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Execution of Projects, Legal Aspects & Role

Project management involves planning, organizing, staffing, directing and controlling resources to achieve project objectives within constraints of scope, time and cost. During project execution, resources are allocated and external resources may be purchased to develop the commissioned product or service. Legal aspects like contracts, risk management, and dispute resolution must be addressed. Key variables that determine a project's success are time, cost, quality, scope, and risk management.

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Vinay Kumar
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30 views11 pages

Execution of Projects, Legal Aspects & Role

Project management involves planning, organizing, staffing, directing and controlling resources to achieve project objectives within constraints of scope, time and cost. During project execution, resources are allocated and external resources may be purchased to develop the commissioned product or service. Legal aspects like contracts, risk management, and dispute resolution must be addressed. Key variables that determine a project's success are time, cost, quality, scope, and risk management.

Uploaded by

Vinay Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Execution of Projects,

Legal Aspects & Role of


Significant Variables
Project Management
• Project management is a system of procedures, practices,
technologies and know how that enables the planning,
organizing, staffing, directing and controlling of project
activities to successfully manage a project. It may be described
as planning, organizing, staffing, directing and controlling some
part of the organization for relatively short period of time to
achieve the project objectives with in laid down constraints.
• Project Management is the art of directing and coordinating
human and material resources throughout life of a project by
using modern management techniques to achieve pre-
determined objectives of scope cost, time, quality to the equal
satisfaction of those involved."
The Scope Triangle
Typical Project Lifecycle
Project Execution
• The purpose of execution is to produce, deliver and deploy the
project’s outputs. This global stage of a project requires the
allocation of internal resources and, in most cases, the purchase
of external resources. The processes that underpin initiation
and planning are exclusively above-the-line.
• The purpose of Project Execution and Control is to develop the
product or service that the project was commissioned to
deliver. Typically, this is the longest phase of the project
management lifecycle, where most resources are applied.
Project Execution and Control utilizes all the plans, schedules,
procedures and templates that were prepared and anticipated
during prior phases.
Project Execution and Control
Legal Aspects
• Risk Insurance: – When a project is initiated, there are obviously
certain risks involved. Not only accessing these risks is important,
but creating ways to overcome these risks while incorporating them
in contract is equally important.
• Project contract: – The drafting of the project contract includes
the most of lawyer’s contribution. While contracting, he would
have to go through the nature of obligations that would arise from
the contract and also, the evolution of agreements whilst making
business-related decisions.
• Change control: – A contract for project when proposed must also
include a procedure for change in the contract including the
conditions of change and sometimes, listing of the situations only
in which the changes can be made.
Legal Aspects
• Imposing restrictions: – In a project contract between two parties,
it is common that the restrictions would be imposed on party by
another. It is the duty of the lawyer to check that the restrictions are
in consonance with Section 27 of the Indian Contract Act.
• Interpretation of Contract: – Any law would include the
interpretation part as it is the only way to understand it. The very
first part of interpreting any contract is its recitals.
• Reprisal of issues by Arbitration or mediation: – It is quite
important to include arbitration or mediation clause in the project
contract. In case of small disputes between contracting parties, one
cannot always approach the Court for that, then the cases would
last till eternity and it would become impossible to accomplish the
project.
The Variables for success
Role Of Significant Variables
• Time - The amount of time required to complete the project.
Typically it is broken down for analytical purposes into the
time required to complete the components of the project. This
is then further broken down into the time required to complete
each task contributing to the completion of each component.
• Cost - Calculated from the time variable. Cost to develop an
internal project is time multiplied by the cost of the team
members involved. When hiring an independent consultant for
a project, cost will typically be determined by the consultant
or firm's hourly rate multiplied by an estimated time to
complete.
Role Of Significant Variables
• Quality - The amount of time put into individual tasks
determines the overall quality of the project. Some tasks may
require a given amount of time to complete adequately, but
given more time could be completed exceptionally.
• Scope - Requirements specified for the end result. The overall
definition of what the project is supposed to accomplish, and a
specific description of what the end result should be or
accomplish.
• Risk - Potential points of failure. Most risks or potential
failures can be overcome or resolved, given enough time and
resources.

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