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7 Managing Time, Cost, and Scope > Initiating the Project - Pg. 117

7 Managing Time, Cost, and Scope Learning Objectives By the end of this chapter, you should be able to: · Explain how to set up a monitoring and man- · · agement process you can use throughout the life of the project. Describe how to use project plans and status information to manage time, cost, scope, and resources. Identify key components of a change control process. You are now ready to begin project work. This chapter describes how to kick off the project and how to monitor and manage it through its life cycle, giving specific suggestions on managing time, cost, scope, and resources. I NITIATING THE P ROJECT When you have completed the final schedules, cost plans, and project speci- fications, compiled a project charter, and received proper approvals, you are ready to begin work on the project. Kickoff Meeting You can start a project on the right foot by holding a formal kickoff meeting with the project sponsor, customers, project team members, and other stake- holders. This is a great opportunity to explain the roles and responsibilities of everyone present and communicate the project plans clearly and concisely. It is the first step in establishing a team identity and building camaraderie. On large projects, you may wish to build team spirit and identity by develop- © American Management Association. All rights reserved. 117