Friday, 21 September 2012

HA1 Task 5 - Project Management

Project Management

Project management is the discipline of planning, organizing, securing, managing, leading, and controlling resources to achieve specific goals.

Project Lifecycle

The project lifecycle is a path you follow to take your project from start to finish in the most efficient way. Its like a road map that follows to get from where you are now to your destination, with some very distinct landmarks along the way.

Agile methods in project management

An Agile method in project management is repetitious or frequent method of determining requirements for projects in a highly flexible and interactive manner.

Milestone

A milestone is a special event that recieves special attention. it is often falsely put at the end of a stage to mark the completion of a work package or phase. They are rather to be put before the end of phase so that corrective actions in case or problems can still be met and deliverable can be completed in time.

Management tools

Which is designed to assist a project manager in developing a plan, assigning resources to tasks, tracking progress, managing the budget, and analyzing workloads.

Risks

Identify these associated with setting up a business. This also applies in the case of an existing business that intends to expand, diversify or grow.

Contingencies

Reduces the likelihood of problems occurring, and secondly ensures that should the something happen, the impact it has to the project is minimised.

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