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Assignment Module 3 Project Management Overview

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26 views4 pages

Assignment Module 3 Project Management Overview

Uploaded by

Ashish Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ASSIGNMENT

Course Name: Hospital Planning And Hospital Project


Management
Module 3: Project Management Overview

1. Cost Management

Cost management involves planning, estimating, budgeting, financing, funding,


and controlling costs so that a project can be completed within the approved
budget. In healthcare projects, cost management ensures that all expenses
related to construction, equipment, personnel, and operational requirements are
planned and tracked efficiently.

 Cost Estimation: Determining the projected financial requirements for a


project, including materials, labor, and overheads.

 Budgeting: Setting a budget based on the cost estimates to serve as a


financial guideline throughout the project.

 Cost Control: Monitoring and adjusting the budget as needed to manage


changes and unexpected expenses. Tools like variance analysis are used to
compare actual costs to the budget.

 Reporting: Regular financial reporting ensures stakeholders have an


accurate view of the project's financial status, aiding decision-making.

Effective cost management is essential to avoid cost overruns, ensure resource


allocation efficiency, and deliver the project within financial constraints.

2. The Steps of the Time Management Process


Time management in project planning involves scheduling tasks and activities
effectively to meet deadlines and optimize productivity. Key steps in the time
management process include:

 Defining Activities: Identifying specific tasks that must be completed for the
project.

 Sequencing Activities: Determining the logical order of tasks, often using


tools like network diagrams to understand dependencies.

 Estimating Duration: Assessing the amount of time each task will take,
considering resource availability and potential risks.

 Developing the Schedule: Creating a timeline by placing tasks within a


calendar or schedule, using methods like the Gantt chart to visualize it.

 Monitoring and Adjusting: Continuously monitoring the schedule and


adjusting as needed, ensuring that delays are managed and milestones are
met.

Each step in time management helps keep the project on track, prevents delays,
and ensures timely completion of project objectives.

3. Project Management Software

Project management software is a digital tool that assists teams in planning,


tracking, and managing projects from start to finish. This software is essential for
coordinating tasks, tracking deadlines, and improving collaboration among team
members.

 Popular Features:

o Task Assignment and Tracking: Allows assigning tasks to team


members and monitoring progress in real-time.
o Resource Allocation: Manages the availability and workload of
resources, optimizing efficiency.

o Time Tracking: Records time spent on tasks, helping with productivity


analysis and project costing.

o Budgeting and Expense Tracking: Tracks project expenses and


compares them to the budget.

o Collaboration Tools: Facilitates communication and file sharing within


the team.

Examples of project management software include Asana, Trello, Microsoft


Project, and Monday.com. These tools help streamline processes, enhance
productivity, and improve transparency across projects.

4. Milestone Chart

A milestone chart is a project management tool that visually represents key


project milestones or important stages along the project timeline. Milestones
represent significant achievements or deadlines within a project, helping teams
track progress and identify critical points.

 Purpose: Milestone charts help stakeholders understand the project’s


progress at a glance, pinpointing major accomplishments or deadlines.

 Features:

o Shows specific completion dates for each milestone.

o Indicates the project timeline and estimated durations for key


phases.

o Highlights dependencies and critical deadlines.


Milestone charts are valuable for communicating progress to stakeholders and
keeping the team focused on achieving major goals.

5. Bar Charts

Bar charts are visual tools used to represent data in the form of rectangular bars.
In project management, bar charts are often used to compare tasks, resources, or
timelines visually.

 Structure: Each bar represents a category (e.g., tasks, resources, or time),


and the length of the bar reflects the quantity, duration, or frequency of
that category.

 Use in Project Management:

o Task Progress: Bar charts can display task durations and completion
percentages, helping track progress.

o Resource Allocation: They show resource usage or workload across


tasks, helping avoid over-commitment.

o Comparisons: Bar charts make it easy to compare different project


aspects side by side, such as cost or time required for each task.

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