Project Management and How It Relates to the Project Management Maturity Model - Essay Example

Comments (1) Cite this document
Summary
The author of the paper "Project Management and How It Relates to the Project Management Maturity Model" will begin with the statement that in order to elucidate the significance of project management maturity model, it is worthwhile too, first of all, come up with a definition of the term project management…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.8% of users find it useful
Project Management and How It Relates to the Project Management Maturity Model
Read TextPreview

Extract of sample "Project Management and How It Relates to the Project Management Maturity Model"

Download file to see previous pages Typically, as it has always been the norm, project management works efficiently when the direction and the scope of the project are well depicted and understood. Additionally, the process of project management works effectively when all the stakeholders reach a mutual consensus on aspects of objectivity and expectations. Equally important in project management is the need for a thorough understanding and assessment of the risks involved. All these benchmarking features in project management become achievable when the probability of success is assumed to be equally high. However, different companies no longer align themselves towards the above-stated guidelines in the process of project management. Nowadays, different companies are undertaking different approaches to project management. Many reasons can be attributed to the shift from traditional project management approaches. One of the reasons in this paradigm shift is that more and more projects are becoming highly complex and hence require technical capabilities in order to achieve success. Moreover, the risks associated with achieving the breakthrough can be very significant and there is no total guarantee that the project will be successful and the projected value of completion will be arrived at effectively (Wysocki 175)
In cases of market leadership position is desired, the planning of the project is further complicated by stiff competition as well as the need to minimize the schedule for an early introduction into the market. As a result, a majority of today’s projects are not clearly understood and are neither well defined. The rising costs, global economic disparities, and competition within the market players continue to drive many companies to take more risks. Changes in project management have undergone significant milestones with regard to the entire practices as more industries embrace the art. However, a notable observation is that these companies share similar accomplishments with other companies during the benchmarking activities. One of interesting areas in project management is the project management maturity model, which is a vital component in strategic planning (Kerzner 45). Project management maturity model abbreviated as PMMM can be elucidated as the foundation in achieving excellence in project management. Project management maturity model is a fundamental component of strategic planning that is significant in achieving distinction in any organization. By incorporating strategic planning in the project management maturity model, organizations are in a position to shorten the time frames of the entire project management. Strategic planning in project management is quite dissimilar from other variants of strategic planning. This is because it is an activity that is performed at the middle-level of management as opposed to executive management.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Field of project management and how it relates to the Project Research Paper”, n.d.)
Retrieved from https://studentshare.org/management/1398591-field-of-project-management-and-how-it-relates-to
(Field of Project Management and How It Relates to the Project Research Paper)
https://studentshare.org/management/1398591-field-of-project-management-and-how-it-relates-to.
“Field of Project Management and How It Relates to the Project Research Paper”, n.d. https://studentshare.org/management/1398591-field-of-project-management-and-how-it-relates-to.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
dh
dhansen added comment 18 days ago
Student rated this paper as
I didn’t know how to start my research paper. "Project Management and How It Relates to the Project Management Maturity Model" helped me out a lot! Especially the list of content was valuable.

CHECK THESE SAMPLES OF Project Management and How It Relates to the Project Management Maturity Model

Project management maturity model

...? Project Management By Case Study Ferris HealthCare, Inc. Introduction Project management maturity model (PMMM) refersto foundations used by companies to attain success in project management. PMMM consists of five levels, with each level depicting the level of maturity of an organization in project management. The levels are; I. Level 1 Common Language: In this level, a company acknowledges the need for project management and the basic knowledge related to project...
13 Pages(3250 words)Assignment

Project Management individual project

...how industry-standard Project Management tools will be used to ensure that a conversion of the Company’s network of Personal Computers will have their operating systems upgraded from Windows XP (presumably the Enterprise Edition) to Windows 7 (also presumably the Enterprise edition). The main work products from this exercise will be to enable:- a) Planning and monitoring the upgrade. b) Ensuring minimum inconvenience to the staff and clients of the Company. c) Dealing with any issues or problems that arise. d) Acquire any relevant knowledge that will be useful for future work. This will include, for example, the project duration, the project cost, the...
14 Pages(3500 words)Essay

Management Maturity Model

...? Project Management Maturity Model of the of the In this research paper, the researcher will shed light on aproject management maturity model with the help of both practical examples and theoretical hypotheses. The theoretical model will be adjusted to the practical project management experience of the researcher. In the second part of this paper, the researcher will analyze an organizational strategy regarding project management. A brief stakeholder analysis from the viewpoint of a project manager will be an integrated part of this paper. In the last part, the researcher will shed light on quality dimension of a project, and the concept of earned value analysis (EVA) will also be covered. Table of Contents Table of Contents 3... ...
11 Pages(2750 words)Research Paper

Project Management ( Humanitarian Project)

...and is shipped to its destination. Record material shipped: a formal record of all the materials that are shipped or transported is kept in order to keep the material as organized as possible. Collection of data: data on various aspects such as cost, source of the resource being obtained and the staff of the company collects information about the drivers. Maintenance of records: the information that is collected, in the process above, is properly managed in different databases of the company. Analysis of data: analysis of the information that is collected is conducted to help understand how the process of logistics and transportation can further be optimized in future humanitarian...
14 Pages(3500 words)Essay

Project Management: Scantel Project

..., it can lose one third of its profit” (Nichols, 1990). New information and trial and error based development almost always causes an uncertainty in the time base.. (Nukala et al., 1995). So what are the possible solutions to this dilemma? “Risk management is an activity within project management that is gaining importance due to current business environment with a global focus and competition. The techniques reviewed in this paper are used on an ad hoc basis currently. A more risk focused approach is likely to result in an integration of several of these techniques, resulting in an increased effectiveness of project management.”1 Few in the modern...
8 Pages(2000 words)Essay

Project Management: Project Review

...the construction. Besides this, an accident at the construction site also happened. These two and many other challenges played their role in disturbing the towers identity in the initial phase. But risks were taken by the constructors and the developers and the building was finally accomplished. Resource Management: (Ren-Jye Dzeng, Kuo-Sheng Wen, 2005) have explained that Taipei 101 is the largest building until 2004. Resources needed for this project were numerous and were out of the capacity of a single contractor. Specialist contractors for the resources discrepancy were needed. Several strategies were devised for the resource management of the Taipei 101 tower. He proposed a...
11 Pages(2750 words)Essay

Project costing (Project Management)

.... In respect of this case study, it’s imperative that the project appraisal is facilitated so that the resources can be put into proper use. In a project like a construction of say a health facility, there tends to be three major players for the success of such endeavors. These factors are mainly; time, quality and budget. In project management circle, a lot of regard is given to the attainment of the specified quality and this need to be within the stipulated project life so that there is no much deviation of the cost. It is therefore important that before a project like the one in the case study take off, appraisal and evaluation is...
3 Pages(750 words)Essay

Project Finance (Project Management)

...Project Finance (Project Management) To begin with it would be reasonable to provide some background information about the essence of project financeand its role in the provision of large infrastructure projects. Project finance is one of the most important instruments of financial management and corporate finance. It is used to finance development and implementation of the different projects. The role of this instrument just cannot be overestimated, especially, in the conditions of the global financial crisis. First of all, the term “project finance” should be explained. One of the most...
4 Pages(1000 words)Essay

Must demonstrate the understanding of new learning in the field of project management and how it relates to the Project Management Maturity Model

...that are essential to the success of an organization. For any organization to succeed, it must be able to reach out to the terms and approaches described in the maturity model. This paper has evaluated different models and approaches in the process of project management and how they define success of projects. References Brown, C. J. (2008). A comprehensive organisational model for the effective management of project management. South African Journal of Business Management, 39(3), 1-10. Caron, F., Ruggeri, F., & Merli, A. (2013). A...
8 Pages(2000 words)Research Paper

Project Management - Project Report

...Project Management - Project Report Project Management - Project Report The prime objective of the change management process during the refurbishment of the Heathrow Airport was to ensure strict adherence to standardized procedures and methods. This permitted prompt and efficient handling of all the changes. Thus, this necessitated a robust human resources management that ensured proper managing of individuals and teams as well planning. Additionally, proper management of teams combined with good planning minimized the impact of change as the project...
2 Pages(500 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Project Management and How It Relates to the Project Management Maturity Model for FREE!

Contact Us