Introduction Flashcards
What is the purpose of project management?
To predict, plan, organise and control activities and resources so projects are completed successfully despite all the risks, difficulties and budget constraints
What is project management?
Projection of ideas and activities into new endeavours whilst mitigating elements of risk and uncertainty
What is a type 1 project?
Civil Engineering and Construction
Define a type 1 project?
- Work conducted on site exposed to elements and usually remote from contractor head office
- Open to public gaze
- Usually requires massive capital investment
- Rigorous management of progress, finance and quality
- Can be very hazardous, health and safety aspects demand special attention
- May require joint venture for larger projects
What is a type 2 project?
Manufacturing
Define a type 2 project?
- Projects result in a piece of mechanical or electronic equipment or specially designed hardware (e.g. ship, aircraft etc)
- Conducted in lab, factory, hangar or other home based environment where company exercises on the spot management
What is a type 3 project?
IT Projects and projects associated with management change
Define a type 3 project?
- Examples include relocating HQ, introducing new IT, launch marketing campaign, feasibility or other study, organisational restructure
- May be associated or depend on type 1 and type 2
What is a type 4 project?
Projects for pure scientific research
Define a type 4 project?
- Can consume vast amounts of money and yield no practical or economic results
- Generally high risk
- Difficult to define however some form of control must be attempted (i.e. budgets set) and have regular reviews
What are some aviation project types and categorise them>
Type 1 and 2, new runway, terminal or airport
Type 3, new navifation system
What is the project lifecycle?
Initial concept/need Feasibility study Business plan Risk assessment Public enquiry Authorisation Organisation Planning Design Procurement Fulfilment Test/commission Handover Structural life Disposal
What are the 3 objectives of a project manager?
Completion within budget
Project delivered on time
Project finished according to project specifications
What is the effects of delays on direct costs?
Price rise on material and increase in wages/salaries
What are indirect costs (overhead)
Management, administration, accommodation, facilities,
Fees incurred day to day
What is the effect of delays on costing in general?
Big effect on financing, may need to overdraft or loan
Contracts may have penalty clause for each day/week contractor fails to meet delivery obligation
Who are the principal stakeholders?
Customer/client
Contractors
Investors
What are some steps to limit costing risks?
Stage gating Avoidance of fixed price contracts Provisional cost items Feasibility study Checklists
What is stage gating?
Step by step approach
Releasing resources in controlled amounts so risks are kept within defined boundaries.
If the project is looking bad, plug can be pulled and further funds denied
What is a feasibility study?
Involves technical experts to helps define project
Points project in the right direction
