Project Management in Bangladesh Essay
Lecturer: BBA, MBA (Finance & Banking, CU)
School of Business (UITS)
Subject: “Project Management Practices in Bangladesh”
Name of Student: Mahmud
Name of Program: EMBA
ID No: 09335018
Batch No: 22nd
Semester: 3rd Semester (Fall-2009)
Date of Submission: 1st January, 2010
Project Management Practices
Project management is defined by the set of principles, methodologies, procedures and practices used to ensure that "projects" are completed on time, on budget and as required. To qualify as a project, the designated initiative must have specific …show more content…
Project Management Practices - Hints and Tips
Planning: Without a plan, your project will be impossible to control. People who must execute a plan should be involved in its preparation. Use a Project Notebook to fully document a project - proper and accurate documentation is an important aspect of project management best practices. Project plan should be signed off by all stakeholders in a meeting. Use a Change Order form, signed by affected stakeholders, to record significant changes to the project.
Mission statement should be developed for larger projects before goals and objectives are established.
Satisfying the customer of a project must be a primary concern.
Objectives should be written out and placed in project notebook.
Objectives should contain actual calendar deadlines rather than being specified as "within x months"
Estimating Time and Cost
Padding is legitimate to reduce risk, but should be done above the board. An estimate is not a fact. Reduce time available for a person to work on a project to allow for meetings, breaks and other interruptions
Use chart-of-accounts to track labor costs. Record time daily to ensure accuracy.
Gantt chart is most useful to see