Explain Reasons Why Organisations Adopt Project Management Methodologies
Discuss About The Cost Overruns Failure In Project Management.
In this course, we have been provided with the concept and use of project management methodologies in different organizations, for managing their projects. Success of the project is mainly associated with contribution of the project head and the project manager. The success of any project mainly depends on the approach that is undertaken by the organization in managing any projects. A project management life cycle includes phases such as project initiation, project planning, project execution, monitoring and the closure. Dividing the entire project in these phases enables better management of each phase resulting in successful completion of the project (Kerzner & Kerzner, 2017). It is the responsibility of the project manager to properly govern the different phases of the project that will ensure its successful completion. The week 1 learning has provided me with knowledge about the need of identifying the constraint of the project. There are certain negative factors associated with the execution of the project. Proper identification of the negative aspects of the project that include time constraint, cost constraint schedule issues are needed in order to eliminate or reduce the chances of project failure. The use of certain project management tools such as Gantt charts, checklist, risk registers helps in proper identification of the issues associated with the project.
Throughout the learning of these 12 weeks, we have gained substantial knowledge about the different project management processes that helps in completion of a project. The choice of the project management methodology is therefore a crucial decision for any project. This course has helped me in understanding the reasons why different organization adopts project management methodologies. Project management methodologies are generally adopted by a number of organizations as it helps in easier management of the different projects undertaken by the organization. In this course we have learnt about the PMP code of ethics that is needed for enhancing the professional development while working in a project as a manager (Marcelino-Sádaba et al., 2014). This unit provided with the knowledge about the best practices that the enterprises should adopt in order to successfully execute a project. In this context, the impact of the project management methodologies upon the stakeholders is analyzed as well. The stakeholders are an important part of any project or an organization as they are responsible in successful execution of a project (Beringer, Jonas & Kock, 2013). There are certain elements of project management methodology that might meet the needs of an organization. This consolidated portfolio has been prepared in order to justify the learning outcomes that have been gained while attending this course. The following paragraphs provide and detailed analysis of the learning outcomes of this unit.
Critically Analyse the Impact of Project Management Methodologies Upon Stakeholders
Summary
It was quite interesting to learn about the different project management methodologies and the use of these project management methodologies in the organization. Different organization adopts the project management methodologies in order to enhance the process by which a project is implemented in the organization. The use of project management methodologies helps in successful execution and there are a number of benefits of making use of project management methodologies in an organization (Caniëls & Bakens, 2012). The use of project management methodologies in an organization helps in defining the roles of the human resources in the project. The use of project management methodologies helps the clarifying the needs of the project so that the project is delivered within the scheduled time. Therefore it can be said that the project management methodologies help in identifying the different constraints of the project. The proper and effective implementation of the project management methodology helps in analyzing the different issues associated with the project. This is one significant reason that different organizations make use of project management methodologies in successful execution of a project.
In this unit we have learnt about the different critical success factors that are associated with the project. Proper project monitoring and project governance helps in successful implementation of a project as the projects constraints can be easily identified with the successful project implementation. In this unit, I have understood that the process of project management is mainly associated with the effective management of the project and therefore, different organizations make use of the project management methodologies in successful execution of the project (Devi & Reddy, 2012). However, the organization needs to have a proper idea about the different tools and techniques of proper management in order to ensure that the project is implemented without any issues or constraints. The different project management tools include scheduling tool such as Gantt Chart, Risk register for risk management and so on. These project management tolls helps an organization in efficient management of the business processes associated with the organization. However, it is the duty of the project manager to ensure that the project is implemented in a planned approach and there are no issues associated with the implementation of the project following the approach. Therefore, the use of different project management methodologies is integral for any organization.
Evidence
This unit has provided with detailed knowledge of the project management methodologies that an organization implements for successful completion of the project. The learning about the different project management methodologies is reflected in the portfolios of week 1, 2, and 4. Previously I have worked in a project that made use of project management methodology in successful completion of the project. The use of project management methodology helps an organization in successful completion of the project.
Summary
Stakeholders are an important part if any organization or a project. This is because the stakeholders are responsible for setting the goal of the project. Stake holders are important as the success of the project largely depends on the stakeholders. It is therefore essential to keep the project stakeholders engaged with the project. The implementation success of the project can be achieved only if the stakeholders of the project are properly managed. Stakeholders include senior management of the organization or the people who are providing resources for the project. The stakeholders of the project are important as they are putting their money on the project. The stakeholders of the project are largely affected by the results of the project since their resources are associated with the project (Doloi, 2012). The stakeholders are often critical about the project success and therefore it is essential to keep the stakeholders of a project managed. Active involvement of the stakeholders in a project might result in the successful execution of the project. The active involvement of the stakeholders is critical in defining, designing and producing the deliverables of the project.
The stakeholders, who are often the customers of the project will expect their work to be completed in a scheduled time. The choice of project management methodologies ensure that the project is implemented in a scheduled time. Therefore, it can be said that the choice of project management methodology has a huge impact on the success of a project (Dybå, Dingsøyr & Moe, 2014). Furthermore, the engagement of the stakeholders with a project is quite essential as it builds support and enthusiasm in the work processes of the project. The choice of the project management methodology ensures that the project is governed and regularly tracked so that there are no chances of project failure. This unit has helped in gaining a detailed understanding of the impact of a chosen project management methodology on the stakeholders involved with the project. Stakeholder management is an important part of the project as it helps in setting up a realistic project goal. This is mainly because the stakeholders of a project are responsible for determining the project goal.
Evidence
In this unit, I have gained a substantial knowledge about the stakeholders of the project which is reflected in the portfolio of week 2. While working on a project, I have understood the importance of project stakeholders and their contribution in ensuring the success of the project. The need of keeping the stakeholders managed throughout the implementation phase of the project is vital as the stakeholders are providing the resources for successful project execution. The knowledge about the stakeholders that I have gained in this unit is reflected in the portfolio of week 7 as well. The choice of project management methodology has a huge impact on the stakeholders of the project as the project stakeholders provide the necessary resources needed for successful project execution.
Summary
There are certain elements of the project management methodology that an organization need in order to successfully execute the project. The choice of the project management methodology is integral for success of a project as it will ensure that the project will be successfully executed. There are different elements of project management methodology that an organization needs, which include, proper planning of the project deliverables, Identification of the scope of the project, proper evaluation of the time and schedule that the project will need to be delivered along with the associated project constraints. The constraints of the project include the cost constraint, schedule issue, resource constraint and risks associated with the project (Fleming & Koppelman, 2016). These elements of project management methodology help an organization in understanding the goals of the project. The importance of the project management methodologies and the different elements of the project management methodology are significant for an organization as the main purpose of an organization is to ensure that the project is implemented according to the goals of the project (Heagney, 2016).
Project scheduling is an important tool or element of project management that is essential for successful execution and completion of the project. This is one of the major elements of project management methodology that an organization needs in order to successfully execute a project. Apart from project scheduling, proper resource allocation is an important element of project management methodology. The stakeholders of the project are an important part of a project (Kerzner, 2017). The stakeholders of the project are essential as they are responsible for allocating the resources of the project. The resource allocation is an essential part of the project as the success of the project largely depends on correct allocation of the resources of the project.
Evidence
The knowledge about the different elements of the project management methodologies is reflected in the portfolio of week 9 and week 10. Previously while working in a project, I have gained a knowledge about the major elements of a project management methodologies mainly the need of project scheduling and the resource allocation in successful project execution.
Conclusion
Throughout 12 weeks of learning about project management methodologies, I have understood the fundamental knowledge about the need of different project management methodologies in successful execution of a project. The choice of the project management methodology plays a significant role in determining the success of a project. The need of project management methodology is integral in an organization or a project as the choice of the project management methodology helps in successful execution of the project. In this consolidated portfolio the learning outcomes that is realized while attending this unit is drafted. The 12 weeks’ learning has provided with a knowledge of project management methodology, the role of project stakeholders in a project and the elements of the different project methodologies. One of the important elements of project management methodology is project planning as it helps in aligning the project objectives with the identified goals of the project. The requirements of the project are needed to be identified so that the proper project management methodology can be chosen. The choice of the project management methodology is integral for a project as it makes the process of project execution simple and effective.
References
Beringer, C., Jonas, D., & Kock, A. (2013). Behavior of internal stakeholders in project portfolio management and its impact on success. International Journal of Project Management, 31(6), 830-846.
Caniëls, M. C., & Bakens, R. J. (2012). The effects of Project Management Information Systems on decision making in a multi project environment. International Journal of Project Management, 30(2), 162-175.
Devi, T. R., & Reddy, V. S. (2012). Work breakdown structure of the project. Int J Eng Res Appl, 2(2), 683-686.
Doloi, H. (2012). Cost overruns and failure in project management: Understanding the roles of key stakeholders in construction projects. Journal of construction engineering and management, 139(3), 267-279.
Dybå, T., Dingsøyr, T., & Moe, N. B. (2014). Agile project management. In Software project management in a changing world (pp. 277-300). Springer, Berlin, Heidelberg.
Fleming, Q. W., & Koppelman, J. M. (2016, December). Earned value project management. Project Management Institute.
Heagney, J. (2016). Fundamentals of project management. AMACOM Div American Mgmt Assn.
Kerzner, H. (2017). Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. John Wiley & Sons.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Marcelino-Sádaba, S., Pérez-Ezcurdia, A., Lazcano, A.M.E. and Villanueva, P., (2014). Project risk management methodology for small firms. International journal of project management, 32(2), pp.327-340
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