...emotional intelligence and why is it important in project management? How did you score on the emotional intelligence mini-assessment? What areas do you need to strengthen in order to raise your own emotional intelligence? Describe the characteristics that would make a Project Manager "emotionally intelligent". Emotional Intelligence (EI) is the ability to realize, understand and control self emotions and that of others and groups. The application of Emotional Intelligence would result in creating deep relationships, surround you with content people and help build a successful journey both professionally and personally. This significant personal trait of EI is needed as a project manager, as the main focus of the PM is to plan, manage, monitor and control work and tasks done by others. EI is as important as using project management processes and tools. It helps in people management, building teams and becoming an inspiring leader. EI is important to Project Managers as is for any leader. It would be even more important for PMs, as a project is for a fixed duration with a set deliverable. It is not an on-going operation with regular people working on it through out the course. Project Managers are responsible for moving the project forward. They would have to work with different sets of people, make sure there is harmony in the team, resolve conflicts, maintain integrity and lead everyone towards the project’s objective. Project Managers have shorter duration to connect...
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...Name: Hrushikesh S Datar ID: 10320626 Assignment: Project management analysis report. Introduction: Project management is an important department in an organisation. Project manager is a sort of connecting link between senior and junior level management. A project management means a process of planning, managing resources and working together to achieve a common goal. Furthermore, Project management includes five steps of system development life cycle i.e. initiation, planning, controlling, closing and development. (Project_management) Definitions: A project management can be defined as “A process of planning, monitoring, control and reviewing projects by using principles and techniques.” (http://www.businessdictionary.com/definition/project-management.html) “A phenomenon where definition, control, planning, deployment and monitoring comes together to get a common benefits is known as project management.” (Definitions.asp) “A project management is a summation of all models and methodologies which needs individual task completion.” (www.actano.com/20911_EN-What%B4s_new-Glossary.htm) PMBOK categories for effective project management: A project undertaken by well known university in New Zealand is to design and develop complaint management system for students in a university. Project Overview: A university is developing online complaint management system in which students can lodge their complaints on a portal created by university and connected to the website of the...
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...current IT world Project management is about being controlled from the start of the job to the end. Efficient and effective teams with a leader that can encourage cooperation and motivate to get outcome as all are working toward the same goal. It is in everyone’s best attention to work together to the works success. Project management is appropriate to many businesses and organizations. Some basic industries that use project management include Information technology, telecommunication, construction, software development, banking, manufacturing, professional engineering and architecture, computers. Project management is important because tough budgets, reducing resources, limited time constraints, and competition to improve the methods we do business in the competitive environment. The great ability of project management makes it possible to focus on priorities, track and measure performance, overcome challenges and issues, become flexible enough to adjust to change and reach higher performance and a higher probability of success in each and every project. The challenges of project management most especially the high hopes from senior management combined with little or no hierarchical permission are powerful, but project managers can influence the entire path of an organization. Project management is very important in today's business environment when one considers the repercussions of the lack of good project management or when project management is not successful applied...
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...Chapter 1 An Introduction to Project, Program, and Portfolio Management LEARNING OBJECTIVES After reading this chapter, you will be able to: Understand the growing need for better project, program, and portfolio management Explain what a project is, provide examples of projects, list various attributes of projects, and describe project constraints Describe project management and discuss key elements of the project management framework, including project stakeholders, the project management knowledge areas, common tools and techniques, and project success factors Discuss the relationship between project, program, and portfolio management and their contribution to enterprise success Describe the project management profession, including suggested skills for project, program, and portfolio managers, the role of professional organizations like the Project Management Institute, the importance of certification and ethics, and the growth of project and portfolio management software 2 OPENING CASE Doug Milis, the Chief Executive Officer (CEO) of Global Construction, Inc., was summarizing annual corporate highlights to the board of directors. Like many other large construction companies, they had a very difficult year. They had to scale down operations and let some employees go. When one of the board members asked what he was most proud of that year, Doug thought for a few seconds, and then replied, “Excellent question, Gabe. Honestly, I think the main reason we survived this...
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...1.0 Why project management is important Project Management is the application of knowledge, skills, tools, and techniques to project activities in order to meet project requirements. Project management involves in a series of organizing components of a project. Such activities on the project are like development of new products, launching of a new service and marketing campaign. Project management also involves in planning, organizing, leading and controlling the resources both human and physical to reach the project’s goals effectively and efficiently. Therefore, project management has a very broad term of explaining it, as it covers different techniques, methods, process and strategies and the main purpose of all of them that is to minimize the chances of loss or failure of any projects (MAJEED, 2013). Project management gives a system to help finish objectives. Every project is different, however all impart their beginnings in a thought what could be and a potential for a decent conclusion if that thought is guided into reality. Thus, project management is really essential in determining the success of that current projects. Project Management is important because it monitors closely and control processes and schedules and this can more effectively complete each projects according to its given time, cost and scope. Increasing or decreasing each of these three elements will impact one another. • Timeline The importance of project management is because it gives a clear...
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...Managing Project Table of Contents Introduction 3 Task 1: Different aspect of a Project 4 1.1 Core characteristics of a project: 4 1.2 Scope of the Project: 4 1.3 Critical Path Method and Gantt chart: 5 1.4 Cost appraisal method and its benefits: 6 1.5 Assessment and management risk: 6 1.6 Quality method used for successful completion of the project: 6 Task 2: Formal report on the project of ABEK Ltd: 7 2.1 Description of the project of ABEK Ltd: 7 2.2 Project lifecycle: 7 2.3 Breakdown of Project work: 9 2.4 Gantt chart: 9 2.5 Cost breakdown structure: 10 2.6 Network diagram: 10 2.6 Project management skills 11 2.8 Project manager leadership style: 11 2.9 Project Control Techniques: 12 Risk management: 12 Conclusion 13 References 14 Introduction Project is the combination of a series of sequential activities for attaining a specific goal within a specified time period utilizing a definite amount of resources. Project management is the process of attaining the desired goal by applying different techniques and strategies using the financial and human resource of the company. This assignment deals with the management of different types of project. In the first task, different aspects of a project is described along with characteristics, limitations, and scope and risk control. A PERT diagram is drawn for calculating the CPM and Gantt chart. In the second task, a formal report is prepared for ABEK limited. Task 1: Different aspect...
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...National Bank, the main problem is that there is no communication and cooperation between departments due to absence of a project manager, who could act as focal point for the integration work. For solving their problem Mohawk National Bank is thinking to consider a new organizational structure: matrix organization. The main obstacle of this project is the hostility at change of most of the employees. For overcome this obstacle Bank top-managers have to find a Project Manager that can motivate and convince people that this change it is important and necessary for Bank’s business life. The first step is to select the right people within the organization. Looking carefully at the interviewed of the most competent employees it seems that nobody it is perfectly suitable for the project, so it is fundamental the support of top Management. Top Management have to choose one of those in trial for some month and then decide if assigned him/her permanently to the position of Project Manager. Question 2: What are some of the major reason why employees do not want to become project managers? Banks are generally traditionalist and regimented, mainly due to strict rules, policies and procedures. Also employees have got similar characteristics: many of them have been in Mohawk Bank between 20 and 30 years and for this reason they will resist to change and fight the project all the time (e.g. Andrew Medina). They won’t accept the new system until they see it works, so the biggest challenge...
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...a multi-project organization Eric Lorentzon Department of Industrial Management and Logistics, Lund University, Faculty of Engineering SE-221 00 Lund, Sweden ------------------------------------------------- This article is based on a master thesis written in 2011 at Lund Institute of Technology in cooperation with a multi-project organization. The main purpose of this thesis was to seek understanding of what factors that affects the effectiveness in the project activities in a multi-project organization. The work is based on a case study at a multi-project organization. Background The things that characterize a multi-project organization are that several projects are always carried out simultaneously, the projects integrate with each other and they affect the environment around them. To get a deeper understanding of how the project staff in a multi-project organization are working and what affects the effectiveness when the projects are executed, I contacted a multi-project organization. The company in this study has two functional divisions called market and production. At the company the project managers are, together with project members from these two divisions, executing projects that are based on commissions from external clients. The employees only work with tasks that somehow are related to the project activities. The company continuously undertakes new projects and the work environment is very project intensive, which means that both the project managers...
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...Summarize Procurement Management Project procurement management is all about the processes related to purchasing or acquiring the products, services or results needed from outside the project team. Project management, a new foundation of a successful organization, has revolutionized the way businesses operate and the realization of effective project procurement management. Through our own research and ability to adapt over time, we have learned the power of proper project management and its ability to have a positive influence on procurement and acquisitions. Like most companies, procurement and acquisitions is one of many operations and is also one of the most important due to its ability to have a direct correlation to success and/or failure. This paper is going to look at procurement management and help define its fundamentals in association to my project on development of a Spanish queue for a call center. What exactly is Project Procurement Management? To answer this we must first go back to the principle ideological foundations of project procurement management we have learned from our earlier educational years. We understand that project procurement management is part of the project management process in which products or services are acquired or purchased from outside the existing employee base in order to complete the task or project (Farnham, 2013). Interestingly enough we learn from the beginning how there are multiple processes involved in project procurement including...
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...Project management techniques and tools are applied to manage Project Orion so as to make it a success. A project could be defined as a set of temporary activities and efforts that have a clear-cut duration and objectives. Project Management Institute (2013) has developed a complete set of processes and tools for managing projects, and A Guide to the Project management body of knowledge developed by Project Management Institute has been accepted by as US national standards for managing projects. This standard is widely adopted in other countries. The core objectives of project management is to achieve project success within give constraints in time, quality, cost and risk, and to attain the expectations and satisfaction of core stakeholders (Kerzner, 2009). This section specifies how Project Orion should management along with the rationale for launching it, on the basis of project management knowledge and theories. Special attention is given to project time management, project cost management, project quality management, project risk management, and stakeholder management. In detail, Project Orion is managed with four major phases, as shown in Appendix 1, namely Project Initiation, Project Planning, Project Execution and Project Closure. Each of these phases is addressed with details below. Usually a project involves various stakeholders, and they have different interests in the project. Support from stakeholders is usually important for achieving project success and stakeholder...
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...industry, competition is aggressive and dynamic where competitor will compete to gain the orders. Slack, Chambers and Johnston (2010) states that, there are five elements which are quality, speed, cost, flexibility and dependability are essential in operation objectives. XYTech has to fulfill all the elements in their operation objectives in which their customer expects besides meeting their machineries specification and requirements. As automation competitor competes with each other, order qualifying factors are the same in which customers look at all the five elements. To be an order winning, XYTech approach is by emphasizing their customer that once orders are received, their orders are manage by qualified Project Management Team. This is because XYTech adopted project process in their operation process, as their core is customization of product (Slack,...
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...Project Management, 2e (Pinto) Chapter 1 Introduction: Why Project Management? 1.1 True/False 1) Projects, rather than repetitive tasks, are now the basis for most value-added in business. Answer: TRUE Diff: 1 Section: 1.0 Introduction Skill: Factual AACSB Tag: Reflective 2) Projects have a process orientation. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Definition AACSB Tag: Reflective 3) A typical project stays within functional and organizational boundaries. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Definition AACSB Tag: Reflective 4) The special nature of projects relieves project managers from their routine of planning, organizing, motivating, directing, and controlling. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Factual AACSB Tag: Reflective 5) A project exists outside of the standard line organization. Answer: TRUE Diff: 2 Section: 1.1 What Is a Project? Skill: Factual AACSB Tag: Reflective 6) The initial goal and technical specifications of the project are developed during the planning stage. Answer: FALSE Diff: 2 Section: 1.3 Project Life Cycles Skill: Factual AACSB Tag: Reflective 7) Client interest in a project is highest during the termination and conceptual phases. Answer: TRUE Diff: 2 Section: 1.3 Project Life Cycles Skill: Factual AACSB Tag: Reflective 8) The classic triple constraint standard for project performance...
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...Analyse the different project control and configuration management techniques and discuss the reasons why a particular technique was chosen for your project. There are several project control techniques that can be utilised during project execution so that potential problems can be identified and appropriate corrective action can be taken in a timely manner. This is very useful in analysing project performance and measuring regularly against the project management plan. One of the most commonly used project control techniques is Earned Value Management (EVM). It is a structured approach to planning, cost and performance measurement. The fundamental principle is that it integrates time, scope and cost objectives to provide a quantitative assessment of the present project status and its likely future performance. This method also highlights potential issues and can enable the Project Manager to make informed decisions to take corrective action(s). Before EVM can be effectively applied to projects, certain elements need to be in place first. ▪ Work Breakdown Structure / Organisation Breakdown Structures: The WBS and OBS define the work to be done on the project and who will do it. ▪ Baseline Plan / Budget: The time-phased budget for the project will provide the primary baseline against which progress and expenditure will be measured. ▪ Status Updates: Performance data relating to project costs and progress must be accurate and provided in a timely fashion...
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...Project Management: Achieving Competitive Advantage, 3e (Pinto) Chapter 1 Introduction: Why Project Management? 1.1 True/False Questions 1) Projects, rather than repetitive tasks, are now the basis for most value-added in business. Answer: TRUE Diff: 1 Section: 1.0 Introduction Skill: Factual AACSB Tag: Reflective 2) Projects are typically ongoing, day-to-day activities that have goods and services as outputs. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Definition AACSB Tag: Reflective 3) A typical project stays within functional and organizational boundaries. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Definition AACSB Tag: Reflective 4) The special nature of projects relieves project managers from their routine of planning, organizing, motivating, directing, and controlling. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Factual AACSB Tag: Reflective 5) A project exists outside of the standard line organization. Answer: TRUE Diff: 2 Section: 1.1 What Is a Project? Skill: Factual AACSB Tag: Reflective 6) Product life cycles are longer now than twenty years ago. Answer: FALSE Diff: 2 Section: 1.2 Why Are Projects Important? Skill: Factual AACSB Tag: Reflective 7) The emergence of global markets has made project management skills more critical. Answer: TRUE Diff: 1 Section: 1.2 Why Are Projects Important? Skill: Factual AACSB Tag: Reflective ...
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...Impact of Risk Management in Application Development Abstract: Nowadays, software is becoming a major part of enterprise business. Software development is activity connected with advanced technology and high level of knowledge. Risks on software development projects must be successfully mitigated to produce successful software systems. Lack of a defined approach to risk management is one of the common causes for project failures. To improve project chances for success, this work investigates common risk impact areas to perceive a foundation that can be used to define a common approach to software risk management. Based on typical risk impact areas on software development projects, we propose three risk management strategies suitable for a broad area of enterprises and software development projects with different amounts of connected risks. Proposed strategies define activities that should be performed for successful risk management, the one that will enable software development projects to perceive risks as soon as possible and to solve problems connected with risk materialization. We also propose a risk-based approach to software development planning and risk management as attempts to address and retire the highest impact risks as early as possible in the development process. Proposed strategies should improve risk management on software development projects and help to create a successful software solution. Table of contents: 1. Introduction ...
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