Project Cost Management
According to PMBOK (2008) Project Cost Management includes
the processes involved in estimating, budgeting, and controlling costs so that
the project can be completed within the approved budget.
Estimate
Costs— the process of developing an approximation of the
monetary resources needed to complete project activities.
Determine
Budget— the process of aggregating the estimated costs of
individual activities or work packages to establish an authorized cost baseline
Control
Costs— the process of monitoring the status of the
project to update the project budget and managing changes to the cost baseline.
Below
demonstrated structure will identify further more about inputs, tools & techniques
& outputs of above mentioned criteria’s.
Figure 1: Project cost management overview
Project quality management
Activity
based costing (ABC), PERT, Expert judgment & historical cost fall under the
category of non parametric modeling while COCOMO ii, EPA & OPA fall under parametric
modeling.
Project quality management has 3 phases which are quality planning, quality assurance, & quality control.
According
to PMBOK (2008) project quality management helps to determine quality policies,
objectives, and responsibilities so that the project will satisfy the needs for
which it was undertaken.
Plan
Quality— the process of identifying quality requirements
and/or standards for the project and product, and documenting how the project
will demonstrate compliance
Perform
Quality Assurance— the process of auditing the quality
requirements and the results from quality control measurements to ensure
appropriate quality standards and operational definitions are used.
Perform
Quality Control— the process of monitoring and
recording results of executing the quality activities to assess performance and
recommend necessary changes.
Figure 2: Project Quality management overview
Project Human Resource Management
As stated in PMBOK (2008) Project
Human Resource Management includes the processes that organize, manage, and
lead the project team. The project team is comprised of the people with
assigned roles and responsibilities for completing the project.
Develop
Human Resource Plan— the process of identifying and
documenting project roles, responsibilities, and required skills, reporting
relationships, and creating a staffing management plan.
9.2
Acquire Project Team— the process of confirming human
resource availability and obtaining the team necessary to complete project
assignments.
9.3
Develop Project Team— the process of improving the
competencies, team interaction, and the overall team environment to enhance
project performance.
9.4
Manage Project Team— the process of tracking team member
performance, providing feedback, resolving issues, and managing changes to
optimize project performance
Figure 3: Project
Human Resource Management overview
Project chater gives the formal authority to carry on the project. It is basically a legal document. In the environmental scanning when preparing the project chater project manager look into
- PEST
- Value Chain
- SWOT
- Stakeholder analysis
As data collection methods of project chater
- Interviews
- Observations
- Document requirements
- Seminars
are used.
Sponsors are the entities who gives resources.
Phases of project initiation
- Goal setting - What do we need
- Environmental Scanning - Why do they need it
- Project appraisal - What are the alternatives that can be used. Cash flows, Payback period, NPV, Feasibility study are used as tools.
- Documentation - Combined document including facts of why we are doing the project, when will be giving this, & the details of developers.
