The art of managing project stakeholders

Why stakeholder mapping is a critical for your project sucess? In my previous post on this topic I talked about how being able to understand organizational structures can help us manage project stakeholders more effectively and get one step closer to successful project delivery. To continue: let’s find out why proper stakeholder identification is a critical success factor…

The importance of good work breakdown structure

“Work Breakdown Structure (WBS) is a deliverable-oriented grouping of work.” Project Management Body ofKnowledge (PMBOK), Version 6. When starting a project from ground zero, the planner (very often the project manager himself) may grope around in the dark for a while without knowing where to start. A Work Breakdown Structure (WBS) is the answer. One starts by envisaging the…

Project cost management

Project cost management comprises of planning, estimating, budgeting and controlling of project costs. Plan cost management  Cost management plan Estimate costs  Expert judgment Analogous estimation Parametric estimation Bottom up estimation Three point estimation Determine budget  Cost aggregation Historical information Funding limit renciliation Cost baseline Project funding requirements Control costs  To complete performance index (TCPI)

Scope management

ll projects start with a vague idea or scope. For example, ‘I need a new house’, and no one has any idea about the functionality of the house at this point. Should it be an apartment, or an independent house, or a house in a gated community, how many rooms, swimming pool, car park, security,…

Control schedule

Control schedule  Status updates – Updating the status of the project based on the project execution details. Change management comprises of; Setting up of a change control board (CCB) for the project, which will have representation of the relevant stakeholders (Project manager, Quality manager, Engineering manager, Supplier representatives, Architects etc). Raising change requests Evaluation of the…