Project Management for Architectural Design Firms Flashcards
involves utilizing
procedures, techniques, and expertise to
achieve project goals, requiring diverse talents
such as strong people management, business
acumen, and technical skills.
Project management
manage building
design, construction, safety, environmental
compliance, and contract writing, requiring
creativity, organization, leadership,
communication, analytical skills, and CAD
technology for successful project execution
Architectural project managers
RESPONSIBILITIES OF A PROJECT MANAGER
Planning
Hire, fire, and supervise
Set goals
On time
Stay on budget
Keep your boss and client on the loop
The dispute manager
Draft contracts
Manage risks
IMPORTANCE OF PROJECT MANAGEMENT
Ensures Smooth Execution of Projects
Helps Meet Project Goals
Improves Communication and Collaboration
ensures timely completion,
budget compliance, quality standards, safety, and
collaboration among stakeholders. It involves
selecting policies, scheduling tasks, and allocating
resources within budget and timeframe
Project planning
involves selecting suitable
policies and techniques, establishing investment
readiness, and creating a detailed plan with
objectives, scope, costing, hazards, and timeline
Project planning
involves estimating resources,
materials, and time for each stage, identifying
start and completion dates, assigning tasks within
budget, and directing the team to achieve project
success.
PROJECT SCHEDULING
PROJECT SCHEDULING TOOLS
Task-list
Work breakdown structure (WBS)
Gantt Chart
Simulation
Critical path method (CPM)
Program evaluation and review technique
Fast-tracking
Crashing
graphical representation of project steps,
aiding in scope division, cost assessment,
resource planning, and scheduling
procedures.
Work breakdown structure (WBS)
a basic project schedule that
outlines activities, responsibilities, and
deadlines, suitable for minor projects but not
ideal for complex ones
Task-list
Horizontal bar charts visually display project
schedules, tracking activities over time, but
may be problematic for extensive projects
with interdependencies
Gantt Chart
a versatile tool for creating
schedules, estimating project duration, and
adjusting timelines as the project progresses
due to risks and uncertainties
Simulation
a
strategic planning tool for complex projects,
identifying the longest series of tasks and
determining the earliest completion date.
Critical path method (CPM)
predicts job times using
weighted averages, enhancing timetables for
complex tasks like research or IT, and displays
project timelines, milestones, and
communication using Microsoft Excel.
Program evaluation and review technique (PERT)
Altering the project timeline to
accommodate additional tasks can expedite
the project but also increases the risk of
errors and subpar quality.
Fast-tracking
The task requires exceeding the anticipated
resources or adding team members,
potentially increasing the budget
Crashing
a project management
strategy that involves altering activities,
schedules, or allocation to reduce resource
requirements, but it may lead to schedule and
expense overruns.
Resource Leveling
A project manager knows that
one of the most important
duties is to estimate the costs
and budgets for projects.
Without accurate estimates, it is
nearly impossible to ensure that
a project stays on track and
within budget
PROJECT BUDGETING
AND ESTIMATING
the process of predicting the
cost of a project and then
allocating funds accordingly.
This aspect of the planning
process allows project
managers to identify potential
risks, allocate resources, and
plan for contingencies.
Cost estimation and budgeting
There are several key elements that must be considered when
estimating the cost of a project. Accurate cost estimates for
each of these elements are essential for developing an accurate
overall estimate for the project. These include:
Materials
Labor
Overhead
Equipment
Permits
Fees
Taxes
Contingencies
Refers to how cash flows in and out
of an organization in regard to a
specific existing or potential
project
Cash Flow Projections
includes
revenue and costs for such a
project. Experts sometimes call
________ relevant cash
flow, which refers to when a
company is still deciding whether a
project is worth its time.
project cash flow
includes cost
estimates for a project, as
well as a schedule of when
you will incur those costs.
This forecast also displays
the project’s revenue and a
schedule of when you will
receive that revenue
Project Cash Flow
Forecast
allows you to look
closely at the cash inflows and outflows
associated with an existing or potential
project.
Project Cash Flow Analysis
Details to consider when performing a project
cash flow analysis
Sunk Costs
Initial Investments
Relevant Cash Flows
These are costs that your company incurs
whether you take on a project or not.
Sunk Costs
These investments refer to the cash
outlays for the equipment and other assets that you need to
execute a project.
Initial Investments
These are the revenue and costs that
occur due to a project
Relevant Cash Flows
Relevant Cash Flows
Incremental Cash Flows
Terminal Cash Flow
Opportunity Costs
needs to ensure that the project
deliverables are stored securely throughout the project’s
life cycle
Project Team
Designated spokesperson for the
project. Responsible for ensuring the required deliverables
are in the designated location during the project’s life.
Project Manager
Designated spokesperson for
testing questions raised during the face-to-face interview.
Testing Coordinator
Designated
spokespersons for other questions to be raised during the
face-to-face interview
Key members of the Project Team
Project Team
Project Manager
Testing Coordinator
Key members of the Project Team