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Intro to Project Mangement: Time, Resources, Money & Scope

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This is an introduction to Project Management. This document will introduce the concept of managing time, money, and resources in relation to a project scope. This will explore how changes in resources, time, money, are interrelated and can ultimately effect the project scope. Examples are given of these minor changes that can significantly effect these four major categories of a project.

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Most literature on project management speaks of the need to manage and balance three elements: people, time, and money. However, the fourth element is the most important and it is the first and last task for a successful project manager. First and foremost you have to manage the project scope. The project scope is the definition of what the project is supposed to accomplish and the budget (of time and money) that has been created to achieve these objectives.

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Successful Project Managers must simultaneously manage the four basic elements of a project: resources, time, money, and most importantly, scope. All these elements are interrelated. Each must be managed effectively. All must be managed together if the project, and the project manager, is to be a success.
? Resources
People, equipment, material
? Time
Task durations, dependencies, critical path
? Money
Costs, contingencies, profit
? Scope
Project size, goals, requirements
Most literature on project management speaks of the need to manage and balance three elements: people, time, and money. However, the fourth element is the most important and it is the first and last task for a successful ...

Purchase this Solution
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