Projects, Processes & Systems - Essay Example

Download file to see previous pages In order to make a project a success four important components of a project (time, resources, funds, and most importantly scope) must be managed effectively. Additionally, all these components are inter-connected. Thus, all these must be managed successfully. In addition, all these components must be managed collectively, if the project manager and the project are to be a success. In a project, scope refers to the objectives that need to be achieved and the funds and resources (of time and money) that have been assigned to the project for accomplishing these goals. Additionally, it is extremely vital that any change that takes place into the scope of the project have a similar adjustment in funds and resources. For instance, if the scope of a project covers constructing a three story building of a house with finances of $200,000. In this scenario, the project manager has to do it. On the other hand, if the scope of the project expands to constructing a four story building, the project manager must think of a suitable change in estimated resources (money and time). However, if the funds are not estimated according to scope, the experienced project manager will keep away from changing the scope. Thus, dealing with scope change is vital in order to achieve project goals, since these changes scope can considerably affect the estimated expenditure, timetable, risks and quality of the entire endeavor. (Narayan, 2011). Furthermore, a project manager cannot efficiently deal with the project resources (such as time and money) unless they effectively deal with the project scope. Thus, when a project manager has the project scope undoubtedly recognized and linked to the deadline and resources, he/she can start handling the project resources. In addition, these project resources comprise the human resource, tools, and material required to accomplish the project objectives (Reh, 2011). Vision for Success Efficient project management requires utilizing the exact procedures through the right people. A lot of researches have proved this. In this scenario, extremely flourishing ...Download file to see next pagesRead More