Question: CASE STUDY Read the case study below and answer the questions that follow. Impact of Project Management Tools on Project Estimates and Benefits Source: https://www.researchgate.net/publication/319128423
CASE STUDY Read the case study below and answer the questions that follow. Impact of Project Management Tools on Project Estimates and Benefits Source: https://www.researchgate.net/publication/319128423 Despite the increasing availability and variety of project management (PM) tools in recent years, projects continue to face challenges. PM tools are used to design and control project plans, deliverables, resources, budgets, staff assignments, roles and responsibilities. They have been commonly adopted not only to minimise project risks but also to counter unique challenges of each project. Project managers in Israel use PM tools more than their Japanese counterparts. They observe that PM tools enable project managers in Israel to focus more on executing planning processes and to enjoy the higher intensity of organisational support processes than their Japanese counterparts. While there are a variety of PM tools, they should be selected and applied in the right stage of a project cycle. The success of a project was once viewed primarily as a matter of scheduling, but it actually depends on many factors. Among the critical success factors are project risk addressing, assessment, and management. Answer ALL the questions in this section. QUESTION 1 (20 Marks) The article above states: While there are a variety of PM tools, they should be selected and applied in the right stage of a project cycle. Elaborate on the FIVE (5) stages within the project lifecycle. QUESTION 2 (10 Marks) The article above further states: PM tools are used to design and control project plans, deliverables, resources, budgets, staff assignments, roles and responsibilities. Briefly explain TWO (2) categories of project resources using an industry project example.
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