Project Management - Integral Part of Organizational Investments Decisions - Essay Example

PROJECT MANAGEMENT by Student’s name Code+ course name Professor’s name University name City, State Date Introduction Project management is one of the most important concepts in contemporary business practice as companies and major organizations are expanding at a very high rate. One of the primary reasons for the development of new projects is the fact that organizations are dynamic entities that change from time to time following changes in such macro variables as technology and economic factors (Anderson 2010). Technology may render a machine outdated and obsolescent. When this happens, the organization has to either upgrade its machinery and equipments or purchase new pieces of technology. It is imperative that the organization acquires the latest and most innovative machinery and equipment so as to keep up with the existing market conditions and perhaps gain competitive advantage. Project management is fundamentally concerned with the coordination of all those activities that relate to the particular project and those that are particularly meant to ensure success of the project. It is important to note that the activities involved in project management are interrelated and any change in one of the activities affects all the others in terms of time, cost and other resources (Trietsch & Baker 2012). The projects that are managed within an organization vary in size and type. There are long term projects whose lifespan extends beyond one financial period whereas the short term projects are those whose lifespan is less than an accounting year. This paper seeks to explain the various project management tools that are employed in the management and running of technology-based projects, in light of a company that is undertaking an organizational overhaul in the operating system. The Gantt chart Invented by Henry Gantt ninety five years ago, this is a project management tool concerned with the planning, coordinating and laying a track on particular activities of a project (Besner & Hobbs 2012). The chart is a presentation indicating the relationship between time and activities. The chart is drawn in such a way that the time or duration of the project, also known as the project life cycle is on the X-axis. The horizontal axis represents the projects predicted life cycle while the Y axis, commonly referred to as the vertical axis, represents the activities involved. For instance, if carrying out investigations relating to the report is the first step; such a step is represented by drawing a horizontal bar on the chart horizontally at the top of the chart. It is drawn indicating the approximate time it can take. This is to say that the project life cycle which is at the horizontal axis is broken down into weeks and months depending on the estimated life of each stage. It is important to remember that the Gant chart does not indicate the relationships among the activities. As such, they cannot indicate the dependencies among the processes and activities. In this particular case, the project manager could employ the Gantt chart to estimate the time needed for all the activities. Since the organization does not intend to disrupt the activities of the other stakeholders and remaining members of the technical support unit, they can draw the Gantt chart in such a way that some activities will take place simultaneously (Chou 2012). The activities can take place concurrently since some of these activities are independent of each other. In the event that the activities depend on one another, they cannot take pace concurrently since one relies on the outcomes of another. In this particular case, the project manager can arrange the activities in such a way that the training and the installing of the operating system take place concurrently. It is worth noting that since the workers and employees of the organization have been using the windows XP operating system, some of them may require training and briefing on how to go about the windows 7 operating system. The project manager can as well use the overlapping property of the Gantt chart to cater for the needs of the technical support unit. The diagram below shows the grant chart for the project over the one year time line. Duration M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12 M13 M14 M15 M16 M17 M18 M19 M20 Activity A 20 B 9 9 9 9 9 C 15 15 D 13 13 13 13 E 20 20 F 14 14 14 14 G 12 12 12 H 15 15 I 15 15 15 15 Total: 369 20 9 9 9 9 24 28 13 13 33 34 14 14 26 12 27 30 15 15 15 Logic network This is a set of connections that that is either a part of a larger network or contains smaller networks, which can be used to indicate the series of activities over the life cycle of the project. The logic network indicates the interrelationships among the activities of the project and shows which activity follows which one in a logical manner (Kumar 2005). This network indicates the dependency relationship among the activities of the project and can be adjusted from time to time depending on the dynamics in the factors determining the smooth running of the project implementation. The logical network can as well be applied in determining the milestones of the project. Establishing the milestones of the project helps the project manager identify the critical path. Through he critical path evaluation, the manager is capable of allocating time properly since the critical path analysis method can effectively indicate the shortest time to be taken in carrying out the planned activities effectively. In this case, the project manager can use the logic network to obtain very important relating to the effect of the implementation of the new operating system on the performance of the employees. The logic network can as well be used in preparing schedules and budgets since it eliminates the unnecessary activities through identifying the critical path. The critical path is the most effective sequence of activities in terms of time and resources. The logic network can as well be used in planning how the machines being handled can be formatted concurrently in the various locations (Monhor 2011). The time plan of the manager draws a great deal from the logic network since such network is a summary of the activities that take place at all stages of the project life cycle. The logic network can help reveal such important information as unforeseen disturbances and predictable pitfalls. The manager of the project can easily find an appropriate starting point by linking the preliminary arrangements to the desired results of the project. The intermediary activities are as well taken into consideration since such activities are the determinants of the success or failure of the project. the logic network is given in the diagram below. Battilana, J & Casciaro, T. 2012. Change Agents, Networks, and Institutions: A Contingency Theory of Organizational Change. Academy Of Management Journal, 55 (2), p381-398. The PERT chart The project evaluation and review technique (PERT) is a method of assessing the projects activities with the aim of establishing the sequence and order of events (Cann & Brumagim 2008). The method, which employs various scientific and mathematical methodologies is said to be most effective when used together with the critical path method. The PERT chart is as well used as a method of remedying the inefficiencies of the Gantt chart. By analyzing the tasks that are involved in the completion of a project, the project manager can establish the time of completion of each task as well as that of the project. This tool of managing projects is applied in coordinating, scheduling and organizing the activities of the project. The projects activities can be carried out simultaneously and this will easily facilitate the elimination of the dummy activities and execution lines. Unlike the Gantt chart, the PERT chart indicates the dependencies among the activities. This is to suggest that the outcome of one activity depends on the preceding activity. This project management tool is easy to interpret compared to the Gant chart. By establishing the relationships among the activities, the project manager is capable of implementing the windows 7 operating system without interfering with the normal operations of the business. The PERT chart can help the project manager evaluate the impact of the implementation activities on the normal activities of the organization (Merrell 2012). The manager of the project should indicate the critical path on the chart so as to establish the departments that are affected in one way or another. Similarly, the manager can save time in the implementation activities through adopting concurrent running of the programs and activities. As stated earlier, some activities are capable of simultaneous execution. This way, costs are reduced and time is saved. The critical path method is used to complement the PERT. This is to say that during the implementation of the project, the manager can be in a position to plan in such a way that some activities will not be affected. The PERT formula is given as: PERT Weighted Average = optimistic time + 4 * most likely time + pessimistic time 6 The figure below shows a sample pie chat (Besner, C & Hobbs, B. 2012 The product breakdown structure (PBS) This is some kind of structure that takes the form of a hierarchy indicating the sections that make a project achievable. This hierarchy breaks the projects down into various parts and sections. These sections are then analyzed and evaluated. The major objective of the analysis and the evaluation is to establish the amount of time needed for the each section (Besner & Hobbs 2012 b). Additionally, the analysis is capable of helping the manager estimate the requirements of the project in terms of finances and such resources as the human resources and machinery. The breakdown as well enables the manager determine the effectiveness of the order or sequence in which the implementation of the project is bound to take place. The use of this hierarchical structure enables the manager of the project identify areas of potential weaknesses. This in turn becomes useful to the manager in the sense that he can be in a position to make contingent plans. These are used to mitigate chances of total failure in the event that emergencies have occurred. In our case, the manger of the Windows 7 project can break down the whole process into six steps. These steps or sections are interrelated and take place in a sequence. Perhaps the most important and primary step is the groundwork investigation (Patanakul 2010). This preliminary section of the project implementation helps in providing the manager of the project with adequate information concerning possible interruptions and change in the morale and attitudes of the workforce. The second step would be to write a report on the findings of the prelude. These would be useful in planning the actual implementation of the project. The next step would be to interview the employees of the institution, especially those using the computers directly, with the aim of establishing the potential outcomes of the process. From the information given by the respondents, the project manager is capable of guiding the implementation team through designing a training program. All the training needs of the employees must be addressed in the program. The training will take place on the use of windows 7 under the supervision of the project manager. After training which is concurrent with the implementation, evaluation will be done. Evaluation will be aimed at establishing whether or not the implementation and training were effective and efficient. After such evaluation, the project manager draws the final report on the project. The report explains how successful or otherwise the project is. Diagrammatically, the PBS can be given as: Battilana, J & Casciaro, T. 2012. Change Agents, Networks, and Institutions: A Contingency Theory of Organizational Change. Academy Of Management Journal, 55 (2), p381-398. The Work breakdown structure (WBS) This is a structure in the form of a hierarchy indicating and evaluating all the activities necessary for the successful completion of a project. This structure forms the basis for planning. This is to say that the plan designed by the manager and the project implementation team draws a lot from the structure. This structure is similar to the Product breakdown structure but this one is more concerned about the breakdown of the actual project (Quade & Birkenkrahe 2012). This is to say that the manager of the project gets into the finer details of the project and comes up with micro parts which are then assigned to the various parties according to availability and technical competence. For the implementation of the windows 7 ultimate operating system, the project would be divided in such a way that there will be an individual or couple of individual concerned with the installation of the program. There will be another group concerned with the sole duty of installing compatibility software and finally, there will be another individual or team concerned with the installation of such professional packages as the Microsoft suite and training the personnel. The Work breakdown structure (WBS) (Wickenburg & Cronin 2011). The work breakdown structure is as well concerned with the brainstorming of ideas concerning the whole project. The parties involved in the brainstorming sessions include the employees, the installing personnel, the manager of the project and other stakeholders (Sage et al 2010). The brainstorming session is aimed at coming up with the scope of each and every section of the project. This means that the level of detail for all sections of the project is laid down in advance to help in the planning of the project. It is important to note that this structure is not a plan but rather a hierarchy of deliverables that are needed for the effective completion of the project. Additional project management tools In addition to the above discussed tools of project management, there are many other tools that enhance the effective completion of the project. These are discussed as: The project plan The project plan is one of the most critical tools of project management. The plan is an outline of that which is supposed to be done. The plan, which is a draft of the projected activities, indicates the amount of time required, the level of skill required as well as the number of personnel (Quade & Birkenkrahe 2012). The plan answers the questions: when? Where? What? Why? in relation to the project. As such, it determines the duration, the amount of funds, the number of personnel as well as the level of professionalism required. Planning projects can be done using such software as the Xplanner. This software is fed with the instructions according to the nature of the project and it brings out a plan that can effectively be applied in the implementation of the project to achieve minimal wastage of time, money and resources. Budget A budget is a quantitative plan indicating the expenses and projected revenues. It shows how the organization intends to raise funds that will keep the project running without any hiccups (Umai & Lu 2011). In this case, the manager of the project would, in consultation with the financial manager, come up with a draft indicating the amount of financial resources required to replace windows XP with the proposed windows 7 Ultimate operating system. This means that they would come up with an estimate of the funds required to source the software and other associated plug-ins and programs. In estimating the costs it is advisable that they take into consideration such non financial costs as the opportunity cost and the cost of time. Among the primary expenses associated with this project are; direct labor, indirect labor such as training costs, costs of transport and out sourcing costs. The projected revenues may not be directly linked to the change in operating system that are likely to be seen in the increase of company profit resulting from the increase in effectiveness and the performance of the white collar work force. Other merits that may accrue the change in the operating system are non monitory in nature and hence cannot be indicated in the budget. Such benefits include efficiency among the members of staff, enhanced external correspondence as well as improved internal communication. Another primary benefit that may accrue to the use of windows 7 is the fact that the organization may be in a position to adopt innovative technology and novel techniques of going about business. Such benefits are likely to give the organization competitive advantage. This means that it will be able to handle business transactions more effectively. Time sheet The time sheet is software that is used with such software as the task juggler to come up with a schedule and a time frame within which the project should be evaluated and executed (Wickenburg & Cronin 2011). The time sheet breaks down the projects life cycle into various sections depending on whether the project is a long term project or a short term venture. In the event that the project is long term in nature, the time sheet can break down the life cycle into months quarters or weeks depending on the number of activities, deliverables and variables involved. In our case the manager of the project would break down the life cycle of the project into six parts of uneven length. This would include the initial couple of months which would be dedicated to preliminary investigations and other prelude activities. The time sheet would be programmed in such a way that the following couple of months would be used on the preparations of reports and administration of interviews. The third and perhaps the most important section would need four to five months to be used in training and instructing the existing personnel who are in contact with computers. The following four months would be used in the evaluation, analysis and assessment of the project. The last one month would be used in the preparation of the final report. This report would communicate the success or otherwise of the project. Risk management Risks are unforeseen disturbances that can, at times, be predicted with a considerable degree of accuracy. Even so, most of the risks are not predictable and are associated with adverse effects on the project. An organization has four ways of responding to risks. The first of the four is to accept the risk. This response is adopted where the risk is considerably minimal and its effects are non consequential. The second response is to mitigate the risk (Yaghoubi & Noori 2011). This is a precautionary measure that entails deliberate efforts to minimize the adverse effects of risks. This measure is employed where the risks are reasonably foreseeable another response to risk is to transfer the risk. This entails effort to shift the effects of risk to other parties. The last response to risk is to avoid the risk. This is a pessimistic approach to risk but is recommended where the project is so much sensitive in nature. The most appropriate response to risk for such technology based projects as the one on our case is to mitigate the risk. The risk involved in our case includes breakdown of computers, lost of data, interruption of malicious computer programs such as computer viruses and Trojan horses. The most ideal way of mitigating the negative effect of such outcome is to employ such tools as protective software like anti- virus software and fire walls. In our case the project manager would handle risks using various tools but following the common procedure which entails six steps. The first step is the identification of the uncertainties. This takes the form of a detailed study of the project and the project’s objectives and goals. Upon identification of the risks they are categorized according to nature severity and possibility of occurrence (Yakhchali 2011). Identification of risks can also be carried out through analysis of past experiences and reference to past records. The next step in the risk management process is the analysis of the risks. This is the process of evaluating the possible impacts of the risks on the project (Yakhchali 2011). This gives the project manager a ground for planning responses to the projected risks. Analysis focuses on the extent to which the risk can adversely affect the outcome or the success of the project. The analysis can as well enable the project management team estimate the point in time at which the risk is likely to occur. The next step in the risk management process is prioritization of risks. The identified risks are accorded attention depending on their probability of occurring such that those risks that are more likely to occur are given much attention and allocated more resources (Arora & Khazanchi 2010). The attention given to the risks also depends on the projected impact on the project. This is to suggest that those risks that are likely to have adverse effects on the project are considered more seriously than the containable risks. Prioritization of risks forms part of the information that is used in planning the whole project. The prioritization of risks call for the efforts and inputs of risk experts since discretion can have detrimental outcomes. In our case the manager of the project should prioritize those risks that are more likely to affect the data and programs stored in the computers whose operating systems are undergoing an overhaul. The next step is risk control. This is also referred to as mitigation of risks if it comes before the implementation begins. Risk control entails deliberate efforts by the stakeholders of the organization and the project management team to curb the adverse effects of the risks (Sharif &Rozan 2010). In the event that the risk has already occurred, risk control seeks to remedy the negative effects of such risks. Risk control as well includes efforts to prevent future risks of the same nature. In our case risk control can take the form of using precautionary measures like the installing of anti- virus programs and the adoption of backup systems. These two measures are likely to prevent the breakdown of software and lose of data. The final steps are planning for emergencies and measuring the risks. Planning entails the preparation of contingent plans Project Management Overview Project management is a discipline and a specialty concerned with the administration and overseeing of both short term and long term ventures (Battilana & Casciaro 2012). It is a process that governs the projects life cycle from the initial stages to the evaluation and reporting stages. The procedure begins with defining the project. Project definition includes the identification and preliminary investigation efforts. Project definition provides an outlay on which the manager relies in planning of resources and time. After the identification of the project, comes the planning stage. Planning entails the drawing of projected activities and resources. One such plan is the budget. As mentioned above, a budget is a quantitative plan concerned with monetary aspects of the project. The next step in the project management is the management and control of risks. This takes the above discussed detailed multi- step process. After the risks have been managed and controlled, the primary tasks are coordinate and organized in such a manner that they can be allocated to various parties and individuals effortlessly (Silva 2012). Along with coordinating the activities and tasks, other deliverables are considered. All steps having been observed, the actual project is undertaken and reports are prepared relating to the achievement or otherwise of the project management team. All through the life of the project, the project manager should maintain consistency. This implies uniformity in the methods and technologies used. The importance of consistency is to ensure efficient maintenance and improvement of the project. Similarly, consistency is important in making people learn the project more easily. Learning a project with a diverse array of components and sections is considerably difficult. The project manager should as well be good at solving problems and handling a workforce with heterogeneous ideas and attitudes. Conflicts are bound to occur where the reasoning of the various stakeholders are conflicting. It is for this reason that the project manager should be a person of high behavioral cadre. It is worth noting that in most cases, people ignore the human attributes of the project. It is important to remember that the human resources are responsible for the proper running of the project and thus have to be given adequate consideration. Another important aspect of the project management process is decision making. The manager and his or her team should be in a position to make decisions in both normal situations and emergency situations. Similarly, the team should be able to make decisions relating to routine tasks as well as those items that are of non routine nature (Battilana & Casciaro 2012). Such decision making capacity can be helpful especially in the event that there have emerged some unforeseen disturbances. Related to the point of decision making is the point of planning. Planning is the preparation of a guide that will govern all the activities of the project management team. The plan should be structured in such a way that there is provision for emergencies and unforeseen in consistencies. In simple terms, the plan of the whole project should embrace contingent aspects. Organizing the project implementation is as well one of the most important functions of the project manager. The organizing function entails assigning duties to the personnel. This is done in such a manner that the human resources are allocated those duties for which they are most proficient. Organizing and coordinating function go hand in hand since they both deal with the human aspects of the project (Silva 2012). Also related to the point of organizing is the function of controlling. Fundamentally, controlling is concerned with the comparison between the set goals and the actually achieved goals. This is the most appropriate way of evaluating the project. Conclusion In conclusion it is important to note that project management is an integral part of organizational investments decisions as it can determine the success or failure of a going concern. Project management is fundamentally concerned with the coordination of all those activities that relate to the particular project and those that are particularly meant to ensure success of the project. It is important to note that the activities involved in project management are interrelated and any change in one of the activities affects all the others in terms of time, cost and other resources. The approach an organization takes towards project management varies depending on the nature of the project and the stake holders involved. It is noteworthy that the shareholders of an organization are all affected by projects in one way or another. It is for this reason that all plans relating to the project should consider all stakeholders. Project management tools are designed to make the development and implementation of the project much easier. The main aim of employing the project management tools is to have the project implemented without any wastage. Talking of wastage means that nothing should be wasted. Everything should be used economically to yield maximum benefit. In essence therefore, there should be no time wasted, no resources should go to waste, be it money or any other asset. The fact that the project manager employs such tools as PERT and the critical path method suggests that saving time is paramount to effectiveness. Looking at the case in this question, it is clear to see that project management enhances advancement in technology. For instance, it is a matter of common knowledge that the windows 7 operating system is much more advanced that the windows XP as it is capable of accommodating a diverse array of programs that the windows XP operating system cannot handle. It is for this reason that adopting the windows 7 is seen as a great step towards achieving better communication and correspondence. Reference List Anderson, B. 2010. Project leadership and the art of managing relationship. T+D. 64 (3), p58-63. Arora, P & Khazanchi, D. 2010. A Pattern-Based Tool for Knowledge Management in Virtual Projects. 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