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    VIVA

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    SakshiShine
    The document discusses various aspects of project management including time management, risk management, communication management, cost management, and quality management. For time management, it describes the importance of effective planning, setting goals and deadlines, prioritizing activities, and allocating the right time to the right tasks. For risk management, it discusses analyzing, addressing, and mitigating risks. For communication management, it outlines planning communications, managing communications, and monitoring communications. For cost management, it discusses estimating costs, determining budgets, and controlling costs. For quality management, it highlights tools like control charts and the importance of continuous improvement and management responsibility.

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    VIVA

    Uploaded by

    SakshiShine
    59 views16 pages
    The document discusses various aspects of project management including time management, risk management, communication management, cost management, and quality management. For time management, it describes the importance of effective planning, setting goals and deadlines, prioritizing activities, and allocating the right time to the right tasks. For risk management, it discusses analyzing, addressing, and mitigating risks. For communication management, it outlines planning communications, managing communications, and monitoring communications. For cost management, it discusses estimating costs, determining budgets, and controlling costs. For quality management, it highlights tools like control charts and the importance of continuous improvement and management responsibility.

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    VIVA

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    The document discusses various aspects of project management including time management, risk management, communication management, cost management, and quality management. For time management, it describes the importance of effective planning, setting goals and deadlines, prioritizing activities, and allocating the right time to the right tasks. For risk management, it discusses analyzing, addressing, and mitigating risks. For communication management, it outlines planning communications, managing communications, and monitoring communications. For cost management, it discusses estimating costs, determining budgets, and controlling costs. For quality management, it highlights tools like control charts and the importance of continuous improvement and management responsibility.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    59 views16 pages

    VIVA

    Uploaded by

    SakshiShine
    The document discusses various aspects of project management including time management, risk management, communication management, cost management, and quality management. For time management, it describes the importance of effective planning, setting goals and deadlines, prioritizing activities, and allocating the right time to the right tasks. For risk management, it discusses analyzing, addressing, and mitigating risks. For communication management, it outlines planning communications, managing communications, and monitoring communications. For cost management, it discusses estimating costs, determining budgets, and controlling costs. For quality management, it highlights tools like control charts and the importance of continuous improvement and management responsibility.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 16

    Presentation for VIVA

    Shivin Kumrawat
    Time Management
    • Time Management refers to managing time effectively so that the right time is allocated to the
    right activity.
    • Effective time management allows individuals to assign specific time slots to activities as per their
    importance.
    • Time Management refers to making the best use of time as time is always limited.

    Why Time Management is Important


    • Every organization works on deadlines.
    • Time Management helps an individual to prioritize things
    • Effective Time Management makes you a favourite amongst your superiors, clients as well as
    fellow workers.
    • Managing time well helps an employee to plan his career path effectively.
    • Time Management makes you an organized individual.
    • Time Management makes an individual disciplined and punctual.
    Time Management includes:
    • Effective Planning
    • Setting goals and objectives
    • Setting deadlines
    • Delegation of responsibilities
    • Prioritizing activities as per their importance
    • Spending the right time on the right activity

    Time Management Skills


    • Organized – Avoid keeping stacks of file and heaps of paper at your workstation.
    • Don’t misuse time –Do not kill time by loitering or gossiping around. Concentrate on your work
    and finish assignments on time.
    • Be Focussed - One needs to be focused for effective time management.
    • Understand the difference between urgent and important work.
    Benefits of Time Management
    • Time Management makes an individual punctual and disciplined.
    • One becomes more organized as a result of effective Time Management.
    • Effective Time Management boosts an individual’s morale and makes him confident.
    • Individuals who stick to a time plan are the ones who realize their goals and objectives within the
    shortest possible time span.
    • Better Time Management helps in better planning and eventually better forecasting.
    • Time Management enables an individual to prioritize tasks and activities at workplace
    • Time Management helps an individual to adopt a planned approach in life.
    Risk Management
    Risk management is a process that allows individual risk events and overall risk
    to be understood and managed proactively, optimising success by minimising
    threats and maximising opportunities. which involves analyzing, addressing,
    proportional and the complexity provided in particular risk. It has inherent roles
    and the risks are covered within the levels of an organization.

    Why is risk management important


    Risk management is important because it tells businesses about the threats in
    their operating environment and allows them to preemptively mitigate risks. In
    the absence of risk management, businesses would face heavy losses because
    they would be blindsided by risks.
    Risk Management Process?
    • Step 1: Identify the Risk -The first step is to identify the risks that the business is exposed to in its
    operating environment.

    • Step 2: Analyze the risk-Once a risk has been identified it needs to be analyzed. The scope of the
    risk must be determined.

    • Step 3: Evaluate or Rank the Risk-Risks need to be ranked and prioritized. A risk that may cause
    some inconvenience is rated lowly, risks that can result in catastrophic loss are rated the highest.

    • Step 4: Treat the Risk- Every risk needs to be eliminated or contained as much as possible.

    • Step 5: Monitor and Review the risk- Not all risks can be eliminated – some risks are always
    present.
    Benefits of Risk Management Process
    • Benefits of risk identification
    • Benefits of risk assessment
    • Treatment of risks
    • Minimization of risks
    • Awareness about the risks
    • Successful business strategies
    • Saving cost and time
    • New opportunities
    • Protecting resources
    Communication Management
    • Excellent communication is a critical component of project success. . It consists of three
    processes that help make sure the right messages are sent, received, and understood by the
    right people.
    Communication management Process:
    • Plan communications management - The first step is to plan how you will manage
    communications on your project and across all of your stakeholders.
    • Manage communications- Once the plan has been created and approved, it’s the project
    manager’s job to ensure it’s managed. This means that the plan needs to be reviewed and
    updated on a regular basis to reflect any changes to the project or its stakeholders. The
    project manager also has to manage the execution of the communications management plan
    • Monitor communications- This process used to be called ‘control communications, This
    includes Confirming communications went out as planned & messages were understood.
    Also Confirming any relevant feedback was provided to the appropriate project members.
    Communications management plan.
    • Collection and analysis of data.
    • Creation of messages for communication.
    • Transmission or distribution of communications.
    • Storage of any communication reports, files or documents.
    • Retrieval of any stored communications.
    • Disposal of any old communications upon project closure or a set date.
    How to be successful at project communication
    Management

    • Strong active listening skills


    • Proficient writing skills
    • Excellent speaking ability
    • Asking questions and probing for more information
    • Setting and managing expectations
    • Motivating people to become and stay engaged
    • Conflict resolution skills
    • The ability to summarize and recap what you’ve heard
    Project Cost Management
    Project cost management is to manage cost required to procure all the
    needed products, services and resources to deliver the project
    successfully.

    Why it is important
    Project success is decided by how well the project cost has been handled
    in the project. Hence it’s very important to come up with the correct cost
    estimation needed for the project.
    Cost Management Process
    • Plan Cost Management - Plan Cost Management describes how the project costs will be
    planned, structured, and controlled.
    • Estimate Costs- This process represents the tasks involved in determining the monetary
    resources needed to complete the project activities. Most of the time it involves Bottom
    up estimating, that is, determining the monetary resources for each project task and rolling it up
    into an overall project estimate.
    • Determine Budget- This process refers to the aggregation of individual project task budgets into
    an overall project budget. It refers to the production of a time-phased project cost baseline which
    can provide a graduated ceiling for project funding limits throughout the project.
    • Control Costs- Keeping project costs under control requires the application of earned
    value management.
    Benefits of Cost management
    • Lowers Expenses- is that it lowers the overall business or company expenses. which can be used
    to spend it on other resources or debts which then contributes to the overall company’s growth.
    • Enhanced Efficiency- it helps you figure out those tasks which are running smoothly and staying
    within the allocated budget and prevents you from those which are constantly breaking and
    exceeding the allocated budgets.

    • Better Records- it helps you in financial accounting planning and setting budgets when you place
    limits on the money expenditure.
    • Thrift- Thrift means saving wasting money and using it somewhere else for benefit. When the
    company defines cost control management procedures it is very clearly indicating to the
    employees that it is seeking to save the leaking money which can be used for other activities or
    purposes in another way.
    Project Quality Management
    Project quality management is a knowledge area in project management concerned with the quality
    of a project. It addresses the project's resulting product and the project management of the project
    itself. The goal of project quality management is to identify, assess, control, and achieve product
    quality using specific processes and activities.
    Quality Control – Tools and Techniques

    • Control Charts – They illustrate the performance of a project over time. They
    map the results of inspections against a chart. Outer limits are set by
    customer requirements and within them are upper and lower control limits.
    • Cost of Quality- Cost of Quality, as defined above, comprises Cost of
    Conformance and Cost of Non-conformance. Cost of Non-conformance is
    usually higher than Cost of Conformance and lays more adverse effect on a
    project
    • Cost of Conformance- It is the money spent during the project to prevent the
    failures.
    • Cost of Non-conformance- Cost of Non-conformance is the cost that is
    incurred during or after the project as a result of failures.
    importance of the Quality Management
    • Customer Satisfaction – Understanding, evaluating, defining and managing expectations
    so that the customer requirements are met.
    • Prevention over Inspection – One of the fundamental tenets of modern quality
    management states that quality is planned, designed and built in – not inspected in.
    • Continuous Improvement – The PDCA (Plan-Do-Check-) Cycle is the basis for quality
    improvement. It is one of the basic tenets that form a basis for Initiation, Planning,
    Execution, Monitoring and Controlling, and Closing; thereby enabling continuous
    improvement
    • Management Responsibility –quality importance comes from the top. Though, the
    participation of all the project team members leads to the success The management
    needs to provide appropriate resources to perform quality-related activities.

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