How can project management be applied to a companys project




















In contrast with projects, operations are ongoing and repetitive. They involve work that is continuous without an ending date and with the same processes repeated to produce the same results. The purpose of operations is to keep the organization functioning while the purpose of a project is to meet its goals and conclude. Therefore, operations are ongoing while projects are unique and temporary. A project is completed when its goals and objectives are accomplished. It is these goals that drive the project, and all the planning and implementation efforts undertaken to achieve them.

Sometimes projects end when it is determined that the goals and objectives cannot be accomplished or when the product or service of the project is no longer needed and the project is cancelled.

There are many written definitions of a project. All of them contain the key elements described above. For those looking for a formal definition of a project, the Project Management Institute PMI defines a project as a temporary endeavor undertaken to create a unique product, service, or result. The temporary nature of projects indicates a definite beginning and end. When considering whether or not you have a project on your hands, there are some things to keep in mind.

First, is it a project or an ongoing operation? Second, if it is a project, who are the stakeholders? And third, what characteristics distinguish this endeavor as a project? Consider the following scenario: The vice-president VP of marketing approaches you with a fabulous idea. He wants to set up kiosks in local grocery stores as mini-offices.

These offices will offer customers the ability to sign up for car and home insurance services as well as make their bill payments. He wants the new kiosks in place in 12 selected stores in a major city by the end of the year. Finally, he has assigned you to head up this project. Projects are temporary in nature, have definite start and end dates, result in the creation of a unique product or service, and are completed when their goals and objectives have been met and signed off by the stakeholders.

What now? The notes you scribbled down on the back of the napkin at lunch are a start, but not exactly good project management practice. Unfortunately, many projects follow this poorly constructed path, and that is a primary contributor to a large percentage of projects not meeting their original objectives, as defined by performance, schedule, and budget.

The Standish Group a Boston-based leader in project and value performance research released the summary version of their CHAOS Report that tracks project failure rates across a broad range of companies and industries Figure 2. When are companies going to stop wasting billions of dollars on failed projects? The vast majority of this waste is completely avoidable: simply get the right business needs requirements understood early in the process and ensure that project management techniques are applied and followed, and the project activities are monitored.

Applying good project management discipline is the way to help reduce the risks. Having good project management skills does not completely eliminate problems, risks, or surprises. The value of good project management is that you have standard processes in place to deal with all contingencies. Project management is the application of knowledge, skills, tools, and techniques applied to project activities in order to meet the project requirements.

Project management is a process that includes planning, putting the project plan into action, and measuring progress and performance. What are the objectives for your project? Make sure you set goals that everyone agrees on to avoid team conflicts later on. Understanding and addressing the needs of everyone affected by the project means the end result of your project is far more likely to satisfy your stakeholders. Last but not least, as project manager, you will also be balancing the many competing project constraints.

On any project, you will have a number of project constraints that are competing for your attention. They are cost, scope, quality, risk, resources, and time. These are the primary competing project constraints that you have to be most aware of. In this triangle, each side represents one of the constraints or related constraints wherein any changes to any one side cause a change in the other sides.

The best projects have a perfectly balanced triangle. Maintaining this balance is difficult because projects are prone to change. For example, if scope increases, cost and time may increase disproportionately. Now that you understand the importance of project management, as well as some project management functions, you might be wondering: is a career in project management for me?

As a project manager, you can make a real impact on helping organizations to hit their targets and create a working environment where teams can thrive. You love managing projects. Um, yeah, this one is probably a no-brainer. You want to make a real difference to the business. Project managers are on the frontlines of the business, helping to turn intangible things like goals and values into solid results that actually move the needle.

You want to make a real difference to teams. Project managers are always looking for new technology and processes that can help teams to work together more effectively, efficiently, and productively. Picture this. You know, normal party conversation. You list out some examples of the importance of project management in points, discuss the benefits, and mention the value it brings to organizations. But before you lose your cool and flip over a table of vol-au-vents, here are just some of the ways you can define the value of project management and measure its importance for your organization.

Use a project management tool. Then use those stats to make data-driven decisions and constantly optimize how your projects get done.

Calculate how much time and money project management is saving you. Project management software helps you to better calculate how much time and money each project is actually going to cost you; allows you to cut down the time lost to pointless meetings and communication mishaps; and keeps your employees more engaged and accountable, reducing churn and new hire acquisition costs. A good project manager considers the big picture and sets realistic and achievable goals, budgets, and timelines.

Without careful management, a project can quickly get off track before it has even begun. To set realistic goals, budgets, and timelines, the project manager communicates with different stakeholders to understand the strategic priorities and business objectives of the initiative.

Based on their research, the project manager then outlines a project plan that balances those priorities within the constraints of time and budget. This process involves cost estimation, resource management, and risk assessment. A lack of clear goals was the most common reason for project failure in Project managers help organizations hone in on their priorities and define their project objectives. When project management is left to the team to handle, the scope and objectives can easily get muddled.

Unclear focus can lead to scope creep, missed deadlines, and overspending. Plus, without a project manager to oversee the project plans and task breakdowns, many teams may not notice potential risk factors as they arise. A good project manager keeps an eye on all these factors so that the team can focus on the right tasks at the right time and adapt as needed.

One of the most important reasons to use project management is to align projects with business strategy. In other words, project management is a driver of organizational strategy.

Strategic alignment at every level of the project keeps each stakeholder on the same page and ensures your initiatives drive the organization forward.

Project management is a proactive process that seeks to help the right people do the right tasks at the right time. Without a set project management method, many teams tend to work reactively—handling issues as they arise rather than proactively planning for known risks and setting project goals and parameters from the beginning. Many types of project management have been developed to meet the specific needs of certain industries or types of projects.

They include the following:. This is similar to traditional project management but includes the caveat that each task needs to be completed before the next one starts. Steps are linear and progress flows in one direction—like a waterfall. Because of this, attention to task sequences and timelines are very important in this type of project management. Often, the size of the team working on the project will grow as smaller tasks are completed and larger tasks begin.

The computer software industry was one of the first to use this methodology. With the basis originating in the 12 core principles of the Agile Manifesto , agile project management is an iterative process focused on the continuous monitoring and improvement of deliverables. At its core, high-quality deliverables are a result of providing customer value, team interactions, and adapting to current business circumstances. Agile project management does not follow a sequential stage-by-stage approach.

Instead, phases of the project are completed in parallel to each other by various team members in an organization. This approach can find and rectify errors without having to restart the entire procedure. This methodology is all about avoiding waste, both of time and of resources. The principles of this methodology were gleaned from Japanese manufacturing practices. The main idea behind them is to create more value for customers with fewer resources. There are many more methodologies and types of project management than listed here, but these are some of the most common.

The type used depends on the preference of the project manager or the company whose project is being managed. Let's say a project manager is tasked with leading a team to develop software products. They begin by identifying the scope of the project. They then assign tasks to the project team, which can include developers, engineers, technical writers, and quality assurance specialists. The project manager creates a schedule and sets deadlines.



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