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What is the importance of project management
What is the importance of project management
What is the importance of project management
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Projects require people as it is the people who conceive the idea of the project. This is not only limited to the designing of the project plan, its approval, execution and closing. People are impacted by the outcome of the project. Whether the project is implementing a new software system, a new business unit, or a new bridge, there will be an impact on people. All of these people are stakeholders (Roeder, 2013). Freeman, Harrison and Wicks (2007) states that business can be understood as a set of relationships among groups that have a stake in the activities that make up the business. Business is about how customers, suppliers, employees, financiers (stakeholders, bondholders, banks and so on), communities and managers interact and create value. Customers, suppliers, employees, financiers, communities and the managers are all key parts of today’s business organization. The project management team must identify the stakeholders, determine their requirements and then manage and identify those requirements to ensure a successful project. Stakeholder’s identification is often difficult. Key stakeholders on every project include: Project manager this is the individual responsible for managing the project. Customers are the individuals or organization that will use the project’s product. There may be multiple layers of customers. Project team members are the group that performs the work of the project and sponsor the individual or group within or external to the performance organization that provided the financial resources, in cash or in kind, for the project (Project Management institute, 2000) Walker, Bourne & Shelley (2008) on the other hand categorizes stakeholders in four groups: upstream stakeholders, downstream stakeholders, d... ... middle of paper ... ...ication and analysis techniques. Retrieved February 25, 2014, from Learning Ace Web site: http://www.learningace.com/doc/1063225/288b1243f6fcc2df3c41c39785930c60/stakeholder_identification_analysis_techniques Twyford, V., & Baldwin, C. (2006). United Nations Environment Programme Dams and Development Project: Stakeholder Participation. Retrieved February 25, 2014, from United Nations Environment Programme Web site: http://www.unep.org/dams/files/compendium/Report_SP.pdf Schmidt, P. (2012). Stakeholder Involvement in Rehabilitation of Former Uranium Mining Site International Case Studies. Retrieved February 25, 2014, from International Atomic Energy Agency Web site: http://www.iaea.org/OurWork/ST/NE/NEFW/WTS-Networks/ENVIRONET/environetfiles/WkpRemediationInfrastructure_Germany_Dec2012/WkpRemediationInfrastructure_Germany_Dec2012-Stakeholder_Involvement_Schmidt.pdf
Silenced Rivers: The Ecology and Politics of Large Dams author Patrick McCully (2001) reports that dams store water for river fluctuations as well as for energy and water demands (p. 11).
Identifying stakeholders for an intervention is essential. Stakeholders are all of the individuals who are affected by and issue or problem (BOOK). The stakeholders are going to be the individuals who can work towards changing the problem and who deal with the concern at the front lines (BOOK).
Shiller (2003) believes that stakeholder theory suggests that corporate stakeholders are divided into external stakeholders and internal stakeholders. External stakeholders include investors, creditors, customers and the government. Internal stakeholders include managers and employees and so on. Woolworths Company's stakeholders in the process of canned processed foods are as followed:
Talking directly to the stakeholders will help answer most of these key questions. For IT projects meeting the key stakeholders in a forum to review progress on the project is key to its success. Therefore a well drawn up project plan will ensure that there is enough representation of the stakeholders at the regular project review meetings.
Outside of China, the United States is the most-dammed country on the planet. Counting only dams taller than fifty feet high, the U.S. has some 5,000 dams that range from giant hydroelectric dams such as the Grand Coulee in Washington State to flood control dams in the southeast and dams that provide water for irrigation in California. Overall the United States has as many as 2.5 million dams of one sort or another. The design and construction of many of these dams took place between 1930 and 1975. This 45 years period is known as the golden age of dam building, starting with the construction of the Hoover Dam beginning in 1931. By the 1970s the golden age of dam construction began to come to an end with increased concerns of the impacts of dams on their surroundings. To better understand this time period I will look at the construction of Hoover Dam during the 1930’s followed by an examination many of today’s arguments for and against dams [i].
According to Carroll (2009), stakeholders are any individual or a group who are associated with an organization and has mutual influences. He also claims that the stakeholders can influence or be influenced by any actions, decisions, policies, and goals of the organization. Clarkson (1995) defines primary stakeholders as a group or an individual who has high level of independencies and play a essential role in the survival of the organization whereas secondary stakeholders also have interactivity with the organization; however, they are not participated in transactions and without them, the organization still can survive. From this classification, we can easily identify a range of different stakeholders as primary or secondary in terms of their
Stakeholders are those groups or individual in society that have a direct interest in the performance and activities of business. The main stakeholders are employees, shareholders, customers, suppliers, financiers and the local community. Stakeholders may not hold any formal authority over the organization, but theorists such as Professor Charles Handy believe that a firm’s best long-term interests are served by paying close attention to the needs of each of these stakeholders. The modern view is that a firm has responsibilities to all its stakeholders i.e. everyone with a legitimate interest in the company. These include shareholders, competitors, government, employees, directors, distributors, customers, sub-contractors, pressure groups and local community. Although a company’s directors owes a legal duty to the shareholders, they also have moral responsibilities to other stakeholder group’s objectives in their entirely. As a firm can’t meet all stakeholders’ objectives in their entirety, they have to compromise. A company should try to serve the needs of these groups or individuals, but whilst some needs are common, other needs conflict. By the development of this second runway, the public and stakeholders are affected in one or other way and it can be positive and negative.
One method of engaging the stakeholder is through the Stakeholder Analysis. It is an important method that can be used to identify key personnel for support. The initial step is to identify who the stakeholders are, then work out their power, influence and interest, that would be focused on. The final step involves developing a good understanding of the most important stakeholders to know how they are likely to respond to the organizational ideologies. This helps to work out the plans on how to win their support.
The importance of proper stakeholder identification is occasionally overlooked due to complacency or unhealthy business practices in project management. Failing to properly identify stakeholders is a perfect formula for disaster. According to the Project Management Body of Knowledge (PMBOK) (2013), identifying stakeholders is the method of recognizing any person or group that can influence, be influenced or seemingly influenced by the process and consequence of a project. Their interest and impact on the project are then examined and documented. Customers, societies, and benefactors are all considered stakeholders and they are actively involved in project activity (PMBOK, 2013).
Pottinger, Lori. "Environmental Impacts of Large Dams: African Examples." International Rivers. N.p., 1 Oct. 1996. Web. 04 May 2014.
Sometimes, the stakeholders of the projects have their own personal objectives which become a hindrance in carrying out the project successfully.
Many people have already dammed a small stream using sticks and mud by the time they become adults. Humans have used dams since early civilization, because four-thousand years ago they became aware that floods and droughts affected their well-being and so they began to build dams to protect themselves from these effects.1 The basic principles of dams still apply today as they did before; a dam must prevent water from being passed. Since then, people have been continuing to build and perfect these structures, not knowing the full intensity of their side effects. The hindering effects of dams on humans and their environment heavily outweigh the beneficial ones.
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.
To start this Argument we look at the definition of business. Business is an activity that one, two or more people do to produce and circulate goods and (or) services for the well-being comfort and happiness of people and society as a whole while profit is gained.
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