Project Management Diploma: Activity Duration Estimating

Posted 16 November 2012 / No comments

Learn about the Activity Duration Estimating in the Project Management Diploma qualification. The answer to the question ―How long will it take? depends on the accuracy of the estimates, the consistency of the work, and other variables within the project. The best a project manager can do is create honest estimates based on the information he’s been

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Certificate IV Project Management: Activity Duration Estimating (Inputs)

Posted 14 November 2012 / 2 comments

Learn about Activity Duration Estimating (Inputs) in the Certificate IV Project Management qualification. Enterprise Environmental Factors. One or more of the organisations involved in the project may maintain duration estimating databases and other historical reference data. This type of reference information is also available commercially. These databases tend to be especially useful when activity durations

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Diploma in Project Management: Project Management Plan

Posted 12 November 2012 / No comments

Learn about the Project Management Plan in the Diploma in Project Management qualification. The schedule management plan is a component part of the project management plan that is used in Activity Resource Estimating. Activity Resource Estimating: Tools and Techniques Expert Judgement. Expert judgment is often required to assess the resource-related inputs to this process. Any group or

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Introduction to Effective Project Management – Cert IV PM

Posted 1 November 2012 / No comments

 LMIT’s Diploma in Project Management is Now Endorsed by AIPM – Get Your Diploma of PM and You’ll Also Receive a Certificate from AIPM The Cert IV in project management teaches you that effective project management requires adequate time for planning—and based on the results of that planning, adequate time for the implementation of those

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Cert IV Project Management – Project Activity Definitions

Posted 25 September 2012 / No comments

According to the Certificate IV in Project Management, projects are temporary undertakings to create a unique product or service which require a whole series of project activities to be completed. The idea of time is inherent to the very definition of a project in that all projects are temporary. Even though they may seem to

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How to Develop a Project Management Plan

Posted 18 January 2012 / No comments

Developing a Project Management Plan Training Online Introduction Project Management Plan development requires an iterative process of progressive elaboration. The project manager will revise and update the plan as research and planning reveal more information and as the project develops. For example, an initial Project Management Plan may describe a broad overview of what the

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How to Develop Project Charter

Posted 5 January 2012 / No comments

What is a Project Charter? The project charter is the document that formally authorises a project. The project charter provides the project manager with the authority to apply organisational resources to project activities. A project manager is identified and assigned as early in the project as is feasible. The project manager should always be assigned

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What is a Project Management Information System (PMIS)?

Posted 28 December 2011 / No comments

Project Management Information Systems (PMIS) The PMIS is a tool that can help the project team to plan, schedule, monitor and report on a project. A PMIS is typically a computer-driven system (though it can be paper-based) to aid a project manager in the development of the project. A PMIS is a tool for, not

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What is Project Management Methodology?

Posted 20 December 2011 / No comments

Project Management Methodology Explained A project plan methodology is a structured approach to developing the project plan. Methodologies can be simple or complex and based on the project type, the requirements of the performing organisation, or multiple inputs. Organisations can use hard or soft tools to lead the project plan methodology. In its choice of

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How to Calculate the Project Payback Period

Posted 13 December 2011 / No comments

Calculating the Project Payback Period How long does it take the project to pay back the costs of the project? For example, the XYZ Project will cost the organisation $500,000 to create over five years.  The expected cash inflow (income) on the project deliverable, however, is $40,000 per quarter. From here it’s simple math: 500,000

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