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Time Planning Tools And Techniques In Project Management

The key feature of this activity is recognizing that identifying candidate projects is something that an organization should do on a regular basis, not just once each year. Further, when examining projects for approval, it is vital to also examine the resource capacities and capabilities available for assignment. It is futile to assign a major new project requiring extensive discovery of business requirements if no business analysts are available. Project Identification proceeds Project Initiation.

This process should be reviewed on a regular basis by Resource Managers within the organization and can be used for staff career counciling.Select Project: Based on the information provided by the ranking process, the Core Process Owners of the business will authorize a specific project for initiation. This project should now be removed as a Candidate Project.

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Before we begin explaining the importance of project management, it is important to understand what project management is and what it entails. Project management involves the use of various principles, procedures and policies that are established to guide a project from its conception stage all the way along until its completion.

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Knowledge: The more projects a business undertakes, the more knowledge it will acquire over time. This will serve as an asset to any business and project management helps to capture and retain knowledge.Creates an opportunity for learning: Sometimes, projects work out perfectly and other times, project fail miserably. Either way, much can be learned from previous experience and past mistakes can be avoided in the future. Project management ensures that these lessons are learned and applied in the future.

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Document Business Case - Evaluate all Candidate Project Information that has been provided by the requesting organization or that has been gathered by a technical analyst. If additional information is needed, issue an Information Request to the requester. Format this information into a Business Case. Assign the Candidate Project a new Project Code.

Rank Candidate Projects: When requested, all Candidate Projects that are in the repository should be objectively ranked in order of significance. The ranking criteria should include Target due dates, Impact on the total business, Impact on the technology architecture, Impact on other applications, Project size, cost and duration and Project risk.

There are numerous advantages to project management software. Project management has come a long way from a pencil, sheet of paper and a methodology to what is available today in our technologically advancing world.

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