• Project Management 5th Edition: the Managerial Process / Erik W. Larson, Clifford F. Gary. Copyright 2011.

Discuss the principal reasons why project management has become such a popular business tool in recent years. (Objective 1.1)

Projects management is an important management tool to implement strategy and achieve an organization’s strategic goals. Organizations are using projects to adapt to changes in the competitive environment including increasing cost pressures, scarce available resources, global competition, new technologies and a race to get products to customers first (Hyvari, 2006). Projects deliver the most benefit when they are directly linked to corporate strategy (Crawford, 2006; Srivannaboon, 2006). (Brad McManus and Ron Cacioppe “Feature Article: An Integral Approach to Project Management.”)

Three factors define the success of any project; these are time, cost, and quality (Wysocki and RK 2013: 4). This paper identifies three main facets of project management that were inappropriately implemented, namely; Resourcing, Stakeholder Management, and Risk Management and how their improper implementation led to the violation of the three constraints (i.e. time, cost, and quality).

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.

In the current business environment, the demand for project managers is ever growing. In short, project management is a provisional project constrained by time, cost and scope (A guide to the project management body of knowledge, 2013). Between the immense organization, optimization, and communication assets skilled project management brings to a project, it is easy to see why project management is a booming field of study. Furthermore, project management can be both financially and personally rewarding when long term milestones and goals come to fruition.

Projects are used today as a way of achieving a variety of outcomes in local or international locations for new constructions, new product development, product improvement, process design, process improvement, utility installation, theory and technology development, and many more. Bringing a project to a successful conclusion requires the integration of numerous management functions like controlling, directing, team building, communication and others. It also requires cost and schedule management, technical and risk management, conflict and stakeholder 's management, and life cycle management.

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.

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 definition of a project is “a temporary endeavour undertaken to create a unique product or service. Temporary means every project has a definite beginning and an end. Unique means that the product or service is different in some distinguishing way from all other products or services”.(Project Management Institute., 2008)

Define a project. What are the characteristics which help differentiate projects from other functions carried out in the daily operations of the organization?

At first should the terminology be defined. A project is "a unique set of coordinated activities, with a definite start and finishing point, undertaken by an individual or organisation to meet specific objectives within

Project management is an essential part of businesses and industries in order to advance ahead and add value to products. Project management enables companies to innovate, plan strategically, and for the economy to progress. The important parts of projects are often values such as team working, planning, innovation, time and budget management, and leadership. In the modern society, some projects can be pharmaceuticals (inventing new drugs), IT solutions (new technologies), energy and environment (other sources of energy such as solar), and military (new weapons and machines). The similarities are such that these projects are undertaken to improve the lives of

The purpose of this paper is to recommend that Project Management is a concept that focuses on the dynamic characteristics of a multi-facetted organization. In such a changing situation, effective communication is a characteristic that should be stressed and becomes the most important tool for the project manager and team members.

Interest in project management has grown considerably over the last few decades, within academics and practitioners, identically, demonstrating an enthusiasm in this field. The approach toward project-oriented organizational design is becoming more common nowadays, with even the most operation-based organizations preferring to define projects to better plan, execute,

A project is a unique in that it is not a routine/daily operation/activity of an entity, but a specific set of operations/activities designed to accomplish a unique goal. A project team often includes people who don’t usually work together – sometimes from different organizations and across multiple geographies.