I am extremely upbeat to impart my learnings on this course by righteousness of this term project. I have attempted to abridge a significance of the vast knowledge that I picked up from this course, and my experience with my assignments and projects.
Project Management is the art of arranging, sorting out, spurring, and controlling resources to attain specific objectives. A project is a brief endeavor intended to deliver a unique product, service, attempted to meet extraordinary objectives and goals, commonly to achieve helpful change or included quality.
To summarize,there should be a framework or model which we can use to achieve both strategy formulation and execution excellence. The sequence of steps will help us implement a successful project management.
Step 1: Identify the unit for which a Project strategy is being developed. Understand the business statergy and the priorities and objectives.
Step 2: Define the Project planning and Project implementation
Step 3: Identify the key sources of competitive advantage (Business Strategy)
Step 4: Identify key organizational capabilities and cultural capabilities . Translate them how people are going to behave – How will people behave differently in future than they do today if those capabilities are executed at ideal level.
Kerzner triangle :
The Kerzner Triangle displays three main constraints under which a project is done. They are cost, time and performance. If there is any change in any of the constraints, then the
The fourth step in the strategic process will include the implementation of strategies by forming projects. “The conceptual framework for strategy implementation lacks the structure and discipline found in strategy formulation. Implementation requires action and completing tasks” (Gray, Larson, 2008).
Step 1: Identify the unit for which a Project strategy is being developed. Understand the business statergy and the priorities and objectives.
Step #2 - Identify the Customer(s) for your product or service, and determine what they consider important i.e. Customer Requirements
There are several steps to strategic plan. Interviews should be conducted with stakeholders to develop action plan. An environmental scan should be performed. A review of the history of the organizations structure, resources, strengths, and weaknesses should be evaluated as well as their major competitors. The organization should find opportunities expand their market. Finally, a strategy needs to be developed for the organization to compete in the marketplace (McDermott
What is project management? Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. (PMBOK 2004)
Projects are unique because it is a one-time operation designed to accomplish a set of objectives in a limited time frame. They all involve planning, preparation, and coordinating work that is to be done. Priorities must be set in order for the project to be accomplished. Project management techniques and software is necessary to maintain a schedule and budget performance. Project Management is the set of knowledge, skills, and abilities that plan, organize, implement, control, and complete projects given finite resources of people, equipment, and time.
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
Step 1: Plan the Workforce Function. Identify Work Functions, Identify the work functions that must be performed in order to accomplish in accordance with strategic plans.
Methodology is the function of selecting the objectives of the project and establishing the policies, procedures and programs necessary for achieving them. It involves planning for schedule development, budget development, project administration, leadership styles and conflict management. It is very important because project planning can eliminate or reduce uncertainty, improve efficiency of the operation, obtain a better understanding of the objective etc. The chapter will end with a questionnaire and analysis of the questionnaire.
In simple words project management is everything you need to manage a project from start to finish. According to the Project Management application of knowledge, skills, tools and techniques to project activities to meet project requirements. In other words the project manager must do whatever is required to make the project happen (Burke 2007). Sometimes in large scale projects a number of managers may cover many different operations and report to an overall project manager.
In the initial phase, our team accessed the requirements of the project that was going was to be developed and made the different plans for the execution of the project. The plans were different in nature according to the implementation required of the project. The emphasis was on choosing the right mix of technology and ease of implementation. The strategy formulation was based on the using the optimum skills and talent available with the team.
Overall strategy of these process would create structure strategy and for better policies. Our organization policies and help in promote project management. Making up the contextual issues before it project management and help in accomplishing a better reporting relationship. It is better reporting relationship, rules, procedure, help in govern and establish that make up project team. Strategic Management would be formulating, implementing and have better organization objectives.
Developing a project is not a easy process. There are many steps involved in it before the project gets developed. While developing a project we have to indentify the each and every goal in the project and how the these goals have to be achieved or in which order they have to be placed in order complete the project
Project management is a series of steps taken in sequence to manage a project through all phases from conception to completion. The steps are documented in a strategic plan. The plan is used to ensure that all parties are working towards a common goal. Project management requires applying knowledge, skills, tools and techniques to specific activities in accordance with established standards and guidelines. There are five basic functions of project management: planning, organizing, staffing, directing, and controlling. Basic activities of project management include: identifying project requirements to define the outcomes; addressing various needs, concerns and expectations of others; setting up, maintaining and carrying out communications; managing others; creating project deliverables; and balancing competing project constraints.
Initially starting with the firm’s organizational mission and its need to make necessary steps towards making strategies for its SBU to run smoothly with equal importance it gets on the basis of its output generation and few other aspects. A firm takes series of steps to make its strategies successful.