Lecture notes Project design and planning (CDED022) Project Management for Success, ISBN: 9780796201379
85 views 0 purchase
Course
Project design and planning (CDED022)
Institution
University Of Limpopo (UL)
Book
Project Management for Success
This document entails some definitions which help you to understand or get an idea of what is covered in project management. It includes definitions of the project lifecycle, the cost-benefit analysis, project scope management, and project communication management
It includes all of the processes that must be completed before a project can be
approved and planning may begin. The objective is to define your project at a high
level and connect it to the problem you are trying to address
The design or development phase
In this phase a project scope is developed which explains or entails the main goal of
the project, IT explains tasks to be completed, all the costs of budget to be used and
deadlines of all the tasks. This stage also entails the responsibilities of each team
member. It uses recommendations set by the feasibility study conducted in the first
stage to develop the product and write down detailed schedules and plans for making
or implementing the product.
Execution or implementation phase
This is the stage where the development plan of the product is put into action
meaning implemented. This simply means that production team the schedules and
procedures that were prepared During the previous phases. As all the plans are
implemented, regular checkups on the progress off the project needs to be executed
in order to give shareholders regular update and status reports.
Termination or Commission or closing phase
Just before everything can be concluded to closing the project, the production team
need to make sure all the goals are achieved. You need to compare the progress
report with all the project scopes in order to determine what went wrong during the
project and also to determine whether they are any finish touches needed In also
during the closure meeting you need to include the stakeholders of the project in the
decision-making. The project goes are inspected or examined and if all it well the
project documents (Search as keys of a building or a house) can be handed over to
the business the project is conducted for. Also, no matter the outcome of the project
it debrief with the team need to be conducted in order Share all the lessons learned.
2. Stakeholder Analysis
What is the stakeholder analysis?
, Stakeholder- It is someone who has an interest in the operations over project and can either
influence or be influenced by the operations of the project such as project employees or
community members of where the project is operated
Stakeholder analysis- it refers to the different techniques or tools used to identify and
evaluate what the stakeholders need in the expectations of out of the project
Stakeholder involvement- it's a way in which an organization includes people who may be
influenced or affected by its actions or who can influence how a project can be implemented
in the decision-making
3. Cost Benefit Analysis
Cost benefit analysis definition
It is a method for estimating the cost and benefits of projects in order to determine
the most cost effective or low-cost option
It's a method of calculating the benefit of a choice or action minus the cost of that
decision or action
The purpose of CBA
It helps us in identifying the problems that arise in the project and determines the
solutions
In case of solving problem, the CBA is used to evaluate the available solutions and
how to choose the best cost-effective option to make sure the benefits exceed the
costs
Financial perspective
Financial analysis
It is used to check the inflows and outflows of cash in the organization by accounting
techniques such as cash flow statements balance sheets and income statements
The purpose of financial analysis
It is carried out to help in making financial decisions
The correct and historical information is used to predict the future performance of the
organization
Assessment of financial impact
It checks if losses or profits are made in the organization
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller benerlyngwanamonama. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.13. You're not tied to anything after your purchase.
