardest part of writing any type of literature is the first sentence. When you look at the project as a whole, it can seem like an insurmountable task. A book, especially an electronic book that will be viewed by millions of people, can be an intimidating obstacle; even to an expert author.The key to writing an e-book is to break it down into smaller more manageable tasks. That means that writing the book from beginning to end in order will be an unlikely scenario. If you think of mountain climbing, the task is similar: you can't scale it without taking your first step. You can sit around and plan it; but no matter how good the plan is, you will never reach the peak if you forget to simply take your first step towards it.So how do you stay motivated during such a strenuous and drawn-out project? The idea is to outline the book, but to focus on one section at a time. It doesn't even have to be written in order. It is important to write at times where you have bursts of information. For example, I have not written my own e-book yet; but I plan to. So where will I start?Let's think about this for a minute. Go visit my au
The project plan acts as a guide for project team by describing what needs to happen, who needs to do it and when. The project plan also acts as a baseline for measuring project performance. The project manager compares actual work completed against work planned; actual costs against estimated costs, etc.
Scope Management Scope Management ensures that the project includes all the work required, and only the work required, to complete the project successfully. To manage scope a project manager needs to:
Define scope in terms of the project deliverables Respond appropriately to requests for changes by stakeholders (Be aware that changes to scope will almost always have an effect, usually negative, on project costs and/or timelines. This means you need to balance key stakeholder desires & demands against their needs and against their expectations regarding project costs and timelines.) If appropriate, make changes to project scope based on project performance (reduce the number and/or complexity of deliverables if performance is inadequate)
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Let's analyze the results of some actual futures day trading system. In 2005 this system made 159.75 ES pts, 1 point being equal to $50. It accomplished this with exactly 497 trades, which amounts to about 41 trades per month on average. The profits I quoted are hypothetical. Hypothetical profits are for vendors (that's where the word 'hype' derives from). As traders we should be interested in actual profits. Let us estimate them then. The system uses limit orders which can cause 'non-fill' slippage which happens when a trade really does not take place because its order is not filled, but the profit from such a phantom trade is taken into account inflating the system hypothetical profits. Moreover, whenever you cannot exit with a limit order (at the session close), you experience regular slippage that happens to virtually all market orders and to a lesser extent to stop orders depending on the market liquidity and the number of contracts one trades. This kind of slippage in ES usually does not exceed 1 tick per trade for market orders and can be conservatively estimated at 0.5 tick on average for stop orders for the 1-5 lot orders.In
Integration Management - Develop and manage a project plan
Scope Management - Plan, define and manage project scope
Time & Cost Management - Create a project schedule, plan resources and budget costs
Quality Management - Develop a quality plan and carry out quality assurance and quality control activities
Human Resource Management - Perform organizational planning, manage staff acquisitions and promote team development
Communications Management - Develop a communications plan
Risk Management - Identify risks, prepare risk mitigation plans and execute contingency actions
Procurement Management - Focus is soliciting, selecting, and managing vendors to complete project work or supply project materials
The degree to which a Project Manager can carry out each of these activities is based on the nature, size and complexity of the project and on the level of project management experience.
Brief History
Project management was first used to manage the US space program. It's practice has now been expanded rapidly through the government, the military and the corporate world. Here is the main definition of what project management is:
1. Project management is no small task.
2. Project management has a definite beginning and end. It is not a continuous process.
3. Project management uses various measurement tools to accomplish and track project tasks. These include Gantt and Pert charts.
4. Projects frequently need resources on an add-on basis as opposed to organizations that have full-time positions.
There are three main points that are most important to a successful project:
1. A Project must meet customer requirements.
2. A Project must be under budget.
3. A Project must be on time.
There are four phases a project goes through. The role of the project manager in project management is one of great responsibility. It's the project manager's job to direct and supervise the project from beginning to end. Here are some other roles:
1. The project manager must define the project, reduce the project to a set of manageable tasks, obtain appropriate and necessary resources, and build a team or teams to perform the project work
2. The project manager must set the final goal for the project and must motivate his workers to complete the project on time.
3. A project manager must have is technical skills. This relates to financial planning, contract management, and managing creative thinking and problem solving techniques are promoted.
4. No project ever goes 100% as planned, so project managers must learn to adapt to change.
There are many things that can go wrong with project management. These are commonly called barriers. Here are some possible barriers:
1. Poor Communication - Many times a project may fail because the project team does not know exactly what to get done or what's already been done.
2. Disagreement - Project must meet all elements in a contract. Customer and project manager must agree on numerous elements.
3. Failure to comply with standards and regulations.
4. Inclement weather.
5. Union strikes.
6. Personality conflicts.
7. Poor management
8. Poorly defined project goals
Project Management Processes The following processes are derived from the Project Management Institute's - American National Standard, though they are modified for practicality and are highly simplified. Note that the standard includes many more management process activities. Each management process below is described primarily in terms of its overall objectives and core activities.
Integration Management
The objective of integration management is to coordinate the various interrelated processes of a project. To properly manage these activities a project manager needs to do the following:
Develop a project plan
Acquire approval of the plan
Manage the implementation of all the activities described in it
Update the plan as changes occur
Communicate the changes to key project stakeholders
The project plan:
Describes the objectives of the project and how those objectives will be reached
Describes the project deliverables
Contains all of the activities that will occur for the various project Management processes. The plan should have a section which deals with scope, a section that deals with the project schedule, with risks, etc.
The project plan acts as a guide for project team by describing what needs to happen, who needs to do it and when. The project plan also acts as a baseline for measuring project performance. The project manager compares actual work completed against work planned; actual costs against estimated costs, etc.
Scope Management Scope Management ensures that the project includes all the work required, and only the work required, to complete the project successfully. To manage scope a project manager needs to:
Define scope in terms of the project deliverables Respond appropriately to requests for changes by stakeholders (Be aware that changes to scope will almost always have an effect, usually negative, on project costs and/or timelines. This means you need to balance key stakeholder desires & demands against their needs and against their expectations regarding project costs and timelines.) If appropriate, make changes to project scope based on project performance (reduce the number and/or complexity of deliverables if performance is inadequate)
Docum
The most common reason people give up their pets is moving. Sadly, we live in a society where we feel it is OK to get rid of something once it has become an inconvenience, even living creatures. Before you consider giving up your pet because you are moving please read this article.People usually give up too quickly when looking for rental property that allows pets. They tend to jump on the first rental that they see. It may take a couple of extra weeks, or require more work on your part but you need to take responsibility for your pet. You could also widen your search. Most people check the classified ads but many landlords list their property through real estate agents. Ask your friends, relatives, and co-workers to keep an eye open for available rental property for you. Check different neighborhoods and different areas. The house might be in a different neighborhood than you would prefer, it might be a little farther from work, it might cost a little more. You may need to compromise a little if it means being able to keep your pet.Another tip is to check out the ads that say "NO PETS". During the interview, ask the landlord if
Brief History
Project management was first used to manage the US space program. It's practice has now been expanded rapidly through the government, the military and the corporate world. Here is the main definition of what project management is:
1. Project management is no small task.
2. Project management has a definite beginning and end. It is not a continuous process.
3. Project management uses various measurement tools to accomplish and track project tasks. These include Gantt and Pert charts.
4. Projects frequently need resources on an add-on basis as opposed to organizations that have full-time positions.
There are three main points that are most important to a successful project:
1. A Project must meet customer requirements.
2. A Project must be under budget.
3. A Project must be on time.
There are four phases a project goes through. The role of the project manager in project management is one of great responsibility. It's the project manager's job to direct and supervise the project from beginning to end. Here are some other roles:
1. The project manager must define the project, reduce the project to a set of manageable tasks, obtain appropriate and necessary resources, and build a team or teams to perform the project work
2. The project manager must set the final goal for the project and must motivate his workers to complete the project on time.
3. A project manager must have is technical skills. This relates to financial planning, contract management, and managing creative thinking and problem solving techniques are promoted.
4. No project ever goes 100% as planned, so project managers must learn to adapt to change.
There are many things that can go wrong with project management. These are commonly called barriers. Here are some possible barriers:
1. Poor Communication - Many times a project may fail because the project team does not know exactly what to get done or what's already been done.
2. Disagreement - Project must meet all elements in a contract. Customer and project manager must agree on numerous elements.
3. Failure to comply with standards and regulations.
4. Inclement weather.
5. Union strikes.
6. Personality conflicts.
7. Poor management
8. Poorly defined project goals
Project Management Processes The following processes are derived from the Project Management Institute's - American National Standard, though they are modified for practicality and are highly simplified. Note that the standard includes many more management process activities. Each management process below is described primarily in terms of its overall objectives and core activities.
Integration Management
The objective of integration management is to coordinate the various interrelated processes of a project. To properly manage these activities a project manager needs to do the following:
Develop a project plan
Acquire approval of the plan
Manage the implementation of all the activities described in it
Update the plan as changes occur
Communicate the changes to key project stakeholders
The project plan:
Describes the objectives of the project and how those objectives will be reached
Describes the project deliverables
Contains all of the activities that will occur for the various project Management processes. The plan should have a section which deals with scope, a section that deals with the project schedule, with risks, etc.
The project plan acts as a guide for project team by describing what needs to happen, who needs to do it and when. The project plan also acts as a baseline for measuring project performance. The project manager compares actual work completed against work planned; actual costs against estimated costs, etc.
Scope Management Scope Management ensures that the project includes all the work required, and only the work required, to complete the project successfully. To manage scope a project manager needs to:
Define scope in terms of the project deliverables Respond appropriately to requests for changes by stakeholders (Be aware that changes to scope will almost always have an effect, usually negative, on project costs and/or timelines. This means you need to balance key stakeholder desires & demands against their needs and against their expectations regarding project costs and timelines.) If appropriate, make changes to project scope based on project performance (reduce the number and/or complexity of deliverables if performance is inadequate)
Docum
An online community could be a chat room, e-mail discussion list, discussion forum or other technologies that allow groups of people to communicate at your web site. When you have a popular online community it will increase your traffic and sales. Below are ten ways to attract people to participate in your online community.1. Tell your visitors that you post a new, free offer every day, week or month in your online community. The free offers should be attractive to your target audience.2. Regularly schedule experts or famous guests to participate in your online community. You could design it to be a virtual class or a question/answer session.3. Post testimonials on your web site from people that have participated in your online community. The testimonials could be about what people have learned or liked while participating in it.4. Don't allow blatant ads in your online communities. If people decide to visit your online community and see a ton of ads they most likely won't be back.5. Post all the benefits of participating in your online community on your web site. You could write it like you're writing an ad
2. The project manager must set the final goal for the project and must motivate his workers to complete the project on time.
3. A project manager must have is technical skills. This relates to financial planning, contract management, and managing creative thinking and problem solving techniques are promoted. 4. No project ever goes 100% as planned, so project managers must learn to adapt to change.
There are many things that can go wrong with project management. These are commonly called barriers. Here are some possible barriers:
1. Poor Communication - Many times a project may fail because the project team does not know exactly what to get done or what's already been done.
2. Disagreement - Project must meet all elements in a contract. Customer and project manager must agree on numerous elements.
3. Failure to comply with standards and regulations.
4. Inclement weather.
5. Union strikes.
6. Personality conflicts.
7. Poor management
8. Poorly defined project goals
Project Management Processes The following processes are derived from the Project Management Institute's - American National Standard, though they are modified for practicality and are highly simplified. Note that the standard includes many more management process activities. Each management process below is described primarily in terms of its overall objectives and core activities.
Integration Management
The objective of integration management is to coordinate the various interrelated processes of a project. To properly manage these activities a project manager needs to do the following:
Develop a project plan
Acquire approval of the plan
Manage the implementation of all the activities described in it
Update the plan as changes occur
Communicate the changes to key project stakeholders
The project plan:
Describes the objectives of the project and how those objectives will be reached
Describes the project deliverables
Contains all of the activities that will occur for the various project Management processes. The plan should have a section which deals with scope, a section that deals with the project schedule, with risks, etc.
The project plan acts as a guide for project team by describing what needs to happen, who needs to do it and when. The project plan also acts as a baseline for measuring project performance. The project manager compares actual work completed against work planned; actual costs against estimated costs, etc.
Scope Management Scope Management ensures that the project includes all the work required, and only the work required, to complete the project successfully. To manage scope a project manager needs to:
Define scope in terms of the project deliverables Respond appropriately to requests for changes by stakeholders (Be aware that changes to scope will almost always have an effect, usually negative, on project costs and/or timelines. This means you need to balance key stakeholder desires & demands against their needs and against their expectations regarding project costs and timelines.) If appropriate, make changes to project scope based on project performance (reduce the number and/or complexity of deliverables if performance is inadequate)
Docum
In the last year or so, social bookmarking’s popularity has skyrocketed. Although social bookmarking has actually been in existence for more than 10 years, only in the last 2 years or so has it’s popularity picked up with many people. This has affected the online entrepreneur greatly. He can’t not use this popular service to get free traffic!Hundreds of ebooks and articles have been published, all of them discussing how to use social bookmarking to get potential leads and customers. No doubt it would be possible to read all of them, but as long as you concentrate on certain key principles, you can use social bookmarking as a useful weapon in your traffic arsenal.A crucial component of social bookmarking is tagging. By tagging your blogs with the keywords you are targeting, users can find your blog easily. These users will also be targeted, as they are interested in the topic you are discussing.Once you have published your blog, you can then ping it using services such pingoat.com to get a flood of traffic quickly. This process has been called ‘blog and ping’ and it’s very easy; it dosen’t take more than 2 minutes to ping
8. Poorly defined project goals
Project Management Processes The following processes are derived from the Project Management Institute's - American National Standard, though they are modified for practicality and are highly simplified. Note that the standard includes many more management process activities. Each management process below is described primarily in terms of its overall objectives and core activities.
Integration Management
The objective of integration management is to coordinate the various interrelated processes of a project. To properly manage these activities a project manager needs to do the following:
Develop a project plan
Acquire approval of the plan
Manage the implementation of all the activities described in it
Update the plan as changes occur
Communicate the changes to key project stakeholders
The project plan:
Describes the objectives of the project and how those objectives will be reached
Describes the project deliverables
Contains all of the activities that will occur for the various project Management processes. The plan should have a section which deals with scope, a section that deals with the project schedule, with risks, etc.
The project plan acts as a guide for project team by describing what needs to happen, who needs to do it and when. The project plan also acts as a baseline for measuring project performance. The project manager compares actual work completed against work planned; actual costs against estimated costs, etc.
Scope Management Scope Management ensures that the project includes all the work required, and only the work required, to complete the project successfully. To manage scope a project manager needs to:
Define scope in terms of the project deliverables Respond appropriately to requests for changes by stakeholders (Be aware that changes to scope will almost always have an effect, usually negative, on project costs and/or timelines. This means you need to balance key stakeholder desires & demands against their needs and against their expectations regarding project costs and timelines.) If appropriate, make changes to project scope based on project performance (reduce the number and/or complexity of deliverables if performance is inadequate)
Docum
Here is an example of the system gone wrong: a mortgage loan that encourages paying off one debt, in order to over extend yourself with another debt. This is what happens with the interest only loan and credit card debt. As a borrowing nation, I believe we’ve reached new depths.It would seem that in this century we’ve managed to take every form of credit possible, extend it to the limit for some of the public, and then look at them as if to say, “You mean you can’t pay?” What do these loan and credit card companies think they’re going to be facing, when the amount of credit and mortgage they’re willing to extend, reaches beyond the acceptable debt to income ratios? Why do they think these were established in the first place?More consumers than ever before owe credit card debt. It’s the way to go, many college campus’ are overrun with representatives from the major credit card companies, eager to extend credit to the young fresh hands of the college student. Are they as ready to work with them when they’ve over extended themselves? No. What about the rest of the spending public? How do they handle their credit card debt?
The project plan acts as a guide for project team by describing what needs to happen, who needs to do it and when. The project plan also acts as a baseline for measuring project performance. The project manager compares actual work completed against work planned; actual costs against estimated costs, etc.
Scope Management Scope Management ensures that the project includes all the work required, and only the work required, to complete the project successfully. To manage scope a project manager needs to:
Define scope in terms of the project deliverables Respond appropriately to requests for changes by stakeholders (Be aware that changes to scope will almost always have an effect, usually negative, on project costs and/or timelines. This means you need to balance key stakeholder desires & demands against their needs and against their expectations regarding project costs and timelines.) If appropriate, make changes to project scope based on project performance (reduce the number and/or complexity of deliverables if performance is inadequate)
Document changes to scope in the project plan Communicate scope changes to key stakeholders via the modified project plan and if necessary secure approval to proceed Controlling project scope is often one of the most difficult tasks for a project manager. A moving target is difficult to hit and improper management of scope will more then likely cause the project to fail (either it will be cancelled, run over budget, be completed late or fail to meet the needs of the stakeholders).
Time & Cost Management
The objective of time & cost management is to ensure that the project is completed on time and within budget.
To do this a project manager needs to:
Develop a project schedule
Plan resources
Estimate costs
Monitor performance
A project schedule lays out the various activities (or tasks) for the project in an activity list. An estimate of how long the activity is expected to take is included for each. The schedule is then used to estimate the resources necessary (i.e., people, materials, etc.) to complete each activity. From there, the cost of each activity is calculated. The resulting documentation is used to monitor project performance by comparing actual performance against the estimates.
Quality Management
The objective of Quality Management is to ensure that the project will satisfy the needs for which it was undertaken.
To do this a project manager needs to:
Develop a quality plan
Carry out quality control activities
A quality plan describes what activities will be performed during the course of a project to ensure that the project will be successful (i.e., meet the needs of the stakeholders).
A quality plan may be formal or informal, highly detailed or a simple checklist depending on the nature and complexity of the project.
Human Resource Management
The objective of the Human Resource Management process is to ensure the most effective use of the people involved with the project.
In order to do this a project manager needs to:
Perform organizational planning
Plan staff
Promote team development
Good organizational planning is a key component of successful projects. A project manager needs to precisely define roles and responsibilities so that there is no confusion over who does what and who decides what.
Staff planning involves planning when and how people will brought onto the project team and when they will be taken off. This is especially important when your team consists of members who do not report directly to the project manager but to some other organizational member.
Communications Management The objective of Communications Management is to promote effective communications between the project team members and key stakeholders. To do this a project manager needs to:
Develop a communications plan A communication plan describes who needs what information, when they need it and how it will be given to them.
Risk Management The objective of the Risk Management process is to ensure that project risks are identified, analyzed and responded to. In order to do this a project manager needs to:
Identify risks Prepare risk mitigation plans Take action as necessary
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