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Relevance in project management
Relevance in project management
Project management techniques
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Projects are implemented as a means of achieving an organization’s strategic plan. Operations and projects differ primarily in that operations are ongoing and repetitive while projects are temporary and unique. A project can thus be defined in terms of its distinctive characteristics- a project is a temporary endeavor undertaken to create a unique product or service. Temporary means that every project has a definite beginning and a definite end. Unique means that the product or service is different in some distinguishing way from all other products and services. For many organizations, projects are a means to respond to those requests that cannot be addressed within the organization’s normal operational limits (Project Management Institute …show more content…
Planning the project is a vital part in project management as it sets a benchmark for setting up the methods of execution for the project. It points out the objectives of what the project will achieve when accomplished and how the project will be completed. Planning process is an inevitable process in project management as poorly planned projects leads to catastrophic outcomes such as projects getting stalled for longer periods of time, projects getting officially cancelled midway after initiation, etc. There are four basic reasons for project planning which as follows (Kerzner 2009 10th Edn: …show more content…
Similarly, to execute a state-of-the-art mass rapid transit system in the city of Delhi, extensive planning was required by the DMRC keeping in view of abstention from corruption and malpractice by bureaucrats. DMRC was the sole organization responsible in planning and execution of the project which was directly addressable to the Government of India and also had almost no political interference in its decision-making. The Project Manager at the DMRC was the person who had the firm control over the proceedings of project execution. The members of the DMRC were well aware of their roles and contributions. Since there was no political inference, it was a massive task faced by the DMRC to execute the project due to critical view of the organizations and stakeholders involved. The DMRC had their objectives well set-out to address the issues regarding the implementation of the project. The DMRC planned the Delhi Metro Rail Project in order to meet the following
For more than 25 years, The Little Black Book of Project Management has been introducing project managers to the incredibly effective and logical project management skill and methods to help them achieve their goal. This book has been flooded with very nee project management techniques as well as the latest standards of the Project management body of Knowledge (PMBOK) .accepted by PMI (Project Management Institute).
Large and small businesses, governments, and schools strive to build the next new gadget, manage resources more efficiently, and teach or train in more creative ways. If they set out blindly on a task without proper oversight and thought about the process, then surely the result would be a dismal failure. Project management enables these entities, and various others, to carefully consider the many variables before, during, and after the project actually takes place. Project management refers to the careful planning, organization, and management through a single one-time activity. Projects are non-routine tasks that are set out to be accomplished for a specific amount of time (Trelles-Duckett & Lonergan , n.d.). Projects have an absolute
In today's business it is in the best interest of companies to have project managers. Common sense isn't always easily accomplished. Anyone who's ever worked on a project in a technical setting knows this. Indeed, much of working with others consists of solving unexpected problems and learning from mistakes along the way. Knowing this and having the proper tools a project manager will be able to manage and complete the most intense project out there.
Once the product life cycle ends, it is up to the project team to help
A project is a temporary endeavour undertaken to create a unique product or service. They are goal oriented, have a definite start and finish time, must be done within cost, schedule and quality parameters. Projects involve the coordinated undertaking of interrelated activities (Project Management: Achieving Competitive Advantage). According to Tom Peters, “Projects, rather than repetitive tasks, are now the basis for most value-added in business”. Based on this, it is clear that projects are of utmost importance to businesses in both the service and the manufacturing industries.
The projects in today’s world are given a lot of importance and it will continue to grow in the coming years. There are a lot of companies which do not have production, but all of them do have projects. There are a lot of books which have been published on which related to planning and managing the projects. The one of the most important one was published by the author Eli Goldratt in his book ‘Critical chain’. This book basically talks and shows how the application of theory of constraints in the field of project management. The novel is basically based on one of the MBA classes in America where a number of ideas are developed in discussions among the students and the lecturers. The lecturer is basically fighting for a tenure with the president of the university who expects a downturn in the executive MBA. The lecturer who teaches project management has a word with one the senior colleagues and project management was the right topic to teach. There were three students who were placed in the project management team of their company which manufactures electronic products. The students are enrolled in this MBA class along with other students, here they discover a new approach to project management which is known as the
“Our plans miscarry because they have no aim. When a man does not know what harbor he is making for, no wind is the right wind” a famous quote about our goal by Seneca. It is a metaphor about the achievement goal and objectives by good planning skills. One has to plan for what one wants to achieve and where one wants to go. One of the most important things is to have good planning, before taking any project the first think you should do is to create project plan. Planning can be defined as preparing a sequence of action to achieve specific goals and objectives. According to Kerzner (2009), “project planning is desirable that the project manager is involved from project conception through execution. It must be systematic, flexible to handle, closely disciplined through reviews and control and capable of accepting multi functional inputs (pg. 412)”. The importance of planning a project is to describe the work so that it will be easily identifiable to the project team member.
The topic of my group (group 4) was “How to totally float through your project for free” and the presentation was held by Roger Goodman who works for PMI NZ and Ernst & Young supply chain management with many years of working experience in many different countries such as Saudi Arabia and China.
In both methods of planning, short term and long term it is necessary to achieve top-notch results. Like in any other process, there are both benefits and pitfalls to planning. Good planning provides a clear focus for the company, raises effort, increases persistence, and develops task strategies. In the first benefit of planning, important members focus on what is important in order to achieve the planned outcome. The second benefit of planning increases effort in the execution process. A plan-oriented company gives a greater energy in a specific project situation than a company that is not plan oriented. Adding to this advantage, the effort helps reduce time waste and maximizes productivity. The third benefit of planning is persistence. Persistence is important in achieving a goal and becoming successful; persistence is the willingness to continue a task regardless of changes in a plan. In the fourth benefit of planning, planners are encouraged to contribute with their ideas and participate in the goal process at any time. Despite the benefits of planning, the process of planning can also have its disadvantages. The main disadvantage of planning is the members’ misconception that planning solves problems. Because of their misconception, planners rely on opinions rather ...
“Project management is the application of knowledge, skills, tools, and techniques to organisational and project activities to achieve the aims of an organisation through projects” (PMI, 2003).
In this real world, we have lot more projects to-do but the project manager should select the right project. The project manager should consider the categories which are Venture, Growth and core for selecting a project. Next, whenever we are doing a project first we need to have a good plan, time and budget. Sometimes, the flow of the project may fail in schedule planning or it may run out of budget so, the project manager needs to plan correctly and also need to estimate the budget required for the project because when the project is approved to work with then project manager should fix to the deadline and the budget for the completion of the project. So, scheduling the project is very important and often need to be checked whether the project is on schedule, on track, on budget or
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.
Project planning falls in the Planning Process Group which consists of those processes to establish the projects total scope, define the projects objectives, and courses of action to achieve those objectives. During the planning process, all the documents that are needed to carry the project through the project lifecycle will be developed such as the project management plan. Project management requires repeated feedback loops as additional information becomes available and is better understood. The planning process delineates the strategy, tactics, and path to successfully complete the project. With that, the planning of a project must walk through all the those processes from executing, monitoring and controlling through the closing process.
Planning is specifying the objective to be achieved and deciding in advance the correct action needed for the team or company to achieve those goals. Also is concerned with the future impact of today's decisions. Planning is a fundamental function of management from which the other three stem. The need for plann...
Project management involves all activities that encompass scheduling, planning, and controlling projects. A successful project manager ensure that an organization’s resources are being used both efficiently and effectively. Most projects need to be uniquely developed require a sense of customization and the ability to adapt to any posed challenges. The scope of effective project management includes defining what the project is and what is being expected to be accomplished. Projects are imposed to fulfill a certain need and project managers must have the ability to create the proper definition. Goals and the means used to attain those goals have to be clearly stated. Project Managers must also have the ability to plan