Project Management Best Practices And Essential For Organizational Success

The Global Infrastructure Group, a subsidiary of the Global Financial Corporation, is an international conglomerate specializing in developing technologies and solutions for the Global Financial Corporation. This proposal for the Global Infrastructure Group will advise on what requirements the organization can best implement for a comprehensive project management system that can be used in a global organization that has small-, medium-, and large-scale projects. This proposal will

A paper submitted in partial fulfillment of MMIS 621: Information Systems Project Management course requirements

Organizations leaders are facing difficult challenges because of the rapid changes in government and technology, which has created pressure in organizations. The aforementioned changes have made way for a new type of management; project management, far different from the traditional structure for managing. This document will describe the definition of a project. The paper will also touch basis on the basic phases of the project life cycle and their purposes, and why it is important for organizations to use project management to accomplish tasks.

In reviewing a number of websites trying to garner support of IT Project Management, a rather clear picture has been presented. A staggering number of organizations do not properly employ IT project management, and, as a result, their projects tend to fail. On the opposite end of the spectrum, successful organizations utilize an IT project management system and their projects enjoy a much higher success rate.

Project management refers to the process of monitoring, planning and controlling a distinct set of tasks that have a discrete end, beginning and result. The process of project managements is carried out within three important constraints of scope, costs and time (Meredith & Mantel, 2012). The purpose of the project management is producing a product that is technically acceptable that is within and on time the budget. To attain this, project managers tries to reduce the risks linked to the project and maximum the benefits, including marketability and profit. There is a wide array of techniques and tools that are used for the purpose of helping the project managers especially in controlling and monitoring the projects.

NTCP Model is closely related to PMBOK principles of project management, it incorporates the basic belief and put forward a framework for addressing risk and uncertainties within project management domain. This model has been formulated by undertaking serious research involving multiple dimensions. Henceforth, the model presents a solid framework to understand basic project elements and map them accordingly to understand what type of methodologies and skill set will be required by the project manager to effectively manage the project meet its outcome objectives. Using the clear approach provided by NTCP model towards dealing with risk or uncertainty makes the model very effective. Furthermore, key element is that model can

Projects are vital for business. Successful completion of a project determines the survival of the organization. Increasing number of organizations have recognized that to be successful they need to utilize modern project management techniques. Individuals are also realizing that to be competitive in the work environment they must develop project management skills. Hence the profession of project management is growing rapidly.

Today’s world is a complex web of connections and interdependencies. This complexity has also found its way on projects and management has had to respond to these new challenges by developing new approaches to project management and team leadership.

In adding up to the definition by Project Management Institute which was submitted at the beginning of this proposal, a substantial numbers of experts have defined project management. Kerzner (2009) stated that project management is the application of knowledge, expertise and skills, and the best technical way with limited resources in the company to achieve specific targets in order to achieve optimum results in terms of performance, time, quality and safety. Based on this perspective, it is found that project management is a set of practical understanding and skills which project managers need in accomplishing their project in organizations for satisfying result, Nicholas and Steyn (2012). However, the application of project management

The key to prosperous project management is to anticipate the needs and problems of customers and to set accurate and realistic expectations through customer education and communication tactics. “Project management software can help make your business process more efficient and effective”. (Lim, 2012) It takes the guess work out of project management; everything is at your fingertips no matter where you, your team or your customers are located. Utilizing common features like budgeting and costs, document, and collaboration management will allow you to stay on track, on budget and evaluate any risk factors and manage the risk accordingly.

Implementing project management across the organizations helps create a strategic value chain that gives companies an edge on their competitors, particularly in high-risk sectors and markets (PMI, 2014). Changing applications and business environments for project management have pushed the boundaries of the required knowledge and skills beyond what has been the more traditional focus on the technical and administrative procedures and systems associated with project management (Clarke, 2010).

Project management is a really attractive profession for those who are serious about career in the line.

Over the past decades, an ability and capability to organize project management could determine the success of an organization. Generally, project managers use formal project management methodology to run projects efficiently. This article describes the explanation of the differences between PMBOK and PRINCE2, the advantages and disadvantages of those models, and the example of a project which use PMBOK methodology.

Although projects can be found dating back hundreds and thousands of years, project management has become a buzzword in the modern business world. Improved technology has allowed and enabled a vast increase in the number of projects to be completed in the workplace. Projects that would once have taken months to complete now take weeks, and new projects follow on their heels. The latest software makes tracking multiple projects easier, and training courses in project management demonstrate new tricks of the trade. The booming economy of the late 1990s made it feasible, from an economic standpoint, for companies to engage in more new endeavors than ever before. New products, new locations, and enhanced services were all the byproducts of the increase in projects.

The need to realize big and complex projects dates backs to the early years of civilization and is at the source of necessity to think Projects. Project Management (PM) is now a separate discipline that is adopted by various fields. The usage of the PM continues to grow rapidly by as much as 20 percent per year. The project management institute, for instance, the professional association of the project management increased its world-wide membership to over 70,000. The need for the efficient and effective management is widely recognized (O’Sheedy, 2012). Therefore, the field of project management theory and practice has taken tremendous strides forward in the past few decades (Demeulemeester & Herroelen, 2002: 20-21). PM has gone through the long