The development of procurement strategy follows the stages in the life of a project. Initially, a preliminary strategy is determined. It is based on a broad definition of objectives and is an essential step in establishing the way forward for the project. It encourages the client to consider strategy early. The preliminary procurement strategy is usually developed with help from the client’s adviser and possibly other consultants. Procurement strategy development has three components: Analysis – assessing and setting the priorities of the project objectives and requirements; Choice – considering possible options, evaluating them and selecting the most appropriate; and Implementation – putting the chosen strategy into effect. During strategy preparation, it may be necessary to seek specialist advice from other Continue reading
Project Management
Essential Skills for Project Managers
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. Project management process skills: Project Management process skills are the knowledge and skills Continue reading
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. Program Evaluation and Review Technique (PERT)  was first developed in Continue reading
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 Scheduling The technique used for project planning and scheduling will vary depending upon the project’s size, complexity, duration, personnel, and owner requirements.  The project manager must choose a scheduling technique that is simple to use and is Continue reading
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 Continue reading
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. Without such am-exercise it will not be possible to formulate economic Continue reading