The Principles Of Project Management

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

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.

As the world is chaotic (Djavanshir and Khorramshahgol, 2006) it is impossible to always predict the future accurately. Teller at al (2012) describes project management as balancing the “iron triangle”, where changes to any one of the planned costs, quality or scope will change the other elements. Risk management allows contingency to be put into project plans, (APM, 2012) minimising negative effects and maximising the benefits of uncertainty.

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.

Project Management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements (Project Management Institute, 2008; Gordwin, 2012). When applying this knowledge effective management of appropriate processes is required. Risk Management is considered most critical and includes the processes of conducting risk management planning, identification, analysis, response planning, and monitoring and control on a project. The purpose of the risk management plan is to establish framework in which the project team will identify risks and develop mitigation strategies to avoid, eliminate or convert to

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

Project management is accomplished through the application and integration of the project management process groups: initiating, planning, executing, monitoring and controlling, and closing.”(Ambriz, 2010). This clearly represents the foundation of what has come to be known as traditional project management (TPM), upon which other techniques were developed. Thus we may also define TPM based on the original rigid

According to the Project Management Institute (PMI), the world’s leading association for project management, it is the application of knowledge, skills, and techniques to execute IT projects effectively and efficiently. A well-planned and executed project, that meets its goals, timeline, and budget, is a strategic competency for organizations, enabling them to tie IT project results to business goals — and thus, better compete in their markets.

As project management struggles to gain ground with these difficult hurdles, there are many more problems that await them in the future. With the changing technology there is more pressure from upper

When considering project management and the project life cycle, the process of identifying risks that could have a positive or negative effect on the outcome of a particular project should be considered. All project managers and project teams need to have a good understanding and knowledge of these possible risks in order to plan ahead and increase the chance of project success. This paper discusses the process of risk identification, evaluation, and management in a project and demonstrates why this process is needed to help ensure project success measures such as budget limits, deadlines, and stakeholder satisfaction are achieved.

To control the process of a project and manage the operation of a project, the theory of project management life cycle is widely used in nowadays business administration. Treating the whole time dimension of the project as a life cycle, project management life cycle separates the project to some steps and uses checkpoint, milestone and base line to control the operation of the project. This article will be a general introduction of project management life cycle theory and will use an example to show the practice of project management life cycle in a real business project.

Key among the project manager’s obligations is the acknowledgment that hazard specifically affects the probability of achievement and this danger must be both formally and casually measured all through the lifetime of the project in question. Risks inherent to the project emerge from vulnerability of the project. As such, a successful project manager is the person who concentrates on this as their essential concern. The greater parts of the issues that affect a project result in somehow from another risk.

Project planning can be an effective risk management tool as (Zwikael & Sadeh, 2007) labelled that “In order to increase the chance of project success, project managers are motivated to reduce risks by implementing better

The objective of this white paper is to provide Project Managers with some guidance, and to offer an outline of

During the project life-cycle, project managers are responsible for oversight of such tasks or processes as work breakdown structure, critical path methods (calculation of all the activities from start to finish to determine the duration of the project), resource smoothing, earned value, and configuration control (Burke, 2001). Many organizations are turning to management-by-projects approach because it provides flexibility, decentralized management responsibility, a more holistic or global way of conceptualizing problems and solutions, and problem