Be familiar with the tasks a project manager will be involved in when tracking an active project. Include things like scope status, project deliverables, the project' s schedule, variance analysis, scope changes, open issues, status reporting, stepping up activities and sign-off of deliverables, and killing a project.
Understand the elements of overrun analysis. You can be faced with budget, time, material, and schedule overruns.
Be prepared to describe how to manage project delays. Investigate, plan, and communicate.
Be prepared to describe how to manage vendor disagreements. Investigate the source, make a plan for mitigating the disagreement, communicate the issue to stakeholders.
Be prepared to describe how to manage waffling project sponsors. Inquire directly why the sponsor' s enthusiasm is waning and try to get the project back on track. Understand, at a high level, the need for financial variables. You might not need to memorize the equations, but be able to understand why you ' d use a ratio instead of a variance and how the equations are derived.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.