Budget

Every project has costs, including direct costs, indirect costs, sometimes capital cost, always expense cost. Cost management on a project is generally done partially by the project team and partially by people in other departments. In this chapter we discuss many aspects of project cost management. Cost management encompasses estimation and tracking of costs, as well as cash flow and other economic concepts. We discuss cost control and other aspects that are project related. Also we discuss...

Planning

Activity Definition Activity Sequencing Activity Duration Estimating Figure l Schedule Development The WBS is a breakdown of the project into deliverable-oriented groupings. These groupings eventually turn into action items. The purpose of the WBS is to assess WHAT is to be done (Activity Definition), and WHAT is to be produced. It must include everything that is included in the project, whether it be something for the project - in fact, all the project management must be included,- or...

Introduction to Project Management in Telecommunications

This introductory chapter describes the telecommunications industry value chain in order to look at the types of companies in which telecommunications professionals work. A number of typical projects that might be encountered in telecommunications are described. These projects will be subsequently used to illustrate project management concepts throughout the book, although the illustrations will not be limited to these projects. This chapter also introduces the general concepts of Project...

Shannon even applies in projects

In every communication there is some information which is to be communicated. This information is encoded in some way - the English (or other) language, a diagram, etc. The encoded information is then transmitted through a medium - maybe that's air, if two people are standing talking, or mail when a signed contract is mailed back, or email, when meeting minutes are distributed. The transmitted information travels along a path to the receiver, who will decode it, and hopefully interpret the...

Inclusion of Contingency

What is contingency Contingency is the amount of money, or the amount of time, that the PM includes in the project budget, or the project schedule, to cover for the known unknowns, or risks. This is not an amount that is included due to a specific project activity. It is an amount that is over and above the activity budget. Why would anyone include additional money and time not shown to be needed by the project activities The answer to this is obvious, but because of the practices employed by...