Advantages Of Project Management

6) Resources: Projects typically have a limited amount of resources. These resources need to be carefully managed as to not overextend them (e.g. Budget,

The paper is divided into three sections, the first of which will establish a timeline of events. This project background will serve as a case study for the analysis in the following section that will be structured such that each of the previously mentioned facets will be independently analyzed and contrasted with project management principles. Finally the paper will conclude with a summary of the analysis and recommendations based on

With the exceptional growth in technology, the present day projects are often large and complex involving a significant risk. So, a Project Management Methodology enables the delivery organization to handle these projects comprehensively, systematically and in an integrated manner, which results in strategic, tactical and operational benefits.

This paper was prepared for Fundamentals of Project Management, Module 2 Check Your Understanding taught by Dr. Levern Eady.

In this paper the word ‘project” is defined, discussed and elaborated on. The phases of a project lifecycle and its purpose are to be discussed, and how it is important for organizations to use project management to accomplish tasks will in conclusion be discussed thoroughly. The indisputable word ‘Project” may be defined in numerous unusual ways, some can all have the same meaning and others can mislead a reader. The definition that accurately explains what a project is, comes from the Houghton Mifflin Company (2009) website stating; “something that is contemplated, devised, or planned; plan; scheme.” A definition that can mislead a reader is this definition from the same website just two paragraphs

The project approach enables children to emerge in projects which they are interested in, in order to encourage them to raise and ask questions while teachers will provide materials and allow children to find answers by themselves rather than telling them the answer directly. For example, if children wonder where breads come from, or how they are made, teachers may arrange a field trip where they can find the answers by asking an experienced baker from a bakery, or staff from the supermarket, and such. Children are also encouraged to use modern technology like the internet to search for answers under adult supervision or through the traditional way of going to the library and look for relevant books. A project investigation promotes in-depth

Until 19th century, in an industry, almost all the projects were handled by engineers themselves. Halfway through the 20th century, project management evolved as a discipline in the field of engineering, construction, manufacturing and defense. As industrial evolution took place complexity of the projects undertaken by industry increased and organizations began applying management tools and techniques to plan these complex projects. Nowadays, from past 30 -40 years, project management has been integral part of almost every industry. Be it a pharmaceutical, IT, healthcare or government agency; project management thrives in it. Hence surely, it has changed the face of industrial project in terms of planning, organizing and controlling the resources to achieve the desired goals. And it will continue to do so in future. The article supports the claim that industrial project management has changed over the years and will evolve more and more in the future also.

The company has no methodology. You really do not have any processes or frameworks in place and departments or teams do projects different every time with varying results.

We will be comparing and contrasting the agile project management with the traditional project management in this paper. Traditional Project Management is a step-by-step approach of managing the project. Traditional approach is more appropriate for projects with clear initial user requirements and with clear project goals, on the other hand, agile project management approach is intended before all to the creative, innovative projects, such

No integrated planning and control in the project activity. There is no proper control and planning related to the project.

While projects can be similar in some instances, no two projects are ever the same. For this reason, management of projects requires the application of tools and techniques to meet the goals of the temporary endeavor. Project managers apply these tools and techniques to determine what is required for project delivery such as the list of activities to completed, the time required to complete the activities, resources needed and the various risks associated with the deliverable and efforts. A multitude of tools and techniques are employed by the project manager based on the need of the effort to organize, identify and communicate the various aspects of the project. While in contrast, the repetitive nature of operations activities

The traditional development method requires the definition and documentation of a stable set of requirements at the beginning of the project. It was inherited by other projects mainly related to construction which focused on the completion of one phase of production before moving on to the next phase, for example, laying the foundations of a building first and then proceeding with the further stages (Bowes 2014). Similarly, in Waterfall, the requirement gathering and designing work is done upfront before any coding takes place. The basic notion behind the traditional development approaches is that the projects are comparatively less complex, linear and predictable with clearly defined system boundaries which makes it simple to plan and follow without having any room for changes (Spundak 2014). Moreover, traditional development method depicts the requirements document as he key piece of documentation. The gathering of all the requirements, getting a sign off from the customer and then starting with the development of the project gives the project a limit of

Project Management is one of the key features on which the success of a project heavily depends upon. No matter what the type of project whether its IT or an industrial, the techniques, skills, tools and knowledge to meet the final delivery remains a common requirement in all. But it doesn’t mean that they should be applied uniformly on all projects. Here comes the importance of project management methodologies. A methodology is a model, which project managers employ for the design, planning, implementation and achievement of their project

It is a disadvantage for developers because sometimes developers could not adequately comprehend the project. (Yu, Loo, Tham & Tan, 2012) Especially for those novices developers or new team members. It is very difficult for them to join the team and understand the actual method followed to develop the software. (Sharma, Sarkar & Gupta, 2012) Therefore, developments teams could not understand the details of the project and it will cause a delay in project delivery. At this time, the development cost would be increase and it is one of the reasons why IT projects sometimes are out of budget and lead to project failure.

They are not tool specific. In today's software-reliant world, the reality is that the methodology and the organization's project management software tool are often heavily intertwined. Complication and sophisticated client expectations of the latest projects reveal the flaws of traditional project management methods. In addition usually project managers are expected to make a sense of balance between client expectations and business interests and also to improve the end product, decrease cost and duration of the project (Project Management Institute 2005). The disadvantages of traditional project management method are listed below.