Discuss about the Structured Earned Value Project Management.
Scope screed can be stated as a process on how the requirement of the project tends to change over the execution phase of the project. The scope screed is also referred to as requirement creed or even creep of features. It can be explained as ones a project, which has started with a single deliverable become, five as the project was in the execution phase and a project, which has one deliverable changed to five deliverables (Eskerod and Jepsen 2016). It can also be stated as a point where the requirement of the customer has changed initiating a reassessment of the requirement of the project.
The main factor, which can be related to the concept of project creed, is the requirement change from the stakeholder’s point of view or sometimes from disagreement and internal miscommunication. The major result, which is seen as s result of project creed, is a delay in the project, over budget and roadblock. On the other hand, it can be stated that project creed is not a bad thing. It should always be taken into consideration that changes in a project can be very much unenviable. Therefore, it can be stated here that a project creed is a reality which every project manager should be expected during the project execution.
The Project initiation document can be considered one of the most important documentation part, which starts the execution of the project. The three main stages, which are related to the initial planning to create a PID, are as follows:
The requirement for the project: The initial documentation of the project to create a PID majorly include the requirement of the project. The requirement of the customer and gathering of the requirement are few of the important steps in this context. It can be stated that if the requirement of the project is not taken into consideration properly, the project can lead to failure (Martinelli and Milosevic 2016). According to the requirement of the project, the planning is done and how the execution of the project would be done is decided.
Constraints: In the initiation document, there can be different types of constraints, which should be taken into consideration and stated in the documentation. The main constraints, which are majorly taken into consideration, are the project budget and the time, which would be involved in the project. They are considered as primary factors, which decide whether a project is successful, or not. On the other hand there are other factors even which state weather the project is successful or not.
The technique of the project: In this phase, the technique of the project and how the working of the project would be done is taken into consideration. There are different techniques, which can be taken into consideration for the proper execution of the project. Few of the techniques are waterfall model or the agile method. It can be stated that it directly depends on the project which technique can be implemented.
Critical success factor and key performance indicators can be stated to be very much co-related to each other. The simplest way to understand them and to provide a contrast between them by understands that Critical success factor is the cause of the factor of success whereas key performance indicator is the direct effect of the action (Martinelli and Milosevic 2016). If the identification of the Critical success factor is made properly, and the execution is in the process, and the Key performance indicators are also done properly, there are chances of reaching or getting close to the key performance indicators.
Taking into consideration a project management scenario, there are different working parts, which are involved in the process. When considering both the aspect of critical success factor and key performance indicators the following things are majorly taken into consideration.
In the process of the project, management there can be different types of uncertainty, which can be faced. It is the role of the project manager to look into the aspect. The project manager has the overall control of the project and plans the project accordingly. There are always plans that are predefined regarding uncertainty. If plan A fails, there would be a plan B that would be implemented (Fleming and Koppelman 2016). The focus point would be that there would not be any type of factor of risk, which would be affecting the internal as well as the external working of the organization. Some of the examples of uncertainty are in the sector of customers who tend to change the requirement during the phase of execution or the phase of closure. In most of the time, the budget of the project is set to some exceeding point so that there is scope related to uncertainty events so that it does the hamper the overall budget of the project. There always should be a backup plan which should be initiated during the planning phase which is effective if there is any sort of uncertainty attached to the working of the project.
The factor of complexity prevails in most of the project management cases. It can be stated that not all projects have the same order to complexity attached to it; each of the projects may have their level of complexity (Kerzner and Kerzner 2017). There can be different dimensions, which can be related to the complexity of the project. Few of the dimensions are stated below:
The three constraint of the project management, which is identified by the iron triangle mainly, include the aspect of budget/cost, scope and time/schedule of the project.
The triangle comes into play directly when something directly affects one of the legs of the triangle. If this scenario occurs, the adjustment should be made on one or more elements to accommodate the change (Kerzner and Kerzner 2017). For example, if a client suddenly shortens the period, then the project would be likely to need more resources or perhaps a reduction of scope. It can be stated here that the factors are very much interrelated to each other. If one of the factors were altered, it would be directly affecting the other factors as well.
References
Boyle, G., 2017. Design project management. Routledge.
Eskerod, P. and Jepsen, A.L., 2016. Project stakeholder management. Routledge.
Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management. Project Management Institute.
Harrison, F. and Lock, D., 2017. Advanced project management: a structured approach. Routledge.
Heagney, J., 2016. Fundamentals of project management. Amacom.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Kerzner, H., 2018. Project management best practices: Achieving global excellence. John Wiley & Sons.
Lock, D., 2017. The essentials of project management. Routledge.
Martinelli, R.J. and Milosevic, D.Z., 2016. Project management toolbox: tools and techniques for the practicing project manager. John Wiley & Sons.
Meredith, J.R., Mantel, S.J., Shafer, S.M. and Sutton, M.M., 2014. Project management in practice. Wiley.
Sears, S.K., Sears, G.A., Clough, R.H., Rounds, J.L. and Segner, R.O., 2015. Construction project management. John Wiley & Sons.
Turner, J.R., 2014. Handbook of project-based management(Vol. 92). New York, NY: McGraw-hill.
Verzuh, E., 2015. The fast forward MBA in project management. John Wiley & Sons.
Walker, A., 2015. Project management in construction. John Wiley & Sons.
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