Project Management Process - Coursework Example

Project Management Name Institutional Affiliation: Project Management Most businesses have the desire to institute some changes at some point in their operations. For instance, businesses may need to relocate, establish or improve on their systems, venture into a fresh market and many other changes. All these changes are usually tackled as projects. A project is expected to bring some short-term or long-term outcomes depending on the planning adopted by an organization. A successful project is detailed and updated even when more information is uncovered. The approach used in constructing projects should be well systematized and prepared. However, it is undeniable that projects encounter limitations, which may eventually impede its success. Besides, it is extremely beneficial for a business to ensure that it delivers a successful project. In the modern times, businesses are facing stiff competition, and the as the global market experiences monumental changes. Therefore, it has become mandatory that businesses deliver successful projects in order to be at par with the many changes and thrive in the modern complex world. As shown, “successful project managers have a knack of adapting styles to specific circumstances of the situation” (Gray, & Larson, 2008, p335). Projects that corporations institute often vary on one way or another. Some projects are entirely new to a business and have no relationship with existing organizational structures or elements. Conversely, other projects may have similar aspects like those being practiced in a business. Project managers utilize defined methods designed for project work in order to have direction on what is required of them. This study discusses eight principal areas that are crucial for delivering successful modern projects. These areas include project management process, shared leadership, and management of risks, utilizing data management instruments, preserving core capabilities, performance management structure and involving the public. Project Management Process The project management process has been largely utilized by private companies as a means or way to successful implementation of projects (Kloppenborg, 2011, p 6). Private businesses have enjoyed the success of the project management process for quite some time now. Therefore, this area is considerably fundamental in delivering successful contemporary projects. The project management process has various aspects, which can be utilized and implemented in remarkably different ways. The application of the aspects and concepts of the project management process depend on the requirements and characteristics of the business. For instance, the project management process can include only one manager who is expected to monitor the process project from the beginning to the end using a control chart like the CCPM (Gray, & Larson, 2008, p274). On the other hand, multiple managers can be utilized in different stages of the project depending on the nature and need of the business. The managers are granted various roles, which they are expected to accomplish. In order to deliver projects successfully, managers are expected to create a business culture that is geared towards project delivery and plan as early as possible. Successful managers are also associated to a high level of commitment and dedication to projects. In this area, the person or manager is what matters. The belief is that any project can thrive as long as it is being managed by the right leaders. The project management process can also be centralized or decentralized. In such a case, the authority of the manager should be well defined if success in project delivery is to be realized (Scan Team Report, 2009, p.102). Shared Leadership The second area that is crucial for delivering a successful contemporary project concerns the aspect of shared leadership. In this area, powerful leadership facets must be displayed. These leadership elements establish a positive environment not just for individuals, but also for the entire business. In this case, effective management is not just a characteristic of a certain individual or a single role, but it is rather a collection of attributes among several people. In most instances, a powerful leader is mirrored at the highest level of management such as Chief executive officer. For instance, Bill gates, founder and chief executive officer of Microsoft is a powerful leader. Attributing the success of Microsoft to Bill Gates alone is inappropriate since he also relied on co-founders and other employees for the success of his company. It is not right to ignore other individuals who also contribute immensely to the success of a project in varying levels. All the employees of a certain organization have a considerable say in any change that might be taking place in the business. The individual at the lowest level of management may not be as qualified as the one at the highest level though his or her contribution matters a great deal. It is also necessary to note that the impact of any leader in a business is usually realized when the individual has left. In this area, leaders are supposed to ensure that accountability is attained at all heights in a business. Leaders can also provide the instruments needed for successful project delivery (Abell, Springer & Kamata, 2009, p.78). Risk Management Another area that is crucial in delivering successful contemporary projects involves the management of risks. Efficient project management methods are essential in improving business operations. Risk is a natural aspect that cannot be avoided and the sooner businesses realize this fact and plan how to deal with the problem the better. Risk management is not just about listing the problems that a certain business may be facing. It entails recognizing, evaluating, quantifying, and making precedence-premeditated actions centered on principal objectives. It is also essential for businesses to adapt strategies that are tangible in order to deal with various kinds of risks effectively. For instance, transport companies experience various risks at clearance points. The risk in this case concerns schedule and most managers have found it hard to manage such risks. It is not easy to predict the time the tracks will be cleared since delays are largely experienced before clearance is obtained (Gray, & Larson, 2008, p 424). Transport companies are thus forced to come up with decisions based on predictions and this is quite a tricky process since the forecasts might just not be right. In such a case, the focus is meeting client requirements and expectations in relation to project delivery. It is also necessary to determine how much the risks may cost and the time that might be consumed. Therefore, businesses need to utilize methods and procedures that can be approximated in terms of range but not single digits since estimation is believed to be better as compared to being exactly wrong. Consultant utilization is another crucial area that should be considered in delivering successful contemporary projects. In the modern times, companies are using whatever means necessary may lead them into achieving their objects. Most companies are being influenced by aspects that force them to seek outside consultants to assist them in successfully delivering projects. This has become common especially if the projects in question are quite complex and cannot be managed solely by internal leaders. In addition, companies get the chance to utilize experienced workforce, which they may not be having, or even increase labor to meet the schedule stipulates for capital delivery. Outside consultants can be used to accomplish a considerable amount of work. Most businesses are also experiencing an enormous workload and a decrease in workforce (Milosevic & Srivannaboon, 2006, p.107). This leaves such businesses with no choice but to source outside if they wish to deliver their projects successfully. The utilization of an outside consultant is regarded as an excellent practice in successful project delivery. The outside consultants can be included in all phases of the project in order to attain coherence. However, as mentioned earlier, the type and magnitude of the project will determine various factors as whether outsourcing will be done at all project levels or not. It is also best to include a company employee at the managerial position when utilizing outside consultants. Additionally, businesses need to evaluate the outside consultants in order to ascertain their effectiveness. This means that businesses require assessment systems if they wish to employ this practice. Utilizing Data Management Instruments This is another best practice that results into successful project delivery. The modern world is full of technological advancements and most businesses are infusing technology in their operations in order to compete favorably in the hi-tech business world. Approximately all areas of businesses today require technological tools in order to operate smoothly. The use of technology in a business project is an indication of willingness to utilize paramount practice. Investing in data management instruments is a practice that necessitates business venture though the reward is more than the cost of investment. Technological delivery systems help project managers in organizing data aspects and the whole project in general. For instance, a business can decide to invest in “Informix “which is a data management tool that is reliable and known to enhance client satisfaction (Gray, & Larson, 2008, p135). Several data management tools can add value to a business project by performing diverse functions such as coordination, estimation and many others. Businesses that incorporate data management tools in their projects encounter limited obstacles in facilitating changes if need be and making the necessary adjustments. These tools also boost communication and in turn enhancing project processing. Data management instruments can also be integrated with performance measurement instruments so that all the two areas can profit. Data management systems are significantly valuable to other sectors of the business besides benefiting the project. The information obtained via these tools can be used to determine vital trends in other business divisions. Accountability is also achieved using data management tools. Preserving Core Capabilities and Competencies In some businesses, core capabilities have been declining. It has been mentioned that the rate of outsourcing has increased in most companies. For instance, Tesco supermarket outsources accountants from other companies. This means that the chances for Tesco to develop project managers are quite slim. Businesses are moving more towards delivering their projects via consultants or outside sources and at the same time, the workforce in these businesses is not developing core capabilities needed to complete the task efficiently. Maintaining key capabilities is a crucial area that profoundly determines the success of project delivery. For instance, an employee might have the function of a contract manager. This does not mean that this particular worker has the required knowhow to manage a private company. Businesses are trying to find workers to assist in the completion of projects but apparently, the chances are minimal. It is rare to find businesses retaining project managers or other individuals with core capabilities. There is a need to maintain core capabilities in businesses if successful project delivery is to be realized. Individuals with core capabilities are like an asset to any business. Lacking such professionals place the business at risk of poor project performance. Most businesses or rather all cannot be well managed without a skilled work force. The core competencies in businesses are not only supposed to be utilized on the short-term basis but they should also be maintained as long as the business is operational in order to avoid cases of possible failures (Gray, & Larson, 2008, p36). A successful project depends entirely on the skills possessed by the project manager. These key project management competencies include adept analytical skills, appropriate communication skills, some expertise in budgeting, teamwork, intelligence, ability to stay calm in tumultuous circumstances, and excellent time keeping. Management competencies are often described as “soft skills of people oriented competencies which would be required of any manager, but are especially important for project managers dealing with a project team (superiors, staffs and consultants) and external stakeholders (clients, other third parties, media outlets, regulators). A successful project is achieved when a manager has the basic knowledge of business literacy and corporate procedures, which are helpful in fostering a good corporate culture. The most critical area in project management relates to the technical competencies required of the managers. They include budget planning skills, which are important in Cost Benefit Analysis of the project in question, client focus skills, contract procurements skills, and hand-over management. Other skills include environmental, health and safety consciousness, risks management skills, quality and resource management skills besides scheduling management. As shown in this section, it is evident that a project can only be successful of a manager can” 1. Have some knowledge about the business environment 2. Manage effectively the people involved in the project, and 3. Apply the technical aspects in managing the project, The following steps indicate a path taken by a successful project Some tools are also essential in project management and are essential because the guarantee some success. One of the essential tools is the Gantt chart, which is important in planning the project schedule, budgeting, and presenting the progress of a project. The PERT tool is also essential in project management because they help in the formulation of Critical Path Analyses showing independent and dependent events in a project. MSExcel can also be used in place of Gantt chart and is an essential tool in project planning and execution success (Kloppenborg, 2011, p 188). Performance Management Structures Other than maintaining chief competencies, having a performance management structures is also crucial to successful project delivery in any business. Every business needs to put in place a performance management structure that should be utilized at all times. Some businesses might have all other best practices to successful project delivery but lack a performance management process. Businesses need to come up with ways and means of gauging their performance. The performance measurement structures assist businesses to alter processes accordingly (Kane & Trochim, 2007, p.115). Measurement can be conducted internally and externally depending on the nature of the project in question. Some companies measure performance and make the results open to the public. This is also an excellent way of being accountable, which is desirable. This system can also be used to evaluate the performance of the entire business besides measuring the performance of a given project. Through the performance system, employees can also communicate vital information to the management. In addition, the performance systems hold data that may be used for future reference. It is essential for all businesses to measure their performance in order to know the direction they are headed for. A business project whose performance is not measured is useless. Public Participation Involving the public in project matters is also a significant practice that can enhance successful project delivery (Stefanovic & Shenhar, 2007). The notion that; “the customer is always right” could not be said any better. It is hard to separate customers or public members from business projects since they are involved in the venture either directly or indirectly. The project might not just entirely be for the good of the business. The public may be the sole reason why the project is being developed in the first place. It is necessary for businesses to collect data from customers and the public and find out what these people think about the project. This can be done using powerful programs created to find out public views concerning the project in question. The opinion of the public on various project areas provides vital information that can be used to enhance the business plan. In this area, it is important to obtain the most and least favored aspects of the project. Meeting customer requirements is very fundamental for any business. A project that ignores the preferences of the customer is doomed to fail because businesses depend on clients for survival. Involving the public is simply same as market research. Market research provides project managers with an almost accurate answer as whether to go on with the project or terminate it. Market research can also predict the future of the business. Market research can be conducted for a varying period depending on several factors such as type of business, purpose of the project among others. It is clear that successful project delivery necessitates a combination of a variety of facets. All the elements mentioned play a crucial role in ensuring the successful delivery of a project. Factors such as risk management, performance measurement systems, public participation and many others are all crucial in successful project delivery. It is undeniable that completing a project is not an easy task and thus requires considerable effort. Some businesses have taken ages to deliver projects successfully. The success of a project is often realized when project managers are able to make tradeoffs in various areas such as cost, and schedule. The ability for project managers to make tradeoffs not only boosts the business but the clients as well. Studies reveal that projects of varying sizes have been developed and executed. For instance, empires were built in ancient times and all these were projects. The difference between ancient and modern projects is that the latter requires systematic panning and organization while the former does not. In the recent past, many businesses have noted the fact that leadership plays a significant function in the success of any project. Technological advancement in the modern times has had a considerable impact on the growth and implementation of projects. The concept of project management is currently being used in various arenas. There is like hood that project management will continue to grow even further as the world continues to experience changes in technology and other disciplines. The demands of customers are also becoming complex each day (Morris, 2000, p.7). It has also been mentioned that leadership does not just involve a single person but entails all the people affected either directly or indirectly by the business. Powerful leadership apparently is the key to successful projects. Leadership appears to have much in common with the environment. In a business setting, the business environment plays a crucial role in determining the success of the enterprise. An exemplary leader will attract a positive working environment and vice versa. A project manager functions as a leader and must display leadership characteristics. A project manager is an extremely significant character in project management since he or she determines the success of the plan and business in general (Gray, & Larson, 2008, p330). The elements required in achieving a successful project may be present but without a competent project manager, all the effort will be in vain. In the modern times, customers are only settling for quality products and services. For instance, a delay in delivering products and services is something that is not being taken politely by modern day customers. Contemporary customers are informed and understand their rights hence cannot easily be fooled. Business people have been left with limited choices forcing them to comply with the rules guaranteeing successful project delivery. Developing projects is indeed a costly process. It is fundamental for businesses to ensure that their ventures yield positive results. The cost incurred in project development and implementation may be too high, but the outcome is indisputably worth the effort. References Abell, N., Springer, D. W., & Kamata, A. (2009). Developing and Assessing Rapid Assessment Instruments. Oxford, UK: Oxford University Press. Kane, M., & Trochim, W. M. K. (2007). Concept mapping for planning and evaluation. Thousand Oaks: California. Sage Kloppenborg, T. (2011). Contemporary Project Management. New York: Cengage Learning. Milosevic, D. Z., & Srivannaboon, S. (2006). A theoretical framework for aligning project management with business strategy. Project Management Journal, 37(3), 98 Stefanovic, J., & Shenhar, A. J. (2007). Does strategic alignment contribute to business success. In A. J. Shenhar, D. Milosevic, D. Dvir & H. Thamhaim (Eds.), Linking project management to business strategy. Newtown Square, Pennsylvania: Project Management Institute Gray, C. L. & Larson, E. W. (2008). Project Management: The Managerial Process. New York: McGraw-Hill/Irwin Scan Team Report. (2009). Best Practices in Project Delivery Management. Retrieved from http://onlinepubs.trb.org/onlinepubs/nchrp/docs/nchrp20-68a_07-01.pdf Morris, P. W. (2000). Researching the unanswered Questions of Project Management. 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