Project Management Already Passed

Initiation {Ans: Requirements: -Scope -Duration/Start -Location -Budget People Involved: -Client -Owner -Consultant -PM}Inertive nature of a project {Ans: }PM Triple constraints {Ans: Time, cost, scope}Management Process {Ans: 1. Clear goals 2. Problem solving: investigations to come to solutions. constant communication 3. Develop a detailed plan: lays out tasks, establishes resources, budget and schedule parameters 4. Control the project: mobilize contractors, suppliers and vendors and evaluate their progress}Advantages of traditional procurement {Ans: -Many options -All tendering contractors bid at the same time >>justice -Client has direct influence -Certainty of price as soon as you get contract -Changes in contract easily applied -this method is familiar in the market}Contracts {Ans: An agreement between two or more parties representing a promise which one person agrees to perform a specific task or provide goods or a service to another in exchange for something in return.}