Project Management in Bangladesh

Project management with its concepts, theories, methodologies, tools and techniques has developed during the last 30 to 40 years. There are number of new methods of project management which have emerged in recent years, and also started to be used in various projects by both the private and public sectors. This paper identifies the concepts, theories, methodologies, tools and techniques of both traditional and modern project management approaches, then evaluates the differences between them. Furthermore, this paper evaluates if it is better to rigorously adhere to the traditionally accepted project management approach for both the private and public sectors. From the evaluation, it is concluded that the hypothesis which argues that both the private and public sectors must rigorously adhere to the traditionally accepted concepts, theories, methodologies, tools and techniques of project management in order to sustain a competitive advantage and deliver value for money through the successful delivery of projects is neither proven nor disproven. Both traditional

The paper is divided into three sections, the first of which will establish a timeline of events. This project background will serve as a case study for the analysis in the following section that will be structured such that each of the previously mentioned facets will be independently analyzed and contrasted with project management principles. Finally the paper will conclude with a summary of the analysis and recommendations based on

* Projects that impact the company’s regulator compliance such as effluent treatment (environment) and warehouse automation (safety).

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.

The PMI (project management institute) defines project management as “the application of knowledge, skills, tools and techniques to project activities to meet or exceed stakeholders’ needs and expectations from a project”. The APM (association for project management) defines project management as “the most efficient way of introducing a change” achieved by 1.) Defining what has to be accomplished in terms of time, cost and various technical quality performance parameters. 2.) Developing a plan to achieve these and then working the plan, ensuring that progress is maintained in line with these objectives. 3.) Using appropriate project management techniques and tools to plan, monitor and maintain progress. 4.) Employing skilled people in project management including a project manager as the single point of responsibility for introducing a change and accountable for its successful accomplishment. The construction industry is the largest industry on earth. It will be more of any service than a manufacturing industry. Growth of this industry in reality is the indicator with the economic conditions of any country.

The project management cycle has several guidelines that should be followed, for success to be achieved, and minimal disruption experienced. Project management cycles allows for the taking care of constituent processes that contribute to a large successful project. The recent organization where I have worked which will be considered is the Chase Bank. Banks are rolling out new departments so that they reach out as many clients as possible. The banks are also trying to minimize the risks that they encounter, and remain competitive when benchmarked against other industry players. The use of project management has also been expected to be beneficial in the evaluation of diversified banking products. The benefits conferred by the new products can be evaluated and assessed for the profitability that they have contributed to the organization, and projection of future profitability conducted. Just like other international banks, Chase Bank has branches globally that offer similar products, with minimal tweaks depending on the region.

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 case study analysis will show where fault and area for improvement. The project management fundamentals that are targeted are in the schedule, cost, conflict resolution, team management, communication with stakeholders, and resource allocation. The project success ultimately relies on the project manager ability to use all tools and techniques associated with a project 's progress.

Use an example of a project with which you are familiar with or are interested in. Identify the deliverables and organizational units (people) responsible.

▸ Most project sponsors would say that the most important output of any project is its deliverables ▸ Recall that deliverables are products or services produced or provided as part of a project ▸ For the Just-In-Time Training project at Global Construction, key deliverables include:

"Project Management Professionals, in the pursuit of their profession, affect the quality of life for all people in our society. Therefore, it is vital that Project

1.0 Project Integration Management …………………………………………………………………….. 3 2.0 Project Scope Management ……………………………………………………………………………... 4 3.0 Project Time Management ……………………………………………………………………………..… 4 4.0 Project Cost Management …………………………………………………………………………….….. 5 5.0 Project Quality Management ………………………………………………………………………….… 5 6.0 Project Human Resource Management

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 Boundaries of the project are measurable and auditable, and it is closely linked to project objectives. Defining Project boundaries should indentify the project ‘domains’ and provide a clear understanding of what belongs to the project and what doesn’t, for example, team, resources available, timeframes, departments involves, other projects involved, the area of the project and etc. Project Managers will then, have a clear definition of the project’ limits and a clear understanding of its interaction and relationship with other projects. (McDonnel 2010)