According to Kerzner in "Project Management Case Studies, 2nd Edition" chapter 15, management must control costs, labor expenditures, and performance of a project in total rather than concentrating on one of these items. If a project is meeting its performance goals, but is over its estimated costs, in either work hours and/ or dollars, then the project is not on track. Inversely, if a project is on budget, but not meeting its performance goals then the project is not in good shape either. Therefore, a project manager must put equal efforts on all three of these items to make sure that a customer is fully satisfied with a product and the company is not losing money doing so.
Using Microsoftî Projectî a project manager is able to breakdown a project into smaller work packages to more easily track costs, performance goals, and labor hours. Elite Relocation Services has done this thru a Gantt chart.
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English: screenshot of WME project manager Рус...By doing so, the project manager is able to clearly compare the budgeted costs, labor hours, and set performance goals to the actual costs, labor hours, and job performance. This section will discuss the work package hours that have been created for the Smith Family relocation project. With the nature of Elite Relocation Services being virtually a consulting company, there is only one person directly responsible with each work package making it very easy to allocate work hours. These team members will only work on this one project until the work package is completed; therefore, there is not a worry of not having enough time to accomplish a task.
The Smith Family relocation project has been broken down into five work packages:1. Project Initiation2. Real Estate3. Relocation Activity4. Interior Design5. ConciergeThe project initiation work package has been allocated 293.33 work hours. These hours are...