This website uses cookies to ensure you have the best experience. Learn more

Project Management Essay

1107 words - 5 pages

Project management is vital for business success
January 2013

Business colleagues shaking handsIn today’s challenging economic environment, senior management needs to understand the fundamental supportive and strategic role that project management plays in business.

If companies are to pursue their plans for stability and growth they need to cease seeing project management as a functional activity and place it at the core of their business processes. At the same time, project managers and planners share the responsibility to engage better on a business basis with senior executives.

Download the full white paper

We must disabuse ourselves of the notion that project management is ...view middle of the document...

Boards can no longer afford to make assumptions about projects; they are operational realities and for businesses to run effectively, clearer insights are required. As the old maxim goes: if you fail to plan, you plan to fail.

In today’s climate, this an unacceptable level of business risk and can lead to money going down the drain. As Peter Jones of Canon Europe, points out: 'every business today has to keep costs under control, and everyone is under pressure to get their product to market more quickly and within budget. So careful resource management is critical to ensure there is no wastage of time or money.'

If business failure is linked to project management failure, there are many ways in which a business can understand what the reasons behind them are.

Here are the five top ways that good project management can help your business. For more information sign up to a FREE webinar.

Dealing with the unexpected - before it becomes a problem. Dealing with unexpected issues, delays and the implications of delay can have serious impact on a business. Unforeseen delay thanks to ineffective planning, scheduling or neglecting to test assumptions can damage customer relationships, create extra costs and interrupt key processes. This can create a knock-on effect; for example, failing to fulfil on a service level agreement or failing to deliver to a customer on time can have direct financial or legal implications. The ability to manage a project in a way which enables you to see and adapt around a potential delay can avoid these problems occurring in the first place.
Protecting the company. Managing operations via a solution which enables a full, complete and comprehensive capture of each step of a project or a delivery process, including exactly what happened when and by whom, provides protection by enabling later investigation and discovery and can even provide legal evidence about adherence to an SLA, a contracted commitment or even regulatory compliance.
Gaining management support. Buy-in or funding can delay the start of a project and also enable effective resolution when and if problems crop up during a project. Clear senior stakeholder communication is vital throughout, but in supporting projects the content of the reports must be at the appropriate high level.
Ensuring consistent and dependable delivery every time. Dependability is one of the most important factors in good client relationships and reputation, as well as business success. Achieving what you set...

Other Papers Like Project Management

Project Management Essay

1371 words - 6 pages [pic] Project management --- Assignment 1 Student name: Sichen Zhou Student ID: 13207637 Date: 04/09/2014 Table of contents 1. Importance of project management……………………………………………2 2. The roles of project management….......………………………………………2 3. Recommendations…………………….……………………………………….3 1. Understand PM’s role…………….……………………………………….4 2. Be objective about threats

Project Management Essay

651 words - 3 pages Leading Team- Part One Jacqueline Sala-Grajales Capella University 4090-Project Management 01/12/2012 Leading Team-Part One Yahoo was the search engine used to research the project management tools and skills associated with leading teams. The following are the five links that were explored and its contents. 1. Project Management Competence: Building key Skills for Leading a Team According to Davidson Frame (1999), “Successful

Project Management

645 words - 3 pages What are some of the principal reasons why Project management has become such a popular tool in recent years? Project Management has become a very essential and popular business tool in recent years. Every successful project must have a person in charge to keep the project organized. Project management includes areas in integration management, scope management, time management, cost management, quality management, human resource management

Project Management - 2510 words

2510 words - 11 pages Business Project Management MODULE 26340 Module Leader: Dr Ashish Dwivedi Submission date: Monday 02.02.09 Describe the main phases of the project lifecycle. Critically discuss where in this lifecycle failures may occur and explain how effective project management might reduce their likelihood. 1.0 Introduction Projects are being born all around us and can be found in every facet of life – they can range from say the relatively simple

Project Management - 969 words

969 words - 4 pages PC Training & BUSINESS CoLLEGE FACULTY OF MEDIA, INFORMATION & COMMUNICATION TECHNOLOGY DIPLOMA IN INFORMATION TECHNOLOGY [2 YEARS] IT PROJECT MANAGEMENT 600 1ST SEMESTER ASSIGNMENT Name & Surname: _________________________________ ICAS No: _________________ Qualification: ______________________ Semester: _____ Module Name: __________________________ Date Submitted: ___________ ASSESSMENT CRITERIA | MARK

Project Management - 969 words

969 words - 4 pages approach on the company’s next project. Your short presentation (written) should consider the following: 1.1 Explain what project management is, and why it is different to other forms of management. 1.2 Explain how project management can be applied to your company’s projects. 1.3 Point out the trend towards professional project management and your local project management society/ association who are supporting certification. 1.4 Outline

Project Management - 2407 words

2407 words - 10 pages + PROJECT MANAGEMENT Fundamentals + Definitions A project ?  Unique A start  An end  Deliverables  Resources  Environment + Let’s drill down… OPERATIONS PROJECT PROGRAM PORTFOLIO + Key parameters SCOPE + Recipe - Skilled individuals, with an approved & supported mission. - Usage of a structured & shared methods - Usage of iterative processes to deliver expected deliverables

Project Management - 3413 words

3413 words - 14 pages Examination Paper of Certified Project Management Professional IIBM Institute of Business Management Examination Paper MM.100 Certified Project Management Professional Guidelines for paper • • • • Total No. of Questions is 100. The minimum passing marks is 50%. Each Question carries 1 mark. Answer all the Questions. Multiple Choices: 1. A_______ is a temporary endeavor undertaken to create a unique product, service or

Project Management - 5064 words

5064 words - 21 pages Project Management-C101 Section A Part One: 1. C) Project 2. C) Lower cost of capital 3. D) Projects involve little uncertainty 4. C) Meeting communications goals 5. A) Proposal 6. A) Project Management 7. A) Strategic, tactical 8. B) Program 9. D) Technical skills 10. B) Process Part Two: Q1. Project management is a one-time carefully planned and organized effort to achieve a specific goal

Project Management - 697 words

697 words - 3 pages Project Management 1. Discuss the primary function of a project plan. According to the Project Management Book of Knowledge, the project plan is "...a formal, approved document used to guide both project execution and project control. The primary uses of the project plan are to document planning assumptions and decisions, facilitate communication among stakeholders, and document approved scope, cost, and schedule baselines. A

Project Management - 538 words

538 words - 3 pages gem Article Critique : Best Practices in Project Management Deborah A Midkiff Columbia Southern University Project managers are typically responsible for every detail of a project from beginning to end. They must oversee the from the beginning sale to the final installation to ensure all costs and delivery targets are realistic and met. The main point of the article by Joan Engebretson discussing

Related Essays

Project Management Essay 745 Words

745 words - 3 pages 1. Today there is renewed interest in field of project management. One of the biggest reasons for this is that technology is ever changing. Just when a company feels like they have caught up to the recent technology, it evolves and leaves them behind. Businesses are trying to keep ahead of the changing times and are having to think fast and adapt to the fast moving changes. These changes are bringing about a greater need for project management

Project Management Essay 1136 Words

1136 words - 5 pages  Project Management Paper MGT 437 November 3, 2014 Project Management Paper Introduction To realize what a project entails or how to manage a project an individual must first comprehend the entirety of its lifecycle. The following paper will discuss and define the contents that are involved in project management. In addition it will emphasize the importance of project management being utilized by the organization. I will

Project Management Essay 1235 Words

1235 words - 5 pages Project Management Domenick Poncin MGT/437 April 20, 2015 Jenny Kirgis Abstract Projects and their life cycle are used across all types of businesses across the world. Projects are used to solve problems ranging from large to small. All projects demand resources, time, staffing and budget to complete. The stages of a project include, but are not limited to, conception, planning, launch, control, and closure to ensure a

Project Management Essay 580 Words

580 words - 3 pages elaboration refers to a project management technique within which the project set up is regularly changed, elaborated and improved as newer info becomes offered. Progressive Elaboration unendingly details a thought and specific info and a lot of correct estimates become offered because the project progresses, manufacturing a lot of correct and complete plans that result from the sequential iterations of the design method. Progressive elaboration