Effects of project management to the development of an organization and business

Project Management

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Effects of project management to the development of an organization and business

Introduction

In today’s environment and business world project are essential in development of a successful organization or business. Project management has led to many success stories and through implementation of strategic plans .Project management process involves team work, organization, research and financial assistance to implement the project. Through projects, businesses have increased quality of products and increased client base. Project management has made individuals focus on prior issues such as time constraints, performance and budget. The study will focus on what, how when and where project management is essential.

Project management is a competence or a discipline that leaders use in an organization to ensure set goals are achieved effectively and efficiently. Project management has a defined beginning and end and this enables organizations tie project results to business goals. All organizations use projects to achieve higher success rates and lower uncertainty and costs so as to translate objectives to reality. It enhances execution of discipline, governance and collaboration to bring innovation in the organization.

Businesses need project management in ensuring that planned goals have been achieved .This is done by bringing agility and innovation in new products and new initiatives. Business advantage of project management is timely achievements of goals and growth and ability to respond to changes in external environment. Optimal resource utilization is also achieved through budget allocation and informative based business decisions. In general business management increases productivity of a business and improve product quality. Project management ensures that customer loyalty is maintained a decreases risk of disasters.

Project life cycle is a technique or tool used to tackle project without errors to ensure delivery of project with high quality by using appropriate risk management techniques and process controls. It involves four basic stages the first step involves nature and scope of business and helps in identifying the relevance of project this is referred to as project initiation. Project planning involves detailed budgeting and is the stipulate step which ensures risk aversion. This stage is crucial without it the project fails it involves establishing a project plan and this is where responsibilities and roles are given during the project cycle. Project execution stage involves coordination of people and managing procurement. Project closure involves post implementation review where formal release of deliverables and is acceptable by customers. Critical Thinking and research are essential in project planning as research is necessary in identifying the risks entailed in the project. Research is identifying a certain project evaluating the situation before making a decision because one may encounter unexpected events.

Critical judgment is a vital ability for all features of project management. The skill assists one to organize his thoughts; analyze pros and cons of a situation, and present conclusions in a concise and persuasive manner (Hill, Jones, 2009). As a project manager, one uses critical judgments to predict issues, plan for them, resolve them, and make certain that all team members are aware of what to anticipate and what to do. Essentially, critical thinking is about managing a project plan

The benefits of project management to an organization are it performs risk assessment and maintain proper communication and maintain oversight. Project management helps streamline decision and helps an organization keep budget. Through workforce energized and keeping customers certified to improve competitive advantage .It also helps improve sales and minimization of conflicts through increases productivity and effective communication.

Project organization is the way project are delivery which involves creating a decision structure and setting job responsibilities. The time and effort spent on improving organization and mobilization of project is what is defined as project organization. Sponsorship is important as they provide financial resources in cash or in kind. They are involved with the daily undertakings of the project management

Project team building is a group process that promotes the strength that every human being is unique and he or she adds value .The concept of team building is working together to achieve goals set to achieve and meet customer requirement. Techniques for an effective team are getting the right people on the team by communicating team goals. Assigning everyone a task or responsibility and getting members to do what they do best. Managers are the root to a successful team the way they communicate to project team determines the outcome of the project. The involvement of the leaders is essential because they manage the project and securing resources. Sponsors and leaders monitor progress of the project they also review and approve any changes to schedule the budget if such changes exceed the project managers’ authority.

Work breakdown structure is ideal to be created in the planning stage of project life cycle. A project manager should align the stakeholders need with project objectives. This is a huge task for a modern day project manager. The project manager determines the main deliverable for the project to constructing a work breakdown structure. A project manager uses the WBS to define and organize a project and it enables a project performance and helps identify issues and problems. The managers use the WBS breaks the project into phases which are further Brocken down by deliverables and the lowest level of WBS components is called work packages. Work packages as defined by managers can be scheduled and assigned to resources (Hill, Jones, 2009).

Project management software helps a manager attain results by managing schedules and resources. The software helps in planning and progress tracking and helps develop timelines for project milestones. The role of the Project Management software in Environmental Results Program (ERP) assisted the initiative determining the effect of making changes to the schedule, allowing you to be proactive.ERP programs are well suited for adopting project management software as they can reduce the level of project management desired and technological comfort level of software users.

Conclusion

Project Management is a way of life and its role is bringing agility to organizations that want to innovate for new products or new initiatives for enhanced collaboration, discipline, responsiveness, of organizational elements and procedures products and operations. Project Management skills assist setting goals, planning how to achieve those goals, and the actions needed to achieve those goals.

The skills are quite different from engineering or construction skills associated with many projects, project management covers all aspects outside of the scope of technical areas that have to be well managed to meet project objectives (Hill, Jones, 2009).A manager helps define resource needs through a resource plan. The manager has to have a vision before implementing a project. Project management application in an organization is basically undertaken in four stages by the manager, project initiation, project planning, defining objectives and execution of the project. Management ensures discipline, individual competency and organizational culture encourages economic activity and is a critical source of multiple advantages.

Reference

Hill, Jones, G. (2009). Strategic management theory: An integrated approach strategic management series. (9 ed., p. 41). Cengage Learning.

Porter, M. E. (1980). Competitive strategy: techniques for analyzing industries and competitors. Michigan: the University of Michigan.