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benefit of project management
benefit of project management
project management theory
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Discuss issues affecting project management Problems always arises while working on projects. Therefore, it is important for both project manager and the team members need to know the awareness about the problems and need to respond to it. The main issues are as follows: • Effects of changing external factors One of the external factors is supplier bankruptcy which might take place in the stages of the lifecycle. If the suppliers do not deliver the goods on time, then this will have on effect on the project and the organisation as well. This might be because of transport and staff issues faced by the suppliers as they have less amount of staff or transport to deliver the goods. Also because of bad weather, the supplier company might not be able to deliver the goods on time. This will take time …show more content…
Therefore, corrective actions are needed to take by the manager when required. The project manager needs to ensure that he is dealing with the problems on time when they occur. For example, they should backup their work regularly in case they lose their work. Also, staff problem for backup might increase. So if there isn’t enough staff for backup the work, then there are possible chances of deadlines being missed. Therefore, the project manager might need to outsource external staffs on order to avoid those. • Communications As a project manager, you definitely need excellent communication skills with everyone. If there is lack of communication between the clients and the manager, then project would not work as the clients wanted. Due to the lack of efficiency will lead in failing the project. To counteract this, the manager can make reports and arrange meetings with the team members and senior managers to ensure that everyone knows what they are doing. This will help the manager to monitor what work is done correctly. • Working within relevant guidelines and
A problem that could occur is a lack of capital. A lack of capital means less projects can be pursued unless more capital is raised. If more capital is raised the cost of capital will also increase which will lead to the acceptability of some projects changing. The second problem that could occur is capital rationing. The capital budget may be limited due to not wanting to relinquish equity or a lack of skilled
...ure that their team stays motivated, and to be aware of the emotions of the individuals within the team. This, along with proper communication will allow the leader to address any questions or resolve any conflicts that may arise. Questions and conflicts are inevitable within any team. Although, conflicts and questions during the process of the project can become beneficial to the overall success of the team. The team can learn how to better communicate as well as how to ask better questions, ensuring future conflicts will stay to a minimum (module 5 lecture pages, n.d.).
The best project managers are those who consistently deliver, on time and within budget, projects that meet or exceed stakeholders ' expectations. (Levinson, 2008) Project Managers interact with different types of people at different levels within the organization and outside the organization. Since their responsibilities include directing and coordinating various resources throughout the life cycle of the project, it is important the Project Managers have certain characteristics to ensure project success. The main characteristics of a successful project manager include:
The project manager must work with the project team and the project sponsors to brainstorm on the planning of the project, determing deadlines, and identifiying risks. It is important to identifiy as many risks as possible in the early stages of the project planning, so that the risks can be analyzied, documented and help determine if the risk is too large to move forward with the project. It is critical that the risks are identified early to help ensure the impact can be minimized. The project manager working with the project team and project sponsors will ensure that risks are actively identified, analyzed, and managed throughout the life of the project. Risks will be identified as early as possible in the project so as to minimize their impact on the project.
Project managers are leaders of small and large groups destined to complete a strategic project plan. Leadership characteristics described above can make or break a team. In all successful project fulfillments, it is the leadership of the project manager that determines the type of success for the project’s members. The most...
“Project teams operate in global environments, and because they do, there are a host of issues that face project managers” (Chapman, 2008, week 1). Project teams are all over the world and face to face interaction is limited. Projects can be conducted via electronics; phone, web conferencing, instant messaging, fax, email and video conferencing. Communication, leadership and direct support from the executives are key factors in running a successful project. Clear roles need to be established by the PM based on individual member skills and understanding of the project goals.
The projects in today’s world are given a lot of importance and it will continue to grow in the coming years. There are a lot of companies which do not have production, but all of them do have projects. There are a lot of books which have been published on which related to planning and managing the projects. The one of the most important one was published by the author Eli Goldratt in his book ‘Critical chain’. This book basically talks and shows how the application of theory of constraints in the field of project management. The novel is basically based on one of the MBA classes in America where a number of ideas are developed in discussions among the students and the lecturers. The lecturer is basically fighting for a tenure with the president of the university who expects a downturn in the executive MBA. The lecturer who teaches project management has a word with one the senior colleagues and project management was the right topic to teach. There were three students who were placed in the project management team of their company which manufactures electronic products. The students are enrolled in this MBA class along with other students, here they discover a new approach to project management which is known as the
Another skill a project manager should have would be communication skills. Communication skills are actually important to everyone. This is how you communicate your ideas as well as communicating with the other team leaders as well as the higher ups. Political and Cultural Awareness is also a skill that is important to have as a project manager. It is important to become aware of the changes both politically and culturally.
Often, the goals and visions of the projects are not clearly discussed. The project management team doesn’t understand the needs of the organization.
The topic of my group (group 4) was “How to totally float through your project for free” and the presentation was held by Roger Goodman who works for PMI NZ and Ernst & Young supply chain management with many years of working experience in many different countries such as Saudi Arabia and China.
Project risk management is a necessary, and often overlooked, the function of a project manager. It combines the art and science of identifying, analyzing, and responding to risk throughout the project lifecycle, resulting in project improvements and ultimate success. Risk, at its core definition, is the possibility of loss or injury. What project risk management is not, however, is crisis management. Crisis management is the team’s response when a project’s risks are realized. Good risk management can help to overcome a potential crisis by proactively identifying risks. This paper will identify three possible risks to the team project, estimate the impact of risks in quantity and quality, select a method of risk management for the risks, preventions for the risks and what could be done to lessen the impact.
This result can make a project more challenging where the lack of skilled personnel will not be able to accomplish the task at hand. When there’s pressure to meet deadlines, the manager has to assure that tasks are completed within a certain timeframe. The ability not to adapt to pressure or change might be detrimental to a manager who has one style which can inhibit growth. Unfortunately, if a manager is one dimensional, this can lead to failure for a business since this person is not versatile in many areas (Contingency Approach…, 2015).
Communication is a crucial part of project management. Project managers should be able to communicate clearly, simply, effectively and frequently. As good communication skills are vital in comprehending what is expected by clients and help to convey that goal to the project team. Also it helps to receive essential information from the project team and take the corrective steps when in process.
In order to make sure the issues would not happen again in the future, there are actually several ways that we can take to avoid this. Thus, we think that employer as well as the employee should play their roles. Thus, the suggestion will be from two different perspective, which are from employer and employee perspective.
The importance of project management cannot be overstated. For starters it is important that project management provides a flexibility and structure. Project management creates flexible and well-structured business organizations by combining two organization needs perfectly. The organizational needs are determined by making the organization adaptable due to constant changes in the business, secondly organization is extremely important for creating structure. What is most important is that