IT Project Management Tools (Research Paper Sample)

Discussion 6: IT Project Management Tools [Name] [School Affiliation] [Course] [Instructor] [Due Date]  Discussion 6: IT Project Management Tools In this modern-day, project managers have experienced a distinct advantage due to the numerous technological advancements in the business environment, including project management tools and technologies. According to Gilbert (2019), 66% of companies using project management tools completed their schemes within their original budget. Moreover, Gilbert states that companies that develop project management practices save 28 times additional money than their counterparts. Technically, project management involves initiating, planning, executing, monitoring, controlling, and closing processes performed by a project manager to accomplish the project's objectives (Brewer & Dittman, 2018). Due to the complex responsibilities involved with project management, project managers should consider using the available IT project management tools to support accomplishing the tasks and executing the responsibilities. Lind (2020) states that project management technologies organize and sequence responsibilities within a project by visually representing plans, schedules, people, costs, and resources essential to complete a project in time. Also, Lind states that managers should consider factors such as effectiveness, integrity, efficiency, compliance, and security to ensure they select a suitable technology for their various projects. Some of the tools and technology used to support IT project management include PERT Chart, Gantt Chart, Work Breakdown Structure (WBS), and Product Breakdown Structure (PBS). Gantt Chart A Gantt Chart is typically a project management bar chart that tracks tasks across time. The tool uses graphic illustrations to show the started, elapsed, and completion times of respective responsibilities within a project. According to Maserang (2019), Gantt charts are ideal for tracking progress where days required to complete a task are compared to the estimated number of days. Additionally, the charts serve as an accounting tool since they display the money allocated versus the money spent in a particular project. PERT Chart The Program Evaluation and Review Technique (PERT) Chart is a planning and control tool developed in 1958 by the United States Department of Defense's US Navy Special Projects Office to define and control the tasks necessary for completing a project (Maserang, 2019). Technically, the tool analyses the tasks involved in completing a given project, precisely the required time to complete each responsibility, and identifies the minimum time necessary to complete the entire project. Product Breakdown Structure (PBS) The Product Breakdown Structure (PBS) is a hierarchical structure of entities delivered in a project consisting of components that make up a project deliverable arranged in a whole-part relationship. The tool helps clarify the expected deliverables of a project. According to the Association of Project Management (2016), PBS technologies provide a valuable management tracking tool that prevents project phase margins from being conceded without perceptible progress being made. Work Breakdown Structure (WBS) The Work Breakdown Structure (WBS) provides a hierarchical decomposition structure of the deliverables needed to complete a project activity. The tool typically breaks down the deliverables into manageable work packages that can be scheduled, cost, and assigned to workforces. The Association of Project Management (2016) states that WBS technologies form the basis of the detailed delivery plan, thus enables task teams and individuals in a project to account for their progress. Characteristics of Future Tools The use of project management tools and technologies is snowballing daily, enabling developers to collect new data, including concerns, ideas, and problems affecting current users, to advance and develop new tools suitable for the modern workplace. Simultaneously, the work environments are regularly changing, requiri...