Introduction to Consolidated Portfolio
In the following consolidated portfolio, the topics on project management has been assessed. 10 weekly portfolios have been created and are combined together to form a consolidated portfolio. The consolidated portfolio discussed three learning outcomes and have summarised it accordingly. The evidence in support of the summary has been explained and assessed accordingly. The reasons for adopting the methodologies of project management has been explained. The outcomes from the impact of stakeholder on project management methodologies have been evaluated. The justification for choosing the methodologies of project management for meeting its goals has been assessed and discussed appropriately in the following portfolio.
1. Project management has been present for a long time and the concepts has been used for several innovations for the last 40 years. This is similar to my assumptions and experiences that I had when I was working in the 1990s and 2000s. During 1990s, the projects were not so complicated and the applications and developmental stage was very basic. Recently during the construction of a gas processing facility, I witnessed the usage of methodologies in the project cycle. I realized that the project management methodologies that were used in the early 1990s were vastly different from the methodologies. The stress was given on the deliverables of the project which had the main cost, time and scope of the project. This was used to increase the profitability of the entire project.
At my workplace, my employer makes use of several methodologies of project management alongside proper guidelines and regulations. A continuous connectivity is necessary for maintaining the organizational continuity and enabling the same business culture without thinking about the domain or geographical location.
Evidence
The evidence that the learning outcome has been met is the fact that in my present organisation where I work, my manager used a number of assessment to determine whether adopting project management methodology in the organisation is beneficial. I was a part of the analysis team and it helped me greatly for educational purposes.
2. Summary
From this, I learnt that stakeholder management is an important segment to the conveyance of any task, program or activities. Any individual, gathering or association that can influence, be influenced by, or see itself to be influenced by a program is known as a stakeholder.
Stakeholder Management includes recognizable proof of partners, evaluation of their desires and impacts, improvement of proper methodologies to work with the partners and executing the procedure. Communication frequently is required with the partners. I learnt that Requirements and desires for the partners need to be comprehended. Overseeing interests that conflict and including partners in key choices is essential. I also learnt that the project manager is relied upon to have the capacity to distinguish the necessities and impacts of the partners to oversee them effectively. Stakeholder needs are to be recognized at the starting of the project to guarantee that every one of their prerequisites and voices are considered. The partners can be arranged based on their enthusiasm for the task, the level of impact on the undertaking result and their contribution. For the achievement of the mentioned project, the manager needs a relationship that is achievement oriented. Construction projects attracts interests from different partners who express needs and assumptions regarding the task. These are frequently in struggle with each other and it is impossible that every one of them can be satisfied. The Stakeholder management process includes assessing the requirements and desires for partners in connection to the principle targets of the task. A critical reason for this assessment is partner investigation. The approach depends on built up hypothesis, learning of Stakeholder management and experimental information. Stakeholders are the individuals who can emphatically or adversely affected by the yield of the projects. It is critical for an effective project manager to distinguish the names of partners amid the start phase of the tasks. The partners can be outside and interior both. Hardly any cases of partners can be the clients, the customers, the task colleagues, the utilitarian supervisors, the record directors, the activity managers, vendors and purchasers. It is obligatory for an undertaking director to distinguish the partners and deal with their desires for the duration of the life-cycle of the project. It can be expensive if the expectations of the stakeholders are ignored and it can enormously affect the project.
Learning Outcome 1: Evolution of Project Management Methodologies
A project manager must deal with the impact of the considerable number of stakeholders in connection to the task necessities to guarantee a proper result. He should deal with the interests of the partners adjusting the prerequisites of the task. I learnt this from my project manager of my team in my workplace.
3. Project Initiation is the main stage in the Project Life Cycle and basically includes beginning up the project. I learnt that the project needs to be initiated by stating its cope and purposes and justifying the reason for initiating it.
I understood that subsequent to characterizing the undertaking and naming the project team, you’re prepared to enter the definite Project Planning stage. This includes making a suite of arranging archives to help control the group all through the project conveyance.
I understood that with a reasonable meaning of the project and a suite of project designs, the person is ready to get into the final stages of the project. This is the stage in which the expectations are physically constructed and exhibited to the client for acknowledgment.
While every deliverable is being built, a suite of administration forms are attempted to screen and control the expectations being provided by the project.
These procedures incorporate overseeing time, cost, quality, change, dangers, issues, providers, clients and correspondence.
When every one of the expectations have been created and the client has acknowledged the last arrangement, the project is prepared for closure. I understood that project Closure includes discharging the last expectations to the client, giving over project documentation to the business, ending provider contracts, discharging project assets and conveying project conclusion to all partners. The final step is to embrace a Post Implementation Review to recognize the level of project achievement and note any lessons learned for future activities.
Project managers can help their associations in enhancing how they execute extends in the best and effective way while decreasing dangers. I think it requires substantially more than simply perceiving priorities of an organisation.
Waterfall has been a methodology of project management for quite a long time. Waterfall is sequential and is utilized crosswise over numerous enterprises, most regularly in development of software. It involves static stages (necessities examination, plan and usage) that are executed in a particular request. Waterfall takes into consideration expanded control all through each stage yet can be exceedingly unbendable if an undertaking’s extension changes after it is as of now under way. Agile adopts a fundamentally unique strategy to extend administration. It was at first produced for projects that require critical adaptability and speed. For this, the agile is broken up into short delivery cycles. I think the Agile might be most appropriate for projects requiring less control and constant communications inside group settings. Agile is profoundly interactive, considering quick alterations all through a project as a methodology of project management. It is regularly utilized as a part of software development since it makes it less demanding to recognize issues rapidly and to make adjustments right on time in the improvement procedure, as opposed to waiting until the point that testing is finished.
I think the procedure required to evaluate, archive and select the correct project administration system for each task is point by point, tedious and complex at first, however justified, despite all the trouble at last.
The evidence for this learning outcome comes from the fact that in my company, I was involved in a project development life cycle and is well aware about the methodology that can help the organization reach its goals.
Throughout 12 weeks of learning about project management methodologies, I have understood the fundamental knowledge of project management and other critical aspects. The need for a project manager to be better and accurate in every field have been mentioned. The role of a project manager has been assessed in the portfolios and their roles have been evaluated accordingly. In the mentioned consolidated portfolio, the different methodologies have been discussed and the reason why they are employed to tackle the impact of stakeholders has been evaluated.
Binder, J. (2016). Global project management: communication, collaboration and management across borders. Routledge.
JOSEPH. PHILLIPS, P. M. P., CBAP, I., & PMP, C. (2018). PMP PROJECT MANAGEMENT PROFESSIONAL STUDY GUIDE. McGraw-Hill Education.
Kerzner, H. (2018). Project management best practices: Achieving global excellence. John Wiley & Sons.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Leach, L. P. (2014). Critical chain project management. Artech House.
Mir, F. A., & Pinnington, A. H. (2014). Exploring the value of project management: linking project management performance and project success. International journal of project management, 32(2), 202-217.
Fleming, Q. W., & Koppelman, J. M. (2016, December). Earned value project management. Project Management Institute.
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