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Project Management Paper 1 Project Management Joyce A. Jones MGT/437 September 22, 2010 John Haley, Instructor Project Management Paper 2 Project Management Paper In this paper I will attempt to explain the definition of a project, basic phases of a projects lifecycle and their purposes and the importance of organizations using project management in accomplishing tasks. Project Management Body of Knowledge (PMBOK) defines projects as “temporary endeavor undertaken to create a unique service, result, or a product. ” Projects definitely have a beginning and end time and are temporary.
The end of the project occurs when an objective of the project has been achieved or the project terminated because the need no longer exists or the project objectives cannot be met (Davidson Frame, p. 5 (1995). To ensure the completion of a project within its appointed times projects have start dates and end dates. Therefore, to show when tasks should begin and when they should end it is necessary to create schedules. Some projects can last for a period minutes, months, and hours, days, and weeks, or even years. Projects are unique meaning the product or service is new and never been done before.
For example: Hoover is in the business of manufacturing vacuum cleaners. Each new model of vacuum cleaner that Hoover redesigns, and manufacture is seen as a new project. The newer models will differ from older models in their features, performance, and possibly cost. Project Management Paper 3 When objectives and goals are accomplished the project is completed. A project could end when it is determined that the objectives and goals cannot be accomplished or when the service or product is no longer a need (Davidson Frame, (1995). The three basic requirements of a project are performance, time, and cost.
The five features of a project are people are usually involved (2) Uses specifically allocated resources to the work (3) Defines approach, beginning, schedule, and end (4) follows an organized and planned approach and (5) result have goals (cost and quality). What are the basic phases of the project lifecycle and their purposes? To achieve a project’s objectives and goals logical order is needed. The basic phases of a project lifecycle are initiation phase, planning, execution phase/controlling phase, close-out phase, and post-implementation phase.
Careful planning is a key component of all projects to ensure that deliverables are achieved in a timely, professional manner. Project managers dealing with today’s economy must ensure that every allocated resource is used in an efficient manner. During the initiation phase the timing and scope of the project are determined. Scope meaning all phases of the project must be Project Management Paper 4 accounted for or considered such as (time allotment and budget) and other items not mandatory to the success of the project must be excluded.
This must be done to stay on track with the budget, time, and the stakeholders expectations ((Lewis, 2010) The initiation phase is the risk phase of the project life cycle. The projects variables must be determined, if not and the wrong budget, timelines or resources are implemented it could throw the entire project off and risk discontinuance. The planning phase, which the detailed planning occurs and the tasks of completing the plans are set in action. This phase of the planning is about the creation of project plans to guide the team or team to successful completion.
The longest portions of a project life cycle are the execution phase/controlling phase. The execution and controlling phase of a project consumes the most amounts of resources. This phase shows the progress of the manager processes to ensure that time; risk, quality, change, and other concerns are addressed. This phase of the project also shows that physical deliverables are achieved and the project plans are met. The close-out phase is also referred to as the wrap-up phase. Formal closure of the project began to take place. Final
Project Management Paper 5 summarized reports are submitted to the stakeholders detailing the success and learned lessons of the project. The close-out phase also shows transfer of reports to stakeholders Customers, return of all equipment and the closure of human resources contracts. The last phase post-implementation phase is a phase that many companies choose to include or add to the project life cycle. Usually one to three months after a project is completed a post-implementation report is done to evaluate the success of the project (Lewis, 2010).
Project management is very important for any organization to use to accomplish task because most organizations suffer many of the following problems inaccurate estimates, conflicting priorities, inability to deal with skills of the staff, changing levels of work conditions and no project reporting. Through project management organizations have experienced better control, higher work morale, higher profit margins, lower cost, better customer relationships, and many other benefits.
With the positives comes some negative organizations have also experienced such as higher cost, low personnel utilization, management difficulties, and other problems. In today’s society the use of project managers continues to expand. In 1969 The Project Management Institute was Project Management Paper 6 created to develop the professionalism and growth of projects. In many businesses project management is recognized as a “career path” and a means to gain valuable knowledge and experience within the workplace. Although not problem-free project management is a good way to accomplish project goals.
Most projects will have a slow start, increase in speed, and then down near completion (Halloran, 2010). The project management main challenge would be to achieve all project objectives and goals while honoring project constraints (Phillips, 2003). The project constraints consist of time, scope, and budget. In conclusion planning, controlling and scheduling are involved in project management and are part of project activities to achieve performance, time objectives, and cost. The best way to ensure the success of an organization is to minimize the risk with better planning.
Project management is accepted in the business world today as a way of life. Project Management Paper 7 References: Carrie Lewis, The Key Phases in a Project Plan and How to Organize Them, (February 3, 2010) Halloran, Tim, Project Management Practical Advice for Thriving in Chaos J. Davidson Frame, Managing Projects in Organizations, Wiley, New York, New York p. 5 (1995). Joseph Phillips (2003). (PMP) Project Management Professional Study Guide: McGraw-Hill Professional, (2003). ISBN 0-07-223062-2 p. 354. Michael M. Gorman, Enterprise-Wide Project Management, Published: January 1, 2002