Types of the Project Management Policy - Essay Example

PROJECT MANAGEMENT Table of Contents Table of Contents 1 Introduction 3 Part 1 3 1.1. Most important factors to be considered in terms of monitoring and control of Multi-Projects and Programmes 3 1.2. Advantages of Implementing Earned Value Management for Multi-projects and Programmes 8 1. 3. Importance of data accuracy in terms of Earned Value Management 10 Part 2 11 2. 1. Discussion of the advantages and disadvantages of establishing a Portfolio, Programme and Project Governance structure within an Organisation like Microsoft 11 Advantages of the Portfolio, Programme and Project Governance structure of the Microsoft 13 Disadvantages of the Portfolio, Programme and Project Governance structure of Microsoft 14 2. 2. Evaluation of effectiveness of Governance Structure for Projects and Programmes of Microsoft 15 Conclusion 17 Reference list 18 Introduction Recently, organisations are managing different types of projects for developing their operations and processional policies. Projects can be defined as a predetermined process or operations that will be specified within a particular time period. It will be having certain scope and predefined resource usage. Projects are the set of action of organisations that are different from the regular operations (Deeprose, 2002). Project management is one of the crucial strategic attribute for the organisations. It encompasses systematic process of accomplishing any project. Mainly, the project managers are implementing information, expertise and sustainable techniques in the project phases. Execution of various projects is more effective and efficient with the help of prior project management policies. Competency of the organisation increases gradually with the help of goal orientated project process. In the current study, the researcher has made an in depth analysis of various project management policies (Akiner, 2014). Part 1 1.1. Most important factors to be considered in terms of monitoring and control of Multi-Projects and Programmes Monitoring and controlling process of multiple projects will be involving sound role of project managers. A project manager will develop certain factors for monitoring and control project. Figure 1: Monitoring and Control Processes of any organisational project (Source: Cagliesi and Petrelli, 2014, p.45) From the above graph, the process of monitoring and controlling of any projects can be obtained. Supervise and control of the project operations Major role of the project manger is to monitor and control different project related process. They collect information from the employees and other project members. Then they measure the performance of the employees and disseminate various information regarding the gaps in performance, in respect to benchmark criteria. This information will aid managers in making more feasible assessment process. These factors will help management to outline tendency of projects (Deeprose, 2002). Forecasting policy of project manager will carry out remedial actions for the project operations. In addition, risk management will be helping organisations in making the growth. Project managers will suggest some remedial actions for developing project operational policies. In addition, anticipatory actions for possible risk facing during the project will be adopted by the project managers. Project management process will also outline different policies like the prediction of project outcome, detection of faults or defects and change management (Fellows and Liu, 2010). Control of incorporated change in the operational policies Project managers must be able to control the changes that are incorporated along with the project operational policies. Managers control the changes in any project so that they are able to merge remedial measures. In this context, managers are making the approval for any sort of operational changes in the project. They can also reject certain changes that would create more risks in the project. Project managers will develop and modify Project Management Plan as per the potential change in the project operational policies (Garrett, 2007). Verification of the scope of different projects Project management should be able to clarify the possibility to the upper level authority. In addition, management needs to validate predetermined goals of the project and set favourable outcomes. Changes of the project deliverables will be outlined in terms of achievements. Suggestions regarding better projects strategies are another scope verification policy for the project managers. Control of the Scope oriented action Global organisations must be able to set some controlling strategies to act as per the scope of the projects. Prior project management will include modification of scope statement of any projects (Lianying et al. 2012). In addition, project monitoring must emerge with different requirements of the project. Project operational strategies must be implementing proper work breakdown structure in order to aid the employees with sequential operational strategies. Participants and management can ask for changes of the project development strategy collectively. Implementing remedial actions will be easy. Project operational process can develop certain measures for the assets the organisation is having (Lock, 2004). Controlling the project scheduling process In order to employ proper monitoring and controlling process in any project schedules must be controlled. Project managers need to upgrade the schedules as per the external and internal forces. Performance of the project related employees must be evaluated. Project action record needs to be assessed so that the more feasibility can be imposed. Project Management process provides highly effective schedules for achieving more success (Linssen and Rachmann, 2008). Controlling the Cost associated with project accomplishment Project managers need to control the cost associated with different projects related action. Organisations like the Nike, Ford, and Mitsubishi are having multiple numbers of projects operating at a similar time. These organisations are using the open market capital to meet the project related expenses. Project budget needs to be controlled with expense estimation. Management should aim to meet the challenges regarding financial obligations. In the post recessional economic condition, organisations must show the prior control of the cost of the projects (Matos and Lopes, 2013). Quality Control measures implementation Managers are concerned about the quality control policies. Employees associated with the project operational process should be checked with certain performance management criteria or processes. Mainly managers are aimed to measure project outcome quality as per the predetermined standards. Quality control depends on the quality baseline set by the project authority (Mehta, 2007). Project operational team management Project management policy of the organisations will employ a set of employees or skilled team. Team performance evaluation is relatively easy than individual employee performance. In addition, big organisations like Microsoft, HP and Honda project managers are collecting feedbacks for evaluating the workplace environment. This policy is helping the management in mitigating the challenges and complexity in the project related operational stages. Therefore, performance of the team and feasibility of achieving the success of the project will gradually increase (Menze, 2013). Creating a report of the project team performance Reporting of the performance of different project related employees is essential. Managers will collect performance facts sheet and information regarding project stages completion. This type of report will outline status of the project along with a progression report. Management of the profit reporting the stakeholders Proper project management will emphasise on the management of stakeholders also. Sound communication strategies will help the project managers in maintaining stakeholder’s demands. Profitability and performance of the projects are developing certain aspects of meeting stakeholders. Managing projects also concentrate on the stakeholder’s aims and objectives (Monnot, 2013). 1.2. Advantages of Implementing Earned Value Management for Multi-projects and Programmes Earned Value Management is one of the major tools of the project managers for supervising “multi-projects”. Managers are adopting this technique to interlink the time management and financial budgets so that the tasks of projects can be executed very well. Earned Value Management will also provide report of project assessment. In addition, it will contrast the fluctuation of operations in respect to baseline plans (Patel, 2008). Earned Value Management is providing more technical support for developing project schedule along with cost planning. With the help of such tools, project managers can cite suitable, well-timed, and measureable information for the project growth. Procurement or supply related management policies can be derived with effective decision making support of Earned Value Management. Earned Value Management advantages and purpose Earned Value Management policies are providing more effective project management for the government arrangements. NASA and many other organisations are adopting these policies (Ponnappa, 2014). In addition, the private sector units are seeking to develop the project performance. This policy will provide more advantages of maintaining more effective projects in respect to the cost incurred for introducing such strategies. Earned Value Management will aid the project managers with statistical data regarding the projects. Project managers are able to calculate the project performance approximately and maintain feasible reporting of growth and status of project stages. Execution of strategies regarding development of projects is more effective. Earned value reports will help the management and firms in maintaining key responsibilities for the project stakeholders. In addition, any sort of transformation requests for the schedules, and cost of projects can be justified (Randolph, 2014). Project managers can forecast the projects outcomes more effectively with the help of Earned Value reports. Moreover, managers can use EVA index in order to contrast the performance of different projects. Mainly, multiple projects of the organisations like Ford, Tesco, and Microsoft are managed through the statistical data. Project management will be able to meet sound evaluation of the different performance attributes (Rovai, 2013). 1. 3. Importance of data accuracy in terms of Earned Value Management Earned Value Management requires feasible statistical data to manage the operations of projects. Feasibility of the projects success will be depending on feasible analytical skills. Moreover, Earned Value Management includes different type of analytical process like “Budgeted cost for work scheduled (BCWS)” that is popular as the planned value of the projects (Song, 2010). On the other hand, “Budgeted cost for work performed or BCWP” technique is outlining the earned value of any particular projects. Cost of projects can be reflected with the Earned Value Management techniques named “Actual cost of work performed or ACWP”. Budgeted cost structure of different projects should be evaluated by the managers so that they can comment on feasibility of cost and expenditure. “Budget at completion” will aid the project managers in terms of ensuring proper expenses and cost incurring techniques (Song, 2010). Mainly, projects managers are able to implement cumulative approach in calculating actual cost associated with the project work. Accurate data utilisation in the Earned Value Management process will aid the management in evaluating the Cost variance or CV. Project managers will be able to calculate variance of cost by deducting the actual cost from the budgeted cost. Schedule variance or SV is gradually collected from deducting budgeted scheduled cost from the actual cost of planned operational process (Tomanek and Juricek, 2015). “Variance at completion” (VAC) is another segment of implementing Earned Value Management. Planned Values of the projects must be contrasted with the efficient data. Project managers of Microsoft can make up-to-date data and statistics of any project. Earned Value Management will make data management of any project from planning to execution stage. Part 2 2. 1. Discussion of the advantages and disadvantages of establishing a Portfolio, Programme and Project Governance structure within an Organisation like Microsoft Microsoft is one of the major American based multinational software providers. In addition, they are producing different type of consumer electronic products and computer peripherals. The organisation is specialised in developing operating systems and office or corporate software. The organisation is having the product range of Windows operating system, Microsoft Office, online Servers, Skype, Xbox products, windows surface, Mobile devices and MSN products. The organisation is using the project management techniques to develop proper project orientation. Project management will aid organisation in making sustainable decision making and obtain the predetermined goals (Wang, 2012). Project management process of Microsoft adopted various tools of controlling and assessing various projects. Portfolio creation of projects, project programme management and Project Governance structures are adopted by the project managers. In addition, managers are able to develop proper criteria regarding cost of project. Organisations like Microsoft need to emerge the project execution strategies along with the business functions. This policy will increase the feasibility of the business policies and growth of market share. In addition, project management of Microsoft will employ certain parameters. Benchmarking parameters will be developed on the basis of scope of projects. The set of the schedules of different project management of Microsoft will identify associated cost, length, route or policies of the projects, employees or project team members (Microsoft.com, 2015). Portfolio project management will be aiding Microsoft in developing the projects from different aspects. This software development organisation will be able to utilise project portfolio management in terms of developing the research and development related projects. In addition, customer service attributes or projects will be interlinked along with the value chain of the software developing process. It is easy to develop new products and services as per the requirement of the global market (Akiner, 2014). New Product Development projects of Microsoft need to have proper control of the strategies in terms of making feasible products. Digital environment of the global software market will outline various elements that will restrict different aspects of the product success criteria. Product development projects will be seeking for the marketing strategies and manufacturing criteria. Moreover, Portfolio, Programme and Project Governance structure will ensure the project managers in terms of developing certain strategic objectives. Project operational process need to be predesigned. On the contrary, finance of the projects is crucial for the success of the high end projects of Microsoft (Microsoft.com, 2015). Advantages of the Portfolio, Programme and Project Governance structure of the Microsoft Workflow administration: Project management of Microsoft will be creating innovative system in order to develop projects. Moreover, systematic orientation of different project procedure will disseminate different operational process among the employees. Workflow of the software development organisations can be evaluated and recorded by the project governance. Organisational resources will get more efficient than the past (Cagliesi and Petrelli, 2014). These policies will make continuous development of the operational policies that will aid Microsoft to achieve the goals of the projects. Managers are aiming for the achievement of predetermined goals for any project. Project team members will be managed on the basis of opportunity aligned with project. Project managers can be utilising directives for developing different type of procedures. In the project governance, it will help the management in terms of meeting the risk of unanticipated outcomes (Microsoft.com, 2015). Cost control policies: Project management policies of the Microsoft aim to set cost control policies. In addition, project controlling process will aid management in terms of cost management. Project managers will be able to control the budgets set before the project planning. Project governance will aid in recognising various complexities. Microsoft will be able to develop on time delivery of projects outcomes. Global software customers of Microsoft will get more satisfied with the operational process by the mean of proficiency (Fellows and Liu, 2010). Employment and use of Productive Staffs Efficient project managers of the Microsoft are required to make sound employment strategies. Proper staffing policies of Microsoft will help it to make new product development strategies which will increase the feasibility of forming skilful teams. Project planning will involve staffing polices for projects. Appropriate employees are assigned with relevant tasks in the projects. (Microsoft.com, 2015). Micromanagement of different tasks Project management policies denote that managers should have the potential of making micro management of the project operations. Micromanagement will increase innovative actions among the project teams. Project managers of Microsoft might have invested major time to control the budgets and cost incurring policy for each product. Quality control is another parameter of involving micromanagement in projects. Project governance of Microsoft empowers on problem-solving attitude of project managers (Garrett, 2007). Disadvantages of the Portfolio, Programme and Project Governance structure of Microsoft Cost of inappropriate communication among project teams: Communication is a vital project management strategy. Project management of Microsoft includes Portfolio, Programme and Project Governance structure. In many cases, linguistic barriers are reducing the performance skills of teams. Thus, workflow development of Microsoft is facing high amount of performance risk (Linssen and Rachmann, 2008). Therefore, the organisation must ensure sound communication guidelines to disseminate project aims and operational strategies. Moreover, miscommunication will lead to state where the project teams will fail to complete the project on time. Information sharing and project related feedback collection is a bit tough (Microsoft.com, 2015). Non stimulating inventiveness among the employees: Microsoft is imposing strict project management with predetermined goals and operational policies. In addition, Portfolio, Programme and Project Governance structure of Microsoft is aiming to have lower risks of failure. Therefore, they are not seeking for any sort of innovative skills among the employees or the teams (Lock, 2004). 2. 2. Evaluation of effectiveness of Governance Structure for Projects and Programmes of Microsoft Microsoft is one of the large companies in the world, operating various projects for developing the workplace, performance and operational flow. The organisation is adopting PRINCE2 methodology for governing their UK based projects (Microsoft.com, 2015). Management and governance of different projects is efficient with the help of the PRINCE2. The management of Microsoft is aiming to govern various projects of different scales (Matos and Lopes, 2013). However, this method will lead the firm to meet different complexity quite easily. Management is facing the complexity of cross cultural factors along with innovative attitudes of the employees. Project management of the Microsoft is based on seven principles of PRINCE2. Principles or the guidelines of the project management will impose controlling measures or practices that will increase the success potential of projects. PRINCE2 based principles will help the projects related to stakeholders, in terms of maintaining welfare and success criteria (Mehta, 2007). Seven PRINCE2 principles that are followed in the projects of Microsoft: Microsoft is imposing the project governance criteria that involve continuous business operations validation. Project justification principles are one of the major governance attributes of Microsoft (Monnot, 2013). Past experience is controlling the potential governing behaviours of the projects managers of the organisations. Learning from occurrence principle of the governance structure will aid the management in terms of managing different risky traits of the organisation (Menze, 2013). Recommendations for improvement project management of Microsoft: Project managers of Microsoft must define the roles and responsibilities of the project teams and persons. Governance structure should be evaluating the team member’s roles and responsibilities. Managers should make more feasible planning, along with that they are supposed to monitor the operational process of employees. Managers might be managing the operational policy of projects, is another project management or governance policy of the organisations (Ponnappa, 2014). In an organisation like Microsoft, project management must have the level of tolerance of risk factors. Every project is having some objectives and project governance will set up certain benchmarks for authority delegations. Governance of Microsoft can use the policy of “management by exception” (Microsoft.com, 2015). Project Governance strategy of Microsoft highlights the definition of the project terms and conditions. Product development projects of Microsoft must be maintaining sound assessment of the quality control of the products. Conclusion In the current study, different types of the project management policy are outlined. The organisations are imposing different type of goals in making the various operational policies. Project teams are increasing feasibility with the help of proper strategic development. In addition, this study outlined monitoring and controlling policy of Multi-Projects management policy. The researcher has also outlined Earned Value Management for Multi-projects and Programmes. Data accuracy EVA was also developed with the help of some organisational perspectives. Advantages and disadvantages of establishing a Portfolio management was outlined in terms of management of the project governance structure. Therefore, the study will be aiding learner with feasible project management strategies as per different strategies. Reference list Akiner, I., 2014. Critical Viewpoints on the Management of Conflict in Multi-National Construction Projects. OTMCJ, 6(2). Cagliesi, A. and Petrelli, F., 2014. Prince2 e guida al pmbok: "questo matrimonio" s'ha da fare!". PROJECT MANAGER (IL), 20, pp.43-46. Deeprose, D., 2002. Project management. Oxford, U.K.: Capstone Pub. Fellows, R. and Liu, A., 2010. Conflict on multi-national construction projects. Proceedings of the ICE - Management, Procurement and Law, 163(3), pp.101-110. Garrett, G., 2007. Earned value management. Vienna, VA: Management Concepts. Lianying, Z., Jing, H. and Xinxing, Z., 2012. The Project Management Maturity Model and Application Based on PRINCE2. Procedia Engineering, 29, pp.3691-3697. Linssen, O. and Rachmann, A., 2008. PRINCE2 - ein prozessorientierter Projektmanagementansatz. HMD Praxis der Wirtschaftsinformatik, 45(2), pp.69-77. Lock, D., 2004. Project management in construction. Aldershot: Gower. Matos, S. and Lopes, E., 2013. Prince2 or PMBOK - A Question of Choice. Procedia Technology, 9, pp.787-794. Mehta, R., 2007. Project management. Jaipur: Aavishkar Publishers. Menze, S., 2013. Projekt-Controlling mit Earned Value und Earned Schedule. Control Manag Rev, 57(3), pp.68-76. Microsoft.com, 2015. Governance. [online] Available at: [Accessed 23 March 2015]. Monnot, S., 2013. Personalizzare il met odo PRINCE2 all'interno di un ambiente di Progetto. PROJECT MANAGER (IL), 15, pp.45-46. Patel, V., 2008. Project management. Jaipur, India: Oxford Book Co. Ponnappa, G., 2014. Project Stakeholder Management. Project Management Journal, 45(2), pp.e3-e3. Randolph, S., 2014. Maximizing Project Value: A Project Manager's Guide. Project Management Journal, 45(2), pp.e2-e2. Rovai, R., 2013. Metodologias Inovadoras para GestÃo de Projetos: Modelo Referencial para Implantation da Itilve atraves da Metodologia Prince2: Estudo de Caso. Revista de Gestão e Projetos, 4(2), pp.252-270. Song, L., 2010. Earned value management. Newtown Square, Pa.: Project Management Institute. Tomanek, M. and Juricek, J., 2015. Project Risk Management Model Based on PRINCE2 and Scrum Frameworks. IJSEA, 6(1), pp.81-88. Wang, J., 2012. Survival factors for Free Open Source Software projects: A multi-stage perspective. European Management Journal, 30(4), pp.352-371. Read More