• Internal Code :
  • Subject Code : PROJ 6000
  • University : Laureate International Universities
  • Subject Name : Project Management 3

Project Management Knowledge

Table of Contents

Introduction

Project management knowledge gained from previous learning

Learning from additional resources

Description of project management practice

Competencies of team in project success or failure

Critical analysis of the way to improve the success rate

Conclusion

References

Introduction

Learning about project management knowledge has become essential in contemporary operations in any field. With the help of project management study, delivery of tasks in proper time can be effectively done. against the business opportunity, the real value is delivered. Along with this, the strategic goals of the clients can be effectively maintained and achieved with the help of project management strategies. For this reason, in the current assessment, I am analyzing the effectiveness of my current and previous project management studies as well as its importance in my future professional field.

Project Management Knowledge Gained from Previous Learning

In my previous learning, I have acquired several project management knowledge which could be applied in many professional and practical fields. One of the most significant aspects is the project selection method which is most aligned with prior goals, aims, and objectives of an organisation. It has been noticed, in any execution of the task, the set goal is essential and mandatory. For this reason, plotting the objectives and identifying the deliverables can enhance the project success rate. On the other hand, several factors like feasibility, profitability, client’s acceptance can be identified and evaluate after the project management outcome (Amjad et al. 2017). In the case of an IT project, the success of the project can be identified at the time of testing and trailing in the final process.

Therefore, the time of development needs to conduct in an effective way by effectively scheduling the project. On the other hand, I have also learnt about the method of project selection which has certain benefits. However, to effectively managing projects, it is important to use different project management tools. Thus, the use of benefit measurement (BM) has been identified in this context. Identification of milestones, assumptions, important deliverables, the requirement of resources, resource allocation, and others are identified. In this way, my understanding of project management has been developed effectively. Thus, plotting the goals and recognizing the expectations can improve the venture achievement rate.

Then again, various variables like a possibility, gainfulness, customer's acknowledgment can be recognized and assess after the venture the board result (Badewi, 2016). If there should be an occurrence of an IT anticipate, the achievement of the undertaking can be distinguished at the hour of testing and trailing in the conclusive procedure. Along these lines, the hour of advancement needs to direct successfully by booking the undertaking in a viable manner. Then again, I have additionally found out about the strategy for venture determination which has certain advantages.

Learning from Additional Resources

While studying project management, several additional studies have been conducted among which many of them provided additional information that I have acquired by managing knowledge. A significant strategy has been used by using various project techniques, applications, and relevance. On the other hand, I have also found that in the managerial approach, the concept of project management is used in a significant way. Most of the operations including IT are performed well with the help of the inclusion of project management strategy. In addition to this, I have found the significance of different project selection methods. Appropriateness of different projects and appropriateness of used tools and techniques for certain projects are important (Bhavsar et al. 2019).

On the other hand, I have understood the different stages of project management. In such cases, project management is differentiated four major stages such as initiation, planning, execution, and closure. The most significant stage is the initiation that has been studied from the additional study material. The scope and structure of the project can be identified in this stage which has been also understood effectively. The selection and structure of the project are also identified effectively. Along with this, the approach of a professional person has been understood and the knowledge I have acquired for future professional practice. A huge procedure has been utilized by utilizing different undertaking methods, applications, and importance (Corvello et al. 2017). Then again, I have additionally discovered that in the administrative methodology, the idea of the task the board is utilized critically.

Description of Project Management Practice

The approach of Project Management is identified while I have started to study about the project management practice. The project management incorporates about 9 elements of success which is known as the best practice of all. In successful project implementation, an organisation effectively employs these elements to provide the client with lip services. Among these phases, the first and foremost method is defined lifecycle and milestone which is followed by Stable Requirements and Scope. Along with this, the next three stages are Defined Organisation, Systems, and Roles as well as Quality Assurance and planning of commitments (Gupta et al. 2019).

Tracking and variance analysis is conducted in the next stage which is followed by the decision of corrective action. Along with this, the Corrective Action Decisions and Escalation and Issue Management are the final stages of project management practice. In such cases, I have found that the importance of monitoring and surveillance are necessary for the practitioners to identify the control of the project. In a fruitful venture usage, an association powerfully utilizes these components so as to give the customer lip administrations. Among these stages, the above all else technique is characterized lifecycle and achievement which is trailed by Stable Requirements and Scope. Once the project is being done, incorporation of feedback from the assessor, management as well as client is necessary (Kerzner, 2017). This can enhance the professionalism and appropriateness of the project. Along with this, the success rate of the project can be enhancing in a significant way.

Nine major elements of project management

Figure 1: Nine major elements of project management

(Source: pmi.org, 2020)

Competencies of The Team in Project Success or Failure

In the case of any project, I have noticed that the main role is played by the stakeholders. The quality and involvement of human resources are the determinant factor of project management. It has been noticed that they are the main driving force of the success or failure of project management as well as the assurance of quality and achievement of aims and goals can be determined by the integrity of the team. Along with proper team culture, an effective leadership approach is also important for the project to make the project successful. The level of skill and competencies of the team must be balanced and as per the skills, resource allocation must be done.

The competency of human resources can be divided into three categories such as Input competency (abilities, experience, qualification, and knowledge), output competency (standards, results, visible) as well as Personal competency (emotions, features, results, and behaviours) (Lampa et al. 2017). I have understood that with the balance and inclusion of all these three types of competencies within a team, the success of the project can be enhanced. With the help of proper conflict management and building trust among people, the efficiency of the project management team can be enhanced. Along with this, the commitment of the members towards their team as well as towards the deliverable task is also necessary to ensure success. Without this approach, success can be affected. Focusing on the goal and result and accountability to the deliverables are also very important to enhance team efficiency.

Critical Analysis of The Way to Improve the Success Rate

For the purpose of improving the success rate in project management, I need to consider the uniqueness of every project. However, in my previous project, I could enhance the communication strategy more effectively that the involvement among people can be increased. Along with this, the communication can engage more coordinated action, agreement ability as well as recognise and solve issues. On the other hand, support of management by providing more human and financial resources are also necessary that I wanted to be increased in the last project. This could enhance the outcome in the given timeframe. The development of effective policy decisions and incorporation of the situational leadership approach instead of traditional management is also necessary for conducting project management in a more effective way (Shirazi et al. 2017). The controlled scope can enhance the understanding of people and can help to achieve the expected outcome.

Conclusion

Henceforth, it can be concluded that with the help of effective project management strategy, the success can be enhanced and the chance of mismanagement as well as project failure can be reduced. With the assistance of appropriate peace promotion and building trust among individuals, the productivity of the task supervisory group can be improved. Alongside this, the dedication of the individuals towards their group just as towards the deliverable undertaking is additionally important to guarantee the achievement. Without this methodology, the achievement can be influenced. Concentrating on the objective and result and responsibility to the expectations are additionally essential to improve the group effectiveness. Improvement of powerful strategy choice and fuse of situational initiative methodology rather than the customary administration is likewise essential for directing undertaking the executives in a progressively compelling manner.

References

Amjad, S., Ahmad, N., Saba, T., Anjum, A., Manzoor, U., Balubaid, M.A. and Malik, S.U.R., 2017. Calculating completeness of agile scope in scaled agile development. IEEE Access, 6, pp.5822-5847. https://ieeexplore.ieee.org/iel7/6287639/6514899/08078177.pdf

Badewi, A., 2016. The impact of project management (PM) and benefits management (BM) practices on project success: Towards developing a project benefits governance framework. International Journal of Project Management, 34(4), pp.761-778. http://www.academia.edu/download/59322253/3.Elsevier_The_impact_of_Ben20190519-28495-1yo7tsm.PDF

Bhavsar, K., Shah, V. and Gopalan, S., 2019. Business Process Reengineering: A Scope of Automation in Software Project Management Using Artificial Intelligence. International Journal of Engineering and Advanced Technology (IJEAT), 9(2). 

Corvello, V., Javernick-Will, A. and Ratta, A.M.L., 2017. Routine project scope management in small construction enterprises. International Journal of Project Organisation and Management, 9(1), pp.18-30. 

Gupta, S.K., Gunasekaran, A., Antony, J., Gupta, S., Bag, S. and Roubaud, D., 2019. Systematic literature review of project failures: Current trends and scope for future research. Computers & Industrial Engineering, 127, pp.274-285. https://www.sciencedirect.com/science/article/pii/S0360835218306053

Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons. 

Lampa, I.L., de Godoi Contessoto, A., Amorim, A.R., Zafalon, G.F.D., Valêncio, C.R. and de Souza, R.C.G., 2017, April. Project Scope Management: A Strategy Oriented to the Requirements Engineering. In International Conference on Enterprise Information Systems (Vol. 2, pp. 370-378). SCITEPRESS. https://www.scitepress.org/Papers/2017/63186/63186.pdf pmi.org (2020) Best practices--the nine elements to success, Available at: https://www.pmi.org/learning/library/best-practices-effective-project-management-8922 [Accessed on: 13 April, 2020]

Shirazi, F., Kazemipoor, H. and Tavakkoli-Moghaddam, R., 2017. Fuzzy decision analysis for project scope change management. Decision Science Letters, 6(4), pp.395-406. http://m.growingscience.com/beta/dsl/2524-fuzzy-decision-analysis-for-project-scope-change-management.html

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