Understanding on Estimating Process, Essay Example

Understanding on estimating process

Project management is an activity which began early 1960, s, driven by businesses that realized the benefits of organizing work around projects, and the need to communicate and co-ordinate work across departments and professions (Brem, 2002). Project management consists of five process groups and control system. The process groups majorly include:

• Initiation
• Planning and design
• Execution
• Monitoring and controlling
• Closing

Initiation

All projects begin with an idea for a product, service or other desirable outcome. It is in this stage that the nature and area of the project is determined. Failure to perform this stage effectively the business needs will not be met. There is need to understand business surrounding and ensuring all required controls are incorporated into the project (Michael, 2007)

Planning and design

In this stage the project is planned to an appropriate way to be able to give concrete detail. The main goal is to ensure that time is planned well. Cost and resources should also be factored in since it enables one to know the work needed and to manage challenges effectively during project completion. The project planning process includes; developing the project duration statement, identifying outcomes, risk planning and communication planning.

Execution

This consists of the processes used to complete the work stated in the project management plan, with the aid of attaining projects goals. It involves incorporating people and resources as well as bringing together and dealing with task (the activities) pertaining the project (Carl, 2004)

Monitoring and controlling

This involves managing and tracking the project, the aim of this is to be able to track potential problems and corrective action taken. Project management plan is used whereby, measuring the ongoing project activities is done, monitoring the project variables (cost, effort) against the project management plan and managing changes using our change control process(Pamela,2005).

Closing

This is important part of the project management. To avoid continuous consumption of resources project should be terminated. Closing a project means completing all activities across all process groups, dividing the project team and documenting the completion of the project with the customer.

References

Kerzner, Harold. (2003) Project Management: A Systems Approach to Planning, Scheduling, and Controlling, Eighth Edition. Indianapolis: John Wiley and Sons.

Brem, A (2002) understanding complex systems, Chicago: University of Chicago Press.

Brown, C. (2009) project management questions; New York: New York Press

Michael W. (2007) short course in project management, Chicago: University of Chicago Press.

Project Management Institute (2004). A Guide to the Project Management Body of Knowledge, Third Edition. Newton Square, PA: Project Management Institute.