After preparing WBS, a budgeting exercise is carried out where the quantum of all the activities are estimated & competitive rates are being derived, and a preliminary estimate of the project is prepared for further approval (where necessary amendments are done based on any additional cost incurred during the project).Event : Planting a tree Activity : Procuring tree, 2. WBS is nothing but breaking down the major event into a set of activities (For ex. All the activities of the project are listed down, and their respective WBS (Work breakdown structure) is prepared.Detailed project scope, feasibility is defined.Apt tools that are required for project management are identified & provided to the team.Īfter Initiation, here comes the major & crucial phase of the project, which is a way ahead route map for the project management:.Internal & cross communicational protocols and respective hierarchies are disclosed to all stakeholders.Procedures & formats for posting project information and updates to stakeholders are provided to the team.The team is assigned to their respective job roles & responsibilities.The project’s scope and goals are defined clearly, and all stakeholder expectations are clearly discussed with the team.With respect to project requirements, a suitable team is identified & brought on board.This is the primary project management phase for any project in this phase, the initial requirements are identified and established as follows:
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