Explore BrainMass
Share

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

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

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.

© BrainMass Inc. brainmass.com October 17, 2018, 3:28 am ad1c9bdddf
https://brainmass.com/business/the-time-value-of-money/intro-to-project-mangement-time-resources-money-scope-423438

Attachments

Solution Preview

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 ...

Solution Summary

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.

$2.19
Similar Posting

Management

Project manager has several skill requirements. What are some of them? How do these skills, especially the conflict resolution skills, aid a project manager in successfully completing a project? What do you think the outcome of a project would be if the project manager was lacking in any of these skills? Why do you think so?

Project success is defined very differently today than it was twenty years ago. What are some of the driving factors behind this? What role executives have played in this new definition for project success? Which one of the items in today's definition would be the most difficult to achieve? Is this a fair definition of project success? Do project managers would have difficulty achieving this definition of success? Why or why not

View Full Posting Details