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Effectively Executing a Project


Project Management Essentials

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Unit Summary

Monitoring and controlling a project typically include:
  • Measuring project activities
  • Monitoring project variables
  • Identifying corrective actions
  • Influencing the factors

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Build Your Action Plan

Now that you have your project plan in place, you are ready to start executing on the phases of the project towards the expected deliverables. Execution involves proper allocation, co-ordination and management of human, physical, and financial resources.
Throughout execution, as a project manager you will be monitoring and controlling all the processes, deliverables and project performance so that potential problems can be identified in a timely manner and corrective action can be taken.
Monitoring and controlling typically include:
  • Measuring the ongoing project activities (the As-Is - 'where we are');
  • Monitoring the project variables (cost, effort, scope, etc.) against the project management plan and the project performance baseline (the To-Be - where we should be);
  • Identify corrective actions to address issues and risks properly (How can we get on track again);
  • Influencing the factors that could circumvent integrated change control so only approved changes are implemented.
Project managers need to monitor three key elements: Time, Scope and Cost. Scope covers the deliverables at certain agreed quality and within a defined time. Quality should never be sacrificed, but can be adjusted through re-scoping, in agreement with project owner.

A project without a critical path is like a ship without a rudder. D. Meyer