Project planning lays out the foundation of a project, including: Scope Objectives Budget Schedule Enterprises often have information technology project tools used for the scheduling parts of a plan that typically include Gantt charts and PERT charts.
Businesses can’t operate without risk. Economic, technological, environmental, and competitive factors introduce obstacles that companies must not only manage but overcome. According to PwC’s Global Risk Survey, organizations that embrace strategic risk management are 5 times more likely to deliver stakeholder confidence and better business outcomes and 2 times more likely to expect faster revenue growth. By mitigating risks and communicating areas of opportunities or potential blockers within the project, the project benefits in: 1. Protection from financial losses 2. Ensures compliance with regulations 3. Improve planning 4. Demonstrates leadership 5. Preserve brand image 6. Improve employee productivity 7. Improve the quality of decision-making
Resource management enhances efficiency and manages project-critical resources such as employees, equipment, and tools. With a focus on resource management, all the project elements needed to complete a project are broken down, paying particular attention to how the resources are allocated, prioritized, and used so the project stays within budget and on schedule.
Common PM tools used to drive project success are Jira, Confluence, Trello, Smartsheet, and Microsoft Office Suite programs
Effective stakeholder management is integral to successful projects. Projects do not exist in isolation. Even if there is a defined brief, budget, program, and scope of work the project is still subject to external influences. Effective stakeholder management is essential for your organization to secure necessary project permits, handle complaints and grievances, gain stakeholder support, and stay updated with legislative developments that could impact your organization’s financial performance. Some key importance involved in the SEP are: 1. Areas of influence 2. Regulations and requirements 3. Methodology 4. Identifying the appropriate project stakeholders 5. Stakeholder engagement activities 6. Communication plan 7. Timelines 8. Resources and responsibilities 9. Grievance management 10. Monitoring and reporting
