sure positive cash flow Expected costs of project in tandem with the cash flow projections Able to let PM know where money is spent Expenses and income can be planned in project budgeting (follow S-curve)
h. Developing the quality management plan
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Ensure that desired quality standards have
been delivered at all stages of the project Shows how quality issues for project linked to organizational quality policies Cheaper to deliver right quality first time, else need extra costs and tarnish reputation Top management commitment and employee involvement are important to create comprehensive project quality management plan Quality also linked to environmental and safety issues
i. Planning for human resources
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Some parts of project may be outsourced,
need to coordinate with them Factor in time for external parties, make sure they are available Mediate conflicts in timely manner Need to know productivity rates Not to have too many people at worksite Closely related to communications plan
l. Planning for project procurement
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Provide instructions to how project is
carried out and progress report Poor communication, project failure Who needs the info What info should be given When info needed How info is delivered Include contact details of stakeholders Information should be provided to people surrounding the project too
k. Planning for risk management
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Political, technical, organizational,
environmental risks Takes into account probability of occurrence and impact
Ensure all resources are accounted and
available Consider to purchase in bulk for discounts Procedures must comply with organizational policies and practices Decide when to deliver goods to prevent congestions Linked closely to communications plan
m. Planning for project launch
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Signifies all approvals for work to carry
out have been obtained All plans should be ready Site hoarded up for public safety and have temporary amenities Site layout plan
3. Executing -
j. Developing communications plan
-
Need to have measures to mitigate reduce
or eliminate risk Plan early to prevent risk from turning into crisis Some low risks can be accepted but must be monitored
PM leads, directs, manage project
execution Need to have inspections frequently to ensure quality Need to look at 9 PMBOK areas, all interconnected More detailed plan, more likely execution more success
4. Monitoring and controlling
-
Things may still go wrong after planning
Must take place continuously to make sure things go as planned Need to make corrective actions Need to understand how one area affect another project area
Areas to monitor: -
Project scope must be verified to ensure
only the parts necessary for project are included in execution Make sure relevant stakeholders expectations met If scope change, monitoring and controlling make sure there is effective
scope change control, all stakeholders
informed Schedule control to make sure all parts are completed as planned Both external and internal stakeholders should be managed Timely stakeholder performance reports are evaluated by PM team
5. Closing process
Ensure what was agreed and contracted
have been fulfilled wrt quality and quantity Check with reference to relevant industry standards of practice Payments made to vendors, records kept for specific period of time Feedback forms for improvements