Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Poor risk management is one of the most common projects management challenges
Poor risk management is one of the most common projects management challenges
Poor risk management is one of the most common projects management challenges
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Memo Date: May 15th, 2014 To: Professor Karen Rainford From: Nancy Lema, Project Manager at NVL Consultant Purpose The purpose of this proposal is to request authorization to investigate the problem of scope creep within your organization, a common issue that arises within companies conducting projects. The goal of the research is to identify the risks scope creep poses and how it affects the outcome of projects. Project Overview In any given project, a very common reason for projects failure is the poor scope management and control. Scope creep is the current leading cause of project failure globally according to the 2010 Global Survey; top 10 obstacles to project success. Scope creep usually comes about when features are changed or added to a project, and this could prove detrimental to a project in terms of budget increment or project failure. The following proposal outlines the problem of scope creep, a summary of my initial research, the research tasks, and an estimate schedule if this research proposal is approved. Problem discussion GGM Group Inc is a software company that deals with design and implementation projects. Over the last five years, the company has experienced a decrease in revenue due to the lack of contracts from vendors. The reason for this freeze resulted from the company’s inability to take on more projects and meet up with promised deliverables as scheduled. It appears the company was spending more than the required time on projects because of scope creep. Scope creep refers to scope change which happens slowly and unofficially, without changing due dates or otherwise making adjustments to the budget while conducting projects. These conditions though not specified within the original scope needs ... ... middle of paper ... ...esearch methods for handling scope creep After conducting extensive research and speaking with the senior project manager, I will be able to narrow my research and determine the best ways to handle scope creep during a project. This will be done by completely a second round of research, specifically gathering details about ways to prevent scope creep. Task 5: Submit progress report for this problem investigation I will submit a progress report for this investigation paper. It will provide you with the progress information for my research and the analysis based on my research. I will use feedback from this to finalize my research paper. Task 6: Analysis the findings and complete the research paper The completed paper will provide the research finding in regards to scope creep and suggestions for effectively managing them in order to have a successful project.
Winch, G.M. (2013): 'Escalation in Major Projects: Lessons from the Channel Fixed Link', International Journal of Project Management, 31: 724-34
In chapter 9, Michael C.Thomsett describes the procedure of conducting the project review. He said, “The role of the manager is to keep your team working toward the final deadline, within the budget, and in the line with the goals of the project and on a broader field to produce the result of the highest possible quality and accuracy.”
Projects are widely used by many organizations and government institutions in the course of conducting their business. One of the reasons for this is because they have been proven to be effective in initiating change and translating strategic programs into daily activities. However, it has been established that most projects fail to deliver on time, budget, and customer specifications. In most cases, this failure is caused by over-optimism by the project management team. This over-optimism commonly referred to as optimism bias can simply be defined as overestimating the projects benefits and conversely underestimating its cost and duration time. Research have portrayed that this is often caused by failure to properly identify, understand, and manage effectively the risk associated with the project therefore putting its success at jeopardy(Mott McDonald, 2002). Fortunately, this biasness can be detected and minimized during the project gateway process.
In every project there are always some universal characteristics that will be shared. They all have a comprehensible and established purpose and very distinct life durations. Overall, all projects are doing something that may possibly be new or yet a one time endeavor but have explicit requirements which include; time, price, and performan...
Defining a proper scope of a project is the basic layout, on which everything goes out then, if you lay out a good sound scope and define your processes up to the extension then only it will be easier to work on simpler tasks.
The different stages of the project lifecycle are clearly spelt out in the WBS, allowing management to precisely identify which components are causing cost or schedule overruns and to more effectively mitigate the root cause of the overruns; USDOE (2012, p. 5) and provide specific insights into the relationship among scope, schedule, budget, and performance (p. 7).
In order to reduce the possibility of scope creep, a project management needs to implement a stringent Change Management process once the scope has been agreed by all parties. Any changes to the scope must be investigated for potential impact – negative or positive – on the overall cost, quality or timeline. Any change to one of these elements, traditionally called the iron triangle or the triple constraint of project management, will impact the other areas.
Note: Reprinted from " Project Management Institute”, A guide to the project management body of knowledge, Copyright 2013 by Project Management Institute, Inc. Reprinted without permission.
Project Management Critical Success Factors defining project success poses another challenge in understanding project management and accordingly assessing its performance. It is generally accepted however, that the success of a project can be well-defined through the convergence of, the ability of the process to meet the technical goals of the project while not deviating from the three constraints of scope, time and cost; the usefulness of the project as perceived by project team, sponsors and beneficiaries; and the performance of the project (Kerzner, 1992, 2001, 2003). Hence, project success or failure can only be effectively measured at the completion of the
Geraldi, J., Maylor, H., & Williams, T. (2011). Now, let's make it really complex (complicated): A systematic review of the complexities of projects. International Journal of Operations & Production Management, 31(9), 966-990.
A project life cycle “measures the work that goes into a project from” the start of the project to the end of the project (Taylor, 2016, para. 3). There are four phases of the project life cycle, and those phases are initiation, planning, implementation, and closure. The initiation phase of the project life cycle involves creating goals and business cases, once that is done, resources can be assigned. The planning phase of the project life cycle consists of solutions being researched in order to reach the goals of the project and to create a timeline as well as a plan so that the project can be completed. During the implementation phase of the project life cycle, all the steps of the project plan are followed and are adjusted as needed.
A natural termination of a project happens when the project’s goals are met. An unnatural termination can happen anytime during a project, regardless of the project meeting its set goals. The unnatural termination of a project can happen because of a breakdown in client/vendor relationships, a change in customer needs or due to lack of sufficient funds for the project. Highly successful projects can be termi...
The project scope statement identified in the initiation phase, serves as the main input when estimating the time and duration for a project. Concerning TM it is important to allocate appropriate time to the projects scope, project duration so that cost overruns can be avoided together with penalty clauses and reputation damage.
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.
Often, the goals and visions of the projects are not clearly discussed. The project management team doesn’t understand the needs of the organization.