Can Project Managers Reduce the Risk of Project Failure - Essay Example

Can Project managers reduce the risk of project failure? By In this paper I will present detailed analyses of the project manager’s abilities regarding the mitigation of the risk of project failure. The research is primarily focused on the project manager’s capabilities and management skills regarding the better project management and efficiently reduction of risk of project failure. Projects differ considerably in their size, scope, level of complication, and organizational and technical elements (Kenneth 1999, p. 409). Project risk management looks for to predict and deal with doubts that intimidate the goals and plan of a project. The risks can comprise problems of parts superiority and material; stoppages in delivery of adequate resources to convene project requirements; budgetary and workers transforms; and, imperfect research or knowledge of the project manager. These risks lead speedily to holdup in release dates and financial plan overages that can be harshly weaken assurance in the development of the project management (Martin et al, 2004). There are lots of risk those are attached to the project development and cause a serious problem for the better management and administration of the project. These risks are also the main reasons for the failure of the most of the projects. At project management viewpoints, project managers have to find out the most recent insights, methods and developments in project management field. This will provide him a better understanding regarding the efficient project management and solutions for emerging risks (Johnson et al, 2005). A lot of projects would be unsuccessful for the reasons of declining behind timetable, cost overruns and so forth. Such type of risks can be decreased, if the project manger has good qualities of project risk finding. If a project manager is able to identify the main stakeholders and makes sure that they evidently make out the project scope and main objects of the project. What we can do to diminish the project failure risk? As I have accessed a solid step project managers are able to acquire to augment the accomplishment of all their projects: is the process of enhancing the skills of their team members (Martin et al, 2004). By means of making sure that the project development and management group is properly capable/ trained previous to start a multifarious project. This is very best way through which project manager can be able to significantly diminish the project cost; augment project effectiveness and risk of project collapse predominantly in high-risk projects. So we can say that a project manger can achieve the better project development results through the proper skilled team building (Johnson et al, 2005). It is the responsibility of the project manager to comprehend and establish the functions all team members. Because he is the person who holds the power, the real influence. Other associates function in the course of his control; possibly their category is what formulates them an efficient stakeholder (Martin et al, 2004). As a manager, he has to recognize somebody who provides as the gatekeeper among people he requires to work throughout the project. By boosting our workers abilities and skills, we can be able to significantly reduce the risk of project failure (Connley et al, 2004). A Project manager has to face the unpredictable working situations that continually insist new competencies. So the project managers have to be keen to discover regarding the newest developments in the area of project management, however this has not forever been simple to do (Connley et al, 2004). Consequently the project manager, who does not have a clear picture of project or he has but do not share the intact description of project and its elementary visualization, will finish up in a triumphant technique (Payne et al, 2004). Here I will discuss how a project manger can reduce the risk of the project. The main element is the leadership skills, it means the project manger should have such skills through which he can motivate others to turn out an idea and struggle to attain the objectives those are settled at the start of the project. Next project manger should have high-quality communication capabilities these will provide him priceless information associated to the project position in an opportune and effectual way (Payne et al, 2004). The project manger should have the ability to deal with the conflicts through the conflict resolution skills: underneath in assertion of some project disputes consequently that the project group associates all sense fraction of the procedure and desire to keep on concerned in the project (Connley et al, 2004). The negotiation skills are also important for project manger this will facilitate in the upholding associations by people who are disturbed in the project. The confront for project managers is to work out methodical appearances of project management that are well-organized, decrease project risk, and are expandable and helpful of the individual conditions of more risky projects (Johnson et al, 2005). A good project has to be flexible in lot project management stages so that he can make out the real factors behind the project development and their effects on the project. The project manger have to be determined and firm when it will be essential in this way he will show his tolerance against the lot problems, and his determination for making the project more efficient (Chapman et al, 2003). The project manager is the initiator who raises the whole project and places it into action. Leadership is essential for a project manager who has to stimulate team members who are the part of the development group. A project manager has to work out his management subtly therefore he arouses enthusiastic and constructive hold up for the development and the project group with no reasoning approaches in the direction of home departments to grow weaker. The management requirement is to promote powerful optimistic devotions together to the functional organization and to the project (Chapman et al, 2003). As I have accessed diminution of risk in a project is a win-win state by the entire project individuals taking from the augmented likelihood of project accomplishment. Though, it is frequently becoming known that a project is uncovered to dangers that are further than the project managers and his firm to conclude. Reliance on peripheral associations is one similar risk aspect, so the project manager has to plan in such a way on the whole risk of the project failure can be reduced. Conclusion As concluding the whole discussion I have accessed the main project manager’s abilities and capabilities regarding the better project management and efficient project planning. I have outlined the main factors that facilitate in the enhanced project carry-out and to reduce the risk of project failure. References 1. Chapman, C., and Ward, S. (2003). Project Risk Management: Processes Techniques and Insights. 2nd edition. Wiley and Sons. 2. Connley, Rad, A., and Botzum, S. (2004). Integrated Risk Management Within NASA Programs/Projects", In Space Systems Engineering and Risk Management, Manhattan Beach, CA. 3. Johnson, G., Scholes, K. and Whittington. (2005). Exploring Corporate Strategy. 7th edition. Harlow: Pearson. 4. Kenneth. C. Laudon. (1999). Management Information Systems, 6th edition, NJ, USA: Prentice Hall PTR. 5. Martin, Paula K. and Bruce C. Chadbourne. (2004). the Professional Guide to Risk Assessment: The MTA Step-by-Step Method. Cincinnati, OH: Martin Training Assoc.: 6. Payne, A.C., Chelsom, J.V. and Reavill, L.R.P. (2004). Management for Engineers, Scientists and Technologists. 2nd edition, 2004, Wiley and Sons Read More