introduction to project planning

time frames and costs of a project

understanding time frames and costs of a project

what is the best time to consider expenses of the project?

Heading 1introduction

It can be understood that what makes a project management unique in a companies is that projects have to be completed at a specified date that means its plans, objectives and goals will eventually come to an end unlike general plans and objectives of companies that plan to exit indefinitely. In this regard costs play a significant role in determining the lenghth of projects and decisions making for projects.

How do we determine Time Frame for Projects?

  • It is important for all parties involved or are affected by the project for example customers of Exclusive Events and project implementers to discuss the intentions impacts amongst other things before a time frame is set
  • In the case of Exclusive Events the customer is the one best suited to set the date of completion or delivery then the project manager can set the time frame of plans to be able to meet the date of implementation.
  • The project team will have to put in place what can must be done, by who and when.
  • All parties must then agree on the Time Frame of the Project. As discussed earlier the cost of the project plays a huge role in the success of a project and we discuss next the importance of cost structure in a business.

Importance of Cost structure in Projects

All the expenses of the project must be projected and considered when planning for a project.

The Project Manager must ask the following questions before taking on a project.

is the project feasible?

Are funds accessible on the date required and planned for?

Can the customer afford to pay for the services I offer?

  • before talking to the client
  • after consulting the client and considered time frame
  • after the completion of the project