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Project planning is inherently uncertain as it must be done before the project is actually started. Therefore, the duration of the tasks is often estimated through a weighted average of optimistic, normal, and pessimistic cases. The critical chain method adds "buffers" in the planning to anticipate potential delays in project execution. [3]
The project execution is the process of completing the tasks defined in the project plan. The purpose of project monitoring and control is to keep the team and management up to date on the project's progress. If the project deviates from the plan, then the project manager can take action to correct the problem.
PRINCE2 defines a project plan as: "...a statement of how and when a project's objectives are to be achieved, by showing the major products, milestones, activities and resources required on the project." The project manager creates the project management plan following input from the project team and key project stakeholders. The plan should be ...
Project plan – is a formal, approved document used to guide both project execution and project control. The primary uses of the project plan are to document planning assumptions and decisions, facilitate communication among stakeholders, and document approved scope, cost, and schedule baselines. A project plan may be summary or detailed. [10]
S.M.A.R.T. (or SMART) is an acronym used as a mnemonic device to establish criteria for effective goal-setting and objective development. This framework is commonly applied in various fields, including project management, employee performance management, and personal development.
Project management software are computer programs that help plan, organize, and manage resources.. Depending on the sophistication of the software, it can manage estimation and planning, scheduling, cost control, budget management, resource allocation, collaboration software, communication, decision-making, quality management, time management and documentation or administration systems.
Project managers can have the responsibility of the planning, execution, and closing of any project, typically relating to construction industry, architecture, computer networking, telecommunications or software development. Project network is a graph (flow chart) depicting the sequence in which a project's terminal elements are to be completed ...
Product-based planning is a structured approach to project management, based on identifying all of the products (project deliverables) that contribute to achieving the project objectives. As such, it defines a successful project as output-oriented rather than activity- or task-oriented. [ 35 ]