Advantages And Disadvantages Of Lpm

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Advantages and Disadvantages of LPM Similar to TPM and APM, LPM also has advantages that can create disadvantages for a project that adopts this approach. The biggest advantage LPM grants a project is the standardized process that the approach creates. The standardized design creates a work breakdown structure (WBS). This allows each team member to understand which aspects and activities of the project they are involved in. Implementing a WBS helps reduce the time and cost of a project. (Sid, 2015, p. 6). Creating a standardized process can prove to be beneficial for an organization. However, once the standardized process is creating and implemented into the project management aspect of the business, it can be difficult to change and…show more content…
The advantages of TPM are the careful planning, scheduling and budgeting prior to the commencement of a project. This allows for project managers to more easily control cost. Furthermore, TPM has a vertical and structured chain of command. This allows for clearly defined levels of authority in which every individual associated with a project knows who they are to report to. Also, by creating a clear chain of command and a project that has been carefully planned, possibly barriers and risks have been identified prior to the start of the project. However, because of the time spent on the planning of the project, any changes to the original project plan can create wasted time as official change documents must be created and submitted up the chain of command, which can create project delays which only increase the cost of a project. On the contrary, APM allows for changes to be made quickly and informally, which eliminates the wasted time of waiting for change approvals. However, the increase in flexibility does increase the risk of a project using an APM approach (Fernandez and Fernandez, 2008, p. 15). Risk is increased because of the chance that when a change is quickly made to a project, it might be the best short-term option but could hinder the project in the long-run. The duties of a project manager differ as well between TPM and APM. In the TPM approach, project managers are

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