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The concept of construction project management is that the material resources of a project is manage
by using modern management techniques to achieve the objectives of scope, cost, time, quality and
participation satisfaction.
2. Identify and discuss briefly the Nine (9) Project Management Body of Knowledge
-Scope management deals with the processes of defining and documenting all the work that is required
to successfully complete a project.
-Planning and Execution both form an integral part of Time management. Time, unlike money, once
gone cannot be reobtained. So, time is a much more valuable commodity than money. Thats why the
knowledge area of time management is a critically important one. But unfortunately, a universally
agreed-upon way to manage time doesnt exist. The management of time and prioritization of activities
depends upon the discretion of the project manager. Fortunately though, there are some standard
processes that can help in this regard.
Estimate costs: Part of the planning process group this involves developing an estimation of
the monetary resources required to complete project activities.
Determine budget: Aggregating the estimated costs for individual activities or work packages to
establish an approved cost baseline. This is a part of the planning process group.
Control costs: Monitoring project status to update the budget and manage changes to the cost
baseline
Project Quality Management
-The totality of characteristics of an entity that bear on its ability to satisfy stated or implied needs. The
meaning of quality has changed a lot over the years, depending on who you talk to. And a measure of
excellence or state of being free from defects, deficiencies, and significant variations
-the processes that organize, manage, and lead the project team.
the processes that are required to ensure timely and appropriate planning, collection, creation,
distribution, storage, retrieval, management, control, monitoring, and the ultimate disposition of project
information.
Where there is uncertainty theres risk. It is the lack of knowledge about a possible future event that can
create a positive or negative effect on the project. Risk must be managed early and often. Risk is
always associated with the future.
-the processes necessary to purchase or acquire products, services, or results needed from outside the
project team. Processes in this area include Procurement Planning, Solicitation Planning, Solicitation,
Source Selection, Contract Administration, and Contract Closeout.
Project Management refers to the oversight and coordination of a set of tasks carried out to produce a
product or service. This includes gathering data, managing requests, scoring and prioritization if
necessary, managing the resources involved, and generating the reports for essential elements of the
project. The objective of an organization such as a project management office is to complete projects
successfully, by keeping them on budget and within the time framework allocated.
Program Portfolio Management is the management of inter-related projects that can yield increased
benefits when handled together. The scope of a program is likely to be wider than the project, and must
focus heavily on the benefits of the investment. The goal is to satisfy the criterion for which the program
was set up.
http://pmpcertificationhelp.com/project-procurement-management/
https://en.wikipedia.org/wiki/Project_Management_Body_of_Knowledge
https://www.innotas.com/resources/project-management-vs-program-management-vs-portfolio-
management
https://en.wikibooks.org/wiki/Project_Management/Portfolios/Programs_Management
http://pmbook.ce.cmu.edu/09_Construction_Planning.html
HOMEWORK 3
1. What is the importance of "project procurement management" and the increasing use of
outsourcing for construction projects?