Introduction In contemporary business and science a project is defined as a collaborative enterprise, involving research or design that is carefully planned to achieve a particular aim. When we decide to implement a project, or for that matter, when we decide to do anything in life, whether it is going somewhere, doing something, building something or achieving something, we need to ask ourselves a number of different questions in order to carry out what we are hoping to do, some of these questions may include; What are we trying to do? When will we start? What do we need? Can we do it alone, or do we need help? How long will it take? How much will it cost? These are the usual questions asked at the start of any project, and the answers are the building blocks of project management - defining what we want to do and working out the best way we can do it. When carrying out a project it is important for the project manager to decide on a method of undertaking the project. There are a large number of different methods that can be adopted, these are called project methodologies, they can be used to assist in the success of a project, the chosen methodology will determine how the project is initiated and also executed until completion. Methodologies Depending on the type and scale of project in hand, different methodologies will be more efficient to use than others, no methodology can fit one purpose so it is important to analyze all possible methodologies to ensure the right one is implemented for the project in hand to get the best result. There are a number of methodologies that are worth considering, these will be analyzed and the most appropriate one will be chosen; Agile Management- This methodology relies on empowering your ... ... middle of paper ... ...proving and the methodology can assist in improving these parts greatly in the long run. As PRINCE2 is so flexible these changes can be made as the project is being run, but this can also cause implications as the schedule of the project can over run due to this but PRINCE2 can offer solutions to minimize the impact on the project. PRINCE2 does hold great disadvantages as it is not as flexible as some of the more modern methodologies but this would only be a great concern in project management needs such as software development but not in construction which this project would be concerned. It simply offers an organized method of managing a project, helping to identify who should be involved in the project and what they will be responsible for, and provides a clear set of processes that the project should follow in order for it to be successful if followed correctly.
The initiation phase of a project is not complete without a clearly defined goal and realistic, measurable objectives that describe the business benefits which are expected to be delivered upon completion of a project (Laureate Educatio...
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
Project Management is a concept of making the project successful through knowledge, processes, methods and experience. Every project is unique since it needs the same mythology of the methods but the circumstances are always different. The success rate of a project can be derived from the output it produces, outcomes or benefits, according to a criteria within agreed budget and timescale.
Based on Boyce (2003) a project is a certain type of service which gathers different products together in order to active an inclusive
A project is a temporary endeavour undertaken to create a unique product or service. They are goal oriented, have a definite start and finish time, must be done within cost, schedule and quality parameters. Projects involve the coordinated undertaking of interrelated activities (Project Management: Achieving Competitive Advantage). According to Tom Peters, “Projects, rather than repetitive tasks, are now the basis for most value-added in business”. Based on this, it is clear that projects are of utmost importance to businesses in both the service and the manufacturing industries.
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
“Our plans miscarry because they have no aim. When a man does not know what harbor he is making for, no wind is the right wind” a famous quote about our goal by Seneca. It is a metaphor about the achievement goal and objectives by good planning skills. One has to plan for what one wants to achieve and where one wants to go. One of the most important things is to have good planning, before taking any project the first think you should do is to create project plan. Planning can be defined as preparing a sequence of action to achieve specific goals and objectives. According to Kerzner (2009), “project planning is desirable that the project manager is involved from project conception through execution. It must be systematic, flexible to handle, closely disciplined through reviews and control and capable of accepting multi functional inputs (pg. 412)”. The importance of planning a project is to describe the work so that it will be easily identifiable to the project team member.
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.
Every methodology has pros and cons, wherefore we have to compare various of methodologies and select one of the best and suitable for the particular project. According to the information that we have gathered from the Lotuskrish and come out with a methodology to be used in the project.
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
PRINCE2 works with a large portion of the procedures which help for the usage of project management in a win full manner. There are fundamentally three sorts of procedures which are utilized for the advancement of the of project
The first and most crucial step is to create a solid plan. Plan should include the techniques, tools and data that are going to used in the project. The responsibilities of all the members should be distributed at this step. The utilization of resources and budgeting of the project should be done here. Management tools such as probability and Impact Matrix, FMEA are useful at this point.
In this chapter I will discuss about the methodology of this project. Several methods are used to determine the research objective. Methodology is a systematic way to solve a problem. It is a science of studying how research is to be carried out. Essentially, the procedures by which researchers go about their work of describing, explaining and predicting phenomena are called research methodology. It is also defined as the study of methods by which knowledge is gained. Its aim is to give the work plan of research. By understanding and using the appropriate methodology in developing the research, it will be easier to achieve or accomplish the system development objective.
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).