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4. On Time & On Budget Delivery. Project management is important because it allows for a realistic project plan that sets proper expectations around what can be delivered, by when, and for how much.
Time management has also been identified as one of the core functions identified in project management. [ 32 ] Attention management relates to the management of cognitive resources, and in particular, the time that humans allocate their mind (and organize the minds of their employees) to conduct some activities.
Key project management responsibilities include creating clear and attainable project objectives, building the project requirements, and managing the triple constraint (now including more constraints and calling it competing constraints) for projects, which is cost, time, quality and scope for the first three but about three additional ones in ...
The project schedule is a calendar that links the tasks to be done with the resources that will do them. It is the core of the project plan used to show the organization how the work will be done, commit people to the project, determine resource needs, and used as a kind of checklist to make sure that every task necessary is performed.
Quality and time are fixed but flexibility allowed in scope. Delivering the most important features first leads to an earlier return on investment than the waterfall model. [7] A lack of detailed specifications typically is the result of a lack of time, or the lack of knowledge of the desired end result (solution).
The project has two critical paths: activities B and C, or A, D, and F – giving a minimum project time of 7 months with fast tracking. Activity E is sub-critical, and has a float of 1 month. The critical path method ( CPM ), or critical path analysis ( CPA ), is an algorithm for scheduling a set of project activities. [ 1 ]
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