Successful Project Management : An Important Element Of Profitable Organizations

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

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.

Executive Summary Project management is the science of planning, organizing, executing, and managing the resources needed to achieve a specific goal. Effective project managers (PM) strategically facilitate the entire project management process to ensure the project’s success. To do this the PM must adequately meet the specific requirements (i.e., time, scope, quality, and cost) set forth by the project and its stakeholders. It is theorized that PM must possess a set of core competencies in order to successfully manage a project. Those competencies are development of project management knowledge areas, application of appropriate project management tools and techniques, understanding of the project

Project management provides reasonable scientific solutions in order to overcome difficulties and achieve success. Each project has a variety of objectives have to achieve, these objectives are vary and can be for organization objectives or for social objectives. However, the project objectives could face some obstacles could be lead to limited success. The attempt to discover the factors of project success and project failure was not easy task for both scholars and expertise. These definitions can provide a close understanding and explanation for these terms. Many project management literatures have variety definitions of project success. (Adinyira, 2012) pointed out that Pinto and Slevin (1988) defined the success as delivering projects on proper time, cost and quality. Others like westerveld, elizabith have different ideas regarding the success that are related to the judge of stakeholders and organizational management. However, nowadays success become more complex issue to determine, it is not only meeting the costs and time it is belonging to the typology and sector of the project

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

Bradford is an old city in the New England area that has been struggling with growth since the prosperous nineteenth century. We the developers find the struggling Bradford to actually be an ideal place to construct more buildings to bring life back to Bradford. Bradford has access to highways, air transportation, and costal transportation. These three transportation sources make Bradford seem like a great place for developers like us to build. We are being called upon to expand on an old mill building with the Randolph Square Building. The lease for this land entail access to 175,000 square feet of property. The Curry Corporation is the bank that is proposing the idea of the Randolph Square Building. Curry Corporation will have to help

The element of management that specifically associated with the management of the projects is known as Project Management. Inevitably, the stance of project management can be extremely productive and effective for the organizations in particular (Bolles D & Hubbard, 2007). Most of the organizations are now looking forward to consider New

When any organization undertakes a large-scale project, the first and most important component to ensure that the process runs smoothly and effectively is effective project management. Project management not only sets the tone for the overall project, but creates the plan and facilitates effective implementation. From the first meeting to plan the project to the last report written about the experience, project management is integral to project success.

The research on project management has been studied for decades. Many scholars and managers put great efforts into finding out what can influence project success. Through their continuing work and precious experiences, what factors dominate the success of projects is well documented in literature. The use of these guide texts can help project managers to deal with difficult tasks. Moreover, it is unanimous consensus that project critical success factors are necessary for management team to achieve project objectives and ensure success. If they are well considered and addressed, then it is more likely that a project would have more successful outcomes. On the other hand, if these factors are not rigorously taken into account,

The use of project management to accomplish any task for an organization is important. On time and at cost, project managers are valuable assets to an organization. “Most of the time a project manager is a project owner. He or she is responsible for the leadership of the project from inception to completion. The project manager leads the team and helps negotiate the multiple relationships within any project” (Carr, 2010). Having a project manager within an organization can have many benefits. A project manager can benefit an organization by identifying responsibilities, reducing the need for unnecessary reports, measuring the accomplishments against plans, and knowing when all objectives will be met or exceeded (Krezner, 2006).

Successful project management can provide outstanding value for an organisation particularly when the objectives of the project have been achieved. A large project can be complex in nature with its life cycle involving a number of facets including the initial concept, financing, design, construction and the operations, maintenance and refurbishment phases. This report will focus on the operations and maintenance (O&M) phase of a Sydney road tunnel, the Eastern Distributor.

To start with, project management could be defined as the process that companies need to carry off in order to maximise the shareholders ' value. On the other hand, in current life individuals sign projects all the time, of course not on a professional level, in a sense that they define objectives and work on the processes to benefit in their lives. Pritchard & Ashwood’s (2007) emphasize the individual’s ability to choose from alternative actions in order to satisfy their needs. It is important, however, to mention that effective projects have an effective design as well as an effective team.

Project management is not only useful in the working environment, but it could also become great skills that can be used for all life projects that we do through out our life.

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.