Project Management Process Group - Project Monitoring and Essay

Project Management Process Group - Project Monitoring and Control----management paper - Essay Example The managers entrusted with the project have developed several approaches to track and control changes to the schedule and cost besides managing all identified risks through standard procedures. For effective management, a team of two project managers (known as the high-level and low-level project managers respectively) have been nominated from the company’s management team who will oversee the entire process of ugradation to the new EU regulatory directives. The PD will delegate the activities of requirements and change management to a requirements team (RT) comprising several well-qualified professionals. For further information on the project team, please refer to the chapter titled ‘Stakeholders and Stakeholder management’. All requirements are developed through a formal process and stored in one of the company’s network drives in MS Access format, allowing a proper definition all required components and resources besides using it as a reference point for all purposes of management, monitoring and control. The primary purpose of storing all requirements in a database is to retrieve them when required and develop traceability matrices through them. The traceability matrix is an easy way of checking whether each of the requirements identified are met and to help create various documents such as a request for proposal, deliverable documents as well as plan individual project tasks. The use of a web based solution has facilitated an automated creation of all these components whenever required. It must be mentioned at this particular juncture that the requirements analysis (RA) processes are performed constantly through a series of regular stakeholder interviews. A list of stakeholders has been provided below. Besides identifying all the required changes to implement the directives (and also the non-compulsory directives in the