Project management is the process and activity of planning, organizing, motivating, and controlling resources, procedures and protocols to achieve specific goals in scientific or daily problems. A project is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables),undertaken to meet unique goals and objectives.
A traditional phased approach identifies a sequence of steps to be completed.
What do you understand by critical chain project management?
Critical chain project management (CCPM) is a method of planning and managing project execution designed to deal with uncertainties inherent in managing projects, while taking into consideration limited availability of resources (physical, human skills, as well as management & support capacity) needed to execute projects.
- Analyzing the business needs/requirements in measurable goals.
- Reviewing of the current operations.
- Financial analysis of the costs and benefits including a budget.
- Stakeholder analysis, including users, and support personnel for the project.
- Project charter including costs, tasks, deliverables, and schedule.
- Determining how to plan (e.g. by level of detail or rolling wave);
- Developing the scope statement;
- Selecting the planning team;
- Identifying deliverables and creating the work breakdown structure;
- Identifying the activities needed to complete those deliverables and networking the activities in their logical sequence;
- Estimating the resource requirements for the activities;
- Estimating time and cost for activities;
- Developing the schedule;
- Developing the budget;
- Risk planning;
- Gaining formal approval to begin work.
- Direct and manage project execution
- Quality assurance of deliverables
- Acquire, develop and manage Project team
- Distribute information
- Manage stakeholder expectations
- Conduct procurement
- Test the deliverables against the initial design
- Measuring the ongoing project activities (′where we are′);
- Monitoring the project variables (cost, effort, scope, etc.) against the project management plan and the project performance baseline (where we should be);
- Identify corrective actions to address issues and risks properly (How can we get on track again);
- Influencing the factors that could circumvent integrated change control so only approved changes are implemented.
- In multi-phase projects, the monitoring and control process also provides feedback between project phases, in order to implement corrective or preventive actions to bring the project into compliance with the project management plan.