Project Management

You will be learning and about the exciting world of project management. In this online workshop you will learn the fundamentals of planning and executing your projects successfully. 

2. Identify measurable aspects of project management in terms of budget, lifespan and tools required.

What aspects should be considered when managing a project effectively?

Budget

Creating a budget is an essential aspect to ensure that a project runs smoothly. The project could fall apart without a well-planned budget Budgets can be fixed or flexible, depending upon the industry in which the project is implemented and based on the availability of additional income sources. Budgeting provides a number of different advantages that a project manager should consider.

Creating a budget would establish guidelines for the project. This will ensure that the project manager is able to estimate what cost will go to each component of the project. Please see an example of a project budget below:

Estimating timelines

Accurate time estimation is a crucial skill in project management. Without it, you won't know how long your project will take, and you won't be able to get commitment from the people who need to sign it off.

Even more importantly for your career, sponsors often judge whether a project has succeeded or failed depending on whether it has been delivered on time and on budget. To have a chance of being successful as a project manager, you need to be able to negotiate sensible budgets and achievable deadlines.

Follow the following steps:

  1. Understand What's Required
  2. Put the activities in an order
  3. Decide who to involve

  • Allocate tasks
  • Just go with the flow
  • Do everything on your own
  • Panic