Creating an Effective Project Plan

Project management skills have a greater impact to the success of any business. If you have been looking to improve your project planning skills, look no further. In this short course "Creating an effective Project Plan", you will achieve the best skills required to be an effective project planner. The course outlines the best attitudes and right behaviors required to be an effective project planner and gives relevant exercises to grow your skills in project planning. You will have made a right choice is by deciding to take this course....

Module 2: Learning Outcome 1: Analyze Project Requirements and allocate resources and responsibilitiesUntitled section

What is the first step in conducting research for a Project?

The research process and Project Management Cost; Time and Scope analysis

Before implementing any project plans; there are three factors which should be considered and these are Time required to conduct the project; the project Cost and Project Scope.

 

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Figure 1: Project management Time; Cost and Scope Triangle

Project Managers should conduct research to find out how much time they would require to initiate; plan; Design; and implement a project say for example a Company’s closing Function. They can make use of secondary Data or Primary data to make deductive reasoning for facts relevant to the project on hand.  They should also clarify the project scope by finding out more information from the client in question about the closing function.  Starting to work on a wrong project scope is a disastrous mistake. Project re-engineering is very much costly after the initiating and planning phase.

The other factor is costs involved. The aim of research should be to do a Cost Benefit Analysis and recommend reliable and cost effective alternatives to resources management and procurement for the targeted event.  The following infographic summarizes what happens when the project team analyses the three project factors

Image result for project management cost time and quality triangle

Figure 2: Effects of Time; Scope and Cost to a project

Picture Source: https://www.linkedin.com/pulse/time-cost-quality-welcome-tradeoff-scott-moffatt

When a project is done too quickly less time has been spent and low quality will be achieved.  When a project has been done at a low cost, low quality is achieved. The success of a project is measure by how reasonably fast the completion was and how much time and money have been invested in the project.  Therefore it is quite necessary to strike a good balance between time; scope and cost to a particular project.  

  • Gathering information
  • Questionaire
  • monitoring and evaluation
  • simulation