Rocks and Bands: A Project Management Decision-Makin Game - Annotated Bibliography Example

REFLECTION ON PROJECT MANAGEMENT CASE STUDIES Name Institution Professor Course Date Rocks and Bands: A Project Management Decision-Makin Game With respect to Rocks and Bands, a project Management Decision-Making Game, the issue entails proper project management where time, cost and work allocation is paramount. Completing the project in the set time lowers costs linked to the project. Despite having only for workers, all the project tasks must be completed in ten weeks to save on cost and uphold reliability for execution ability. The four workers available for the project tasks can be used to perform other tasks rather than be absorbed in the project every week. This is because the company charges the project manager two hundred dollars every week for every work that the manager uses for his project. Additionally, the project manager will be charged 300 dollars per week for any extra worker he uses in his project. More importantly, failure to complete the project within the stipulated time, the project manager will be charged 2000 dollars per week because of loss of good will and increased negative publicity. The case study stimulation also questions the effectiveness of employing more workers to complete the projects in less time. Employing more workers instigates increased coordination which calls for overtime by workers which may subsequently cause the project manager extra 100 dollars per week. Although increasing workers to ensure that the project is completed within less time may lead to quick completion of project tasks, it may raise the project costs. From the case study stimulation, I learnt that an experienced project manager must coordinate and organise his/her project tasks properly to prevent delay, extra requirement and to improve efficiency and credibility for aptitude to implement a project. Failure to properly manage project tasks leads to reputation damage due to project delays, and as such project managers must plan their project well and be as effective as possible to ensure timely project completion. I have learnt that time management in project is crucial as it facilitates completion of projects within the set deadline. This is because overdue projects are pricey and in most instances, useless. Moreover, belated projects do not only lead to loss of materials and loss on implementation cost, but also trigger loss of trustworthiness for completing ability. In this regard, cost and time management is are noteworthy skills in project management and in life. Time management is for all objective and purposes concerned on spending minutes and hours as resourcefully as possible. Nevertheless, unmatched time management entails an integration of some elementary techniques, common sense and practice. These aspects facilitate development of exceptional working habits that promotes efficiency in any project work. Time management in project management is not optional as proper time management facilitates timely project implementation. However, time management in project work must go hand in hand with effective human and physical resource management. For any project manager wishing to work efficiently, consideration of human, physical and time management is paramount. Particularly, proper project management is a prevailing aspect that distinguishes individuals of equal abilities and talents by this means making them to thrive in their projects. In this view, proper project management calls for arrangement, organization, accounting and scheduling of time to produce more well-organized work and output. The lessons I have learnt from the case study stimulation are applicable in my studies and in all aspects of my life. Particularly, the issue of time management and effective management of available resource is essential in my studies, daily life and my prospective professional life. The ability to complete my daily tasks, assignments within the stipulated time will make me a productive person not only in my career, but also in my studies and daily undertakings. Proper planning that entails cutting on costs, effective use of resources and completion of task within the set deadline will make me an effective person in my studies and all aspects of life. I would apply effective project management lessons through proper use of time and available resources. Factors that might prevent me from applying the lessons that I have learnt include lack of resources, skills and equipments that facilitates proper project management. For instance, to ensure proper project management, communication is essential as it helps in alleviating information flows. In this regard, communication skills are paramount in project management. Time management, on the other hand, requires skills in information technology. This is because information technology holds the latent to guarantee excellent time management by use of computer-based time management software. Information Technology offers project management software that allows project managers to track the project from its inauguration to its implementation. The concept of time, resource and cost management in project work is evident in project management. I have come across this concept in other case studies and it is also evident in project management readings. Time, cost and resource management in project tasks is essentials and all the tasks allocated for a given period must be completed in order of priority, within the set budget and available resources. Tasks set for week two cannot be accomplished before tasks set for the first week of a project. Good project management entails breaking down the project into segments. It entails proper planning, identification and prioritizing tasks. The lessons I have learnt are closely linked to other subjects and experiences. This is because the underlining objectives and priorities in all activities in other subjects and experiences, not only saves time, but also increases efficiency. Practical and proper management of resources is applicable in day to day live and in other subjects like human resource management, economics and accounting. The case study stimulation has confirmed my understanding regarding management. I have confirmed that managing projects is not an easy task. This is because management entails setting of achievable goals that can be accomplished through the available resources and within the stipulated time. Managers must make postulations, dependencies and draw attention to constraints through underlining external factors. There are many instances where projects always run late. Attaining project’s cardinal utility is intricate as it calls for multiplying the project value and subtracting the costs involved in project execution. Sometimes the cardinal utility does not add up, and this makes project management a hard task. I need to further my managerial skills to improve my studies, work and my daily activities and more importantly in my prospective career. Carton, F., Adam, F., Sammon, D 2008, ‘Project management: A case study of a successful ERP implementation’, International Journal of Managing Projects in Business, 1,1pp.106-124. According to Carton, Adam and Sammon (2008), it is evident that the extent to which firms prepares themselves for their execution projects hold a bearing on whether these firms encounter problems during implementation and whether they attain the sought benefits. Insufficient project management trigger short-term solutions applicable to problems that take place during ERP system implementation and considerable adverse effects when ERP systems go live. Specific challenges require specific project management strategies. The case study highlight project management in IS (information systems) projects and the proper project management practices for ERP systems. The issue in this case study entails the elements of project management that promotes the success of projects. The case study underscores the best practice that guarantees efficient project implementation. The nine elements for project management ensures that a project upholds its focus with respect to direction, lower the probability of delay and rework because timely problem resolution are attainable with good project governance. The nine knowledge areas for project management subject for analysis in the case study include project integration management, project scope management, project time management, project cost management, project quality management, project human resource management, project communication management, project procurement management and project risk management. From the case study, I have learnt that a project is a group of actions made to offer a distinctive service, result or product, and it is usually transitory because it engrosses a defined starting and ending. Project management involves the knowledge, techniques and skills appliance to execute projects efficiently and effectively. The process of project management involves planning, systematizing, securing and controlling assets to warrant successful completion of laid down project objectives and goals. Project management involves a management role that schemes, budgets’, organizes, monitors and manages operational functions of professionals. Management is a crucial task in project since it smoothes the steps forward of an organization’s objectives and goals. I have learnt that the nine elements of project management are useful and applicable in all successful projects. As a result, project managers must consider the nine elements to organise and plan their project. Project integration management facilitates coordination of different elements; project scope management entails all the required work, project time management ensures timely implementation of the project while project cost management ensures completion of project within the set budget. Project quality management ensures attainment of project goals, project human resource management makes most productive employment of project workers while communication management facilitates appropriate and timely generation, gathering, storage and dissemination of information. Risk management facilitates timely decision making besides minimising the adverse effects or avoid project risks, procurement management entails obtaining services and goods for the project, while human resource management ensures proper selection of team members. The lessons learnt from the case study particularly those relating to the nine elements for successful project managements are applicable to my work, studies and in others areas of my life. This is achievable through reference to the objectives and goals of the nine elements of project management. For instance, time management is a key aspect in my work, studies and other areas of life, and so is management of resources, coordination of activities and communications. Factors that can hinder application of the lessons that I have learnt from the case study includes lack of skills, techniques and apparatus that would enhance proper application of the nine project management elements. For proper use of the mentioned elements, I would require both managerial and technical skills. Apparently, the determining factors of success in application of the lessons that I have learnt lies on improved efforts and skills in project management. I have come across the nine knowledge areas considered the subset of project management in other readings and case studies. For instance, the concept of project time management, project cost management and project human resource management are evident in Rocks and Bands case study. The lessons I have learnt evidently show connection with other subjects and experiences. For instance, project human resource management is directly linked to human resource management while project cost management’s links to accounting. The session has confirmed my ideas about management through making it evident that management is a crucial function in project because it facilitates the smooth progress of a project objectives and goals besides avoiding failures or minimizing the negative effects of project risks. I consider project risk management is an area that calls for more attention in future. This is because sometimes projects may not succeed due to restraints beyond the control of the project manager. Examples of these restraints include not enough time, the call for learning and project status where the project team may not be advanced on the prerequisites of the project. As a result, I need to understand the strategies that project managers can employ to manage high-risk projects caused by systems failures, dropping of roles by project members and time lapse. Read More