Premium Essay

Important of Project Management

In: Business and Management

Submitted By ronyim
Words 3655
Pages 15
1a The definition of project.

Project is temporary endeavor with a defined beginning and end, undertaken to meet the unique goals and objectives, usually to bring beneficial change or added value.
It is a complex, non-routine, start date, specific objectives and conditions, clarify responsibilities, budget planning, a fixed end date, and participatory activities. The project's main goal is to meet customer needs, and carefully planned in order to achieve a specific purpose.
To defining a project, its describes a discipline, structured method for selectively collecting information to use through all phases of the project life cycle, to meet the needs of all stakeholders, and to measure performance against the strategic plan of the organization.
There are five generic steps for developing a project plan:

Defining the Project Scope
Project scope is a definition of the end results of a project, mainly is to define as clearly as possible.
Project Scope describes what is the expectations to delivered when the project complete, it should define the results to be achieved in specific, tangible and measurable terms.
To ensure that scope definition is complete, there is a checklist:
 Project objective
The first step of project scope definition is to define the overall objective to meet the needs.
 Deliverables
The next step is to define major deliverables.
 Milestones
A milestone is a significant event in a project that occurs at a point in time. It should be natural, important control points in the project.
 Technical requirements
A product or service will have technical requirements to ensure proper performance.
 Limits and exclusions
The limits of scope should be defined. Failure to do so can lead to false expectations and to expending resources and time on the wrong problem.
 Reviews with customer
Completion of the scope checklist ends with a…...

Similar Documents

Premium Essay

The Important of Supply Chain Management

...The important of supply chain management In the traditional view, the supply chain includes manufacturers, wholesaler’s retailers. For example, the manufacturer could sell directly to an individual for household usage, sell to a retailer for sale to the individual or sell to wholesalers for sale to the retailer, who then sells to the individual. Thus, supply chains consist of all the institutions and all the marketing activities such as storage, financing, purchasing and transportation that are spread over time and geographical space throughout the marketing process. According to Tom McGuffog Supply Chain Management (SCM) is a maximising added value and reducing total cost across the entire trading process through focusing on speed and certainty of response to the market. Due to globalization and ICT, supply chain management has become a tool for companies to compete effectively either at a local level or at a global scale. Supply chain management has become a necessity especially for manufacturing industry when it comes to deliver products at a competitive cost and at a higher quality than their competitors. The supply chain management process flows consists of 3 main flows that are the product flow, the information flow and the finance flow. The product flow usually involves movement of products from a supplier to a customer, and also the back end process such as any customer returns or service needs. The information flow involves the flow of information on orders and......

Words: 917 - Pages: 4

Premium Essay

Project Management

...Project Management Jo Anne Bishop Ashford University Project Planning and Management BUS611 Dr. Caroline Howard October 14, 2012 Project Management Effective project management is crucial to the success of any project regardless of the size or complexity. Project management experts Karen Tate and Paula Martin said, “Trying to manage a project without project management is like trying to play football without a game plan” (Martin & Tate, 2001, pg 9). Project managers have a difficult job. Their jobs are often times made more difficult by the dynamic environment in which they must work. Project managers must take a project through the entire project management life-cycle, from an idea to a fully developed deliverable. While the job is difficult, there are many tools and processes that have been developed to assist in project management. While they are responsible for the leadership of the project, they have many, such as the project sponsor and project team members, who are there to assist them in ensuring the job gets done. In addition to the personnel who will help him, there are many different project management tools as well. Project scope, work breakdown structures, contingency plans and project management software are all tools that, if used properly, can ensure that a project can be completed within time and budget. Project management is not an easy job but if a project manager understands his project and his roles and responsibilities along with......

Words: 3003 - Pages: 13

Premium Essay

Emotional Intelligence and Why Is It Important in Project Management

...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......

Words: 554 - Pages: 3

Premium Essay

Why Is Project Managment Important

...Why Is Project Management Important Why Is Project Management Important Nelson Santiago PM3110 Abstract What’s project management first of all? According to the PMBoK guide it reads as follows, “a project is defined as “a temporary endeavor undertaken to create a unique product or service.” Think About how amny times we have done project management in our everyday lives. Even if I didn’t take this class I would still be using some of the key principles of project management as defined in our book even though I might not know exactly what they are called the process is still the same. Why is Project Management Important Project management is a very important part of business epically in the information technology field where technology is always changing. If you really think about how businesses use project management its mainly used to try to gain a competitive edge on their competitors, to draw customers to their products or services. You may not realize it but you use project management in everyday life such as writing a paper, taking this course and even trying to graduate. It can be as simple as doing homework or as complex as building a new football stadium where millions of dollars are on the line. . Why is it important to have project management? I think it can be describes in one word structure. Without structure it would make things very difficult to accomplish anything worth doing. It would make things very chaotic and disorganized without it. ......

Words: 449 - Pages: 2

Premium Essay

Project Management-Course Project

...Paradise Assisted Living Project Arlynne Lumbao MGMT 404 Project Management DeVry University June 8, 2013 Executive Summary: The XYZ Health Care Corporation is growing so fast and has met the maximum capacity of 20 residents. The CEO and the Director Manager have decided to start a project for a new Home called Paradise Assisted Living to meet the needs of the elderly that are in the waiting list. The total cost for this project to start a new Home Assisted Living is approximately $500,000.00, including home purchase, appliances and furniture purchase, assigned team member, new staff training, and necessary renovations and adjustments. Scope Statement Goal Definition The Paradise Assisted Living Project is a home base setting in a three bedroom home with occupancy of 6 residents which will meet the healthcare regulations of 2 residents in each room. Accessible design features of the home such as hand rails, wider doorways, lever handles, special showers, wider hallways, and grab bars will be added. Prior in obtaining licensure, the home must have a secure and maintain an appropriate facility fire clearance approved by the fire authority having jurisdiction. The home must meet standards established by the State Fire Marshal and the local fire authority having jurisdiction for the protection of life and property against fire. A written emergency disaster plan that contains a plan for evacuation will addresses elements of sheltering, identifies......

Words: 2581 - Pages: 11

Premium Essay

Project Management

...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......

Words: 1987 - Pages: 8

Premium Essay

Project Management

...Project Management Assignment 1 Describe the role of the project manager and identify the project management key elements of an effective project manager. Project management briefly refers to a process of managing a project successfully. Then, in order to achieve an outstanding project outcome; resources, costs, time and even the quality of projects should be optimally managed in this process (Meredith and Mantel, 2010). The project manager, therefore, performs a core role in a project. As Wallace (2002) demonstrated, the project manager should reasonably coordinate and manage everything directly or indirectly involved in the project as the centre of it. For example, the project manager might continue to communicate with some relevant departments until the project’s accomplished. Or perhaps, the project manager is required to provide staff with a comfortable external environment. Hence, the project manager has a full responsibility for each phase of the project. Hartley (2009) described a project life cycle is generally classified as four phases that are definition, planning, execution and completion respectively. At the initiation of the project, or the first phase, the project scope should be aware correctly based on the project’s feasibility and assessment (Thomsett, 2002). This is; series of issues such as specific goals, working criteria, and tasks should be clearly determined. Due to the purpose of protecting project stakeholders’ interest, this phase performs a...

Words: 1090 - Pages: 5

Premium Essay

Project Management

...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...

Words: 1495 - Pages: 6

Premium Essay

Why Time Management Is Important

...Why Time management is important???? “REMEMBER THAT TIME IS MONEY” (BEN FRANKLIN) To work effectively you really have to manage your time. "Time is money". That statement alone probably convinced 50 percent of the population as to why time management is important! For the rest, the benefits are multiple and the relation with time management might not be as obvious for people whom haven't yet experienced it themselves. Time management is important because it is an irreplaceable resource. Each second that becomes part of your past will never be part of your present or future ever again. Using each second, minute and hour of the day wisely is important. In a business time is money and every hour you spend at work costs your employer a lot of money it is not just the salary that the employer needs to pay out, there is also heating lighting telephone costs training etc for the employees to be at work at that time. For the individuals, good time management skills usually mean that the employee feels more in control of their workload Poor Time Management is usually shown by: • Getting less done than you expected. • An inability to meet deadlines set by your line manager • Not knowing what to do or how to start • Meetings going no longer than expected • Talking on too much work in the first place because you feel you have to say yes and help others • Putting off......

Words: 1603 - Pages: 7

Premium Essay

Project Management

...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......

Words: 3170 - Pages: 13

Premium Essay

Project Management

...Level 6 Project Management Contents Introduction 3 Changes to legislation are reflective of broader social, economic and political trends. Mental health as a general public concern – and its role in the workplace – has garnered increasing attention over the past several years. One in five Canadians will experience a mental disorder in their lifetime. Whatever the reason for this new awareness, mental illness and poor mental health is now being recognized as a major business concern. 3 In order for workplace health promotion to be adopted, it must make a difference to the financial bottom line and be presented as a strategic priority to organizations. Taking a proactive approach to protecting employees’ mental health is the right move for organizations looking to keep a healthy staff team and a healthy budget. There this company, XYZ want to help improve the mental health of employees as it is beneficial in helping both the individual and the whole organization to achieve long-term excellence. As a result, a detailed project plan is described in the report that tells how the overall project will be carried out. 3 1 The Definition of Project 3 1.1 Project Objectives: 4 2. Business Projects: 4 Key Personnel Involved is: 5 2.1Assessment of costs relating to stress and psychosocial risks 5 2.2 Methodology for Carrying out the Project: 6 Creating a Healthy Workplace Committee 6 2.3 Conducting a Situational Assessment – Getting to the Root of the......

Words: 4745 - Pages: 19

Premium Essay

Project Management

...Project Management Exxon Mobil Oil Company Synopsis This paper focuses on the aspects of project management as far as the integral demands for the project management are concerned. Essentially, project management is geared towards achieving the solid goal of the organization which is merely dependent on the policy framework, production mechanisms and the overall performance of the operations manager. In this regard, this paper focuses on the main issue of operations of Exxon Mobil Oil Company which is a major player in the oil industry in US. This company has a well established supply chain which has been responsible for the maintenance of a market leadership for a long time. In fact, business operations at the company have been pegged on a number of project management essentials such as information technology in the management and manipulation of business data. In this regard, business activities at the company has been a practical lesson to majority of its feeder companies which are still struggling to realize a significant market potential as ExxonMobil in the long-run. Indeed, this paper therefore employs theoretical and practical understanding of the essentials of business model assumed by the oil and gas company towards developing proficient business activities in the industry and the globe at large. Background Exxon Mobil Corporation is a multinational Oil and Gas Company based in America and headquartered in The Irving region of Texas, US. This company is the...

Words: 5640 - Pages: 23

Premium Essay

Project Management Course Project

...Running Head: Project Management Profession: Project Management Stephanie Artiles Devry University Instructor: Larissa Williamson Laws420 Abstract The purpose of writing this report is to find out more information about the profession I am interested in. Knowing what makes it a profession, learning about its ethical codes and standards that I will need to abide by soon. And gaining knowledge about some the dilemmas that Project Managers go through to prepare myself for the future; and know what kind of problems to expect. This report will inform me as well as my audience important information about what is needed from project managers and the behavior they will need in order to perform their duties. Also, give them a heads up and prepare them about any problems they may encounter as a project manager that can happen to anybody. Project Management Project Managers are committed to doing what is right and honorable. They set high standards for themselves and aspire to meet these standards in all aspects of our lives whether is at work, at home, and in service to our profession [ (Barry) ]. I believe that this profession you will need education in order to pursue your goals and be a successful project manager. For the reason why, being a project manager is mainly about being an effective leader; which means one must learn how to communicate well with others and must learn how to set achievable goals for which they can envision for themselves, their team and......

Words: 1671 - Pages: 7

Premium Essay

Project Management and Project Success

...Project Management and Project Success Project management is the facilitation of the planning, scheduling and controlling of all activities that need to be done in the project in order to achieve project objectives. Project management is a very important term in large and small businesses because all businesses are eager to implement new activities, such as the development of a new project and service. In addition project success requires proper planning and help from a management team. A project can be successful if it exceeds customer requirements, the business aims are understood and it meets the objectives. The aim of this essay is to critically analyserelevant academic literature for factors contributing to the successful delivery of computing projects. This essay begins by providing a brief overview of Waterfall and Agile then moves on to critically analyse them. Following that the importance Risk Management will be discussed.Finallyan additional project management will be discoursed and essay then concluding the main point of the findings. There are many different types project management approaches, but the most common project management approached which are being used in around many years are Agile and Waterfall. Agile project management has been around for more than 25 years. This approach was first defined as Agile Manifesto by Martin Fowler and Jim Highsmith. Manifesto has been a controlling valuein entire Agile Project Management models (Robert K. Wysocki,......

Words: 1337 - Pages: 6

Premium Essay

Management Project

...UNIVERSITY OF SUNDERLAND BA (HONS) BUSINESS MANAGEMENT Student ID: 149165417/1 | Student Name: TRAN PHUONG PHI | Module Code: SIM 335 | Module Name / Title: Managing Project | Centre / College: UTE Ho Chi Minh, Vietnam | Due Date: Friday, 9th October, 2015 | Hand in Date: Friday, 9th October, 2015 | Assignment Title: MANAGING PROJECT | Students Signature: (you must sign this declaring that it is all your own work and all sources of information have been referenced) | Table of Contents Task 1 4 What are the core principles/characteristics of a project and why are they important to Project Managers? 4 The core principles/characteristics of a project: 4 The importance of projects’ core principles/characteristics to Project Manger 4 How would you define the scope of a project, what benefits would this give to the successful completion of the project? 5 Using the information below, plot out a full project Gantt chart and identify the critical path? How many days does it take to complete the project? What are the benefits of using a Gantt chart? 6 Cost management is important for running successful projects. Identify four of the common sources of project costs. 7 Risk Management is an intrinsic part of project management, what would you include in your Risk Management plan for managing the risks in a project. 7 What quality methods (project evaluation, monitoring and control) would you introduce to ensure projects are completed......

Words: 4148 - Pages: 17