Premium Essay

Project Management Paper

In: Business and Management

Submitted By joseph2493
Words 1067
Pages 5
Project Management Paper
MGT 437
October 24, 2011
Michael Koma

Project Management Paper Before anyone can understand what it is to manage a project, he or she must first understand what a project is and how it goes through its lifecycle. This paper will help the reader understand not only what a project is, but also how each phase of the lifecycle comes into play. It will conclude by explaining to the reader why it is important for organizations to use project management to accomplish tasks. What is a project? A project can be simply explained as a set of tasks that need to be accomplished for a particular goal. A little more complicated explanation is that a project is a set of tasks that exist to produce deliverables. So, what is it that makes up a project or how does an organization determine they have a project to complete? There are several questions that if they are answered correctly show an organization that they do have a project. For example, do they have something that has a specific objective to be completed within certain specifications or do they have something that needs to be completed with a defined start and end date. If a company comes to determine that they do have a project, then they must set up a project manager and a team. The project manager will have the task of ensuring that the phases of the project lifecycle are completed within the time frame that the company has given him or her. There are four basic phases to the project lifecycle, which are: initiation, planning, executing, and closing. Each phase serves its own purpose and no one phase can succeed without the other phases succeeding as well. The initiation phase is where the lifecycle begins. In this phase the project manager will sit down with the decision makers to determine where it is the decisions makers want the project to go and...

Similar Documents

Premium Essay

Project Management Paper

...I received full credit for this paper - 100 % Project Management Paper MGT/437 July 8, 2013 Jenny Kirgis, MBA Project Management Paper The purpose of this paper is to define the concepts that are involved in project management. Organizations across the globe utilize a particular kind of organized methodology to manage business projects. Project management is a means that brings significant benefits and discipline to organizations because it helps to define goals and objectives, it highlights the areas of success, and it accesses risk factors involved in the project. In addition it helps to manage change within an organization and it ensures that the corrected resources are available to complete project. The paper will discuss in detail the importance of project management and why organizations utilize it to accomplish project tasks. In addition it will discuss and define a project and it will describe the phases of a project life cycle and their functions. What is a Project? A project is reviewed as any series of tasks and activities that is directly linked to a specific assignment that must be completed by a specified deadline. A project will usually have a concrete start and completion date with a set amount of money allocated to fund the project. Projects are multifunction which consists of both human and nonhuman resources such as equipment, budgets and people (Kerzner, 2006). Project development, planning and implementation...

Words: 1197 - Pages: 5

Premium Essay

Project Management Paper

...University of Phoenix MGT/437: Project Management Project Management Paper November 4, 2012 Project Management Paper Introduction Many would say that the United States is a great place to live. This country gives people choices and many crave the independence of owning their own business. However, owning a business is not as easy as it sounds, it takes hard work and strategic planning. To manage a business you have to have a sound direction in what expertise you would like to tackle. Project management can play an integral role in implementing these plans and attaining these goals. This system is “one of the integral parts of the contemporary management system due to its ability to make sure that the goals set in the beginning of a project correspond exactly to the goals that were achieved later on. It goes without saying that the primarily aim of any project is a certain definite result. Since a project can be applied to various spheres of activity of a company, it automatically gets a wide range of usage (Reynolds, 2009).” The primary purpose of this document is to achieve an enhanced perceptive of project management and to provide information on key elements that is the core of most officially run projects. This document will answer three general questions necessary in the construction of project management. These questions are:  What is project management?  What are the basic phases of the project lifecycle and their purposes?  Why is it important......

Words: 1360 - Pages: 6

Premium Essay

Project Management Paper

...Project Management Paper MGT/437 Project Management Paper Projects can be short term or long term and range from small to large. The one thing about a project is they are always temporary and consist of a group of people. Due to the nature of projects they should never be mistaken or taken lightly. Projects involves investigation of information, compiling what was discovered, arranging the information, and using a team of experts from different backgrounds. Because project have a beginning and end time the project management team has to make sure everything is accounted for and completed within that time when putting the project together. Some people will mistake a task for a project. Task on things that go on day after day as a routine. In order to complete the project in a manner which is successful a team of people who specialized in different areas to bring their knowledge, techniques and skills to the table are assembled. The project management draws from a wide variation of areas like integration, quality, time, cost, risk management, communications, stock holders, scope, and human resources (Project Management Institute, 2015). These backgrounds help to execute the project within cost for the fixed period of time set. Projects have a life cycle with phases and each phase of the project has parts to be completed within that phase of the project. The basic phases of the project life cycle are the initiating, planning, executing, monitoring, and the......

Words: 1136 - Pages: 5

Premium Essay

Project Management Paper

...Project Management According to Kerzner (2009), "A project can be considered to be any series of activities and tasks that have a specific objective to be completed within certain specifications, have a start/end dated, and have funds, human/non-human resources, and are multifunctional.” All projects have a beginning, the embryonic stage and at some point they come to an end which is the death of a project. However before a project can reach the final stage of death there is a life cycle that occurs which will be discussed as the understanding of a project is the focus of this paper. The life cycle of a project undergoes five major phases, and in order for a phase to be reached it must move in a sequential order. The five life cycle phases are conceptual, planning, testing, implementation and project closeout. The initiation phase also referred to as the conception of the project is the first of the five phases. The initiation phase in its most simplistic definition is starting the project. At the start of the project there are key elements that are identified such as the basics of who, what, when, where, and the proposed budget. The scope of work would also be presented at this conceptual phase. The second phase is the planning phase is basically a recap of the first phase but focuses more on the fine details. Those details would include but not limited to project milestones, how the resources will be allocated, the financial plan, how the communication will take......

Words: 781 - Pages: 4

Premium Essay

Project Management Paper

...MGT/437 Project Management Paper In the vastly changing business world, many organizations have found that it is important to implement project management into the organizational strategy. Environmental conditions like a hike in salaries, lack of borrowing power, increasing prices for raw materials, stockholder pressure, and inflation are contributors to the environmental condition. Executives in the past have ease the impact of environmental conditions by implementing cost reduction programs but have found that obtaining better control and better use of the organizations resources, and looking internally for solutions works best in solving organizational problems. What is a Project? A project is any planned set of interrelated tasks identifiable and essential pieces of a job serving as a unit of work that differentiates between the various components of a project. The interrelated tasks involved means completion within a fixed time, and maintained within the costs of an organizations materials, resources, time, and utility consumption, risks, and forgone opportunities of production and delivery of a good or service. A project requires functions lines of the organization to be multifunctional in successful completion of a project. What are the Basic Phases of the Project lifecycle and their purposes? The project lifecycle includes five basic phases. The first is the defining or conceptualization of a project phase. The objective of this......

Words: 1142 - Pages: 5

Free Essay

Project Management Paper

... |with information pertaining to multiple professionals in the | | | |field. Not boring though. | |How much time did it take to realize the purpose of the site? |1 minute |3 minutes | |What is the target audience for the site? |Individuals pursing this field and existing professionals to |Beginners and Project Managers with certifications. | | |find out the latest news for the Project Management field | | |Did the site look the same in multiple browsers, if multiple |Yes |Yes | |browsers were available?...

Words: 628 - Pages: 3

Premium Essay

Project Management Paper

...days Activity 3: expected time = (7[OT] + 15 [MT] + 23[PT]) / 6 expected time = 45 / 6 expected time = 7.5 days Activity 4: expected time = (13[OT] + 16 [MT] + 28[PT]) / 6 expected time = 57 / 6 expected time = 9.5 days Activity 5: expected time = (17[OT] + 20 [MT] + 35[PT]) / 6 expected time = 72/ 6 expected time = 12 days Activity 6: expected time = (20[OT] + 32 [MT] + 50[PT]) / 6 expected time = 102/ 6 expected time = 17 days Activity 7: expected time = (5[OT] + 6 [MT] + 13[PT]) / 6 expected time = 24 / 6 expected time = 4 days The total project completion time is 42.5 days. The probability that McGee Carpet and Trim will finish the project in 40 days or less is low. Because she has unreliable workers and expected time frame...

Words: 313 - Pages: 2

Premium Essay

Project Management Paper

...Mission/ purpose What is your project going to accomplish? How does this project relate to overall goals and objectives of the company? It is part of a program or larger project? ERP Incorporated has been in business since 1997 and is the recognized leader in providing world-class emergency and security planning services and systems. ERP is well equipped to meet clients initial planning needs as well as maintaining and upgrading emergency response plans as the need arises. Safety and security is not only our business but is also our passion. We have successfully completed emergency response plan projects for over 200 clients ranging from small companies to state wide emergency response plans. Some of our accomplishments include implementing an emergency response plans for Brazoria County Texas with a population of over four million people and were able to successfully reduce response times from seven days to two days. This project was completed two months earlier than required and was delivered well within the required budget. We have also created ERP’s for McMasters Elementary for a school of less than 150 staff and students. We pride ourselves in the diversity or our projects and our ability to rise to the demand of any challenge. Our team has conducted a thorough site assessment and the results have determined that the City of Loganville, South Carolina is in need of a detailed emergency response plan. Currently emergency response planning is being provided...

Words: 2610 - Pages: 11

Premium Essay

Project Management Final Paper

...1. Project Definition Form 1.1 Project Title Biaño’s Pizzaderia Inventory Management System 1.2 Project Context On March 27, 2007, the friends and neighbors of Alberto Biaño in Cebu City were treated to the first serving of Mr. Biaño's famous pizza.  This core group became his first loyal customers, as news spread far and wide of the pizza with the great homemade taste that everyone could afford.  Inspired by the resounding success of his initial offering, Alberto Biaño continued to develop his recipes to improve his pizzas' quality and taste until a perfect blend of crispy dough and aromatic sauce was achieved for everyone to enjoy. Another innovation was the concept of the “pizzaderia”, which  combined the words “pizza” and “carenderia”, to describe the little streetside eateries where Biaño’’s delicious but affordable pizzas were enjoyed by  people from all walks of life. Whether for birthdays, anniversaries, celebrations and get-togethers, everyone wanted to make a Biaño’s pizza part of their special treat. From that little pizzaderia in Mabolo, Mr. Biaño soon branched out to Capitol, Tabunok, USC Main, Mandaue and Mactan, making Biaño's pizza a truly well-loved snack in Cebu.  Realizing the potential for such great value in an affordable price, many franchisers from different places all over the country such as Cagayan de Oro, Oroquieta City, Butuan soon became part of the Biaño's Pizzaderia family 1.3 Statement of the Problem As of now, Biano’s Pizzaderia only...

Words: 3731 - Pages: 15

Premium Essay

Technical Paper It Project Management

...Technical Paper Project Information Technology Project Management (CIS517) Date: Introduction There is an old adage which insists “time is money.” While simple, in concept, it has been proven true, in fact. In a global, technologically driven society, however, the very idea of time has changed. Having once implied a spanning space between the hours of “nine to five” relative to the person or organization from whose vantage money was viewed, time is now irrespective of person, organization, or location; it is, literally, “24/7.” With this shift in perception, organizations, especially, have taken on the greater challenge of ensuring efficiency in their operations, allowing their customers the freedom and peace of mind to have access to the products or services they purchased without interruption. Working behind the scenes, as it were, are the IT companies that make the realization of this freedom and peace of mind possible. In the scenario with Fiction Corporation, it is quite evident that the role of IT is paramount to the success of the business, in general, and to the company’s decision to- move, in particular. Big-Proj will receive the “big break” for which it is looking by ensuring compliance with the goals set forth in regards to the scope of the project, the timeline projections, and the budgetary requirement of $500,000.00. Scope Big-Proj has chosen to name this project “Fiction Corporation’s Data-Center Move” to avoid any confusion with......

Words: 2587 - Pages: 11

Premium Essay

Project Management Email Paper

...Project Management Email OPS/571 March 21, 2016 Project Management Email To: Wendell Deirelein/Vice President of Operation Management From: Team Operation Intel Date: March 21, 2016 Re: Piper Industries Corporation Mr. Deirelein as per your request Team Operation Intel has proposed the following recommendation in regards to the three projects and have provided the information that you have requested along with the completion date and cost for each project. The recommendation is listed below: Project Juniper: Schedule Risk: Low Cost: $325000 Durations to completion: 6 months ROI: $250,000 yearly for 2 years total = $ 500,000 Project life: 2-3 years Pros: * Product can be executed. * Risk is manageable * Forecasting risk is low. * Product breakeven is around 1.3 years. Breakeven cost = Cost/ROI= 325000/250000= 1.3 years. * Meets client requirement of product launch in next 12 months. Cons: Company’s future at risk as product life is only 2-3 years. Recommendation: Sustainability is not ensured so not recommended. Project Stargazer: Schedule Risk: Very High Cost: $ 1025000 Durations to completion: More than 1year ROI: ROI of $300,000 first year; $550,000 the second year; and $750,000 the third year. ROI total = $ 1600 000 Project life: 7 years Pros: * Product is futuristic Cons: * Risk is high * Forecasting has high variance. * Product breakeven is around 2.23 year’s years. ROI for first 2 years = 850000 and......

Words: 374 - Pages: 2

Premium Essay

Project Risk Management Paper

...Course Project Project Risk Management Contents Introduction 4 Statement of work 5 Statement of Work—Project Description and 6 WBS 8 Risk Analysis and Probability Matrix – Qualitative Analysis 10 Risk Register 11 Decision Tree 11 Decision Tree Analysis 11 Fault Analysis Tree 12 Fault Tree Analysis Summary 12 Conclusions 13 Works Cited 13 Introduction Sherdon and Anissa Webb have been working parents for over 18 years. Both individuals understand the hardship of starting out and making yourself marketable in the corporate world. Now that their eldest son is in college, and they have seen how hard it was for him to get summer jobs and student work studies, they want to make the path a bit easier for their younger children. Their hope is to start a small business that will eventually become a family affair. This business will help the community as well as allow their children to have summer work growing up and instill in them the entrepreneurial spirit. As part of working class America, Sherdon and Anissa do not have a lot of income at their disposal. They will be investing all of their savings into this business, therefore, proper planning is a must. The business that they have decided to open is an employment agency. After researching the industry, both feel as though there is a market for this service and that the time it will take to open the business is......

Words: 2262 - Pages: 10

Premium Essay

Project Management Concepts and Applications Paper

...Project Management Concepts and Applications Paper Business Management Research Associates (BMRA) teaches Defense Acquisition University (DAU) and Federal Acquisition Institute (FAI) certified courses and elective courses to various agencies worldwide. While BMRA is quite a small company, there is always a need for project management. I have not always been able to lead the projects; I have been a part of the project team to get the work completed, more like an assistant to the project manager. A project that falls under this scope is the one involving the DAU/FAI certification of course materials. The DAU/FAI certified courses offered by BMRA are set to expire this year on September 30, 2015. From October 1, 2015 forward, the expired courses are not valid for credit for students. DAU replaced the expired courses with new ones. The project’s primary goal is completing the certification process for all the required courses before the September 30, 2015 deadline both within time and budget for the company. The DAU/FAI certified courses are BMRA’s primary source of revenue, therefore making this project of the utmost importance. The courses affecting BMRA are listed in the chart below. Previous Course (Expired) Replacement Course (New) CON 215: Intermediate Contracting for Mission Support CON 280: Source Selection and Administration of Contracts CON 217: Cost Analysis and Negotiation Techniques CON 270: Intermediation Cost and Price Analysis CON 218: Advanced......

Words: 968 - Pages: 4

Premium Essay

Mgt437 Project Management Paper - Week 1

...Project Management Student Name Project Management MGT/437 Date Instructor Project Management According to "Project Management" (2004), Project Management is “a methodical approach to planning and guiding project processes from start to finish.” By following an established project management life-cycle businesses can ensure the established goals and objectives of the organization are realized in a consistent and uniform manner within a defined timeframe and within budget. A brief definition of a project with key characteristics is presented within this paper. Each phase of the project life-cycle, including the definition phase, planning phase, implementation phase, and closure phase are also identified and discussed. In addition, key reasons to underline why it is important for businesses to apply project management techniques to accomplish tasks required to achieve the established goals and objectives are provided. A project is set of related tasks executed to achieve a set of objectives and goals within an established timeline and an approved budget. Projects are temporary and can be short-term (a few days, few weeks, or a few months) or long-term (multiple months or years). Each project is unique in scope, schedule, and budget. Projects consist of a Definition Phase, a Planning Phase, an......

Words: 1172 - Pages: 5

Premium Essay

2011 Project Management Institute’s Project of the Year Award Research Paper

...2011 Project Management Institute’s Project of the Year Award Research Paper Naressa Hackney Menser Dr. Jacob Ogunlade CIS 517 Project Management October 16, 2011 The Project Management Institute is one of the world leading non-profit membership association organizations in the world. It specializes in education of project management typically for those who are in the project management profession, but is also useful for any person who works with projects in their career. Project Management Institute (PMI) is a Global advocate for program management which is supported by their globally recognized standards, extensive research programs and credentials. PMI offers professional development through offering project management certification and awards. One award that is offered through PMI is the Project of the Year Award. The Project of the Year Award is a annual award that recognizes the accomplishments of a project and the project team for performing superior work on a project and executing exemplary project management. This awards point out the highlights and achievements of a project that followed PMI standards and demonstrated successes throughout the project. Successes in a project could be that it was finished ahead of schedule or it was completed well under budget. The Project of the Year Award is a global award and is awarded regardless of organizational size or PMI affiliation or membership. The only exemptions for participation in the award is current PMI......

Words: 743 - Pages: 3