Complete the summary below. Use NO MORE THAN THREE WORDS for each answer. PROJECT MANAGENT Last week’s definition of pro

LECTURER:
    I’d like to begin today with a quick review of last week’s lecture. We saw the definition of project management as something which has a clear beginning and a clear completion date with goals, a budget and a schedule. We saw its presence in the private and public sectors in many different industries. You’ll also remember that we outlined the life cycle as it were, of a project and looked at the first of a four-stage cycle-establishing the limits of the project.
    Today, we’re going to talk broadly about the second stage of project management-developing a plan for the project. Next week we’ll focus on the implementation of the project and then, the final stage-its evaluation.
    Let’s get started on today’s topic, though-planning the project. The success of a project will depend on the skills and care which you put in at this initial planning stage. Planning is not only necessary in terms of budget or cost, it’s also crucial that you consider the time-frame of a project and the standards which you’ll be expected to provide. These three elements are, of course, integrated. Project-planning is best conducted as a team - you might have to take responsibility for handing over the final plan but without a team behind you, you’ll find it almost impossible to plan effectively.
    We’ll discuss budgetary planning firstly because that is, of course, what you are most likely to be evaluated on by your own manager. Before drawing up a budget, you’ll need to understand the time-frame involved to carry out the work and the standard of delivery at which the labour and materials are to be supplied. Now, this is arguably the most difficult to plan for. You’ll never plan completely accurately for a project in terms of money but you will become better at planning realistically. And it is this part of the planning process that you will do last.
    The best way to plan the cost of a project is to consider all the factors involved and how those factors relate to time and standard of delivery. Write these down on a spreadsheet format and begin the task of costing and estimating. The company that you’re employed by will always have their own systems in place for doing this. They will also indicate the kind of profit they are looking for-usually in percentage terms.
    The second stage of planning is the allocation of time to a project and for this, you’ll have to canvass others for help. Only by asking the advice and opinions of those with expertise in the field, will you be able to establish the size of each unit of work to be completed and the order in which those units of work should be carried out. Remember that some units of work may be done simultaneously but many cannot. In your tutorials this week, you’ll be introduced to the Gant Chart-that’s G-A-N-T. This method of planning project activities has been very successful in the field of project management. The complete set of tasks involved in a project are identified and then planned in relation to each other. You’ll soon discover that organizing and prioritizing activities is quite an art-form.
    The third part of your planning as I said, will affect your money and time considerations and that is the standard of delivery that the project demands. These standards will be outlined in the tender documents if they’ve been your guide or the masterplan from which you’re working. Always make sure that you’ve got ALL of the project-related documents that are available. For every unit of work that is to be completed, you’ll have to write specifications-they are detailed descriptions outlining specific standards of quality in materials and labour. If these specifications are not carefully written and then complied with, the project is unlikely to be successful. These specifications will be referred to many times once the project is underway.
    You will also have to deal with a Quality Assurance Manager at this stage who will advise you on the standards which need to be met. Quality management has become a valued component in successful project management companies.
    I’ve provided you with an outline of the planning process for project management but you’ll be looking at these three elements in more depth in your tutorials this week.