Instruction: Carefully read the following statement, then arranged it being 1 as the first step to the last step to come up with a step-by-step process of project planning. Consider your priorities when performing the activity. NOTE: From the activity below, answer this question: Why did you arrange the following steps this way? Explain. (brief reflection) •Start planning the project. Use whatever project planning tool that works for you. •Create a list of tasks that need to be carried out for each identified deliverable. •Create a strong, shared vision; it’s hard to gather the momentum needed to get the project off the ground. •Create a list of tasks that need to be carried out for each identified deliverable. •Set achievable goals. •Identify as many risks to your project as possible and be prepared if something bad happens. •Have a clear understanding of your role in project implementation is an important pillar of a successful project. •Calculate the approximate direct and indirect costs/expenditures of the project. •Determine the project’s stakeholders, particularly those affected indirectly. •Update plan as the project makes progress, and continually measure progress against the plan. •Find out what resources are available for the project, now and in the future. •Keep your project plan attached to other project-related documents such as the proposal, time logs, work reports, meeting notes, or anything else that might come in handy. •Create a clear communication of the project goals and the effort required to meet them.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Instruction: Carefully read the following statement, then arranged it being 1 as the first step to the last step to come up with a step-by-step process of project planning. Consider your priorities when performing the activity.
NOTE: From the activity below, answer this question: Why did you arrange the following steps this way? Explain. (brief reflection)
•Start planning the project. Use whatever project planning tool that works for you.
•Create a list of tasks that need to be carried out for each identified deliverable.
•Create a strong, shared vision; it’s hard to gather the momentum needed to get the project off the ground.
•Create a list of tasks that need to be carried out for each identified deliverable.
•Set achievable goals.
•Identify as many risks to your project as possible and be prepared if something bad happens.
•Have a clear understanding of your role in project implementation is an important pillar of a successful project.
•Calculate the approximate direct and indirect costs/expenditures of the project.
•Determine the project’s stakeholders, particularly those affected indirectly.
•Update plan as the project makes progress, and continually measure progress against the plan.
•Find out what resources are available for the project, now and in the future.
•Keep your project plan attached to other project-related documents such as the proposal, time logs, work reports, meeting notes, or anything else that might come in handy.
•Create a clear communication of the project goals and the effort required to meet them.
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