Shaping an Effective Method of Managing Projects - Coursework Example

Project management has surfaced as a forceful discipline carried out by well-trained, professionals as business firms have come to realize that they cannot be a viable enterprise if they cannot manage their projects. As departments and divisions vie for inadequate financial and human resources, strategic project management provides the coherent and balanced decision framework required to make the wise and accurate project investment decisions that allow organizations to compete and succeed in a global economy.

The underlying motivation for choosing this topic is the fact that project management is a domain that has been gaining more and more importance today. Such value has been triggered by shifting economic conditions like globalization, the escalating competitive spirit among business enterprises, technological advances, and growing customer demands and requirements – all these have led to businesses carrying out projects to attain maximum value in their products and yield better production results. In this discourse, it is hoped that the positive features of project management will be magnified, clarified, and given the needed stress with the anticipation that such features will assist in the enhancement of Wirth’s business practices, provide ways that would improve the engineering office’ current dealings with its customers thereby giving more satisfaction and develop to the fullest the company’s overall bottom line.

Whether in times of economic troubles and stagnation or during periods of financial viability, it is always imperative for business organizations to “tighten their belts” and focus on rational and pragmatic objectives. Essentially, business firms must aspire for economic efficiency as their crucial goal and make such objectives compelling and well-founded. To grasp this goal, all minor divisions of a business organization must therefore be cost-effective. In this treatise, these minor divisions are seen as “projects.” To achieve harmony and synchronization in these projects, internal project management is necessary.

Project management has surfaced as a forceful discipline carried out by well-trained, professionals as business firms have come to realize that they cannot be a viable enterprise if they cannot manage their projects. However, many organizations are still limiting the application of project management to the tactical level since it is critical for the business’ continued existence to make certain that products are efficiently crafted, developed, and delivered to internal and external customers. Likewise, knowledgeable organizations have long recognized the fact that project management is a critical strategic tool.