Why are people spending more work time on projects?
With increased international competition, customers are demanding to have their products and services developed and delivered better, faster, and cheaper. Since project management techniques are designed to manage such factors as scope, quality, cost and schedule, they are ideally suited to this purpose.
There are though a number of tradeoffs which may need to be made when managing a project. These include time but may also involve tradeoffs being made among the scope (size), quality (acceptability of the results), cost, and schedule.
What does bottom-up estimating involve?
Bottom-up estimating is a method of estimating a component of work. The work is decomposed into more detail. An estimate is prepared of what is needed to meet the requirements of each of lower, more detailed pieces of work, and these estimates are then aggregated into a total quantity for the project. For a bottom-up estimate, the WBS needs to be broken down to the most detailed level and the specifications need to be very clear. In the elevator example, bottom-up estimates were created in Kansas City. Details to be estimated included exactly how many buttons the control panel had; exactly what kind of high fixtures were mounted in the ceiling, what kind of finish was requested, and so on. The cost was estimated for each item. For example, for the process of installing the guide rail, first there was a small amount of time, such as one hour, to set up or get everything in place to do this step. Then, it took a certain fraction of an hour of labor to secure each foot of the rail into position. A material charge was incurred for the guide rails themselves and the fasteners that held them in place. The cost of supervision was charged for the foreperson that ensured work was scheduled and performed properly. Finally, over costs were allocated to each of fixed costs.
Bottom-up estimating is the most detailed, time-consuming, and potentially accurate way to estimate. Most projects use this method eventually to serve as a basis for estimating cash flow needs and for controlling the project. One important caution on bottom-up estimating is to ensure that every item is included. If a portion of the project is left out, that portion is underestimated by 100 percent.
Why is a risk register so important in project?
Risk register is the primary output of risk identification. It is a living document with much information regarding risks. A risk register should be maintained, detailing all identified risks, responsibilities, actions required and decisions made. Keep the risk register updated with any results from risk response planning. The purpose of a risk register is to record details of all risks that have been identified, together with their analysis and plans for how those risks are to be treated. The risk register is an important component of the overall risk management framework. It will include ALL risks - not just operational risks, and can be focused either on the enterprise as a whole, or on specific projects where it is used to maintain the register of project risks over the lifetime of the project.
What does the process of outsourcing involve?
Many times if all of the necessary resources cannot be found within the organization, additional resources are hired from outside. The entire project can be outsourced or some activities on it can be outsourced. Outsourcing isn’t a simple way to have a project done. The resource needs, schedule, clear expectations regarding time frames and deliverables must be communicated if outsourcing is to succeed.
Step 1: The measure of outsourcing your company whether it is meaningful. In analyzing the need for your stage of outsourcing, the company's existing business to do a benchmark survey to determine the extent to which they comply with industry standards.
Step 2: Make sure the partners. When you start your operations or a specific part of the project outsourcing, you must be straightforward and honest with your team and discussion. You should also consider the introduction of a third-party outsourcing specialist to help you do choose to carry out negotiations.
Step 3: contract negotiations. Keep in mind three key elements of the contract negotiations: the outset of the contract termination of a good planning; outsourcing partners must also be profitable; negotiations based on cost, the final decision, focus on quality and people. Needless to say, this stage is the drafting of all parties to abide by the unbreakable service agreement.
Step 4: maintain cooperative relations soundly. To make each of the participants are happy to accept outsourcing projects or services and frank, considering the introduction of an independent company to carry out quality assessment. Also, do not forget even if you are outsourcing, you're still its owner. As CIO, you must always process supervision, project sequencing and overall direction to take full responsibility.
The strategic planning process
In the course of normal business activity, a company’s leadership p erforms strategic planning to set direction in line with the organization’s vision, mission, goals and objectives. This strategic planning process generally features:Strategic analysis–analyze strengths and weaknesses within the organization and opportunities and threats external to the organization. Guiding principles–create statements of organizational vision,
