Project Management Exercise - Assignment Example

Project Management Exercise Student’s Name Institutional Affiliation 1. Definition Methodology is a distinct set of techniques that are used or rather applied in the course of analysing a specific field of study. A standard is a set of rules and regulations that have been agreed upon as the definite way of conducting tasks like managing processes or even delivering customer services. 2. Importance of Flexibility & Standards It is noted that flexibility of project is indeed a positive aspect since it fosters risk reduction and possible elimination as well as improves on the level of maximisation. It is through the notion of flexibility that project managers are able to understand the immediate effects of unknown aspects that might hinder them from accomplishing quality; costs and timely delivery of project outcomes. In addition to this, it is clearly argued that projects that adopt the flexibility aspect are bound to be successful given that it gives room for conducting tasks in more different manner. Flexibility can be enhanced with allowing of project management processes to be flexible so that possible changes can be executed to facilitate easier manoeuvre of operations. Standards improve the level of efficiency in project management processes. A pragmatic perception of standardisation and flexibility rests with the fact that it allows each and every project to be represented with a definite set of problems that need solutions. 3. Project Governance Project governance is a set of management principles and standards under which most of the decisions are executed. It is indeed important for a given project process since it is meant to avail a decision-making platform for logical; rapid and repeatable model for governing the available resources. The four key governance functions include; i) Decision making: that is greatly involved with timely decision-making process, which seeks to solve even more complex issues that arise during project execution. Some of the notable project decisions include; the decision to source for specific funds and project termination. ii) Control and communication of pertinent information; is a function that enhances a sense of direction on matters related to best practice; corporate management of issues while still providing assurance of the project’s position in relation to the end outcomes. iii) Accountability; is a function that calls for clarity on individual’s responsible for the delivery of project outcomes. iv) Advocacy; is yet another function that seeks to identify an individual that is deemed to be responsible for a particular issue as well as securing a definite degree of project approval. 4. Example Of A Governance Operating Model 5. Project Phases & Role i) The project initiation/concept phase; is the first phase that allows such variables as requirement and affordability and their immediate relation to the industry are thus planned and embarked on. ii) The competitive phase; is the second stage whereby the industry is directly engaged iii) The preferred bidder phase; is the third phase that allows for extensive engagement with such industry stakeholders as contractors and funders while the deal is being finalised. iv) The formulation, acceptance and transition to service delivery phase provides a step for which project teams and company subcontractors are working together for purpose of ensuring a timely delivery of the products. v) The in-service phase; is a stage whereby the end-users daily relationships with the underlying project are monitored and benefits sought after. 6. Project Initiation Document A perfect example of project initiation documentation will be a requirement and affordability envelope. This documentation seeks to highlight the immediate stipulations and budget plan of an entire project at hand. Collection of this documentation will be through conducting a series of meetings with the key stakeholders of the project like the management in order to access the Green Book which records and maintains a significant level of information pertaining to goals and objectives of the project at hand. 7. Project & Organisational Strategies The aspect of organisational strategy is indeed implemented through projects. A project manager is expected to comprehend their respective organisational mission and strategy so that they can effective and efficient decisions; allow room for probable changes and, also serve them the opportunity of being effective project ambassadors. It is important to note that strategic management is initiated through a distinct process of scanning external environment for purposes of identifying possible strengths and weaknesses and thereby come up with organisation missions and goals. For purposes of accomplishing these goals, project management comes up with distinct strategic alternatives and thereafter; the process related to selection of the most notable implementation process of these strategies ascertains the accomplishment of overall strategic goals and objectives of the organisation at hand. In this regard, it is successfully argued that organisational strategies are thus the umbrella that covers all of the underlying business operations. Each and every project that is underway is expected to be under this umbrella for purposes of defining its right path towards meeting overall objectives. 7 b) In this scenario, the overall business goal will be to expand the company’s operations to overseas market and continue its level of current profits through adopting a competitive pricing model. The best business strategy to accomplish these goals would be for the company to modernise its operations and, also successfully complete a proper form of merger with a notable local but growing company. 8. How to Break Project Objectives into Achievable Project Deliverables This can be effectively done using a wok-breakdown structure through a list of three stages that include; i. Make a list of the highest level of deliverables for the project. The stage allows for an opportunity to allow for project estimation by way of translating an objective or goal document into a definite set of high level of requirements. ii. Break each of these high level requirements into a definite set of major deliverable categories. This is done on each and every individually listed goal for purposes of future independent implementation process. Care should be taken to ensure that there is a linkage between these goals and deliverables at hand. iii. The last phase involves breaking-up each of these major deliverables into single or even multiple levels of measurable activities. Part 8b) In a real life scenario, for step 1, the process would involve the project management putting up a discussion to analyse the scope of customer requirements. Customers’ teams will be used throughout the project for purposes of approximating the overall strategic perspectives. For step 2, the process would involve analysing summaries related to what the product that should be created or even changed for purposes of accomplishing the already stipulated customer requirements. For step 3, the process would involve delving deeper into individual customer expectations about a product and creating sub-levels for what should be done in this regard. 9. Negotiating And Documenting Project Objectives, Outcomes And Benefits This can be effectively done through a proposal that should be composed of project initiating request or brief where scope and scale of the entire project as well as the objectives in relation to what the client expects are discussed and agreed upon between the project manager and the client. The second step will involve preparation of a draft project plan, which will be designed in such a way that ensure the client’s desires and anticipated goals and outcomes are mentioned in brief. At this stage, the project manager is expected to avail a budget for what the entire project would demand and a project brief report sent to the client for approval. A Sign-off at the beginning and end of the project would reflect client’s satisfaction. 10. Project Management Documentation A project management and quality plan is a document that can be used for purpose of easily integration aspects related to organisational strategies and goals. PMQP is a document that fosters an effective communication between these two deliverables as well as provides pertinent information in relation to possible project plans; specifications and control mechanism. Section 2: Meet the Client In choosing the questions for the client, I made sure to access and review project review charter as well as understand and devise questions that would reflect on the form of funding the entire project. Notably clear, it will be important to ask questions related to the goals and objectives that the client seeks to accomplish with the project so that I can formulate my through in coming up with sub-goals that would be linked and integrated to that of the client in question. Consequently, I would wish to formulate questions that confirm on the overall project timeline in connection with the underlying resource availability as well as confirm on a preferred communication plan with the client; for purposes of avoiding possible chaos and confusion in the course of conducting the project at hand. I must admit that I learned a lot from the meet the client exercise especially since; a project manager is expected to formulate questions in an open and transparent way to garner as much information as possible and avoid future possible chaos. A project manager is expected to show great reliability and professionalism in the course of administering the questions in order to eliminate possible mistrust and negative attitude from the client. In fact, I have learned that the project manager should have extensive information beforehand that he/she should use to come up with the questions on mode of technology to be used for conducting the project; client’s overall goals and expectations as well as come up with approximations of budgets that fit in with the available resources and funds allowed by the client. It will be not sound for the project manager to ask a lot of unrelated questions as a sense of professionalism and qualification should prevail the meeting. It is also important that the project manager exercise an element of digging deeper into whether the client had ever done such projects before for purposes of creating a good relationship. Read More