Question

plz <answer all question

(A) When do project manager and project team members assess risks in project management? 18 marks] (B) Which one is more important among the project performance, cost and time in project management? 8 marks (C) Do you believe that project scheduling is similar to project management plan? [9 marks] Total marks 100 Marks

Answer 1

Solution:

1. Project Managers asses the risks involved in the project at the start of the project. after the overall risk assessment, the project risks are regularly calculated as the project progresses towards the completion and this risk element is frequently modified depending on the progress of the project. Hence, The risk calculation is a continuous process and is calculated at every milestone of the project.
2. As far as the rankings are concerned the following is the ranking of importance of the three parameters stated above,
   - Project time
   - Project Performance
   - Project Cost
   
   The project management is all about finishing the project on time and hence time has always been the first priority in project management. The performance of the project is equally important but the cost element is flexible and is often stated on the lower priority of the project managers.
3. Project Scheduling is a part of the Project management plan. The project management plan is a comprehensive plan which comprises different elements such as assessing the risk, assessing the costs involved, preparation of the project deliverables. scheduling the project and etc. hence Project Scheduling is a part of the Project management plan which is a holistic view of the project.