PROJECT BUDGET PLAN103.0 Scope Management System3.1 IntroductionProject Scope Management involves the processes needed in the project ensuring that all the work required is the only one included to complete the project successfully. It focuses on determining and controlling what is or is not included in the project (Newton .R. 2007)3.2 Project ScopeProduct scope may simply refer to features and functions that are to be included in a product or service. Project scope refers to the work that must be done in order to deliver a product with the specified features and functions.3.3 Project Scope Management ProcessesGoal project formulation- it is the most critical stage in project planning entailing setting up of goals.Project deliverable- this issecond stage for utilization of the set goals in considering of time and resources to accomplish the aim.Project schedule-requires the setting up of the exact time for delivering each goal that has been set.Supporting plans- consist of the programs formulation including communication, risk management and human resource.
PROJECT BUDGET PLAN113.4 Project Turnaround time and approvals neededA risk is any form of threat that poses a challenge for the execution of the project as planned. To manage and mitigate risks, you first need to identify them, assess the likelihood of them happening and estimate the impact they might have on your project. This is an integral part of project management through identification and consideration of risks that will result in successful delivery of change. (Knapp, B.W. 2010)Good project management aims to manage the exposure of the project to risk by driving action to improve control of uncertainty and take steps to reduce the chance of failing to achieve the stated objectives. The project manager is responsible for routinely review their exposure to risk and the steps being taken to manage it. The Project Board should be actively engaged in the risk management process to ensure that risks are identified by members of the project team.In small projects, risk management may be an informal process. The Project Manager may simply record the risks and proposed actions as part of the Project Initiation Document and as part of subsequent reports to the Project Board for approval. In medium-size projects a basic Risk Log should be established to aid the recording, management, tracking and communication of risks and mitigating actions. In large projects, it is important to conduct a risk workshop involving key stakeholders during the initiation of the project. The outcome of the meeting is the establishment of the full Risk Log to be maintained throughout the existence of the project. 3.4 Change request forms.Change requests may occur in the form of oral or written, director indirect, externally or internally initiated, and legally mandated or optional.Changes may result in expanding the scopeor may allow shrinking it.
PROJECT BUDGET PLAN123.5 Project Closeout Phase
- Spring '18
- Professor Obura Oluoch