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Tools for Pm

In: Business and Management

Submitted By cmbenson78
Words 1692
Pages 7
Helpful Tools for Project Management
Christopher Benson
INF 337: Integrate Cost & Schedule Control
Instructor: Shane Lauber
September 22, 2014

The past 30 years have witnessed a dramatic increase in the number and variety of organizations engaged in project-based work. In addition to “traditional” project-oriented industries, like construction, aerospace, and pharmaceuticals, service industries as diverse as finance, utilities, telecommunications, and insurance are beginning to embrace project based ventures. This paradigm shift is due to growing recognition that projects and their effective management can provide organizations with a significant competitive edge through cost reduction, enhanced responsiveness, and overall value to customers. Consequently, a number of organizations have adopted many of the well-known techniques of project management, and professional project management organizations have witnessed marked increases in membership. Despite this enormous interest in projects and project management practices, success rates in many industries are at alarmingly low levels. In addition, bad news about high-profile projects continues to dominate the headlines – in both the public and private sectors (Venkataraman & Pinto, 2008). A lot of this bad news comes from the PM (Project Manager) not being educated on all the tools at his/her disposal to be better prepared to prevent the project from failing. In order for anything to succeed, it must have a strong foundation and the foundation for project management to succeed the PM should start with a WBS (Work Breakdown Structure). The work breakdown structure is said to be (if not the most important) one of the most important tools a project manager should possess. The WBS provides the basic processes needed in order to start the project such as the development of the schedule,…...

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