Describe the five major components of a project management...
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Hi Paul - is this enough detail? Took 15 minutes! If not long enough will have to write quicker! ;0)
The creation of the project management plan starts in the Concept phase and finalised at the end of the definition stage of the project lifecycle.
Five major components of the project management plan are:
Scope Management – describes the nature of the project deliverables created to satisfy the project requirements and organisation needs. It helps to describe:
· Scope – what is in and what is out of scope (essential so no slippage of scope)
· Specification – of each of the main products
· Success criteria
· KPI’s – how the projects performance will be measured
Scheduling – high level schedule, which highlights the key deliverables in the form of a milestone schedule. Should also include estimates of cost and resource requirements. Specific contents include:
· Precedence diagrams
· Resource histograms
· Gantt charts
· Project lifecycle
Resource Management – At a minimum each project should have a project sponsor and a project manager!
This section would include:
· Responsibility of assignment matrix – which defines who is responsible for the completion of each product
· Organisation breakdown structure, which shows the organisation hierarchy of the project
· Authority and delegation schedules, which defines the delegation of authority within the project for the approval of documents, expenditures and acceptance
· Role descriptions which defines the overall responsibilities.
Budgeting and Cost Management – is the estimating of costs and the setting of an agreed budget, and the management of actual and forecast costs against that budget. Being able to predict with some certainty the rate at which the project is spending its funds is crucial to knowing whether the project is on track