Microsoft Project and Other Open Source Project Management Tools - Essay Example

Project Management Essay Introduction The aim of this essay is to identify, compare and evaluate Microsoft Project with other open source project management tools. The tool identified in this case is OpenProj which is commonly used in project management activities. It is established that the two tools have common features and applications hence potential for use in milestone and schedule estimation (Kerzner, 2004). They also differ terms of application and specifications on the computer. They cannot manage risks or estimate expenses. In addition, the essay reflects on the superior role of project management in assigning activities and roles, adopting best practices through continuous learning and change management (Hillson & Webster 2004). The critical areas are data collection, project performance, development of action plans, implementation of actions, and progress monitoring and meeting functional goals. Comparison and evaluation of MS Project and OpenProj Description MS Project OpenProj Capabilities Work and Manage effectively with teams. Track customer issues and bugs.  Schedule activities, milestones, deliverables, and employee time Manages several projects concurrently which assist in planning and implementing several projects with direct influence over one another (Gido, 1999). Only when they are needed resources are deployed to a project hence improving effectiveness, efficiency and cost reduction. Shares and keeps all the documents you need for a project with everybody involved (Kerzner, 2004). One can do that in a single place where you can search and tag easily. Task management features can help plan the daily tasks. Work and Manage effectively with teams. Track customer issues and bugs.  Schedule activities, milestones, deliverables, and employee time Management of several projects concurrently which assists in planning and implementing several projects with direct influence over one another (Uyttewaal, 2002). Only when they are needed resources are deployed to a project hence improving effectiveness, efficiency and cost reduction. Shares and keeps all the documents you need for a project with everybody involved. One can do that in a single place where you can search and tag easily. Task management features can help plan the daily tasks (Westney, 2009). Limitations Cannot manage or analyze risks. It is unable to track expenses or create budgets. It cannot implement flexible Project Management Strategy which is an agile method of quick creation of products, so that one can get feedback early on and put the product in front of users (Westney, 2009). It cannot implement flexible Project Management Strategy which is an agile method of quick creation of products, so that one can get feedback early on and put the product in front of users. Cannot manage or analyze risks. It is unable to track expenses or create budgets. Project management features Baseline Calendar Critical Path Method Events Interactive Gantt Charts Milestones Project Templates Recurring Tasks Scheduling Task Management Attach Files Calendar Events Interactive Gantt Charts Milestones Project Priorities Project Templates Scheduling Task Management Task management features Add Contacts Group Tasks by Projects Task History To-Do List Organize Versions Sub-stories User Stories Budget and expenses Forecast Budgets Track Project Hours Approve Expenses Create Budgets Track Expenses Collaboration features Follow Tasks RSS Feed Team Calenders/Timelines Forums Social Collaboration Platform Team Calenders/Timelines Web Conferencing Wiki Resource management features Allocate Resource by Skill Sets Allocate Resources Time Tracking Track Costs Allocate Resource by Skill Sets Allocate Resources Resource Directory Reporting features Dashboard Project Reports Time Reports Dashboard Issue tracking features and notifications Bug Tracking Ticketing System Notifications Email Notifications Notifications Analysis of the techniques MS Project has baselines to determine the original scope, schedule and project costs hence providing the magnitude of deviation from the initial estimates. It also has the Critical Path Method (CPM) which determines the longest path of the activities, earliest and latest time for activity start and finish. Initiatives to start later can be identified without a compromise of the overall project completion dates. Interactive Gantt charts show the schedule of the project with bars standing for tasks and length representing completion times. Scheduling plans resources in a logical manner to all the projects (Palmer, 2009). The possible reports are generated to cover project budgets, resources, deadlines and completion times. The project reports and time reports are the two features in MS Project that are absent in OpenProj. Task management allows for assigning contacts to certain tasks, creating and grouping of tasks to projects. On can also log into past projects to read what was done previously and finally organize day’s activities using a to-do list easily. The task management features include adding contacts, notes and task history. E-mail notifications can be viewed in the in-box and so are notifications (Thieraus, et al. 2009). MS Project utilizes NPV and IRR techniques to help forecast budgets and determine the worth of establishing the project. Project time (hours) are tracked to know the worker hours and aid in controlling time of undertaking the tasks. Employees will also know how to best manage their time in future. OpenProj also utilizes the various techniques namely Gantt charts showing milestones and project priorities. It schedules resources to the project just like MS Project. Task management organizes daily tasks into the to-do list (PMBOK® Guide, 2005). However, it does not provide the project and time reports. The unique features in OpenProj are capabilities of creating a budget for each project, approving project expenses, and tracking or efficiently managing project resources. It has a dashboard that shows charts and graphs within the same page. The resource management benefits are allocation of resources based on skill sets, allocation of resources like money and employee time and listing of available resources. Notifications are set to keep tabs on projects and tasks. Tracking of bugs is possible so as to ensure bugs get fixed in a timely fashion while ticketing system tracks employee issues (Mulcahy 2003). Customers can reach the project manager with problems or suggestions to improve the project. Overall evaluation shows that MS Project has more features and techniques like Gantt chart, Critical Path Method, scheduling and task management which are least emphasized in OpenProj. MS Project is also capable of showing the resource usage and leveling to be later viewed as reports. Reflection on Project Management practices Project management is a discourse that involves people, activities, systems, leadership and skills. I now appreciate that project management is a field that relates the project initiation functions to close down or review. I have noted that initiation is followed by planning then implementation, monitoring and evaluation and project closure in that order. I realized that success of any project should have all the stakeholders in the initial planning must be brought on board. I felt that stakeholders are critical entities that can stall or deliver the project. I learned that projects have to be competitive, efficient, and financially beneficial to all the stakeholders involved. I also noted that initial planning of projects requires identification of activities, sequencing, preparing estimates and presenting the plan (Kerzner, 2004). I believe that project briefs, teams, approaches and plans are crucial in the initiation stage. Others issues are cost or benefits analysis, risk determination, preparing project controls and communication plans. I learned that it is the project manager and its staff who have the vision of the project and where they want to be in future. I noticed that project stakeholders have unique roles and responsibilities. For instance, I learned that the stakeholders are the project team who deliver the project, management to guide and direct the project and end users likely to be beneficiaries. I also noted that there are suppliers who provide materials or inputs and legislative bodies who offer rules and regulations to the project. I noted that the staff have I realized that if the project is not well managed, the scope will be affected causing a scope creep. This affects the constraints such as time, cost and quality (Mulcahy 2003). I noted that there has to be a justification of the project and setting a base for measuring on-going project progress. I have learned that project success is measured against the mission and objectives which are subject to change. I realized that the critical success factors must be achieved at all circumstances though each stakeholder may have different success factors. I have learned that success factors need to be measured in objective and discrete terms. I feel that the issues of benchmarking in project management are supreme in the way it ensures correctness of objectives and internal actions crucial in meeting the objectives. I now know that benchmarking involves planning, analysis, integration, action and maturity. I have learned that benchmarking is essentially quantifying the value of project management to help the project outperform those of the rivals, and adopt world class practices (Bogan & English, 2004). I know that direct observation facilitates breakthrough thinking and helps mitigate risks connected with change from where others have succeeded. I noted that metrics plays an important role in benchmarking by i) establishing project performance in comparison to past projects, ii) establishing whether the performance of the project is improving or not, iii) assessing the performance by comparing with other projects with similar focus and iv) by monitoring the effect of an initiative. I noted that benchmarking of projects is both subjective and empirical in relation to inputs and outputs. The empirical nature of the project assumes specific figures or discrete numbers such as a project with a risk score of 21 is worth undertaking that with a risk score of15. I realized that the risk profile of the project directly affects its Return on Investment (ROI). For instance, the project with a lower risk score of 15 has lower returns since it looks safe in the long-term to the investor but not rewarding in the short term (Mulcahy 2003). I also noted that right from determining costs, schedule and quality numbers have to be involved. For example, network analysis must provide the exact duration of the project and cost estimates in days or weeks and in $ or AUD respectively. I now know that the benchmarks for ROI in projects depends on the techniques of financial appraisal applied. For instance, I learned of the payback method, net present value, and internal rate of return. I realized that payback method is in the short term while internal rate of return estimates cash flows, period and discounting factors. Overall, I noted that the method of determining income streams recognizes that the project has certain degree of risk that the needs to be considered. For example, I learned that any two projects with different initial investment of; project A: $10,000 (Y1-$6,000, Y2- $3,000 and Y3-$4,000) and project B: $6,000 (Y1-$3,600, Y2- $1,600 and Y3-$2,800). I found that using the payback method, project A takes 2.25 years and project B takes 2.29 years which are three years if end of year cash flows are assumed. I learned that risk methods are basically empirical especially if using the scoring method. I noted that projects face risks which must be identified, analyzed, mitigated and controlled or documented. I also learned that projects span disciplines like finance, commerce, contracts, politics, operations, economics and environment. I noticed that these risks have to be measured in terms of probability of occurrence, level of impact and hide-ability. I realized that risk planning and treatment can assume various means like avoiding, mitigating, transferring and isolating. The treatment measures are insurance, use of buffers, outsourcing, pilots and trials, and scale of activity (Bogan & English, 2004). I noted that the Failure Mode Effect Analysis (FMEA) has three features of each pathway or activity. I learned these are likelihood (L), severity(S) and hideability (H) which are basically the level of periphery. For instance, I realized that when each element is rated from a range of 1-10 so that listing of customer requirements can have a rating of L (4), S (3) and H (6), the FMEA risk score will be 72. Power outages can have L (5), S (5) and H (4) which gives a FMEA risk score of 100. Power outages will have more effect on the project than listing of customer requirements (Bogan & English, 2004). I noted that these methods are more numerical hence subject to bias as they not truly scientific. I also learned that benchmarking is about applying various metrics in determining costs and durations of projects. I learned that there are quantitative and qualitative approaches such as Monte Carlo Simulation, Programme Evaluation and Review Technique, Sensitivity analysis and expected value. I felt that there are approaches and responses to risks. These opportunities are looking for them despite outcomes, negative to positive, random good fortune and opportunities for response (Camp 2007). I learned that the responses are reduction, prevention, contingency, acceptance and transference. I noted that to do this then constant updates are required for internal and external risks. I have realized that benchmarking provides an underlying goal of improvement. I believe that finding the project management capabilities requires exercise of dimensions like process effectiveness, project effectiveness and process maturity. I learned that rigor, level of performance and quality of an overall success is defined by process quality. I realized these are a measure of the capability and quality of the process. I felt that process effectiveness may not evaluate process quality on its own sake, but identifies the relevance and usefulness of the process. I realized this is essential to support the overall culture and conduct of the organization. I asked questions on the rationale of processes and the appropriateness of the type and size of projects being undertaken. I learned that the effectiveness of projects is largely based on deliverance of their objectives. I noticed that they look into the traditional project areas like resources, schedules and costs when compared with the original baselines. I learned that the project has to deliver its outcomes and the expected scope. Regarding subjective benchmarking, I realized that people are important project management resources. The project needs to optimize on the number of staff and apply suitable personnel ratios. I noted that the morale of employees can be measured using the Employee Satisfaction Index (ESI) which uses percentages to represent the weight. For example climate survey results may be 40%, rate of complaints or grievances at 20%, voluntary turnover at 24% and transfer rate at 5%. Productivity of the project can also be measured in hours. For instance, in each 40 hours worked, an project employee may receive shares redeemable at the project end of the budget, schedule and other factors are met. Cash incentives can be awarded if a project A is ahead by weeks, productivity increased by 20% and budget earned value saved more than $5,000. Conclusion Open source project management tools are essential in managing and directing the project scope. The use of MS Project is critical than OpenProj as seen on the features of each tool. The essay has established that both tools are on demand when it comes to assessing risks, tracking projects activities, assigning responsibilities and managing the project constraints (Project Time Management 2008). It has also obtained that MS project provides additional services like interactive critical path method and Gantt chart as well as resource usage and leveling. Benchmarking is important to any project as it establishes the metrics to measure the project constraints, project cycle, and employee morale and risk management and post project reviews (Fifer, 2007). Project management is propelled by stakeholders who have unique roles and responsibilities in achieving project objectives. Reference list Bogan, C E & English, M J 2004, Benchmarking for best practices: Winning through innovative adaptation, New York, NY: McGraw-Hill. Camp R 2007, The search for industry best practices that lead to superior performance. Productivity Press. Fifer R M 2007, Cost benchmarking functions in the value chain. Journal of Strategy & Leadership, 17(3), 18-19. Gido J 1999, Appendix A: Project Management for Software. In Successful Project Management (p. 334). Cincinnati, OH: South-Western College Pub. Hillson D & Webster R M 2004, Understanding and Managing Risk Attitude. Murrey Press. Kerzner, H 2004, Project Management: A Systems Approach to Planning, Scheduling and Controlling, Eighth Edition, John Wiley & Sons. Mulcahy R 2003, Risk Management: Tricks of the Trade for Project Managers. London. Palmer J 2009, Change management in practice: Why does change fail? Canberra. PMBOK® Guide 2005, Newtown Square, Pennsylvania, Project Management Institute, 3rd Edition. 2004, p. 16. Project Time Management 2008, In A guide to the project management body of knowledge (PMBOK guide) (4th ed., p. 145). Newtown Square, Pa: Project Management Institute. Thieraus R J et al. 2009, Project scheduling: PERT/CPM. Project management handbook. Yale: Blackwell publishers. Uyttewaal E 2002, Dynamic Scheduling With Microsoft(r) Project 2000: The Book By and For Professionals. New York. Westney R E 2009, Computerized Management of Multiple Small Projects. Boston. Read More