Project Management Managing Business Projects

Question: Describe about the Project Management for Managing Business Projects. Answer: How might changes to project scope affect the project's schedule, and how would a project manager formally communicate such variances to project stakeholders: Scope Baseline: this is the scope of the statement of the project in much detail. This includes the deliverables of the project and the work that is required to be done for the purposes of creating those deliverables. When there is any change in the scope of the project, then there is a need of an upgradation or replacement of the various servers and that could affect the project. Schedule baseline: this is the sequence in which the tasks would be undertaken. This further breaks down the structure of the resources that would be applied to the project. Again the changes in this would affect the scope of the project (Evans, 2016). Cost: this is the amount that is incurred for the purposes of completing the project. If this is changed, then the company may not even earn profits. Quality: in case, the quality of the work has been compromised then that would affect the company and its future work or projects (Project Development Procedures Manual, 2016). The following are the ways through which the changes in the project scope can be communicated to the stakeholders: Use of the collaborative softwares for the purposes of creation of the reports: this helps in keeping an up to date status of the tasks, issues and ensures the completion of the software of the project management. Project status reports: this includes the well written report which contains exactly what needs to be done and what is being done. The managers or the topmost management must meet with the stakeholders and communicate the changes that took place, the reasons due to which it took place and the effects that the change would have on the project scope. The shareholders must know the expectations that they have from the company. If they want a weekly update, then update them accordingly, if they want a monthly update, then they must be provided with the same (Project management, 2016). The project scope is defined as the boundaries which the project exists, there is an establishment of the various responsibilities of each of the team member and also that sets up with the way the work is to be completed and the same would be verified and approved. This documentation could also be referred to as the scope statement or the statement of the work to be done or the terms of the reference. This documentation helps in focussing on the task that is in hand and that would remain in the project team (Tech target, 2016). The concept of project management tringle or triple constraint or the iron triangle is the model that constrains the various constraints of the project management. It is a graphic aid that helps in the attribution of the various corners of the triangle and that shows the opposition. It helps in choosing the goals of the project. It further helps in the measurement of the success which is further measured by the team of the project and helps in ascertaining the ability to manage the project. This is done in order to produce the time and the cost and to achieve the expected results from the project (Mind tools, 2016). In the nutshell, I agree with the fellow students article since it provides the same definitions as the above. References: Change Management Plan Template. (2016).Projectmanagementdocs.com. Retrieved 5 October 2016, from https://www.projectmanagementdocs.com/project-planning-templates/change-management-plan.html#axzz4MC5wkMAK Evans, M. (2016).Managing Projects.www.exinfm.com. Retrieved 5 October 2016, from https://www.exinfm.com/training/pdfiles/course19.pdf Project scope. (2016).www.dot.ca.gov. Retrieved 5 October 2016, from https://www.dot.ca.gov/hq/oppd/pdpm/chap_pdf/chapt06.pdf The Iron Triangle of Project Management: Balancing Your Budget, Scope, and Schedule. (2016).Mindtools.com. Retrieved 5 October 2016, from https://www.mindtools.com/pages/article/newPPM_54.htm What is project scope? - Definition from WhatIs.com. (2016).SearchCIO. Retrieved 5 October 2016, from https://searchcio.techtarget.com/definition/project-scope