To be a good project manager, it is important to possess several skills in order to manage the project in the organization. Project managers need to have a wide variety of skills which can help them to do the best in project management. All the skills that possess by the project manager is determinant of the success of the project in project management. It is to fulfill the responsibilities as the project manager. There are several major knowledge and skill categories for project manager. Skills requirement of the project manager divided into four categories. Below are the four major knowledge and skills categories of the project manager.… Read the rest
Project Management Concepts
Project Planning and Scheduling
Project planning is the process of identifying all the activities necessary to successfully complete the project. Project scheduling is the process of determining the sequential order of the planned activities, assigning realistic duration’s to each activity, and determining the start and finish dates for each activity. Thus, project planning is a prerequisite to project scheduling because there is no way to determine the sequence or start and finish dates of activities until they are identified.
Techniques for Project Planning and SchedulingThe technique used for project planning and scheduling will vary depending upon the project’s size, complexity, duration, personnel, and owner requirements. … Read the rest
Project Financing – Financing Options For Projects
Project advisory services falls under one of the core branches of corporate advisory services. It deals with the decision of financing a project based on its strength of assuring the future cash inflows. In other words Project financing deals with financing a project, which can in turn generate return for its stakeholders and help in repaying the interest and loan on the proposed project. The assets used for undertaking that project are used as collateral for financing that project.
The following constitute the differences between project financing and the other types.
- In project financing, the lenders look at the strength of the project to perform and generate sufficient returns to serve the interest and loan on that project.
History and Development of Project Management
A project is a temporary endeavor to create a unique product, service or result. The temporary nature of projects creates a defining beginning and end. Project management is the application of knowledge, skills and tools and techniques to project activities to meet the project requirement. Project is accomplished through appropriate application and integration of different process groups.
A project fills an essential need in society. Indeed, projects are the major mode in which change is accomplished. It is the mode in which corporate strategy is implemented, business change is addressed, productive teams and their necessary competencies are dealt with, quality of deliverables, and tracking pre-established metrics for management’s decision making, as well as closing out a project and creating lessons learned are performed.… Read the rest