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Project Management Paper University of Phoenix MGT/437 Project Management Paper Rapid growth of technology in the marketplace has companies examining ways in which businesses operate on a normal level. Managers face challenges with the task of adapting to a changing surroundings and a different breed of employees. Managers must implement a different approach that will allow them to become accustomed to situations that develop inside and outside of the company (Kerzner, 2006). Project management will assist managers in moving forward to reduce bureaucracy and launch flexible actions or tasks that will advance the company and the employees.
Project In order for managers to accept project management, understanding a project is taken into consideration. A project is a variety of actions or goals that include: a particular goal with explicit requirements, a starting and ending time, financial requirements, employees, and necessary equipment (Kerzner, 2006). Projects vary depending upon the type of business. For example, Ford Motor Company project is a new automobile called Fiesta that saves gas, whereas Dell has launched a new 10 inch laptop computer.
Both products are different but the companies must implement project management in order for the project to be successful. Project management involves planning and monitoring a company’s project. In order words, a project manager ultimate assignment is to identify the task and direct the project according to the plans set forth. Project planning occurs when a project manager defines work requirements, quantity and quality of work considered necessary, and inquire about resources needed to accomplish the task.
Monitoring a project occurs when a project manager keeps an eye on progress, contrast results to forecast outcome of project, analyze, and make necessary adjustments needed to complete the project (Kerzner, 2006). Project manager’s objective is to achieve a successful project by executing a task within a timely manner, budget, and performance level, make use of resources, and produce a product acceptable by consumers. Project managers are key elements of a successful product for a business.
According to Kerzner (2006) implementing project management would allow companies to identify functional responsibilities to make certain all task are accounted for, reduce reporting, identify scheduling, methodology for trade-off analysis, measure achievements against plans, and early detection of problems, improves future planning, and recognize potential failure and success. Project management intention is to enhance the use of current resources by task flowing horizontally as well as vertically inside a business. Project managers must administer project within the work flow of the company. Project life-cycle
The objective of most growing company is to expand profits by launching new products. In launching new products companies must understand the project lifecycle of a product. A project manager’s essential responsibility is to plan, integrate, and execute plans, or tasks. When a project manager fails to plan therefore, he or she will plan to have an unsuccessful project. Project planning normally starts with top executives and proceed to lower-level supervisor and line managers. Life-cycle phases of a product allow managers to have stages of activities to complete before advancing to the next level.
Another benefit of a life-cycle phase is to have power or control over the product stages. The basic phases of a project life-cycle includes: conceptual, planning, testing, implementation, and closure according to Kerzner (2006). Conceptual is the initial phase of a life-cycle and occurs when a company begins to brainstorm. A company will evaluate if the project is worth the risk, profitability, timeframe, and potential resources needed to perform the project. In order words, the company will decide if the project is feasible. The next phase is the planning phase.
Planning involves more detail information that was obtained from the conceptual phase. For example, if a company decides to purchase new equipment, therefore, the project manager will provide estimating cost from several vendors to purchase the equipment. The project manager will also include the cost of installation, timeframe to deliver equipment, shipping charge, and other additional cost involved in purchasing the equipment. Planning phase would involve detailed information before moving to the next level of testing. Once a project has been considered feasible and lanning has begun the next phase is to test or finalize the project. In this phase all cost of the project must be established, documentations, schedule of performance, and analysis reports are completed. Next, the implementation phase is put into action. Now back to the example of purchasing the new equipment, once management has moved from the conceptual phase to, planning phase and to the testing phase and implementation phase which the equipment is purchased from the selected vendor. Implementation is putting the project into motion. The final phase is the closure phase.
The closure phases examine the efforts of the complete life-cycle project and provide an input for the conceptual stage of the next project (Kerzner, 2006). For example, once the new equipment has been purchased and in place, the next project could be to add additional parts to the equipment. Therefore, the life-cycle of the new equipment has ended and the phases start over with the new project of ordering additional parts for the equipment. The closure phase allows the project manager to document the lessons from the project and prepare reports on project feedback analysis.
At the end of each life-cycle top level management meet and discuss the results of each phase, before moving to the next phase. Reports are recognized so the company can have control to ensure the project is on task for success and not failure. Project management is important to organizations to accomplish sought-after task. Project management will allow project managers to have control over projects. Project management will assist managers in saving time, resources, and performing a successful project or reject a failing project. If project management is embraced, it could be a vital part of achievement for the company.
Project managers must realize with advancing technology and evolving environment project management will help reduce bureaucracy and move the company forward and upward to its potential. Only project management can provide solutions for such a changing society and marketplace. References H. Kerzner (2006) Project Management, a System Approach to Planning, Scheduling and Controlling 9th ed. (University of Phoenix Custom Edition e-text) New York, NY: Retrieved November 13, 2009, from University of Phoenix, MGT/437 Project Management Course Web site.