{"id":62231,"date":"2021-05-15T23:10:06","date_gmt":"2021-05-16T03:10:06","guid":{"rendered":"http:\/\/bangla.salearningschool.com\/recent-posts\/initiate-a-project-pmp-project-management\/"},"modified":"2025-05-04T16:35:54","modified_gmt":"2025-05-04T16:35:54","slug":"initiate-a-project-pmp-project-management","status":"publish","type":"post","link":"http:\/\/bangla.sitestree.com\/?p=62231","title":{"rendered":"Initiate a Project #PMP – Project Management"},"content":{"rendered":"

Initiating Projects<\/strong><\/p>\n

How a project starts?<\/strong><\/p>\n

Projects are done for one of the following three reasons
\nBusiness Requirements:<\/strong> Example: The government requires airline companies to implement safety-management systems. A company needs to find out the success of their ecommerce web-site.<\/p>\n

Opportunities:<\/strong>To take advantage of an opportunity like technology breakthrough. Example: many projects may be planned targeting iPhone.<\/p>\n

Problem:<\/strong> To reduce\/eliminate a problem. Airport x faces 2\/3 accidents every year, the airport authority may wish to perform a project to identify causes and develop solutions.<\/p>\n

How a project is selected?<\/strong>
\nProject Selection:<\/strong>
\nA particular project may have different alternative solutions. A company may have multiple project plans and they need to select one of them.
\nBut How?<\/p>\n

1. Scoring Model:<\/strong> Identify some matrix to find which project strategy is better or which project will be more profitable. Assign values for these parameters and select which one provides greater value.<\/p>\n

2. Benefit contribution:<\/strong> Use cost benefit analysis, short term and long term cost benefit analysis.<\/p>\n

3. Economic models:<\/strong><\/p>\n

Benefit Cost Ratio
\nCash Flow
\nInternal Return Rate
\nPresent Value and Net Present Value
\nOpportunity Cost
\nDiscounted Cash Flow
\nReturn on Investment<\/p>\n

Will a project succeed?<\/strong><\/p>\n

There are many mathematical models to justify\/predict the success of a project.<\/p>\n

Do we need to consider project stakeholders?<\/strong><\/p>\n

Yes. Because the project may benefit some people and may cause dis-advantages to some people. Project managers need to manage and convince both of the groups.<\/p>\n

How a project is formalized?<\/strong><\/p>\n

A project charter is developed to present the business needs and the outcome. It is just a document that is reviewed before (or for)project authorization.<\/p>\n

Input to Developing the project Charter<\/strong><\/p>\n

Contract
\nStatement of Work
\nEnterprise environmental factors
\nOrganizational process assets<\/p>\n

Tools for Developing the project Charter<\/strong><\/p>\n

Project Selection Methods
\nProject Management Methodology
\nProject management information systems
\nExpert Judgement<\/p>\n

Output of Developing the project Charter<\/strong><\/p>\n

Project Justification
\nProject description
\nProject requirements
\nAssumptions
\nHigh level schedule and milestones
\nBudget
\nProposed project manager<\/p>\n

Preliminary Project Scope Statement<\/strong><\/p>\n

After a project charter is authorized. A Preliminary Project Scope Statement may need to be developed. It may be discussed with the project stakeholders to facilitate project success.<\/p>\n

Input to Developing Project Scope Statement<\/strong><\/p>\n

Similar to the inputs to Developing the project Charter
\nTools and Techniques<\/strong><\/p>\n

Project Management Methodology
\nProject Management Information System<\/p>\n

Preliminary Project Scope Statement lists:<\/strong><\/p>\n

Objectives
\nThe product
\nRequirements of the product
\nProject boundaries
\nInitial work breakdown structure
\nSchedule
\nTeam
\nRisks
\nCost estimate From: http:\/\/sitestree.com\/?p=4764
Categories:PMP – Project Management
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Post Data:2011-06-24 22:48:04<\/p>\n

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Initiating Projects How a project starts? Projects are done for one of the following three reasons Business Requirements: Example: The government requires airline companies to implement safety-management systems. A company needs to find out the success of their ecommerce web-site. Opportunities:To take advantage of an opportunity like technology breakthrough. Example: many projects may be planned … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[141],"tags":[],"class_list":["post-62231","post","type-post","status-publish","format-standard","hentry","category-project-management","item-wrap"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":62605,"url":"http:\/\/bangla.sitestree.com\/?p=62605","url_meta":{"origin":62231,"position":0},"title":"Part – 1 : Initiating Projects #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 17, 2021","format":false,"excerpt":"Lesson 2: How to Initiate a Project Initiating Projects How a project starts? Projects are done for one of the following three reasons Business Requirements: Example: The government requires airline companies to implement safety-management systems. A company needs to find out the success of their ecommerce web-site. Opportunities:To take advantage\u2026","rel":"","context":"In "FromSitesTree.com"","block_context":{"text":"FromSitesTree.com","link":"http:\/\/bangla.sitestree.com\/?cat=1917"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62565,"url":"http:\/\/bangla.sitestree.com\/?p=62565","url_meta":{"origin":62231,"position":1},"title":"How to monitor project using Microsoft Project #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 17, 2021","format":false,"excerpt":"Monitoring project progress and controlling project progress are very important in timely delivery of projects. These are also essential in keeping project costs within budget. The following articles will help you to understand project monitoring in Microsoft Project Manage costs during the project life cycle Keep project costs within your\u2026","rel":"","context":"In "FromSitesTree.com"","block_context":{"text":"FromSitesTree.com","link":"http:\/\/bangla.sitestree.com\/?cat=1917"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62607,"url":"http:\/\/bangla.sitestree.com\/?p=62607","url_meta":{"origin":62231,"position":2},"title":"How a project is selected? Part -2 : Initiating Projects #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 17, 2021","format":false,"excerpt":"How a project is selected? Project Selection: A particular project may have different alternative solutions. A company may have multiple project plans and they need to select one of them. But How? 1. Scoring Model: Identify some matrix to find which project strategy is better or which project will be\u2026","rel":"","context":"In "FromSitesTree.com"","block_context":{"text":"FromSitesTree.com","link":"http:\/\/bangla.sitestree.com\/?cat=1917"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62229,"url":"http:\/\/bangla.sitestree.com\/?p=62229","url_meta":{"origin":62231,"position":3},"title":"Review: Overview of Project Management #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 15, 2021","format":false,"excerpt":"Overview of Project Management [Source Internet] What is a project? A project is an activity that using plans and processes creates a product, a service, or a result. A product is a physical product like a TV, a service is like the Internet, a website; result [analytical model, proof of\u2026","rel":"","context":"In "FromSitesTree.com"","block_context":{"text":"FromSitesTree.com","link":"http:\/\/bangla.sitestree.com\/?cat=1917"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20659,"url":"http:\/\/bangla.sitestree.com\/?p=20659","url_meta":{"origin":62231,"position":4},"title":"Business Analysis: An Overview","author":"Author-Check- Article-or-Video","date":"February 25, 2021","format":false,"excerpt":"Before 19th century no one systematically studied the effectiveness o f the different approaches of management Business Analysis - is a very recent profession. Due to the radical change in information management and communication businesses needed a new way of analysis - hence, the profession came into play The profession\u2026","rel":"","context":"In "FromSitesTree.com"","block_context":{"text":"FromSitesTree.com","link":"http:\/\/bangla.sitestree.com\/?cat=1917"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62643,"url":"http:\/\/bangla.sitestree.com\/?p=62643","url_meta":{"origin":62231,"position":5},"title":"Project Communication Management. Part – 1: Overview #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 17, 2021","format":false,"excerpt":"Lesson 3: Some Topics on Project Communication Management Some Topics on Project Communication Management For bigger projects communication also needs to be preplanned and executed effectively. Though based on circumstances the plan may be reviewed and changed. Overview Project communication can be very tricky and political Deals with Compiling, Sending,\u2026","rel":"","context":"In "FromSitesTree.com"","block_context":{"text":"FromSitesTree.com","link":"http:\/\/bangla.sitestree.com\/?cat=1917"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=\/wp\/v2\/posts\/62231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62231"}],"version-history":[{"count":1,"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=\/wp\/v2\/posts\/62231\/revisions"}],"predecessor-version":[{"id":78079,"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=\/wp\/v2\/posts\/62231\/revisions\/78079"}],"wp:attachment":[{"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62231"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}