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It 205 Characteristics of Project Management

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Project management must deal with five major variables. They are scope, time, cost, quality, and risk. Scope tells what work is to be included or excluded from the project. Everything that is needed to complete the project successfully is project management. The scope should not go beyond what was originally intended. The time variable is the amount of time it takes to complete the project. A schedule is established for each task. That helps give a better accuracy of when the project would be completed. Cost is based on the amount of time it takes to finish the project, then multiply the daily cost of human resources required. A budget must be built to manage expenses. Quality is how the end result satisfies the objectives given by management. Accuracy and timeliness is a major factor of the quality in the end result. Potential problems that threaten success of a project describe risk. The two major culprits are time and cost. If a problem arises that takes time, it affects the cost. That threatens the success of the project. Some risk reducers are to recruit project leaders that have strong technical and administrative experience. Formal planning and tools used for documenting and monitoring the project will be extremely beneficial for large projects. Two charts that are used to document projects are the Gantt chart and PERT chart. The Gantt chart shows each task as a horizontal bar. The length is proportioned to the time it will take to complete the project. The PERT chart lists the activities and what must be completed before the next activity can

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