Project Governance

In this paper, I, a student of University of Phoenix will explain and discuss project management. I will address three main points. I will first answer what is a project. Secondly, I will discuss what are the basic phases of the project lifecycle and their purpose. Finally, I will explain why it 's important for organizations to use project management to accomplish tasks.

Prior to the onset of modern project management, the success criteria of a project lay solely on the technical success, or scope of the resulting product or service. Today, adherence to budget and schedule form a triangle of success factors alongside scope, with client satisfaction also developing as a key determinant of project success (Kerzner, 2004). However, the delivery of project scope will always take precedence over all other project factors, because if a project fails to deliver on its original intention, need or functionality, the project will always be considered as a failure. This essay will analyse the adequacy of the Guide to the Project Management Body of Knowledge’s (PMBOK) definition of Project Scope Management in relation

To ensure the project accountability is on schedule, within budget and stakeholder satisfaction a project chairman will be appointed. The project chairman will be responsible for leading meetings and making sure

need to be upgraded and the existing data will need to be transferred into the new

From “The Project” competition, I have learned that the project management field is an ever evolving industry of its own. “The Project” competition was able to bring together a professional organization, colleges, and business leaders to positively impact the project management field and the community Being able to put together a group of PMP Certified Mentors, was critical of the success and impact of this competition (PMI Western Michigan, 2012). By using a competition of pitching a fictitious project to business professionals, decisions on the projects determined by the business professionals were able to give unbiased feedback to the various pitched projects. By utilizing this unbiased feedback from PMP Certified industry professionals was a huge success for the Project Management field, its students, and the community. I believe that the projects

Since all projects have stakeholders, they plays important roles within the project. The first reason why the management of stakeholders is important for a project manager is that good stakeholder management may increase the perception of the total cost. During the stakeholder Management budget process, a good stakeholder would be qualified for distributing the fund into different phases reasonably and rationally. Predicting all possible risks and minimizing those problems would reduce the extra budget as well. When I was doing the Stakeholder management budget simulation process, I was failure to take enough care of the risk prediction which led me beyond my budget. Therefore, a good management of stakeholders is important for a project manager.

▸ ▸ List several tasks and outputs of project execution Discuss what is involved in directing and managing project execution as part of project integration management, including the importance of producing promised deliverables, implementing solutions to problems, evaluating work performance information, and requesting changes to a project Explain the importance of recommending corrective actions and updating project-related information as part of quality assurance

The project manager has almost total authority over the members of her team in the projectized structure. She makes assignments and directs team members’ task efforts; she controls the project budget; she conducts team members’ performance assessments and approves team members’ raises and bonuses; and she approves annual leave.

According to the Project Management Body of Knowledge (PMBOK) (2013), any individual that can or may impact, influence, or alter a project should be identified and have their interest documented. This is knowns as the identifying stakeholder method (PMBOK, 2013). When all stakeholders are acknowledged and their interest documented, they all must be managed continuously throughout the entire project cycle. Furthermore, a tailored process of engagement must be part of the management process to account for personality variances.

In order to achieve their business objective, project management and the used methodology are key factor which will be responsible for the success or failure of this project.

According to Rong,W. Liu K. and Sun L. (2009), they argue that projects success depends on who has the most power in the project and which kind of factors are his preference. (Rong,W. Liu K. and Sun L. , 2009) This is largely due to the fact that project success should take both stakeholders’ requirements and end users’ satisfaction. For an example, as a well-known project, Opera house was a failure, because it was seriously over-budget and behind-schedule. However, it is a landscape in Australia, and it is beneficial for Australian GDP via attracting millions tourists to visit. Thus, Opera house is definitely successful as a famous achievement of that project.

This essay will critically analyze the following statement: “The First step in making project management work must be a complete definition of the boundaries across which the project management must interact” (Kezner, 2009 p 381) by: detailing the importance of planning, the importance of defining boundaries, and

So the task of project governance is to form a decision making structure that is consistently governing an organization’s capital investments.

Governance and organizational structure are two matters that may be considered the pillar of every large scale project. Governance is the one process that gives a suitable framework for decision making and managerial action inside an organization that should be based on transparency, accountability and defined roles. In addition, it gives a plain distinction between ownership and task control. It helps setting limits for management acts by defining goals as well as the means by which they should be fulfilled. In the absence of a proper governance structure, organizations would take risks in terms of conflicts and inconsistencies between different means of reaching goals and therefore causing costly repercussions that impact negatively on the running of the project but also on the profitability. (Muller, 2009)

Description / Title Introduction Definitions and Salient Points Employer’s Background Project Background Project Context and Scope of Work Project Objectives Project Organization Project Complexity and Interfaces Project Risks Project Management Challenges Role and Responsibilities of the Project Manager Post-Project Appraisal Lessons Learnt