Quick Answer: What Are The Components Of A Project?

What are the main components of a project specification?

The primary components of a project management plan are:Scope Statement.Critical Success Factors.Deliverables.Work Breakdown Structure.Schedule.Budget.Quality.Human Resources Plan.More items…•.

What is the role of project specifications?

Let’s look at the main reasons why the specification is so important to the construction process: It provides clear instructions on the intent, performance and construction of the project. … It can be used to support the costing of a project: not only the materials and products but also the performance and workmanship.

What are the five components of project parameters?

When it comes to project management, these four factors – time, cost, quality and quantity – constitute the most important parameters.

What are the three components of project management?

There are three main interdependent constraints for every project; time, cost and scope. This is also known as Project Management Triangle.

What are the 4 types of cost?

Following this summary of the different types of costs are some examples of how costs are used in different business applications.Fixed and Variable Costs.Direct and Indirect Costs. … Product and Period Costs. … Other Types of Costs. … Controllable and Uncontrollable Costs— … Out-of-pocket and Sunk Costs—More items…•

What are the tools of cost control?

Let me talk a little bit more about each of those tools and how you can best use them.Cost Estimate. During the project’s very early days you won’t have a lot of detail. … Budget. … Cost Monitoring. … Financial Evaluation.

What is project life cycle?

What is a Project Life Cycle? The project life cycle is a 4-step framework designed to help project managers guide their projects successfully from start to finish. The purpose of the project life cycle is to create an easy to follow framework to guide projects.

What is Project procedure?

The procedure refers to a highly detailed series of specific steps that are to be taken over the course of the project.

What is an outline specification?

Based on definitions from the AIA Handbook and the CSI Manual of Practice, an outline specification is an itemized list, using brief, concise statements, of significant materials, systems, and equipment and their criteria and levels of quality. … Tailor each outline specification to the specific project.

What are the 4 P’s of project management?

There are 4 critical components puff project management which is known as the ‘4Ps” namely Product, Process, People, Project.

What are the major types of costs in project management?

Project costs typically fall into three basic categories—direct cost, general conditions, and profit and overhead. The direct costs include heavy equipment, construction materials, and labor—all the costs that can be directly attributed to the production of the physical product on site.

What are the the 3 basic dimensions of a project?

Every project is constrained by three dimensions: time, budget, and scope. This is what we’ve known from our project management books and training. These three dictate the direction of any project and are used to measure project success.

What are the 10 knowledge areas of project management?

These are the 10 Project Management knowledge areas:Project Integration Management.Project Scope Management.Project Schedule Management.Project Cost Management.Project Quality Management.Project Resource Management.Project Communications Management.Project Risk Management.More items…•

What is Project process?

Project process corresponds to the project implementation that is divided into sub processes. … The components of the project process are: project start, project preparation, project planning, project implementation and project completion. The two last components should contain also the project decision.

What are the 4 phases of the project life cycle?

A standard project typically has the following four major phases (each with its own agenda of tasks and issues): initiation, planning, implementation, and closure. Taken together, these phases represent the path a project takes from the beginning to its end and are generally referred to as the project “life cycle.”

What are the components of project cost?

While the variables of any given project may change according to circumstances, there are four main elements of project costing found in most all project cost estimations.Pre-Planning. … Material Costs. … Human Resources. … Operating Costs. … 2016 Salary Information for Cost Estimators.

What are the 5 phases of a project?

Developed by the Project Management Institute (PMI), the five phases of project management include conception and initiation, planning, execution, performance/monitoring, and project close.