Question

PROJECT MANAGEMENT

Question 1

“Time is the scarcest resource unless it is managed nothing else can be managed”. - Peter Drucker

Using your knowledge, critically evaluate this statement with respect to the use of time management tools and techniques use in Project Management. 20 lines max

Answer 1

Time Management:

1. A project is a planned set of work to be done at a given time period. Managing time, efforts and cost effectively in a project is known as project management. Any project always comes with a tight deadline and hence time management is a great challenging for project managers.
2. The project manager on one side needs to handle the client by explaining to them how much time it would take to complete the time and on the other side to motivate his team member to stretch working hours for closure of the project within the deadline. Hence time is an important concept in project management.
3. In order to proactively planned time there are effective time management times and tools like
   1. Creating to do lists which capture all actions which need to be done in the short and long term.
   2. Work break down structure is another important tool wherein each and every activity is described and then a check list is created. This tool helps them avoiding a missing out of major activities in any project.
   3. Developing schedule is another important technique which uses critical path method, critical tool method, scheduling tools etc in order to show which activity should be done at what time.