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Unit 6: Project Management.
Research the following topics related to Project Management:
- Gantt Chart
- Project Controls
- Project Planning
Select three of the topics listed and compose three paragraphs describing the topics, one paragraph per selected topic, based on the course material and additional research you conduct online.
Unit 6: Project Management
A Gantt chart is used in project management to give details about a project schedule. Gantt charts enable project managers to easily illustrate project schedule information through itemizing the project activities on one side and the important dates such as the starting and finishing dates on another side and in a calendar format (Taylor, 2008). Gantt charts enable project managers to see the planned and completed work on a project, or the actual progress of the work. In Gantt charts, time is depicted on the horizontal axis while the tasks are illustrated on the vertical axis. The length of each bar corresponds to the duration of the task.
Risk in project management refers to uncertainties that may occur during the period covered by the project, and if they occur may lead to losses. Risk management involves the continuous analysis of the risk factors in the environment during the entire life of a project. Risks in project management impact one or more of the project objectives. In any project, risk management aims at identifying and managing risks effectively. This is because it is impossible to eliminate risks, as they are part of any project. Risk mitigation thus becomes crucial in project management.
A work breakdown structure (WBS) indicates a deliverable-oriented fragmentation of a project or work into smaller components that are easy to manage. In a work breakdown structure, the major tasks are broken down into smaller tasks that can be easily managed. WBS shows all the work that ought to be carried out in a particular project, along with the deliverables of the particular project. When complex projects are broken down using the WBS, it becomes easier for the management to estimate costs of the relatively smaller work structures. Additionally, costs can be estimated fairly quickly and accurately. Supervision of these work segments is also made easier (Norman, Brotherton, & Fried, 2008).
Norman, E. S., Brotherton, S. A., & Fried, R. T. (2008). Work breakdown structures: The foundation for project management excellence. Hoboken, N.J: John Wiley & Sons.
Taylor, J. (2008). Project scheduling and cost control: Planning, monitoring and controlling the baseline. Ft. Lauderdale, Fla: J. Ross Pub.