Concept of Project Management - Coursework Example

Project Management Name Institution Instructor Course Date Project Management A project is a sequence of tasks that are planned from beginning to end. These tasks are bounded by time, resources, and the required results (Meredith & Mantel, 2011). There are quite a number of characteristics that make projects different from any other business activities. This paper will address these characteristics in detail. In addition, the need for engaging the top management in project management will also be discussed citing the importance of the project managers being supported by the top management. In the final section, this paper will address the functional and the matrix organization matrix in relation to project management where both the advantages and disadvantages of these structures will be highlighted. Unlike any other business, projects are a means by which change is introduced. This is however based on the overall objectives of a given project and how it will be managed until the closure of the project. Most of other business activities are driven by the sole purpose of revenue collection and profit maximization. Another aspect that makes projects different is that projects are temporary in nature. The implication for this is that once the required change is implemented, business as usual resumes and any need associated with the project is removed. All the relationships established during the project by suppliers, participants, customers, competitors, and other stakeholders are therefore temporary just like the project itself (Reiss, 2007). These relationships cease to exist upon the completion of a project. This is the reason why projects should have a defined start and a defined end. Projects are cross-functional in nature as they involved people with different levels of skills working together on temporary basis to bring change that affects others who are outside the project management team. Projects are unique in nature. An organization may initiate many similar projects, and establish a proven pattern of project activity but each one will be unique in some way. The uniqueness arises in the form of having a different team, a different client, different objectives, and different locations (Kerzner, 2009). All these factors combined make every project unique in nature. Unlike other businesses, there is a lot of uncertainty in projects. The characteristics that have already been mentioned, introduce threats and opportunities to a project and hence making it a more risky venture than business as usual. Projects have defined start and defined end. Once a project has been initiated, its closure is projected and is quite clear from the beginning where a specific time frame is identified. It is simply an issue of getting out of the activity as soon as the projected objectives are achieved. This characteristic is quite unique for projects as most businesses are established with a hope of continuing with them so long as conditions remain favorable or when the projected profits are realized (Meredith & Mantel, 2011). Once projects are closed there is a very limited chance for such a project to be repeated again as opposed to normal business activities where a business may be repeated in future. For a project, all that should remain is the product of the project and the satisfied stakeholders. A project is always associated with certain resources that are limited in supply. Such resources may be a combination of funds, time, talent, knowledge, services, personnel, space, facilities, equipment, materials, and many others (Kerzner, 2009). These resources that are used in a project may be used and returned, used and delivered with the product, generated by project activity, or may have limited life or time-dependent. The kinds of resources vary with the project’s lifespan or the stage of the project. In projects, it is observed that the varieties of resources used in project activities are of higher magnitude than those used in other corporate or business activities. In a project, phases and activities are sequenced. The first phase is referred to as the initiating or the conceptualization phase and involves identification and recognition of the project to be done (Meredith & Mantel, 2011). The objectives to be achieved in a project are identified while the overall objective of the project is also identified. It is also in this phase that the expectations of the management, customers, and other stakeholders are identified. In addition, the project scope is also stated at the phase one, while the selection of the initial members of the project team is also done at this stage. The second phase of a project involves planning where the scope of the project is refined. At this stage all the tasks and activities are listed. This ensures that none of the activities is forgotten or skipped as per the preliminary plans. This calls for the development of working schedule and a budget for assigning resources for the project. When the plan is completed, it has to be approved by the project stakeholders. It is in the third phase where the executing of the project is done. At this point, all the team members meet and the team is led towards meeting the set objectives for the project. Communication with the stakeholders is also done so that they can give their final input. All the necessary resources for the project are also secured at this stage. Controlling of the project is done at phase four where any deviation from the main plan is also monitored. If any deviation is noted, corrective action is taken to match with the actual progress of the plan (Kerzner, 2009). All the requested project changes are also received and evaluated at this stage. If there is need, the project is rescheduled appropriately and the adapting of the resource levels is done. The scope of the project may also be adjusted at this stage in accordance to the planning stage. Another unique characteristic of projects is noted in phase five where the closing of the project is done. At this stage, all the operations are shut down while the project team is disbanded. The project management also reviews the project process and outcomes and compares it with the initial objectives. The final project report is written to incorporate the changes brought about by the project and to note whether the required goals have been met. In a project, something must be done that has never been done before. Unlike other business activities, projects aim to bring change that has never been experienced before in the same location. It is therefore important for a proper research to be undertaken to establish what a specific project should entail for it to remain relevant. In a project, other people are needed on ad hoc basis. It may therefore not be important to involve so many people in the project team as such people may be incorporated as the project continues. For instance, the number of personnel may be increased as the project expands and may be decreased as the scope of the project reduces (Kerzner, 2009). This is quite different with other business activities where personnel may be required for longer periods as the main objective is to have enough profits. How to prioritize projects to ensure top management involvement For any project to be successful, it is important to have the support of the top management. Just like other stakeholders, the top management is quite vital in making decisions that may determine the outcome of a project. The top management in a project may show their support and commitment by allocating all the necessary resources for the project. However, the project managers may be required to brief the top management about the necessary resources required and why it is important to have those resources in a project (Meredith & Mantel, 2011). Since many projects may not succeed without the availability of enough funds, the top management must show its commitment in sourcing for funds to accomplish the projects. If this support is not forthcoming, there is a high likelihood of a project collapsing before the desired outcomes are realized. It is also important for the top management to back the project managers so that they can execute their duties with confidence. Any lack of support to the project managers may eventually affect the project team and hence affecting the project implementation. In addition to approving the project managers, the top management should also grant sufficient authority and influence to the project managers. This enables them to carry their duties effectively and without fear, and hence contributes towards the success of a project. Project managers have the duty to continuously brief the top management on how a project is progressing. This should be done in all the stages of a project to ensure that the top management does not remain in the dark about any development in the project (Reiss, 2007). Although the top management may not be available for all the meetings during the project development, project managers are mandated to involve them indirectly by not only informing them when things are not working well but also when there are positive developments in the project. The support of the top management is required in all phases of the project to avoid cases where questions may be raised concerning a certain project phase that may have been done a while ago. During the closure of the project, the top management must approve the project to ensure that it has fulfilled its mandate. Without the support of the top management, the effort of the rest of the project team may be wasted when the project is disapproved. The advantages and disadvantages of both a functional organization and a matrix organization in relation to project management In a functionally structured organization, the firm is organized in relation to the tasks that people perform and hence allowing employees to focus on what they can do best. A matrix organization comprises of a cross-functional work team that brings together individuals from different products departments, functional departments, or divisions with a purpose of accomplishing a specific goal (Daft, 2009). This leads to a dual-reporting organization structure where each member of a matrix organization reports to the manager of the cross-functional team as well as the manager of the department that sourced the member. One advantage of a functional organization is that there is less confusion since employees in a project have one supervisor with a clear chain of command. The separation of department functions also enables workers to be more effective (Gareth, 2009). A disadvantage in functional organization is that project managers may lack formal authority since the project team members tend to be loyal to their functional manager. The main advantage of a matrix organization structure is that it enables team members from different departments to share information freely across boundaries. This brings diversity in project management and may lead to more widely acceptable projects. One of the disadvantages of a matrix organization structure in relation to project management is that the team members may lack stability in their work roles and responsibilities within a project life cycle. The conflict between various departments may lead to psychological stress among the team project team members and hence affecting their productivity. In a matrix organization, a clear line of authority is not exhibited in the relationship between the managers and the subordinates. There is also a likelihood of a cross-functional team member receiving one direction from a functional manager and another contrasting direction from the cross-functional team manager. A conflict may therefore arise leading to employee dissatisfaction and eventual labor turnover. Inefficiency in project management is likely to be experienced in a matrix organization due to the existence of multiple managers (Daft, 2009). There may also be infighting between the functional and the cross-functional managers for the services of the individual team members. In addition, the cross-functional managers may lack the authority to make crucial decisions and hence hindering project progress. Another disadvantage of the matrix organization structure is that it is costly in relation to the functional organization. This occurs when skilled workers are selected to work in cross-functional teams as this may lead to an increase in overtime costs. A matrix organization may also require more managers and hence increasing the personnel costs for project management. My preference still remains the matrix organization as it enables the project members from different departments to work together with their colleagues from cross-functional departments. This brings varied skills in a project and works towards enhancing intra-personal relationships among employees in an organization. In conclusion, projects are different because they bring change to the society or environment where they are established. They are also temporary, cross-functional in nature, uncertain, unique, and have a defined start and end. Projects are also associated with certain resources that are limited while the activities in a project are sequenced and scheduled for efficiency and order. The sequences involve various phases that ought to be observed until the completion of a project. The two organizational structures used by organizations in relation to project management include the functional and the matrix structures where the matrix is considered to more modern and hence used by many organizations. None of the two structures can entirely be considered to be better than the other as both have their merits and demerits. Therefore, managers have to make decisions on the organizational structure to follow in the management of their projects in relation to the prevailing circumstances. References Daft, R. (2009). Organization theory and design. California: Cengage Learning. Gareth, J. (2009). Organizational Theory, Design, and Change. New York: Routledge. Kerzner, H. (2009). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. New York: John Wiley & Sons. Meredith, J., & Mantel, S. (2011). Project Management: A Managerial Approach. New York: John Wiley & Sons. Reiss, G. (2007). Project Management Demystified. Boston: Routledge. Read More