Weekly Questions - Project Management
1. Explain the triple constraint and its importance in project management.
Projects consume vast amounts of resources. Hence, it is imperative to understand how the organisation allocates its scarce resources in order to get the big picture. The figure below displays the relationship between the three primary variables in any project, they are time, scope and cost. The project management institute calls the framework for evaluating these competing demands the triple constraint. The relationship between these variable is such that if one of the three factors changes, at least one other factor is likely to be affected. For example, moving up a project's finish date could result in either increasing costs to hire hire more staff or decreasing the scope to eliminate features or functions. Hence it is imperative for project managers to understand this model and the affects a particular move may have on the outcome of the project.
2. Describe the two primary diagrams most frequently used in project planning
The two primary diagrams used in project planning are called Gantt and PERT charts. A PERT chart is a graphical network model that depicts a projects tasks and the relationships between those tasks. Similarly, a Gantt chart is a simple bar chart that depicts project tasks against a callendar. In a Gantt chart, tasks are listed vertically and the project's time frame is listed horizontally, as depicted below.
3. Identify the three primary areas a project manager must focus on managing to ensure success
A project manager must focus on managing three primary areas to ensure success, they are; (a) people, (b) communications, and (c) change. the first of the three key elements, people, is one of the hardest and most critical tasks a project manager undertakes. resolving conflicts within the team and balancing the needs of the project with the personal and proffessional needs of the team are two of the challenges facing project managers. Secondly, communications, is key to excellent project management. It is extremely helpful if a project manager plans what and how he or she will communicate as a formal part of the project management plan. this is often reffered to as a communications plan. The last element change, whether it comes in the form of crisis, a market shift or a technological development, is challenging for all organisations. Successful organisations and successful people learn to anticipate and react to change which is key within any organisation.
4. Outline 2 reasons why projects fail and two reasons why projects suceed
Projects fail and succeed for many different reasons, possibly the most substantial reason projects fail is due to the recklessness in failing to plan, as they say 'failing to plan is planning to fail' and vice versa. Hence by not formating a project plan based on the SMART criteria chances are the project will fail. secondly by engaging in a project with unrealistic and incoherent goals and ideas the project has set a level of standard much to high, ultimately leading a project failing.
Alternatively, two reasons why projects succeed are; the correct application of the SMART criteria integrated into the prject plan, thus enabling a formal approved document that manages and controls project execution. Secondly, by implementing realistic goals and objectives for the project within the given time frame will hopefully ensure the project accomplishes its set objectives.
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