Theories and Practices of Project Management (Term Paper Sample)

Theories and Practices of Project Management Name Institutional Affiliation Theories and Practices of Project Management Project management is essential in any organizational structure because it maximizes the efficiency through which resources are utilized. It is defined as the process of managing the knowledge, assigned tools, and methodologies that can be used to achieve a project activity and meet the requirements that were set when the project commenced (Georgieva & Allan, 2008). Good project planning should not affect the daily activities that take place in an organization. Explaining the requirement of the project, creation of a time schedule, allocation of resources and planning are the important activities that take place in project management. Planning is subject to change because most projects usually face deviation. Scope In project management, we apply the tools/techniques, skills and knowledge to showcase the activities to meet the requirements of the project. To further understand managing of a project, I ought to define the term project. A project is defined as the achievement of a specific objective that involves a sequence of activities that utilize resources (Turner, 2008). A project should be temporary i.e. has a beginning and end in time and should also be unique. This is to mean that; a project is not a day to day operation but a specific operation with the sole goal of accomplishing a common goal (Cho & Gibson, 2001). Projects come in all sorts of sizes, types and complexity such as advertising campaigns or even the construction of a building. Project management is the process of limiting the project objectives achievement by aiming at enabling completion of budgets, satisfaction of the schedule of projects and meeting of project goal. It seeks to solve the problem of utilizing the current and existing structures and resources of organizations. The first major process that will determine if the project management process will be a success is the Planning Process. Planning of a project mainly revolves around planning for the core/major processes and also planning for the processes that will facilitate success (Koskela & Howell, 2002). The project team should first plan for the scope of the project where they will evaluate the subject matter at hand. This is where they will evaluate whether the project is feasible and if it can be completed (Kerzner, 2013). After determining the scope, a project team will move to determine the cost of the project and come up with a budget, after which they will make a time schedule to help distribute time evenly to all tasks in the project. Other tasks that will take place include definition of the scope, task duration estimation, planning of resources and plan development. Literature Review 1. Project Plan Development This a process within the Project Integration Management which involves making sure that all processes and elements of the commencing project are synced and coordinated. Project Plan Development is whereby the project outputs are highlighted and used together with other processes in planning such as strategic planning to come up with a guiding document that will be very crucial to the execution of the project and project controls (PMBOK, 2008). This process can occur in loops through out the project because of the initial copy may not cater for the requirements that will be needed as the process is on-going. Moreover, the initial draft may have the generic requirements of resources and also project task sequences that are undated (Atkinson et al., 2006). The loop comes in because further down the project, specific resources will be clearly highlighted and the exact dates of the task sequences will be determined. Almost all projects have iterative project scopes which is determined by the project members/team. The project team usually make use of a Work Breakdown Structure (WBS) which allows them to break down the tasks and capture the work that is to be done (Larson & Gray, 2013). All work or tasks in the project must be time estimated, planned , and given authorization by the management and internal stakeholders. All these put together will help arrive at the project scope. One a project plan is developed, it can used for guiding the project execution, communication to the stakeholders, documentation of the project planning hypothesis and project planning decisions, definition of the main management reviews, providing a foundation for the progress measurement and controls, and lastly for highlighting timing, content and extent of the project. What are the inputs in Project Plan Development? One of the major inputs to this plan development are the other planning outputs in the project. These are the outputs in the knowledge areas of the planning process. Other planning outputs may include the Work Break Structure, base documents and other supporting materials and information (Meredith & Mantel, 2011). Another input in the Project Plan Development are the historical information which may be located in databases and other related projects that were done in the past. All the information should have been collected in other planning processes in order to be used as input in the Project Plan Development. Historical information will also be used in this process to verify the assumptions and explore other alternatives. Furthermore, organizational policies are an additional input to the Project Plan Development (Lloyd & Simpson, 2005). These organizational policies may include, but not limited to; Financial controls (disbursement reviews, time reports and expenditure), Quality management and Personal administration (employee performance ratings and employee acquisition/firing guidelines. Constraints are also listed as an input in Project Plan Development. Constraints are defined as the restrictions that will hinder the success of the project. An example of a constraint can be a project budget that is pre defined and will limit the project team’s efficiency in completing the project. Constraints will also affect the staffing, scope of the project and schedule for completion. Lastly, assumptions are the last input in the Project Plan Development. These are the facts that considered to be certain or true and they play a major part in the development plan where they affect most parts of the project planning. One the project team identify these assumptions the move to verify and document them as part of the overall planning procedure. What are the techniques and tools used for Project Plan Development? The first tool/technique used in this process includes project planning methodologies that involves any arranged approach that is used to guide the project team. This can be simply structured templates and forms (paper form or electronic) or sophisticated simulations. Complex projects require hard tools such as project softwares while projects that require less work can utilize soft tools such as casual project meetings. Another tool/technique for Project Plan Development includes the Stakeholders’ skills and knowledge (Indelicato, 2009). The stakeholders are the primary consumers or beneficiaries of the project, therefore they have the knowledge and skills required to come up with the project plan. This contribution from the stakeholders is necessary and should be initiated by the project team through platforms and forums. Another tool/technique includes a Project Management Information System (PMIS) which are used to collect, analyze, integrate, disburse, and disseminate the project management output processes. This information system can be used throughout the project, from the starting point to the closing of the project. It can include both electronic and manual information systems. The last tool/technique is the Earned Value Management (EVM) which is a technique utilized assimilate the project scope, time frame, and project resources. It is also used to measure and document the performance of the project until its closing point. 2. Project Success Management Project success is the ultimate objective of any project and it can only be achieved through managing the whole process. The success of any project is determined by the parameters and factors that will face the project team. Some of these factors include the implementation process, creating an absolute goal, competition and the amount of resources available to complete the project. These factors are paramount for project management to be considered a success. There are also factors that hinder the success of this process which include; lack of team participation, inadequate project resources, lack of the proper skills needed, misuse of management techniques, choosing a manager who is under skilled and lack of support from the organization’s management (Munns & Bjeirmi, 1995). Project management requires absolute commitment from the project team and also a manager that is skilled in order to delegate the duties to members who have the best skills to deal with the specific duty. In order to ensure the project is a success the manager should make sure that the flow of information and resources are adequate for the project team. 3. Project Scope Management Project Scope Management ensures that the project has all the necessary work needed for successful completion of the project. This knowledge area covers the initiation, planning, definition, verification and change control. The third project dimension; Project Time Management ensures punctuality or timely completion of the project by incorporating various decisions and actions such as sequencing, schedule development and control and duration estimation. Project Cost Management, like its suggestive name, involves the processes needed to enable the project be completed within the estimated budget. The processes are resource planning, cost estimation and budgeting control. Project Quality Mana...