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Project management techniques
Project management techniques
Chapter 3 Project Management
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Critical Success Factors in IT Project Management
By Jianing Wu 300365997
Introduction
IT Project management is the method of planning, organizing and outlining responsibility to develop an organizations’ specific information technology (IT) goals. IT project management includes managing projects for software development, hardware installations, network upgrades, cloud computing, virtualization rollouts, business analytics, data management projects and implementing IT services (Rouse, 2015). However, not all of the IT project managers can finish their jobs as a preconceived way, and that leads to three key critical factors that can make the project’s success- clearly defined roles and responsibilities, risk management and process for
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Risk management is critical as it provides project managers with a forward-looking view of both the threats that could throw the project off and the opportunities to improve it. Risk management methods also provide project teams with a chance to engage the working community, such as project sponsors and users, who could control the risks that might threaten a project.
The US Census Bureau - field data collection automation is a failure case for lack of risk management. As the US decennial census is a big task which will cost a big amount of human and material resources. To minimize the total cost, the US Census Bureau decided to undertake a new way to do this job. However, the result was not as they excepted, the new technology turned out to be more complicated than anticipated. Lack of proper risk management on behalf of the Bureau and failure to establish effective communications with the suppliers resulted in a significant number of missing requirements. The failure of the project led to the Bureau having to ask for another addition three billion in funding to complete the work by using the existing standard
Hillson, D. & Simon, P., (2012). Practical Project Risk Management, The ATOM Methodology: Second Edition. Vienna, VA: Management Concept Press
Large and small businesses, governments, and schools strive to build the next new gadget, manage resources more efficiently, and teach or train in more creative ways. If they set out blindly on a task without proper oversight and thought about the process, then surely the result would be a dismal failure. Project management enables these entities, and various others, to carefully consider the many variables before, during, and after the project actually takes place. Project management refers to the careful planning, organization, and management through a single one-time activity. Projects are non-routine tasks that are set out to be accomplished for a specific amount of time (Trelles-Duckett & Lonergan , n.d.). Projects have an absolute
In all aspects, risk assessments should measure the risks and foretell the impact of the project. Project management utilize risk assessments in order to
Project success is critical to business performance and still many projects suffer from overruns, delays and failure. Each project is different and consists of risks. According to Morris and Hough (1987), project failure rate are high when one fail to consider and analyze project risks. As per Jiang & Klein (2001), the way project risks are managed has a direct effect on the project deliverables. Tzvi et al. (2002) suggested that there is no risk free project. Project risk management aims to maximize opportunities and minimize threats. This ensures achievements of project objectives. Hence, it is unlikely that a project will be successful without effective project risk management.
Sharma, D., Stone, M., & Ekinci, Y. (2009). IT governance and project management: A qualitative study. Journal of Database Marketing & Customer Strategy Management, 16(1), 29-50.
The project management plan will help the organization to manage all the foreseeable risks in a timely, proactive, effective, and appropriate manner. The aim of the project management process is to maximize the chances of the project achieving its objectives, while minimizing the risks and keeping them at an acceptable level. The scope and objective of the risk management plan are as follows:
Risk analysis is any activity that seeks to examine every identified risk so as to polish the description of that particular risk, isolate the various causes, ascertain the effects of such a risk as well as assist in devising possible mitigation measures (Lari, 2009). A change in either schedule, cost or performance can lead to consequences in the other factor. Analysis begins with a comprehensive study of those risks that have been recognized. The goal is to gather enough information possible future risks so as to know the basis of their existence, their chances and the consequences in the event that they were to occur. Risk assessment underlies (In addition, it is the project manager’s role to show the impact on the three constraints and thereafter create the necessary balance between them. Besides, the Iron Triangle is one of the best tools for discovering the priorities and motivation of the various stakeholders as well as how well the project is understood) discrete actions to identify and analyze the
Successfully managing any type of business or organization can be risky and challenging. While some potential risks can be quite costly and time consuming when it comes to needed repairs or damage control, others can literally destroy a business. Although risk is the main cause of uncertainty in any organization, a solid risk management plan can help minimize any damage should potential risks occur. There are six simple steps in the risk management process: identify your risks; analyze the risks; control the risks; monitor those risks; improve your risk management; and report progress.
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...
This essay will firstly discuss about the skills an effective IT project manager should have. Following this it will explain why these skills are useful to IT project managers. Subsequently it will identify the challenges unique to project management in the field of IT. Then it will present the analysis on whether leadership skills (as opposed to management skills) are really necessary for successful IT project management. On one
This paper will reflect on the different uses of Project Risk Management and ways in which it can benefit organizations to have the ability to identify potential problems prior to the problem occurring. Risk, this is not something to be taken lightly whilst dealing with matters that include high end projects meeting specific details, deadlines and expectations for the end client. Project risk management teaches one to be aggressive early on in the phases of planning and implementing the tools for a project. This is usually easier as costs are less and the turnaround time to solve the issues at that present moment is beneficial rather than later. The result in a successful project for one’s self and other key people involved in the process is also another requirement. Stakeholder satisfaction is important because the
The purpose of risk management is to protect an organization’s valuable assets information, hardware, and software. The purpose of risk management process is to identify and manage risks in such a way that a company is able to meet its strategic and financial targets. Risk management is a continuous process, by which the major risks are identified, listed and assessed, the key persons in charge of risk management are appointed and risks are prioritized according to an assessment scale in order to compare the effects and mutual significance of risks. It is very important that the organizations and business to be very well prepared to see what kind of risk we are facing, or the business can suffer in case of a major disaster.
Risk Management allows us to identify the problems which are unknown during the start of the project but may occurs later. Implementing an efficient risk management plan will ensure the better outcome of the project in terms of cost and time.
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.
“Project management is the application of knowledge, skills, tools, and techniques to organisational and project activities to achieve the aims of an organisation through projects” (PMI, 2003).