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Importance of project management in modern business
Project management in modern organization and society
Significance of project management in the contemporary business environment
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Recommended: Importance of project management in modern business
Reflections on Week One Outcomes - An Accidental Profession
In reflecting on this week’s reading, especially the article by Pinto and Kharbanda, the literature on project management has diagnosed the situation in the field with unerring accuracy. Capable project managers are on the future trend of the business world. As the global economy becomes more diverse and complex, it will requires specialized skills – in leadership and management – to handle the complexities of organizational requirements (Meredith, 2009). This is a decided change from the past treatment of project management in the business world.
As our authors note, most project managers come to the title “accidently.” My association with organizations has shown any individual with strong management skills and a stake in the successful completion of the project can be designated a “project manager.” In turn, it was their responsibility to fulfill their regular duties while heading a “committee” of participants charged with completion of an endeavor defined by management as a positive change to the course of the organization or specific product.
Pinto and Kharbanda confirm this when they state, “few formal or systematic programs exist for selecting or training project managers” (Pinto, 1995). The field is “neither well-defined nor well-understood” so people do not aspire or seek the academic or experiential background to qualify as project managers. This leads to a “sink-or-swim” mentality for individuals place in this position, rather than recognition by management that project management is both a “human and technical” challenge.
In education, individual with convincing academic credentialing enlist, or become drafted as Subject Matter Experts or SMEs. ...
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... complex products and processes” involved with global business. However, organizations are now recognizing they also need individuals with “cross-functional” expertise and a deep understanding of the stakeholders – both interior and exterior to the group – who affect the success of the project (Meredith, 2009). It will be fascinating to see - and be part of - how this strategic and necessary skill-set evolves as an essential, for success in the twenty-first century.
References:
Jutte, B. (2008). 10 Golden rules of project risk management. Retrieved March 10, 2011, from Project Future: http://www.projectfuture.net/10_golden_rules_project_risk_management.pdf
Meredith, J. M. (2009). Project Management A Managerial Approach. Hoboken, NJ: John Wiley & Sons, Inc.
Pinto, J. &. (1995). Lesons for an Accidental Porject Profession. Business Horizons .
Hillson, D. & Simon, P., (2012). Practical Project Risk Management, The ATOM Methodology: Second Edition. Vienna, VA: Management Concept Press
Crawford (2000) suggests that project leadership is the highest ranking category among project management competence factors. Project management leadership style affects overall project performance. Recent research supports the idea that successful projects are led by individuals who possess not only a blend of technical and management knowledge, but also leadership skills that are internally compatible with the motivation of the project team (Slevin and Pinto, 1988; Turner et al., 1998). Zimmerer and Yasin (1998) found that positive leadership contributed almost 76% to the success of projects. Negative or poor leadership contributed 67% to the failure of projects. Project leaders need both, relationships and task oriented leadership styles, to cope with the challenges within different phases of project (Slevin and Pinto, 1991). In projects, project leaders must lead their teams towards completing defined goals with in a fixed time scale. Verma (1997) states “Achieving the goal or final aim is the ultimate test of leadership”. Goals and tasks are achieved through people thus making people an important resource for
Kerzner, H. (2013). Project Management: A Systems Approach to Planning, Scheduling and Controlling. Hoboken, NJ: Wiley.
Graham, R. J. & Randall, L., Creating an Environment for Successful Projects: The Quests to Manage Project Management, second ed. San Francisco: Jossey-Bass, 65-113, 2003.
Project management is known as the discipline of planning, organizing, motivating, and controlling resources to achieve specific goals. In the diagram to the left in the picture you can see that as a project manager you are the center of either a great accomplishment or a major failure. Some of the major factors to being a successful project manager would be a person that is a great manage several projects or responsibilities and scope issues on an every day basis. If you have a pr...
Hillson, D, & Simon, P. (2012). Practical project risk management: The ATOM methodology (2nd ed.). Vienna, VA.: Management Concepts.
Gray, C., Larson, E. (2008). Project Management: The managerial Process. New York, NY: The McGraw-Hill Companies Inc.
Kezner, H. Project Management: A Systems Approach to Planning, Scheduling, and Controlling. 6th. New York: John Wiley and Sons, Inc, 1998. Print.
Project Management Institute . (2008). A Guide to the Project Management body Of Knowledge. Newton Square, PA: Project Management Institute, Inc.
Risk management is among the most important practices in the field of project management. A successful project completion and risk management often go side by side. An interesting aspect of project management is that a project can sti...
Project Management Institute (PMI) (2013). Project Management Professional (PMP) Handbook. [ONLINE] Available at: http://www.pmi.org/certification/~/media/pdf/certifications/pdc_pmphandbook.ashx. [Last Accessed 20 April 2014].
In the globalized economy, Successful project managers are in much demand across many industries. Organizations strongly need experienced project managers to lead their staff to accomplish their business goals and deliver successful projects. In an increasingly complex environment, project managers need to turn into many roles and have all kinds of responsibilities at each level of management within an organization. Good project managers are not born. They need to be trained. They develop their skills through study, practise and experience. They become better project managers after they finish a successful project each time. They learn new techniques and apply them on their projects. They learn their lessons from failed projects and then improve to be better project managers in the future.
Over the course of my professional life, I have become increasingly involved in project management roles. Doing so has made me aware of the many varied challenges that can face projects and the project managers who are charged with bringing them through to completion. The success or failure of projects, in whatever economic, political or social field, rests not just on the quality of the project’s goals, but also on the abilities of those involved in the project – and above all those who are managing it – to bring it to successful completion. To do this, project managers need to be equipped with a very wide range of skills, many of which are unrelated to the type of project itself. So, for example, a project manager of an engineering project must not only have engineering
Project management involves all activities that encompass scheduling, planning, and controlling projects. A successful project manager ensure that an organization’s resources are being used both efficiently and effectively. Most projects need to be uniquely developed require a sense of customization and the ability to adapt to any posed challenges. The scope of effective project management includes defining what the project is and what is being expected to be accomplished. Projects are imposed to fulfill a certain need and project managers must have the ability to create the proper definition. Goals and the means used to attain those goals have to be clearly stated. Project Managers must also have the ability to plan
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.