Concept and Definition of Project Management - Research Paper Example

? Project management affiliation Project management Concept and definition of project management Project management refers to the activities involved in the reaching of a certain objectives in terms of creating a specific portfolio. According to Harrison & Lock (2004) project management is an art of creating single management capabilities to achieve an objective portfolio based on set goals and objectives. The activities involved in project management include planning, motivating, organizing and controlling the provided resources to fulfill the set objectives. Project management is also governed by time allocated to achieve a specific goal or objective. A proper management activity involves attaining of a goal within a specific time allocated for the completion of the activities. In management of projects, creation, implementation and measurement of results determine the effectiveness of a project management strategy (Lock, 2007). Additionally, project management involves the creation of outstanding technical skills and distinct management strategies. Each project management objective has a concept phase that has general guidelines regardless of the set goals and objectives. The concept phase in project management involves; Development of the concept statement Completion of the business analysis Review of the project concept Project concepts are principles on which a project is based. In any project management activity concepts refer to the guidelines which are set aside for mangers to follow. For instance, there is a concept which requires originality or reliable sources to be used in the creation of assumptions and results. According to Cooke-Davies (2002) project management concepts create the guidelines which govern the direction of decision making by project managers. The author further argues that project management concepts change depending on the scope of the project portfolio. For instance, the concepts used in project management portfolio in psychology and business may not be similar (Lock, 2007). History The implementation of project management strategies in organizations dates back to the 1950s. Prior to this development, engineering projects in the 1900 were controlled by engineers, master builders and architects. In the 1950, organizations started practicing complex project management project in civil engineering. In words by Loch (2000) these complex civil engineering projects required more than just supervising from experienced architects. The author further argues that the activities involved in the projects required single project management capabilities that had to be monitored in each phase. This created the concepts that initialized the activities involved in project management. Project management then grew as a discipline to other fields like heavy defense activity, construction and engineering. In the growth of project management two figures played a major role in this particular growth. They are Henri Fayol and Henry Gantt. At the same time there were also developments in project scheduling models, cost management strategies, technology of cost estimating and engineering economics. The growth of project management was further boosted by the creation of the American Association of Cost Engineers. This body aided in cost estimation strategies, cost estimating, planning and scheduling portfolios (Stevens, 2002). In 1969, there was the creation of project management institute in the USA. The body publishes A Guide to the Project Management Body of Knowledge which is describes the practices used in most projects and often (Dinsmore et.al, 2005). Project management basics There are five basic of project management. These five basics are connected together strategically to bring out the whole process of project management. These five basics are represented in the diagram below. The process commences at initializing which involves project feasibility and project initiating. Then the process advances to planning which includes formulating of schedule task lists, resource leveling charts and the Gantt charts. In executing and controlling the activities include developing deliverables, issue lists, task lists and bug lists (Kousholt, 2007). The closing basic requirements include closeout documents, payment and customer satisfaction assessments. Management Methodologies There are many methodologies in project management. Project management specialists have cut down these numbers of methodologies to a focus more basic methodologies. These basic methodologies include; 1. Traditional project management. This is a step-by-step strategy that goes through the project’s five stages – initiation, planning, execution, monitoring, and completion (Miia & Lehtonen, 2005). Each stage is disseminated and only commences when the initial step has been concluded. This method is rampant in construction where the process is linear and not much affected by fluctuating activities in the project 2. The critical path method (CPM). In this methodology each project portfolio is associated with the time and resources allocated. In this methodology, a project manger aims at achieving the set objectives by using the provided resources and within the specified period of time. According to Miia & Lehtonen (2005) the main objective of this methodology is to increase time efficiency. 3. Critical chain project management (CCPM). Different from the critical path methodology this particular methodology focuses more on resources rather than time. In words by Hamilton (2004) this methodology is more effective when dealing with project s with fewer resources but with no strict timelines. 4. Event chain methodology (ECM). This methodology is used in projects with numerous significant activities that initiate chain of events. Since these events involve high risks they should be managed effectively. At the completion of each event then another event must initiated and managed effectively (Miia & Lehtonen, 2005). Project management life cycle The life cycle of project management goes through four steps and a control system. These processes are strategic in the continuity of any process in the project. The process commences at the creation of projective objective to the analysis of the results. The processes include initiation, designing, execution/monitoring and closing. Initializing of the project involves creation of objectives and goals to be achieved by the project. It also involves putting together the required resources required to launch the project. In designing, the project is divided into phases that are strategically tackled depending on their influence in the whole project. It also involves coming up with the appropriate tools and instruments to be used in the project portfolio (Miia & Lehtonen, 2005). Execution and monitoring of the project involves putting into implementation the design strategies and analyzing the performance of the used tools and instruments. Closing involves the analysis of the results of the entire project. This is mostly done by measuring the customer satisfaction levels. Project management approaches Approaches used in project management are all aimed at shaping the used methodologies. Each methodology applies different approach in its implementation strategy. These approaches include iterative, lean, phased approaches and incremental. Regardless on the difference in each of the following approaches, each of them addresses the issue of cost, time, resources and completion of the set aside objectives. In words by Kousholt (2007) approaches require proper implementation strategies depending on the strength or weakness of a project portfolio. The author gives an example of projects with limited resources which require maximization of the limited resources by maximizing on the fact that the time to be taken is not specified. Project management tools and technique Project management tools and techniques are based on the design of a specific project portfolio. The design of a project is great determinant of the technique or tool that will be used in the activities in the project. Morgen (2003) argues that the design of project portfolios generate the instrument to be used in completion of the project. For instance, a project may have a design based on time rather than resources. In this design the most appropriate instrument to use is the CPM. This may be different to a project using CCPM that is based on maximization of limited resources rather than working under a specific timeline. References Cooke-Davies T., 2002. The ‘‘real’’ success factors on projects. Int J Project Manage 2002; 20 3:185–90 Dinsmore, P. et.al., 2005. The right projects done right. London: John Wiley and Sons Hamilton, A., 2004. Handbook of Project Management Procedures. Boston: TTL Publishing Ltd Harrison,L. & Lock, D., 2004. Advanced project management: a structured approach. New York: Gower Publishing Ltd Kousholt, B., 2007. Project Management –. Theory and practice. Munich: Nyt Teknisk Forlag Loch C., 2000. Tailoring product development to strategy: case of a European technology manufacturer. Eur Manage J 2000;183: 246–58. --------- 2007 Project Management. New York: Gower Publishing Ltd. Miia M & Lehtonen, P., 2005. Role of single-project management in achieving portfolio management efficiency. Helsinki: Helsinki University of Technology Morgen, W., 2003. Fifty key figures in management. New York: Routledge Stevens, M., 2002. Project Management Pathways. Association for Project Management. Sydney: APM Publishing Limited Read More