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
Program Evaluation and Review Technique (PERT)
In the critical path method of scheduling projects, the duration of each activity is usually defined with a reasonable degree of certainty. For some projects, it may be difficult to estimate a reasonable single duration for one more of the activities in the project schedule. The Program Evaluation and Review Technique or PERT method of project scheduling, uses three durations for each activity and the fundamental statistics to determine the probability of a project finishing earlier or later than expected. Although the PERT method is not used extensively in engineering and construction projects, it provides valuable information for assessing the risks of a schedule slippage in a project.… Read the rest
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
What is Project Management?
A project is an endeavor that is undertaken to produce the results that are expected from the requesting party. A project consists of three components namely, scope, cost and schedule. When a project is first assigned to a project manager it is important that all three of these components be clearly defined. Scope represents the work to be accomplished, i.e., the quantity and quality of work. Cost refers to costs, measured in dollars and /or labor-hours of work. Schedule refers to the logical sequencing and timing of the work to be performed. The quality of a project must meet the owner’s satisfaction and is an integral part of project management, which is shown as an equilateral triangle to represent an important principle of project management: a balance is necessary between the scope, budget, and schedule.… Read the rest
International Project Appraisal
International project appraisal also known by a variety of names such as internal company analysis, profiling the organization, capability or resource audit position and strategic advantage analysis, is the process of evaluating a company’s posture relative to its business competition within and outside the country, overall performance and its capability in terms of strengths and weaknesses.
Significance of International Project Appraisal- The organization’s deficiency should also be compared with those of its successful competitors. Such perceptive self appraisal when matched with environmental analysis facilities management to grasp the opportunities and combat the threats inherent in the environment.
- International project appraisal has such a vital significance in international corporate planning.
Social and Commercial Profitability Analysis
Social or National Profitability
Public projects like road, railway, bridge and other transport projects, irrigation, projects, power projects, etc for which socioeconomic considerations play a significant part, rather than mere commercial profitability. Such projects are analysis for their net socioeconomic benefits and the profitability analysis of such projects is known as social or national profitability analysis which is nothing but the socioeconomic cost benefit analysis done at the national level.
Steps involved in determination of social or national profitability:-
- National/Social profitability analysis takes into account the real cost of direct costs and real benefit of direct benefits,. For instance, some of the inputs may be subsidized.