Project Management and Predetermined Business Targets - Assignment Example

? Assignment According to the article of Anderson , the “soft side” of project management refers to adopting and executing certain significant paths in order to reach predetermined business targets. This particular notion of “soft side” is quite significant within the circumstance of project management owing to the reason that the success of accomplishing expected project targets can be determined by a greater level with the evaluation of ‘soft side’. It is worth mentioning that the aforesaid “soft side” imposes a considerable impact particularly upon the success of a specific project. This can be justified with reference to the fact that the “soft side” of projects tends to execute certain fundamental constituents of hard side that include deadlines, goals, control and procedures among others resulting in ensuring a greater level of success of the projects at large. Specially mentioning, the above described “soft side” of project management would support in finding out the obstacles in order to attain desired project targets by a considerable level (Andersen, 2010). 2. It can be apparently observed that there are several reasons for which projects fail drastically. In this similar concern, the various reasons might encompass unrealistic anticipations, ineffective exploitation of valuable resources, deficiency in the engagement of the senior officials or the management team and the involvement of inexperienced as well as low-skilled project managers. In addition, the other reasons for the failure of projects may embrace indistinct project targets, shortage of visibility in the projects and most vitally communication gaps among others. In order to ensure that a particular project does not fail, it can be organized in various ways. In this similar concern, the imperative ways can be centralization of projects in a particular database, presentation of valuable information in a centralized manner along with establishing clear communication with every individual involved in a project among others (West, n.d.). 3. After reading the article of Turner & et. al. (2009), it can be affirmed that the relatively low implementation rate of Gantt chart and Critical Path Method (CPM) diagrams in projects might reveal informal planning based activities of the companies and most vitally it is showing less significance to them in terms of value. This could impose unfavorable impacts especially upon the financial conditions of the companies by a certain degree. In this similar context, my organization broadly uses the aforementioned aspects as primary tools in order to manage as well as organize various individual projects, make effective planning and guide the organizational members towards the accomplishment of different tasks. My organization which deals with providing military services to the customers intend to perform various operational functions similar to that of a hi-tech company. In this regard, one of the disparities, which exists relates to facet of change control prevailing in my business or industry, while it does not exist in the hi-tech companies as mentioned in the article. Thus, it can be stated that the above discussed instruments must be incorporated in order to ensure better project management (Docstoc, 2011). 4. According to the article of Cavaleri & Reed (2008) concerning the difficulties of describing the interdependencies between tasks, it can be affirmed that defining the interdependencies between tasks is actually quite difficult owing to various significant reasons. In this regard, a few of the reasons might embrace deficiency in coordination while conducting various project related activities, unsupportive collaboration actions, ineffective coordination procedures and massive interdependency upon one another regarding the completion of the projects in a stipulated time period. It can be affirmed from a broader outlook that the difficulties of defining the interdependencies between tasks in terms of complexities owing to the above discussed reasons can impose substantial effects particularly on planning as well as managing project time by a certain degree. It is worth mentioning that the effect of such complexity particularly on planning along with managing project time can be viewed in the form of rising operational costs and diminishing satisfaction level of the personnel among others (Cavaleri & Reed, 2012). 5. On the basis of the article presented by Sethi & Sethi (2009), it can be stated that there lays a probable chance of arising conflicts amid various firms that broadly embrace quality enhancement programs and innovative products. In this similar concern, the conflicts might emanate in terms of gaining greater market success and attaining maximum profitability of a particular new product. This can be justified with reference to the fact that the focus of the firms specifically upon developing innovative products and designing appropriate quality enhancement programs largely influences two major factors such as profitability of a new product and market success by a certain degree. In order to overcome the aforesaid conflicts, a company can adopt and employ skilled cross-functional teams along with preserving functional multiplicity and information incorporation (Sethi & Sethi, 2009). 6. In accordance with the article published by Leong Wah June (2009), the prime objective or the intention of Critical Path Method (CPM) can be apparently viewed to be forming an enviable and a practicable interrelation between cost as well as time relating to any particular project by lessening the operational costs and the target time. It can be affirmed that this particular objective of CPM can provide active support to the companies in successfully completing their respective projects in terms of saving money, making effective plans and most significantly exploiting accessible valuable resources effectually. In relation to the article, the interrelation between time/cost and trade-off can be better explained by taking into concern the assumption of CPM concerning completion of a particular project. In this regard, the aspect of CPM assumes that the projected completion time of a specific project can be curtailed by applying several additional resources such as labor, technological equipments, capital and most vitally time-cost trade-off among others (Khalaf & June, 2009). 7. With regard to the study presented by Winkler & et. al. (2008) concerning the influence of communication quality particularly on outsourcing success, certain key lessons can be learnt that might be applied in the future IT related projects. In this regard, one of the significant lessons that can be learnt is that the communication aspect plays an imperative part while making any vital decision such as outsourcing a part or an entire project to other country. Moreover, another lesson which can be learnt is the importance of mitigating the challenges related to communication that would rise while conducting any particular activity such as off-shoring business. By taking into concern the above discussed lessons, establishing effective communication and lessening communication gaps in order to mitigate any sort of challenges can be applied while conducting IT related projects in future. The knowledge of the techniques relating to the above stated article could have helped in past projects by focusing upon different attributes concerning communication quality that include participation, quality and information sharing among others (Knol, 2009). 8. Based on the article presented by Grossman (2009), several human resource (HR) associated best practices can be apparently viewed for managing people who manage projects. In this regard, the first HR best practice for managing people who manage projects might include establishing suitable operational as well as strategic goals. The second HR practice for managing people who manage different sorts of projects might be establishing as well as facilitating effective communication which would result in smooth handling of the projects by a certain degree. Finally, the third HR practice for managing people who tend to manage various projects has been determined to be providing valuable training particularly to the project managers of the respective project teams. On the basis of the above discussion, it can be affirmed from a broader outlook that the HR best practice of delivering effective training for developing the performance of the project managers plays a decisive role in managing projects by a significant level (Grossman, 2009). 9. According to Philbin (2008), projects in this modern day context are increasingly becoming much complex due to the introduction and incorporation of a number of innovative technologies at a rapid rate. In this similar concern, one of the significant tools which can manage big and complex projects and can also lessen potential risks is “four-frame system view”. This represents certain vital aspects such as incorporated system designs, development in systems architecture, management of systems-of-systems and systems incorporation (Philbin, 2008). The tools that my company uses for huge and composite projects towards reducing the potential risks generally comprise systems engineering and maintenance of databases. In this regard, the tool concerning systems engineering represents the incorporation of various significant elements that tend to facilitate to attain desired project targets. On the other hand, databases are regarded as the record of valuable information in order to accomplish expected project associated targets. 10. On the basis of the article presented by Philbin (2008), the software facets that can help the managers to manage portfolio risk can be viewed to be systems engineering and aircraft avionics. It can be stated that these particular software facets might help in managing risks in terms of dealing with complexities and accomplishing effectual operational capabilities through developing an incorporated system design. These software facets might assist the companies to complete their respective projects within a stipulated time period by a greater level. Amongst these, one of the software features i.e. systems engineering is used in my organization relating to project risk management. In terms of determining its effectiveness, it can be affirmed that the software facet of systems engineering helps my organization to deal with various project associated issues or challenges at large. This can be done through facilitating successful systems through incorporating certain vital elements such as techniques, facilities and products among others (Philbin, 2008). 11. In accordance with the article presented by Reed & Knight (2010), it can be apparently observed that there pertain several risk factors which are involved in functioning with virtual teams on a particular project. According to Reed & Knight (2010), virtual based project teams are normally executed in several areas particularly in outsourcing arrangements. In this regard, the three risk factors that can be viewed to be engaged in working with virtual teams on a particular project encompass composite incorporation of various project related components, limited project scope and inadequate knowledge transfer. It is worth mentioning that the above depicted risk factors can be overcome or mitigated by several ways. These ways might comprise appointing experienced as well as skilled project managers, establishing effective communication between different project teams and greater engagement of the senior officials in project risk management procedure among others (Reed & Knight, 2010). 12. It can be stated that communication is quite important in order to ensure the success of a project as it ascertains appropriate and timely collection, generation and eventually dissemination of valuable projects associated information. Specially mentioning, poor communication has certain potential unfavorable consequences on a particular project. In this regard, it can be affirmed that poor communication can often lead to the failure of projects by a greater level. Moreover, poor communication can damage the existing interrelation between every project manager and project team resulting in generating several potential project management associated risks. However, these unfavorable consequences can be avoided through implementing standardized practices relating to project communication and designing effective project based systems among others (Mehta, n.d.; Kliem, 2007). References Andersen, E. S. (2010). Are we getting any better? Comparing project management in the years 2000 and 2008. Project Management Journal 41(4), pp. 4-16. Cavaleri, S., & Reed, F. (2012). Managing project problem-solving patterns. International Journal of Managing Projects in Business 5(1), pp. 125-145. Docstoc. (2011). Documents. Retrieved from http://www.docstoc.com/docs/154404241/DQ-1-In-their-2009-article_-Turner-et-al-describe-the-relatively-low Grossman, R. J. (2009). Managing the people who manage the projects. SHRM 54(8). Khalaf, W. S., & June, L. W. (2009). Cost reduction for the project completion in shortest possible duration by stretching noncritical activities. Australian Journal of Basic and Applied Sciences 3(4), pp. 4526-4533. Knol, A. (2009). The influence of communication quality on offshore business process outsourcing success. Retrieved from http://api.ning.com/files/uU*s0l5ldhZdDzrP-WgscdCL*w31xtVMnkMGMw1BYnquXGkWR4qw0pbZJjOle-CzpCJyugpHT6swYKN4AlspOXvDfswr7*Fi/RUGArjanKnolCommunicationQualityinOffshore.pdf Kliem, R. L. (2007). Effective communications for project management. United States: CRC Press. Mehta, A. (n.d.). Communication in project management. Retrieved from http://www.pmiglc.org/comm/articles/0410_mehta_comm.pdf Philbin, S. P. (2008). Managing complex technology projects. Retrieved from http://pabipedia.wdfiles.com/local--files/managing-complex-technology-projects/31311006.pdf Reed, A. H., & Knight, L. V. (2010). Project risk differences between virtual and co-located teams. Journal of Computer Information Systems, pp. 19-30. Sethi, R., & Sethi, A. (2009). Can quality-oriented firms develop innovative new products? Journal of Product Innovation Management 26(2), pp. 206-221. West, C. K. (n.d.). Four common reasons why projects fail. Retrieved from http://www.projectinsight.net/white-papers/four-common-reasons-why-projects-fail.aspx Read More