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Strengths and weaknesses of project planning
Project planning and organazing
Strengths and weaknesses of project planning
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Based on my experience working with many IT projects, it has a start date, uses a set of resources working on a planned interdepended task that are executed over a period of time within the allocated cost and time to accomplish the planned objectives of an organization. The outcome of the accomplishment can vary depending upon the organization from a specific product, service, or meet a legal or regulatory requirement. According to the Project management Institute (n, d), the project is a temporary endeavor undertaken by any organization to create its unique products, services or a result and defined as temporary in nature with a beginning, end in time, and therefore has a defined scope and resources. Further, a project is a unique set of operations …show more content…
Project management is accomplished by planning the project, controlling the project activities subject to resource and budget constraints, identify and mitigate the risk to keep the project on schedule. Microsoft project is one of the tools used for planning, monitoring the progress of the activity, track project status for communicating and reporting. The program Evaluation and Review Technique (SNHU, 2015), which considers probabilistic estimates for task durations, provides a graph and visual representation of the interrelationship and sequence of individual project activities to determine the expected project …show more content…
At a time, to meet the regulatory deadline, projects are de-scoped and the de-scoped objectives are added as a separate project initiative meant to be completed post-merger and close the merger and acquisition as a successful project. During one of the large M&A project, 2 larger financial institutes merged used big bang approach on the cutover day. Despite testing merger scenario of the entire portfolio several times, the increase in volume could not cope up with the transaction posting on time causing inconvenience to customer. Despite doubling the large system capacity to address the issue overnight, it lasted for few days causing brand reputation for next few months. Many lessons were learned during the failed project and the failure were attributed to the poorly thought through cutover strategy, missing to capture a key risk of the timing like mid-month versus month end/quarter end, identifying key risk involved with incremental rollout versus big bang approach and having test system same as the actual production
The book contains the most effective methods of completing a project within its budget, schedule, and the resource constraints. It briefly explains all the stage process of every major project goes through. From creating the plan to monitoring and evaluation, there is a lot for project managers and supervisors to learn.
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.
The project management helps to design the unique product or the service in order to achieve the goals and objectives. A project can be unique or temporary. The temporary project is the project in which the starting and ending time is defined and it has also defined the resources and scope. The unique project is the project which is different from the routine projects however it includes the unique set of operations that designed in order to achieve some goals. The team of the project includes the individuals that do not work together and this team is made in order to accomplish the goals of the project (Burke
This paper will examine three websites that I found to provide interesting information on one of the following topics: project management, project management careers, project portfolio management, and IT project management; as well as the Project Management Institute’s Web site. The four websites that will be examined are: CIO – Project Management Definition and Solutions, Project Management Certification, and Wisconsin School of Business – Project Portfolio Management.
Based on Boyce (2003) a project is a certain type of service which gathers different products together in order to active an inclusive
Atkinson (1999) in Project Management: cost, time and quality, two best guesses and a phenomenon, its time to accept other criteria, tries to define project management, and describes the criteria that guarantees project success. Many authors, association, etc. have defined project management differently. For example, “The British Standard for project manager defines project management as the planning, monitoring and control of all aspects of a project and the motivation of all those involved in it to achieve project objectives on time and to specified cost, quality, and performance” (Atkinson, 1999).
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.
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...
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.
Experience plays a major role in managing a project. The project manager needs to know the subject to some degree and have a good idea as to what types of resources are available to complete a project. A project manager also needs to have a good idea of what steps should happen to manage a project from start to finish. Experience is the only thing that can help really refine the process and to allow a process to come in most economically.
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
Project planning falls in the Planning Process Group which consists of those processes to establish the projects total scope, define the projects objectives, and courses of action to achieve those objectives. During the planning process, all the documents that are needed to carry the project through the project lifecycle will be developed such as the project management plan. Project management requires repeated feedback loops as additional information becomes available and is better understood. The planning process delineates the strategy, tactics, and path to successfully complete the project. With that, the planning of a project must walk through all the those processes from executing, monitoring and controlling through the closing process.
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).