Question 5
Process Groups - How much time and money is typically spent on projects in each of the process groups. Assume you have one year and $100,000 to spend. Justify your answer.
Most of a projects time and money will be spent in the execution process, since this phase involves acquiring the project team, carrying out plans and creating the products or services of the project. This takes up roughly about 70-80% of a projects time and money, depending on how well the planning process went. About 10-20% of time and resources go to the planning process and less than 10% go into monitoring and controlling, initiating and closing the project.
I completely agree with that most of projects are spent in the execution process as it is the process where teams actually work on the project itself. The completion of the project should always be the primary focus of a project and take up the most time. The overall quality of the project is almost always dependent on the time spent on it. A good example would be the video game company Valve. Valve is notoriously known for pushing back release dates for their games as they like to take their time and add quality to their games. When their games finally release, it usually gets good reviews by critics and is well received by the video game community. On the other hand, sports games such as Madden are known for have little or no improvement from their last iteration as the game developers working on them only have a year to work on each sequel.
ReplyDeleteIt all depends on the project complexity & sensitivity (which directly impacts the planning stage). If the project is not meeting the goals and changes are required, the monitoring and controlling phase may take more time and resources than the executing phase.
ReplyDeletekeeping in mind the project management process include idea of series per concepts. This will include the process of initiating, planning, executing, monitoring and controlling and closing. The initiating process include the layout of the goals, planning includes the steps and process of achieving the goals/deliverables, executing the action of carrying out the actual plan of the project, monitoring and controlling includes tracking and being timely and efficient with the timeframes provided and closing bringing the project to an end, piecing all of the above items together for a full story of the project.
ReplyDeleteI think it is better to spend more time in analysis then execution. A well analyzed project will most likely be executed and implemented smoother.
ReplyDelete