Project Management Flashcards
What is a Project?
A project is the development of a new facility, resource or event from start to finish
Who is responsible for the management of a project?
Client
Define Contract
An agreement, with writen conditons, between two parties to share in the delivery of part of a project
Characteristics of a Project
- Long gestation period
- Sanction of funds
- Overlap between design and construction
- Uncertainty
- Expected profitability from operation phase
What contracts are usually involved in a project?
–Client-Specialists(e.g. Feasibility study, ground investigation) –Client-Designer(s) –Client-Contractor(s) –Client-Project Manager(s) –Contractor-Subcontractor(s) –Contractor-Supplier(s)
What are the main stages of a construction project?
- Apprasial
- Definition
- Design
- Construction
- Comission
- Operation and Maintenance
After what stage is a project sanctioned?
- Definition
When are contracts awarded?
- Begining of the Construction Phase
How does the ability to influence cost change over time?
It decreases
How does construction cost change over time?
It increases
What is the relationship between costs?
Influence decreases as expenditure increases (65% of cost can be commited while only spending 5%)
When do decisions have the most impact on cost?
Before sanction
How is project management different from ordinary management?
- Team only togetehr for one project
- Sequence of project stages
Project Management covers:
Managing:
- Organisation
- Project Scope
- Time
- Budget
- Performance
- HR
- Communications
- H&S
- Procurement
What are the three Maxims for project managers?
- PM identified at start of project and remain in control until end
- PM concentrates on managing work
- All decision should be made to maximise the chance of meeting the clients objectives
