Project Management for Business

(Project management for business)

Contents

Introduction:        1

Task 1        1

Describe the background and principles of project management.        1

1.2 Appraise the viability of projects, developing success or failure criteria.        2

1.3 Explain the principles behind project management system and procedures.        3

1.4 Explain the key elements in involved in terminating projects and conducting post project appraisal.        4

Task 2        5

2.1 Identify the most appropriate organizational structure, roles and responsibilities of participants within a project.        5

2.2 Control and co-ordinate a project.        6

2.3 Assess project leadership requirements and qualities.        7

2.4 Plan and specify human resources and requirements for a project.        7

Task 3        8

3.1 Prepare project plan and establish the project organization.        8

3.2 Apply project scheduling, estimating and cost control techniques.        9

3.3 Analyze the methods used to measure project performance.        9

3.4 Explain project change control procedures, evaluate the completed project.        10

Conclusion:        10

References:        11

Introduction:

Project management is the process or application of techniques knowledge and skill to achieve a project goal more efficiently and effectively. A project is usually a unique venture that has both the beginning and the end, conducted by people of the organization to meet and fulfill the established goals considering the cost of the project, quality of the project and schedule of the project, (Buchanan & Boddy, 1992)

The project management process generally can be divided into five different groups. They are in the following. Initiating, monitoring, executing closing and planning. A project is generally unique. That means a project is not generally a routine activity.  Metro Cammell is an England Company that produced railway carriages and wagons. It also produced railways for United Kingdom and for many more countries. The maximum railway works of London Underground in the mid 20th century was made by the company. Again in 1980s companies and organizations wants help from their owner and clients about their project rather to seek help from the suppliers. And at the last stage of 1980s and in 1990s the key word in discipline was Competencies.

Task 1

Describe the background and principles of project management.

1950s is considered the beginning of the project management. In this period CPM that stands for The Critical Path Method, AAC that stands for American Association of Cost Engineers, and PERT that stands for The Program Evaluation Review Techniques was established. 1960’s, then the 1970’s were the years when the organization focus on project control from the time span of the project and its reduction.

Principles of project management:

Some principles of project management is discussed bellow,

Commitment principle:

The first principle is commitment principle. The commitment principle make the organization sure that there must be a fair mutual commitment between sponsor and the project management team should be established if the organization want to see the success of the project.

The success principle:

The second principle is the success principle that makes sure that before the starting of the project it need to confirm the success of the project.

The tetrad-off principle:

This principle combined the success and commitment principle. In this principle, it is important to attain the project quality that is decided and, time of the project and estimated cost.

The strategy principle:

This principle tells about planning and implementation of those planning. It also tells about some sequential activities that are needed to start the project.

The control principle:

The Control Principle controls the management side of the project. Thus it ensures project commitment. To ensure this commitment this principle attracts policies and procedures.

The single point responsibility principle:

This principle told that every person of the project needs to be in the charge of the project. This individual person will be the point of contact between the team and sponsor.  

 The cultural environment principle:

The last principle is the cultural environment principle that tells that every project needs to provide a supportive culture. Because, if the project provide supportive culture environment.   It will be easy to attain the success of the project.

In the new project of Metro Cammell these principle must be taken under consideration before taking any final decision. (Artto and Wikström)

1.2 Appraise the viability of projects, developing success or failure criteria.

There are many things that can affect project viability. In the following these are described,

• Cost Overruns
• Time Overruns
• Changes to specifications and scope
• Quality problems
• Change in the business environment
• Cost
• Time
• Manpower
• Quality

Project Success or Failure Criteria of Metro Cammell:

It means the project has met its objectives, met its cost schedule and technique performance. Key performance indicator is a method to measure the dependency of the project.

 The Success criteria of Metro Cammell are described below.

• Is the Metro Cammell is successful in all of its construction? Answer will be most of the time because through its construction it achieves reputation. But it fails some of its project in terms of cost and budget and schedule.
• It has many successful projects like “Blue Pullmen”. As those projects work well for many of years. Again some projects fail to run. (Brown)

1.3 Explain the principles behind project management system and procedures.

The main aim of project management system is to ensure the project objectives and cost and maintain schedule. There are several principles that can ensure all this if they are considered before the project planning. These principles are described below.