Costs in Project Management – Costs associated with the Projects
April 3, 2025
Types of Costs The following are the costs associated with the projects. Direct costs Any costs that are directly attributable to the work on the project. These can include the salaries paid to the resources, the billing rate of the resources and costs of the software and hardware that are used for building the website…
Communications planning involves identifying the information and communication needs of the stakeholders. This includes determining what needs to be communicated, to whom, when, with what method and how frequently. This is a very proactive approach. The PMBOK guide often suggests work to be done in a more structured way than many project managers previously thought…
There are several models of behaviour that the project manager can draw upon in his or her work. These include Maslow’s need hierarchy theory, Herzberg’s Hygiene theory and McGregor’s theory X and theory Y as applied to project management. All these behavioural models point to the ability of the project manager to motivate the people…
A project in any organization is collaboration across departments to achieve a single well defined objective. The process of planning, organizing and managing resources to achieve the organizational objective is called project management.
Project management is very important in production of goods and services. Idea generation to final production of product or service, each step can be categorized as individual projects. Any project requires a project manager, who leads the project to its logical conclusion. Project manager is responsible for appointing team members with different background but essential in completion of the project.
A project is not normal day to day activity undertaken by organization rather it is specific, non-routine activity of varying time frame and impact viability of the business in the long run. A typical project has following characteristics:
A typical project is divided into following phases. Each phase of the project has its own importance and impact on overall success of the project.
Project management activities are mainly divided into three main categories Planning, Scheduling and Controlling.
There are several techniques utilized for project management. Some of the techniques are as follows, and they are mainly used for project scheduling.
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