Project Management Best Practices And Essential For Organizational Success

1177 Words5 Pages
Project Management Best Practices
Regardless of a business size and type, or its product line and/or services, organizational structure and effective communication across all levels are key components of project management best practices and are essential for organizational success. One approach organizations can take to enhance its business practices is to adopt and implement a comprehensive project management system, capable of addressing organizational project requirements at various levels; small, medium and large scale projects. According to Diab (2012), project management systems are commonplace in large organizations and are rarely implemented in small and medium size companies. One could equally contend that even though the
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The purpose of this paper is to present a brief analysis of the GIG’s current operations, a summary of findings based on the analysis, and TLS’s proposal to enhance GIG’s project management best practices. The proposed recommendations will also address project requirements that are necessary for establishing a successful project management culture and a strategy on how the GIG can share best practices across the organization (CSU-Global, 2015a).
GIG - Background Information The GIG is a major business unit of the Global Finance Corporation (GFC), a large-scale global financial management organization. The GFC services include, but are not limited to, financial planning and investments, securities underwriting, banking, and providing insurance needs for various companies, as well as on an individual basis. As a result of the GFC’s wide range of services, the GIG was charged with the duty of developing a client support system to meet the demands of the GFC customers. This responsibility entailed identifying tangible and intangible solutions to address the numerous projects that GFC supports annually. The projects vary in size, value, and in the amount of time required to complete the activities. Furthermore, the GIG support tasks involved addressing a technology requirement and/or implementing a new company operational concept – in support of internal and external customers (Milosevic, Patanakul, & Srivannaboon, 2010). An
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