chapter 4 project execution

8/11/2019 Chapter 4 Project Execution

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The Project Management Life Cycle

A Complete Step-by-Step Methodology forInitiating, Planning, Executing and Closing a Project Successfully


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Welcome to the Project Management Life Cycle

We have provided this unique CD to help you gain an appreciation of the phases, activities and tasksincluded within The Project Management Life Cycle. This CD and book reveal the Method123 ProjectManagement Methodology(MPMM) which is used by more than 45,000 people around the world.

To purchase MPMM and the complete set of project management templates upon which this book isbased, please visit www.Method123.com. There you will find all of the software, reports, checklists,forms, templates and case studies required to manage projects successfully.

Whether youre a project manager, business owner, team member, consultant, lecturer or student, youwill greatly enhance your chances of success by adopting MPMM for your projects.

If you have questions regarding the content contained within this book or CD, please e-mail us at:[email protected].

This CD and its contents are copyright protected.

All copyright rights remain with Method123 Ltd.
http://www.method123.com/mailto:[email protected]:[email protected]://www.method123.com/


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Chapter 4

Project Execution


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What is project execution?

- it is the third phase in the project lifecycle;

- it involves creating project deliverables- within this phase the deliverables arebuilt and signed off by the customer.

The project manager monitors andcontrols the project by executing a suiteof management processes.

Which activities are undertaken?

The following diagram depicts theactivities involved in executing a project:


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Step 2: Monitor and control

During the execution of the project, you need to monitorand control the project delivery by performing:

- time management;- cost management;

- quality management;- change management;- risk management;- issue management;- procurement management;- acceptance management;

- communications management.

Monitor &

Control


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Perform time management

Time management is:

The process of recording andquantifying time spent completingtasks on a project.

Time management involves:

- completing and approving timesheets;- recording time spent, within a timesheetregister and project plan;

- identifying and resolving exceptions.


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Perform cost management

Cost management is:

The process by which costs (ieexpenses) incurred on a project areidentified, approved and paid.

Cost management involves:

- completing and approving expense forms;- recording expenditure, within anexpense register and project plan;

- resolving expense issues.


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Perform quality management

Quality management is:

The process by which thequality of the deliverablesand management processesis assured and controlled.

Quality management involves:

- setting quality targets;- measuring deliverable quality;- performing quality assurance;

- performing quality control;- resolving quality issues.


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Perform change management

Change management is:

The process by which changes tothe project scope, deliverables,timescales or resources are approvedand managed.

Change management involves:

- completing change requests;- assessing change feasibility;- approving change requests;

- scheduling change requests;- implementing change requests.


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Perform risk management

Risk management is:

The process of identifying, quantifyingand mitigating risks throughout a

project.

Risk management involves:

- identifying project risks;- completing risk forms;- reviewing and assessing risks;- implementing risk mitigation actions;

- constantly reviewing the risk status.


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Perform issue management

Issue management is:

The process by which issues areformally identified, reviewed andresolved.

Issue management involves:

- identifying project issues;- completing issue forms;- reviewing and assessing issues;- implementing issue resolution actions;

- constantly reviewing the issue status


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Perform procurement management

Procurement management is:

The process ofprocuring productsfrom externalsuppliers.

Procurement managementinvolves:

- issuing purchase orders;- fulfilling purchase orders;

- managing supplier contracts.


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Perform acceptance management

Acceptance management is:

The process by which projectdeliverables are reviewed andaccepted by the customer.

Acceptance management involves:

- identifying the completion of deliverables;- requesting customer acceptance tests;- completing acceptance tests;- accepting final deliverables.


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Perform communications management

Communications management is:

The process of keeping stakeholdersinformed of the progress of the project.

Communications management involves:

- identifying communication required;- creating communications messages;- dispatching communications messages;- reviewing communication effectiveness.


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Step 3: Perform a stage gate

A stage gate is:

A checkpoint at the end of the project phase to ensurethat the project has achieved its stated objectives anddeliverables.

To perform a stage gate, you need to:

- identify the stage-gate review criteria;- undertake the stage-gate review;- complete the stage-gate review form;

- seek approval to proceed.

Perform

Stage-Gate

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