Planning Consideration For The HR Project

Planning Consideration

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Planning Consideration

Q1. The activity of any organization is to carry out operations and projects. One of the most important tasks of a project manager is to keep the changes and scope of the project under strict control in order to achieve a successful, satisfied customer.

Schedules : Time tracking is an effective way to record and monitor the time spent on a particular task or activity in a project. Schedules can then be used for payroll, billing, or process optimization. The planning of the scope of the Project, according to the PMBoK, is the response that the Project Manager gives to the expectations of the actors interested in the Project. It is the determination of the Project's work and should only include the work necessary to complete the Project. (A Guide to the Project Management Body of Knowledge ,2013)

What is the planning of the scope of the Project?

It is a baseline of the scope and make the concrete definition of the result, product and / or service object of the Project. It include the determination of all the work, production and management necessary for completion with success of the work. It also validate that a correct delivery and acceptance of all the work included in the scope has been made to measure the progress of the scope and assess the performance. It also predict its completion and properly manage the changes in the scope.

project costs can be recorded and evaluated. Project costs comprise labor costs, additional costs and travel expenses. Depending on the filter setting, the project costs can be displayed on customers, projects, sub-projects or processes. Evaluation results on the project costs can be exported for further use. The allocation of project costs to the individual projects can also be displayed graphically in the form of bar charts or pie charts. With this powerful software, you can plan, book and manage budget bills, labor costs, travel expenses and similar costs.

Basically, costing is one of the most important phases of a project. It is used to calculate in advance any expenses that may be incurred and to provide a framework for orientation to the own project team as well as to give the customer a negotiable up-front price. A detailed cost planning is very important, especially in the early stages of the planning process, as these have the best opportunity to influence and control the project costs. (Meredith and Mantel, 2014)

The impact on costs during early project phases is very high. The increase in knowledge regarding costs is increasing in the course of the project. Furthermore, the cost trend continues to increase. Project feasibility analysis is a useful tool to describe the project, the goals of its sponsors, its sensitivity to various risks associated with construction, commissioning and operational risks. In addition, it includes an analysis of alternative financing options and opportunities to enhance the quality of credit. It includes an assessment of capital requirements, debt servicing opportunities, forecasting revenues from the level of planned sales, analysis of production costs, and a market forecast. As a rule, when considering alternative scenarios, fluctuations of such variables as fuel prices, interest bank rates, exchange rates, etc. are taken into account.

Q2. The most important skill associated with project resourcing include;

Selecting the right people

It is important to select right person according to project demands otherwise the expected success will be difficult. When starting a project, planning and choosing the right people for the project team are paramount to the success of the project. However, they are only profitable up to a certain point, and alone do not guarantee the success of the project. The team spirit should be maintained and from time to time ensure that everyone has the same goal for the project. Stakeholders should be in contact throughout the project and ensure their acceptance in case of change.

Ensuring that each person has the capacity needed (or develop that capacity)

The project manager is responsible for ensuring that the end result of the project is the right one, remains on budget and is ready on time. The project manager should lead his team so that these goals are realized. The most important qualities of a hire person are communication skills and the ability to make decisions. Communication can be listening, talking, reading, writing and seeing. The selected person must constantly communicate the project's events to both stakeholders and team members. He should understand how to communicate to different people, given their urgency, personality, and importance of the message. Sometimes it may be better not to communicate the message completely. The project manager himself must always be aware of the project situation, the next steps and their priorities, and communicate accordingly.

Assembling an effective team

The project manager is responsible for ensuring that the end result of the project is the right one, remains on budget and is ready on time. The project manager should lead his team so that these goals are realized. The most important qualities of a good project manager are communication skills and the ability to make decisions. Communication can be listening, talking, reading, writing and seeing. The project manager must constantly communicate the project's events to both stakeholders and team members. He should understand how to communicate to different people, given their urgency, personality, and importance of the message. Sometimes it may be better not to communicate the message completely. The project manager himself must always be aware of the project situation, the next steps and their priorities, and communicate accordingly.

Deciding where each person will work

For each project, an appropriate team is assembled. Team members may not know each other well, and the project organization does not have established practices for meetings or communications, for example. However, they are important to the success of a project, so they should work right from the start of the project. However, a skillful project manager can turn this into a lack of practice. In fact, he is able to choose the right methods for the project and team.

Q3. Assessment and planning of the cost in the project is intended to ensure the implementation of the project within the established budget. Consider the following main stages:

Determining resources - calculating the resource requirements needed for the successful implementation of CIS.

Cost estimation - determining the cost of labor and resources needed to carry out project work.

Development of the project budget - distribution of estimated costs in accordance with the timing of implementation.

Project cost management is primarily associated with the cost of resources needed to complete the project.

Cost management in the project should also consider and take into account all additional costs in the project: the costs of individual orders, remuneration, etc.

After scheduling the implementation work, one can build schedules of resource requirements needed to complete the project. Volumetric and temporal characteristics of resource consumption are used to determine the cost of the project. To determine the full cost of the project, it is necessary to consider all the resources used in it:

software (development environments, system licenses)

labor resources (salaries, expenses for finding personnel.)

cash for additional costs.

office expenses

subcontracting expenses

risk reserves

Accordingly, it is necessary to draw up a number of project budgets. The project budget is equivalent to the estimated current costs of the organizational unit. The main difference is that it covers the entire project from start to finish, while the budget of the organizational unit is compiled annually. For more effective control, the project budget should be divided into two parts: direct budget and indirect cost budget. (Meredith and Mantel, 2014)

Q4.. The keywords in the definition are:

probability;

event;

subject;

decision;

losses.

Project risks are classified according to the following criteria: types, stages of the project, sources of occurrence, nature of occurrence over time, level of financial losses, the possibility of foresight, the possibility of insurance.

By type, the following risks are distinguished.

1. The risk of design. This risk is generated by the imperfection of the preparation of the business plan and design work on the proposed investment object, associated with a lack of information on the external investment environment, incorrect assessment of the parameters of the internal investment potential, the use of outdated equipment and technology that affect the indicators of its forthcoming profitability.

2. Construction risk. This risk is generated by the selection of insufficiently qualified contractors, the use of outdated construction technologies and materials, as well as other reasons that cause a significant excess of the stipulated deadlines for construction and installation work on the investment project.

3. Marketing risk. It is associated with the possibility of a significant reduction in the volume of sales of products envisaged by the investment project, the level of prices and other factors leading to a decrease in the volume of operating income and profit at the stage of operation of the project.

4. The risk of financing the project. This type of risk is associated with insufficient total investment resources necessary for the implementation of the project; untimely receipt of investment resources from individual sources; increase in the weighted average cost of capital involved in investing; imperfection of the structure of sources of formation of borrowed investment resources.

References

Meredith, J. R. and Mantel, S. J. (2014). Project Management: A Managerial Approach (9th ed.),

Wiley, ISBN-13: 9781118947029.

A Guide to the Project Management Body of Knowledge (2013) (5th ed.) Project Management

Institute.