PROJECT FINANCIAL MANAGEMENT BEST PRACTICES RICHARD MAGU PMO LEAD– AFRICA SOFTWARE GROUP LIMITED Thursday, 21 March 2019 Uphold public interest

Scope Management What is Scope ?

Scope Management What is Scope ? The work required, and only the work required to complete the project successfully.

Scope Management Scope Management is concerned with defining and controlling what is and is not included in the project. The definition and control of scope needs to be well organized and this is typically done with a scope management plan.

Scope Management Definition of the scope is done by: Collecting requirements Developing a detailed description of the project or product Subdividing the project deliverables and project work into smaller, more manageable components

Scope Management Control of the scope is done by: Formalizing acceptance of the completed project deliverables Monitoring the status of the project work and managing changes to the scope baseline.

Project Planning Does planning a project have any value?

Project Planning Why plan in the first place ? The objective is to develop a course of action that shall ensure that the project is delivered as expected. The course of action may need to be adjusted as the project is delivered to ensure it adapts to changes that arise during the projects life.

Project Planning Project planning should cover all aspects of the project and accompany the project from inception to closure. Image is from PMI- PMBOK Version 6

Project Scheduling Time is the only resource we cannot create

Project Scheduling Schedule management aims to ensure timely completion of the project. Image is from 2018 PMI Pulse of the Profession Report

Project Scheduling How do you manage your schedule ? Develop a plan of how you shall develop and control the schedule throughout the project Identify and document the specific actions to be performed to produce the project deliverables Identify and document the relationship between these actions (activities)

Project Scheduling How do you manage your schedule ? Estimate the number of work periods needed to complete individual activities with the resources available Analyze activity sequences, durations, resource requirements and schedule constraints to create a project schedule model for project execution and control

Project Scheduling The project schedule model can be depicted in a Gantt chart.

Project Scheduling How do you manage your schedule ? Monitor the status of the project to update the schedule and manage changes to the schedule baseline.