Integrated Project Management

Executive Summary of Impact on The Project Management Process

In this paper, we will find the internal and external factors present in the organization as well as their nature of the impact on the project management process. This will also cover the strategies and outcomes applied within the organization or on the stakeholders.

Introduction to Impact on The Project Management Process

It is vital to have an understanding of all the internal and external factors present in the organization or political management as part of the process. It is said that internal factors are easy to identify as compared to external views. These factors are important for the project planning process. The lack of knowledge about these factors can create delays, lack of resources, or even failure of the project. The project managers have the whole sole responsibility to handle the project from employees to funding Assets (“Enterprise Environmental Factors (EEF) & Organizational Process Assets (OPA) | PM Study Circle”,2020). Risks can come from anywhere from inside or outside the company. The skill is to be effective in problem-solving and to continue with the work without any interruption or restriction within the project. Risks are also an important part of the project planning process (Rinaldi, 2020). Without understanding the factors and the risks associated with it they will not experience the barriers and risks that can lead to the failure of project management. The most critical part of the project management is to use the resources carefully as the employees are in a conceptual phase now. The leader must stay competitive and careful in terms of pricing and resources. The company may have many resources like human, financial, and technological but very few are strategic. Strategic resources are knowledge-based and are more competitive (Amit and Schoemaker, 1993). Strategic resources are always difficult to find and need organizational support (Barney, 2002; Barney, 1991). Companies are focusing on project management processes to improve the outcome of their business and to achieve the desired outcome (Barney, 1998).

Internal Risk Factors

 Project managers must identify the internal risks within the organization. The risks within the organization can be referred to as anything like financial factors, less or unequipped equipment, and other resources that can help to support the project. Unplanned leaves of the staff, infrastructure, and internal technological problems are also considered as the internal risks factor. Some of the common internal risk factors are-

  • Stability- The ability to handle the finances, debt, and obligations within the organization. The business only grow with the profits and nothing else Leaders, employees or stakeholders all connect with each other just to earn wages and profits.
  • Organizational structure- It is refer to the enhancing structure of the organization that can be maintained carefully if the company aims for it (Andre, 2008; The Business Dictionary).
  • Politics mismanagement- It is important for the employees to focus on the job rather than focusing on what’s going on in the organization (Schein, 2010.
  • Resources- You should be full on resources if you want to achieve business for the organization, otherwise task would be much difficult.
  • Innovation- refers to do innovative creativity and to make your business better than others. Lack of innovation can bring risk to the success within the organization.Strong communication is a part of an effective market environment (“What is Marketing Environment? Definition and meaning – Business Jargons”, 2020).
  • Incentives- Incentives boost up the employees. If you are willing to take extra time and extra effort from the employee than he/she is also eligible for the incentives.

External Risk Factors

In project management it is very difficult to control or manage the external risk factors. It is out of the control area of the manager (Fitchner, 2020). However it maintains a diverse culture within the organization (Brandon & Seldman, 2004; Hochwarter, Witt, & Kacmar, 2000). It can be a unwanted surprise for the manager as it is very hard for him to predict or to control them. Some of the external risk factors are-

  • Economic disbalance
  • Pandemic of wars
  • Unable to deal outside the interstate borders.

These are some of the factors wherein we do not have any strategy to control them. However, it is the part of the project planning within the organization. Without understanding the factors clearly it is very difficult for the leader to handle it. It is important to identify these factors so that they could not create any barrier in between the success of the project.

Strategies

The main idea of the environmental ethics is to use the resources completely without generating any waste, it is also known as full cost accounting or environmental cost accounting. It means to capture the full cost of business by utilizing its resources, the waste and population generated on daily basis or other environmental impacts.

Energy Efficiency-

Energy efficiency refers to the usage of the electricity to save money. It can be taken care by closing the lights, computer equipment after ending the work, to use energy lightening, to switch off the equipment when they are not in use.

Energy Sources-

There are plenty of options to convert fossil fuels today. For example, there are many sources like wind power and solar panels that work in Homes to save electricity. It is one another way to reduce environmental impact.

The Supply Chain

Many direct contributions has been done by the businesses to improve the Environmental factors. It is important to identify all the factors and then restructure the chart of opportunities or improvement.

Packaging

Paper packaging can end the era of plastics. People throw millions and trillions of plastics every year which takes years to decompose.

Pollution-

It creates multiple ways to generate population. Try to invest in clean energy and new planted trees (afforestation) that will calculate the company’s dedication to reduce pollution.

Resource Usage

 Use paper free in your office and reduce the use of paper within the organization.

All of them needs responsibility and guts to start. Company will definitely needs the support of the staff in order to bring change. Doing the right thing needs more courage than just to say it.

Stakeholders

Stakeholders are the people, company, group, or agency which are interested in the outcome of the project. They are involved and responsible for the approval process to make the project easy or difficult as he holds the full power of the project from employees to funding. Stakeholder management is the procedure wherein the stakeholders are being taken care of by the management itself. There are two types of stakeholders- Internal stakeholders and external stakeholders. It is very easy to identify the internal stakeholders. They are the people working on the senior level within the organization like IT Development, Marketing, Head of operations, and many more. External stakeholders are not related to the organization. They do not hold any part or position within the organization. The Project manager should stay updated about what their competitors doing to bring any new or updated change within the project for example, Technology development, changing markets new ethics, Standards, Technical support, Economic forces that leads to immediate changes of the project. You should have a deep understanding of the thoughts of your stakeholders. The company needs to know what he is thinking, whether he has a positive or negative impact on the company. Ensuring and managing the factors of the stakeholders is all they want, this can lead to success. The project manager of the organization builds the project for the stakeholder management plan. The first and the primary contact will always the client within the organization. Stakeholders are responsible and authorized for the funding to complete the project planning. Without proper management of stakeholders, it will be very difficult to complete the project. They are also responsible for the public relations perspective. Stakeholders never work alone, they always work in a team to focus. Stakeholders can be investors, customers, groups, organizations, and so on (Schrodt, 2002). They can be your greatest support or your worst reason for the failure of the project plan management.
Stakeholders usually involved in multiple roles and contacts across many different units, it’s important to communicate with them with focus and patience. Without having interviewed them increase priority or interest, it is important to validate the requirements of stakeholders.
The best way to make stakeholder management to work on the project management platform is to introduce communication, planning. As per the ProjectManager.com, you’ll get access to dashboards that provide real-time information and will keep reporting for stakeholders.

Reflection on Impact on The Project Management Process

Project management is practiced to achieve all the related goals within the market which can be measured in specific criteria, date, and time. The procedure follows with the introduction and implementation of planning, execution, control, initiation, closure, and so on. There is a wide range of are of project management systems through which the project is started.

I believe that the initial stage of a project can initiate the document preparation and the planning of the project. In my view, the entire project ensures that the planning for the project progression has been implemented and executed. It should understand all the factors by which a project can become successful and unsuccessful. According to the learning we gathered above make me realize that project management are important in many things in life as well. It is very important to have all the plans. Every project has some connected formulas on which the strategy has been found.

We have gone through the best practices we can do in project management. It is very important to understand why ethical factors are important or not important for the project management planning within the organization. I have now understood that the project manager in project planning management recognizes that the project is running fine and is under the code of ethics. Each and every code of conduct is important in personal as well in professional life. It is not compulsory for the project managers with full control and power to follow the ethics and code of conduct but they should ensure that people present in the project must follow it including stakeholders, leaders, employees, and everyone who is working actively within the organization. Future standard view or planning should be taken care of. The proper ethics can justify on which basis or ethics a project has been formed. By this, the project will increase its levels within industries by performing the strategies introduced by the project holders.

I believe that successful project management are ensured by the right approaches and ethically correct values and morals. The project management team should sit together to discuss their thoughts to create new ideas that will be beneficial for the employees and the organization and comes under the ethics of project management. With learning the project team can also implement the part of the strategy to get the desired outcome. This would also ensure the practices and resources which are required to manage properly. With all these everyone could judge if this strategy of project management planning is able to make a good reputation within the market or not.

References for Impact on The Project Management Process

Enterprise Environmental Factors (EEF) & Organizational Process Assets (OPA) | PM Study Circle. PM Study Circle. (2020). Retrieved from https://pmstudycircle.com/2012/01/enterprise-environmental-factors-organizational-process-assets. [Accessed on 08 Aug 2020]

Rinaldi, R. (2020). Organizational Process Assets vs. Enterprise Environmental Factors- Maghoosh PMP Blog. Magoosh PMP Blog. Retrieved from https://magoosh.com/pmp/organizational-process-assets-enterprise-environmental-factors/. [Accessed on 08 Aug 2020]

Fichtner, C. (2020). PMP Training: Enterprise Environmental Factors. Project-management-prepcast.com. Retrieved from https://www.project-management-prepcast.com/pmp-exam/2-uncategorised/982-free-lesson-enterprise-environmental-factors.

Andre, R. (2008). Organizational behavior. An introduction to your life in organizations. Upper Saddle River, NJ: Pearson Prentice Hall.

Projectcubicle.com. (2018). Retrieved from https://www.projectcubicle.com/types-of-organizational-structures/. [Accessed on 08 Aug 2020]

What is Marketing Environment? Definition and meaning –Business Jargons. Business Jargons. Retrieved from https://businessjargons.com/marketing-environment.html. [Accessed on 08 Aug 2020]

Project Management Institute. (2017). A guide to the project management body of knowledge (PMBOK Guide) (6th ed). Newtown Square, PA:PMI

The Business Dictionary. Organizational Culture.

Needle, D. (2004). Business in Context: An Introduction to Business and Its Environment.

Schrodt, P. (2002). “The relationship between organizational identification and organizational culture: Employee perceptions of culture and identification in a retail sales organization”. Communication Studies 53: 189-202

Schein, E.H. (2010). Organizational Culture and Leadership. San Francisco: Jossey-Bass, Print.

Brandon, R., & Seldman, M. (2004). Survival of the Savvy: High-integrity political tactics for career and company success. New York: Free Press

Hochwarter, W.A., Witt, H.A., & Kacmar, K.M. (2000). Perceptions of organizational politics as a moderator of the relationship between conscientiousness and job performance. Journal of Applied Psychology, 5, 472-478

 Amit, R. and Schoemaker, P.J.H. (1993), ‘‘Strategic assets and organizational rent’’, Strategic Management Journal, Vol. 14, pp. 33-46

Barney, J.B. (1991), ‘‘Firm resources and sustained competitive advantage’’, Journal of Management, Vol. 17, pp. 99-20

Barney, J.B. (1998), ‘‘On becoming a strategic partner: the role of human resources in gaining competitive advantage’’, Human Resource Management, Vol. 37, pp. 31-46

Barney, J.B. (2002), Gaining and Sustaining Competitive Advantage, Prentice-Hall, Inc., Upper Saddle River, New Jersey.

Significant Role of Project Managers – Establish Team Morale. Pmi.org. (2020). Retrieved from https://www.pmi.org/learning/library/team-morale-motivation-ideas-maintain-6175.

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