By Trevor L. Young
A part of a chain of pocket publications aimed toward allowing the reader to benefit a brand new ability in exactly half-hour, this article is filled with rules on easy methods to plan a venture from notion to perform.
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Extra resources for 30 Minutes to Plan a Project (30 Minutes)
Using this principle, you can estimate the greater need for contingency funds after you have reviewed the project risks in Step 6. Then you can finalize the operating budget and request approval. 45 STEP 5 OPTIMIZE TO MEET CUSTOMER NEEDS Now that you have analysed your initial schedule for resource needs you must check the results to ensure you can meet the customer’s expectations. This is yet another reiterative process starting with asking some fundamental questions? 1. Is the initial definition still valid – has anything changed?
Have you been given an initial budget? It is only as the Work Breakdown Structure is fully developed that you can derive the real costs of the planned work. Taking each key stage in turn, assess the costs of all the tasks and sum these to provide a key stage cost. With all the key stages costed you can plot a simple cumulative cost for the project against time. This can be used for cost control and deriving a cash flow forecast if required. The costs derived in this way are often regarded as the operating budget because it is based on real data.
You can do little to avoid them sometimes but do alert your team they must in future keep a clear focus on the project work and the durations agreed in the plan. Keep a record of all estimates of the project activities and update any changes that occur. Note the actual durations for future reference. 30 Prepare the Project Schedule How long will the project take? When you are satisfied you have acceptable estimates, write the duration for each key stage on the post-it notes. Now you can find the total project time.
30 Minutes to Plan a Project (30 Minutes) by Trevor L. Young