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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]
A project plan, is a series of ... plan are the two most important documents for describing a project during the initiation and planning phases. PRINCE2 defines a ...
3. Better Productivity. Project management is important because it ensures there’s a proper plan that outlines a clear focus and objectives to allow the team to execute on strategic goals.
WBS is a hierarchical and incremental decomposition of the project into deliverables (from major ones such as phases to the smallest ones, sometimes known as work packages). It is a tree structure , which shows a subdivision of effort required to achieve an objective, for example, a program , project , and contract . [ 6 ]
Initiating: processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase. Planning: Those processes required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives that the project was undertaken ...
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]
In multi-phase projects, the monitoring and control process also provides feedback between project phases, to implement corrective or preventive actions to bring the project into compliance with the project management plan. Project maintenance is an ongoing process, and it includes: [38] Continuing support of end-users; Correction of errors
Project cycle management (PCM) is the process of planning, organizing, coordinating, and controlling a project effectively and efficiently throughout its phases, from planning through execution then completion and review to achieve pre-defined objectives or satisfying the project stakeholder by producing the right deliverable at the right time, cost and quality.
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