Outline of Project Management - Project Management Procedures

Project Management Procedures

• Aggregate planning – is an operational activity which does an aggregate plan for the production process, in advance of 2 to 18 months, to give an idea to management as to what quantity of materials and other resources are to be procured and when, so that the total cost of operations of the organization is kept to the minimum over that period.
• Allocation – is the assignment of available resources in an economic way.
• Budgeting
  • Budget – generally refers to a list of all planned expenses and revenues.
  • Budgeted cost of work performed – (BCWP) measures the budgeted cost of work that has actually been performed, rather than the cost of work scheduled.
  • Budgeted cost of work scheduled – (BCWS) the approved budget that has been allocated to complete a scheduled task (or Work Breakdown Structure (WBS) component) during a specific time period.
• Constructability – is a project management technique to review the construction processes from start to finish during pre-construction phrase. It will identify obstacles before a project is actually built to reduce or prevent error, delays, and cost overrun.
• Cost engineering – is the area of engineering practice where engineering judgment and experience are used in the application of scientific principles and techniques to problems of cost estimating, cost control, business planning and management science, profitability analysis, project management, and planning and scheduling."
• Critical path method – (CPM) is a mathematically based modeling technique for scheduling a set of project activities, used in project management.
• Earned value management – (EVM) is a project management technique for measuring project progress in an objective manner, with a combination of measuring scope, schedule, and cost in a single integrated system.
  • Earned schedule – (ES) is an extension to earned value management (EVM), which renames two traditional measures, to indicate clearly they are in units of currency or quantity, not time.
• Estimation in project management is the processes of making accurate estimates using the appropriate techniques.
• Graphical Evaluation and Review Technique (GERT) – is a network analysis technique that allows probabilistic treatment of both network logic and activity duration estimated.
• HERMES is a Project Management Method developed by the Swiss Government, based on the German V-Modell. The first domain of application was software projects.
• Kickoff meeting – is the first meeting with the project team and the client of the project.
• Linear scheduling method – (LSM) is a graphical scheduling method focusing on continuous resource utilization in repetitive activities. It is believed that it originally adopted the idea of Line-Of-Balance method.
• Program Management – is the process of managing multiple ongoing inter-dependent projects. An example would be that of designing, manufacturing and providing support infrastructure for an automobile manufacturer.
• Project accounting – Is the practice of creating financial reports specifically designed to track the financial progress of projects, which can then be used by managers to aid project management.
• Project Cost Management A method of managing a project in real-time from the estimating stage to project control; through the use of technology cost, schedule and productivity is monitored.
• Project planning – is part of project management, which relates to the use of schedules such as Gantt charts to plan and subsequently report progress within the project environment.
• Task is part of a set of actions which accomplish a job, problem or assignment.