What Is Project Management?

Project management (PM) system processes are essential for successful performance within an organization. ?Successful performance leads to customer delight, although insured, is totally possible through proper application and quantifiable control of project management processes?, (Akkiraju, n.d., p. 2). Project management involves components that PM mangers follow when preparing to enter into a venture. The PM use planning, hazard management, execution management, change

The Project Management Body of Knowledge (PMBOK) is a collection of processes and knowledge areas generally accepted as best practice within the project management discipline. PMBOK recognises 5 basic process groups and 9 knowledge areas typical of almost all projects. The basic concepts are applicable to projects, programs and operations. The five basic process groups are:

It is clear to see that throughout the project the tasks and progress were monitored very closely. The project is heavily dependent on the resources provided by its shareholders and in turn they rely on regular updates to reassure them on their investment. In the construction and building industry the methods and application of project management tools are very reliable and well tested. Therefore, it could benefit the project if the it was managed with detailed and defined practises and also follow standards set and agreed upon on a international level.

With the Sim4Project our team utilized a proper plan cost management, by employing certain procedures to control the project’s cost. The cost management influences the project manager’s decisions and project output. We used weekly meetings and strategic budget management to decide on which resources were valuable and which did not meet the criteria. Other factors impacted the cost management for sim4project such as organizing resource time and to what percent the resource contributed to the task. Although, for the majority of the project phases we were consistently at or slightly above the expected budget, allowing little room for error or overall risk (Kloppenborg 2012).

The term ‘project management’ is formed of two words and for the moment, will be broken down as such. The word ‘project’ is defined by Google as ‘an individual or collaborative enterprise that is carefully planned to achieve a particular aim’. ‘Management’, which is the second part of the term, is defined by Google as ‘the process of dealing with or controlling things or people’. So if these were combined, project management would be defined as ‘carefully planning an individual or collaborative enterprise that is carefully planned to achieve a particular aim while dealing with people and other circumstances’. While this definition is relatively accurate, it lacks detail and essential components which define project management as what it actually is. Therefore, the PMI (Project Management Institute) defines project management differently to this. The Project Management Institute definition is ‘is the application of knowledge, skills and techniques to execute projects effectively and efficiently’. This is highly accurate because it contains information of what a project manager’s role is rather than explaining what project management is in general which is, technically, not a

Part 1: Search the internet for the term "IT outsourcing". Find at least two articles that discuss outsourcing, whether beneficial or controversial. Summarize the articles and answer the following questions in a two to three page paper:

Question 1. What project selection method described in the chapter will ABI probably employ for this proposal? Answer According to the description, the project selection method is profitability of numeric model. We might see the points from the business strategy 1) Bid only on good margin products that have the potential for maintaining their margins over a long term. 2) Pursue only new products. 3) Utilize the most advanced technology in new projects. “ project champion” approach to innovation and creativity. no more than 480 employees. 4) Foster the

o If you are considering pursuing a career in project management, you should first find out what specific project job opportunities exist in your

The Project Logframe. 4 2.The Project Work Breakdown Structure. 8 3.The Project Cost Estimation. 9 4.The Project

According to A Guide to the Project Management Body of Knowledge (PMBOK® Guide), - Third Edition,

Evaluating cost baselines and developing and refining stable and flexible cost schedules can be tricky especially in the cases where complicated project based activities are involved. This is because each project may involve a number of factors, each having its own dynamics that have a potential to implicate on the overall cost structure and thus each of these variables and their possible implications have to be taken into account in order ensure the efficiency of the project in terms of both cost and time.

1. A Guide to the Project Management Body of Knowledge; PMBOK Guide. 2008 Fourth edition. United States of America. Project Management Institute, Inc.

Project management is a series of steps taken in sequence to manage a project through all phases from conception to completion. The steps are documented in a strategic plan. The plan is used to ensure that all parties are working towards a common goal. Project management requires applying knowledge, skills, tools and techniques to specific activities in accordance with established standards and guidelines. There are five basic functions of project management: planning, organizing, staffing, directing, and controlling. Basic activities of project management include: identifying project requirements to define the outcomes; addressing various needs, concerns and expectations of others; setting up, maintaining and carrying out communications; managing others; creating project deliverables; and balancing competing project constraints.

Reporting performance - Here you gather and disseminate performance information. This includes the status reports, progress measurement, and forecasting.

According to PMI (2013), Project management is the practical application of knowledge, skills, tools, and techniques to project activities in order to meet the project requirements. Prior to these basic practical applications that constitutes project management are what makes up an effective and efficient project manager in the delivery of a precise software project development plan towards successful project outcomes. A software project manager exhibits the qualities of a leader, such as planning and executing, motivational skills, reporting and communication skills, monitoring and control skills, and other basic attributes of a leader. These leadership qualities are enclosed with the practical ways that serves as the guiding principles of a software project manager. These principles include: