PRINCE 2 Project Management Methodologies - Assignment Example

Project Management Name Institution Date Part 1 PRINCE 2 Project Management Methodologies PRINCE2 method of project management is widely used across the world since its take-up is immediate. Approximately 20000 organizations have attested to the fact that they have benefited from it (Walton 2007). PRINCE2 is said to be generic and fits to any project irrespective of the organization type, culture, scale or geography. PRINCE2 encompasses themes, lifecycle process, principles and guidance on how to match the project method to the environment (Bentley 2005). It also offers a solution to the management of the project. The activities include how to direct the project, manage and deliver the results. According to Bentley (2002), Project In Controlled Environments is a standard applied in any industry around the world. Project management is integrated with software engineering to facilitate successful project execution. It is a management technique of projects that covers various activities that a project requires. Prince 2 methodology has eight sub divisions in which we will focus this paper on. Benefits of PRINCE2 It does not choose on the type of the project. The approach is common and readily acceptable. It merges with the models of any industry with ease. The objective for the project is stated in good time. Provides focus on projects that are ongoing. Figure 1: structure of PRINCE 2 Principles of PRINCE 2 A PRINCE2 principle refers to the regulations that guide the practice of project management (Maylor 2010). These are learnt and can be good or bad. They also affect the success of the project. They provide a framework that will guide the management of a project in what is known as good practice by making sure that they provide a prescriptive method that will yield the intended results. PRINCE2 Themes PRINCE2 Themes are the main ideas about the management of a project (Onna, Koning & Klaassen 2006). They are revised continually in the life cycle of the project. They give guidance about what should be done to get the results outlined in the objectives. For example, many PRINCE2 processes are about plans and guidelines on how a project should be managed. These themes give information about the prospective risks, the scope of the project, the quality y anticipated, he cost of resources needed for it and the benefits expected from the project and monitoring and evaluating the progress of the project. PRINCE2 Processes The first part is that of starting a project up. This is about the activities that are needed to commission the beginning of the project and to get approval from the corporate partners to invest their resources to the project. The design of the project is critically reviewed at this phase and whether it is viable or not, it has to be decided on during the commissioning (Bentley 1998). Planning- Planning is the management of the flow of project in formation in an organization. This information passes through several management levels that finally produce migration, testing and log files (Smith 2002). Planning is subdivided into three levels namely business, functional and corporate planning levels. In the corporate level, all of the company’s directions are provided and the CEO and directors decide on the way forward. Strategies that support overall business of the company are analyzed in the business level. The role of the functional level is to explain the company business support such as human power, finance, manufacturing and marketing (Atesmen 2008). When project components and deliverables are considered in planning, it is termed product based. Planning a project is represented by the analysis of its critical path (Richman 2002). Initiation of the project Richman (2002) examines that once a project has been planned, then the initial stages of its implementation are commenced. Gathering of data is conducted for the proposed project to identify its requirements. Important preparations and documentation n required is put into place ant the project is commenced. Network diagrams showing the sequence of activities are developed, the critical path analysis done and the stages arranged ready for execution. Directing a project In this stage, the project manager needs to be equipped with the requisite project management skills. In this phase, the guidelines are clearly put and decisions on who to oversee specific activities with regard to the implementation of the project is made. The board delegates responsibilities to all stake holders involved in the project. Controlling a stage Every stage in a project has objectives. These objectives should me measurable, specific, realistic, timed and agreed. This is critical since every stage is as important to the implementation of the entire process. A failure in one stage may result to failure of the whole project. Managing delivery of a product The product and/or service are designed and scheduling plans for the implementation are developed. The board of management must be fed with adequate information o n how to manage the products delivered (Heerkens 2002). Managing stage boundaries It is about activities that the project manager undertakes to ensure that every stage in the implementation of the project is successful. This information must be shared with the board of management to ensure that there is documentation n for purposes of consistency (Lewis 1998). Closure of a project A project that has been successfully completed, analysis has been done and the reports have been issued out can be sealed and closed (Heerkens 2002). However, for those projects having issues with either the stake holders or which failed to complete all the phases are cancelled or reviewed for correction. When a project is being closed, the final report is given to the directors by the project manager as he delivers any required goods to con summers. The project manager also releases the resources for the project, terminates contracts for supplies and finally communicates to the stakeholders informing them that the project has been completed and closed. The processes of PRINCE 2 methodology can be summarized using the model in table (1) below. Table (1): Process Model for PRINCE2. Part 2 PMBOK knowledge areas For almost all the projects, PMBOK is divided into nine knowledge areas namely management of project integration, scope, cost, quality, human resources, communication, risk, and procurement (Collins 2011). In this research, we will briefly look into these knowledge areas. Management of project integration is focused on ensuring that all projects activities are coordinated well by ensuring g that the huge chunks of work are completed for the project to succeed. In this management phase, plans on a project are created and then executed. Result verification and work monitoring are performed and finally the manager closes the project as the projects come to completion. Management of a project scope is a knowledge area that controls a project scope by managing its requirements, processes as well as details. If any changes are required in the scope of the project, they should be structured, controlled and procedural in execution. Therefore, it is valid to state that scope management a project ought to be controlled manned and have proper planning (Heerkens 2002). Time management of a project on the other hand deals with activities, resources and schedule management. Individual activities are defined and sequenced and their timeline is estimated with an overall goal of building a schedule for the project and managing the schedule’s updates and changes made. Planning, monitoring and control of a project are conducted and estimation of costs. Cost management of a project controls the cost estimated in time management. The corrections that need to be made on the estimated budget are also made. However, cost management depends on the how accurate values of costs estimated are and this accuracy makes alterations on the progress of the project (Collin 2011). Management of quality in a project focuses on quality control. Outputs produced through execution of different processes are compared with the standard output expected. A plan is made for controlling quality by the project manager early enough for decisions to be made that impact the decisions made on time, scope, risk and cost. Human resource management focused on planning the staff responsibilities, organization of the project and planning of the staff management. This body is responsible for assessing performance, staff role assignments, and overall team management. Management of project communication is a thorough and proactive combination of verbal and written, informal and formal communication. Accuracy of project information to its relevant recipients should be timely (Collins 2011). Procurement managers look into the standardized procedures that are performed to enable shipping of goods from another company. It is only the project manager of the recipient company who can budget for what will be purchased or outsourced in terms of products or services depending on the company requirements. Finally, risk management handles that project risks. Risk should be accounted for especially those that relate to uncertainties. Some risks however have a permanent effect on the project which could be either positive or negative. Part 3 Case Study of an Engineering Project Management Project management is the aspect of a project that deals with creating plans, project organization and resource management with aiming at completing the project successfully. The dates the project is supposed to begin and end are determined before the project is put into place. In this report, we will look into a Road Construction Company that has a series of projects in different countries. A project manager who is well equipped with the required steps and tools plays a vital role in execution of projects in a construction company (Heerkens 2002). This is because the manager takes responsibility for the cumulative project success. He heads project planning, its implementation and closes it when it is complete. The manager selects and leads the team of experts that works on the project and ensures its success. If the manager fails to play his planning and break down the work well, then the project cannot succeed. The manager is also expected to give a report on the progress of the project at every phase. A project’s success or failure is dependent on the cost, performance and scheduling. Over budgeting is a common failure cause in project management (Heerkens 2002). This results in cases where the stake holders cannot finance the project. A project manager is therefore required to conduct control on the project cost as well as ensure the calculations are well done. Risks encountered when executing the project lead to additional problems by compromising the quality of work. It is therefore important at the beginning of the project that the manager provides for these risks by taking responsibility with risks being events that occur due to uncertainty and their impact could be negative or positive. Instead for providing for risks, it is advisable to avoid them in circumstances where it is possible because of the unexpected loss they create. It is a requirement for the project manager to do a final report on the project and formally close it when it is completed. Failure in any of these requirements by the manager jeopardizes the success of the project (Heerkens 2002). In management of complex projects such as in road construction which require outsourcing of different expertise while ensuring success, the project manager must be well equipped with management skills. Ability to manage a project is one of the skills that a project manager requires. Under this skill, he/she should have knowledge on budget preparation, cost estimation and project execution. A project manager should also be capable of managing human power by motivating them and providing them with clearly defined goals for every project. Understanding of colleagues’ needs, personalities and desires helps a project manager with some organizational knowledge. He should be equipped with integration skills and be able to execute a project successfully. Any shortcoming on the part of management skills will lead to uncertainty for successfully completing the project task. If a project manager cannot solve issues arising then chances are the project will not run smoothly and execute successfully (Heerkens 2002). References Top of Form Bottom of Form Top of Form Bottom of Form Top of Form Bottom of Form Top of Form Bottom of Form Top of Form Bottom of Form Top of Form Top of Form Bottom of Form Top of Form Bottom of Form Top of Form Bottom of Form Top of Form Bottom of Form Top of Form Bottom of Form Top of Form Bottom of Form Atesmen, M. K. (2008). Global engineering project management. Boca Raton, CRC Press. Bentley, C. (1998). Quality management within PRINCE 2. Norwich, Stationery Office. Bentley, C. (2002). PRINCE 2 a practical handbook. Oxford, Butterworth-Heinemann. http://site.ebrary.com/id/10180953. Bentley, C. (2005). Prince 2 revealed: including how to use Prince 2 for small projects. Oxford, Elsevier. Collins, R. J. (2011). Project management. New York, Nova Science Publishers. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=362390. Heerkens, G. (2002). Project management. New York, McGraw-Hill. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=75939. Lewis, J. P. (1998). Team-based project management. New York, American Management Association. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=2438. Maylor, H. (2010). Project management. Harlow, Financial Times Prentice Hall. Onna, M. V., Koning, A., & Klaassen, M. (2006). The little Prince 2: a practical guide to project management. [Bilthoven], Getronics PinkRoccade. Richman, L. L. (2002). Project management step-by-step. New York, Amacom. http://www.books24x7.com/marc.asp?bookid=3841. Smith, N. J. (2002). Engineering project management. Ames, IA, Blackwell Science. Walton, Dale. (2007). Project Management Demystified. Taylor & Francis. http://www.myilibrary.com?id=91781. Bottom of Form Read More