A Guide to the Project Management Body of Knowledge - Book Report/Review Example

? A Guide to the Project management Body of Knowledge: (PMBOK Guide) 4th edition An Introduction to Project Management A project is a specific assignment that needs to be completed with a fixed amount of time and resources and has a specific end result (Heemst). Project management is the use of skills, expertise, tools and technologies to carry out project activities that will help in fulfilling or exceeding the stakeholder’s requirements” (Duncan). Operations having specific characteristics performed on a temporary basis are called projects. Therefore, projects have a specific time limit. The project schedule in broken down into different steps for execution. The entire project is divided into a number of stages, each of which has specific deliverables that contribute to the completion of the project. Careful planning and management is essential for the effective execution of each of the phases. This ensures that project deadlines are met and the end result is a success. Project management is a critical function of strategic business management. A number of theories and models on project management have been developed recently. In the past few years, the area of project management has become specialized and an increasing number of businesses are providing this service. There are a number of factors that influence the outcome of a project, such as time, budget and value addition. Inadequate planning and organization skills can hamper the efficient execution of projects. This leads to delays in delivery and increase in costs. The PMBOK Guide, 4th edition reflects the accepted standards, policies and practices in the area of project management. The paper highlights the key aspects of project management and outlines the different phases of project conceptualization, initiation and execution as defined and explained in the PMBOK guide. Project management framework and processes The PMBOK guide provides a detailed framework on project execution and management practices that help the project manager in sequencing tasks and defining specific roles to the team members for effective outcomes. The key knowledge areas defined for smooth execution of project includes project integration management, scope, time, cost, quality, human resource, communications, risk and procurement management. Project Integration Management Project integration management consists of all the processes that coordinate the different components of the project (Duncan). Projects are generally temporary in nature and there is an element of uncertainty in the dynamic business conditions during the project timeline. For project management to be successful, the project needs to be broken down into different stages in order to ensure proper planning, control and management (Duncan). Project integration management has an important role to play in situations where the processes within the scope of the project need to be coordinated with the existing operations of the organization or when the deliverables from different stages of the project need to be brought together for the final result. Project integration management consists of the different aspects of plan development, plan execution and overall change control. The project plan development phase brings together the various project planning processes to create a complete document that can be used as a guide throughout the project. It elaborates on the execution of the project at each stage, the deliverables at each stage, the constraints of the projects and back up plans for the project. In the project plan execution stage, the project manager and his team members work together on different elements of the project, including technical specifications and existing processes that could affect the project execution and outcome. The next stage is overall change control that takes into consideration any changes in the project management stages and deliverables. Project Scope management Project scope management mainly involves highlighting the scope and control of the project. It defines the work processes and resources that are needed to have a positive final outcome. This stage includes many steps, such as initiation of the project, scope planning, scope definition, scope verification and scope change control. Initiation refers to the process when a new project is conceptualized or when an existing project moves to the next phase of execution. The initiation arises from market demand, expansion opportunities and technological upgradation for introducing new products and improving operational efficiency. There are various steps involved in the scope management, which is planning of the various scopes which narrates the opportunity of the project. In the sphere of the identification of any project, first the end product or the need of the client is catered to, what are the steps and the results and the particular end result which the client or the customer is looking forward to. This requires a thorough analysis of the module, the customer is looking forward to and the various ways through it can be achieved. For all these the clients needs are first translated into objects or the milestone, the project would be intended at; this becomes the benchmark of the whole project. The other milestones are thus derived on the basis of all of these. For the successful completion of any project, there should be a mutual agreement or understanding between the client and the team or group of people, who are into this. The agreement could be in term of the methods and techniques used, the structural framework, the basic algorithm used and the testing method and the feedback method. For boosting the morals of the employees, time and again the incentives patterns and the appreciation techniques have to be used. So the deal regarding the extra payment or the payment is agreed upon, so that the performance and the quality of the project can be enhanced to a better quality and the efficiency on the part of the employees is maintained. The scope of the work or the desired outcome and the result can be chalked out at the beginning of the work, makes a self goal for every employee, as they can accommodate their time and also the nature of the work and the course of action is also chalked out in the beginning, so that the various projects can be talked about nicely. A common reason for the failure of any project is because of the poor planning and the resources are utilized properly. Apart from the leverage given to the employees, it is imperative that the constant monitoring, guidance and control is also exercised for the smooth functioning, and any corrections which are needed to be done can be also done. It is ensured that the project structural framework and the milestones are met properly. There is a service level agreement, which are signed and then the dealing is done to meet the project guidelines and the step by step meeting are also done and constructive feedback is also given. Project Human Resource Management In the project, of human resource management, the managers are focused on the efficient use and the utilization of the human resources or the people are done. The basic aim of the people working is required for the planning and the inception of the project, to ensure that the basic model of the project t is made nicely, efficiently and the different stages structured likewise. The manager who is entitled for the execution of the entire project understands the importance of the skilled and trained employees in the team, as this improves the productivity and the flow of the steps are taken and abided by nicely and smoothly. In the algorithm, which is used by the managers it is made sure that the various level of employees with their effective potentials and the different level of the skill sets, can be used for an impressive project meet. The managerial experience and the new inventions are also ventured through for the achievement of the same. For the managers and the management, it is a challenge to be able to meet all the milestones by deploying right person at the right time. The success of a project depends on many factors, first the morals or the energy level of all the employees involved in that project has to be high all the time, for that many incentives , appreciation and the guidance pertaining to any type of difficulties faces are to be taken care of. A constant motivation needs to be given, so that no person backs out while the execution, it cannot be accomplished alone. A manger apart from the basic work , which requires him/her to be able to solve the problems relating to that project, should be very flexible , open for discussions and should have dynamic qualities of a leader, so that the action plan , the different stages can be discussed and should be able to implement them nicely. All these help rise and improve performance. As in a project the leader should be the one stop solution for all the problems and should have the capacity to tackle the psychological challenges , which are constant inspiration, motivation, should make the team aware of the opportunities which would are there, for the ones who can deliver the best or according to the needs of the project. The lack of all these aforesaid qualities brings about the failure in the total plan. Project communication management Communication also plays an important role in the execution of the project. It can help to motivate the team members, lessens the conflicts and also impels the project objectives and goals. These are achieved in a coordinated way. According to Bill, the work of the project manger is not only to tell the result and the plan of the project to be followed, but it needs construction talking and communication between the two parties. The mangers and the team members should be able to coordinated the work and should be able to convey any problem if it is there , in order to get the solution as well give the solution. There should be regular meetings to understand the various challenges faced by the employees as well the team members to get the desired milestone. If the team members are completely left out and not encouraged to participate in the whole process of the execution of the plan, the project cannot be a success. The team members should also feel themselves valuable and important for an active participation in the work. This will also increase their support and bring more energy toward the solution of ay problem, if it comes. Project execution challenges in present times The PMBOK outlines five distinct project management processes that encompass the entire project management exercise. These processes are initiation, planning, executing, controlling and closing. The outcome of each process determines the input of the other and eventually the results depend on the project manager’s ability to integrate these processes towards pre-defined goals and objectives. In the recent years, the project mangers have understood and realized an increased level of problem and complexity which has arisen in the successful execution of the project. The management focuses more on the optimum utilization of the resources to meet the golf and aim. Owing to the changes brought about by the effect of globalization, the competition, increased level of dissatisfaction among the employees and the nature and the method of work is also changed because of the changing environment of the technology and the ever changing market needs and values. The global business was put back into back order and was influenced by the advances in technology and impacted the process of business and the way, how the business is done (Frame). Some of the changes are being brought about by the changes in the telecommunicating and the information technology sector. There is much liberalisation and the business is now more extended to all the geographical boundaries. The region or the distance or the area or any other country is no longer a constraint in the field of business or in the way of reaching the goal and aim. There are many projects where the teams are working in different areas, they are just connected through internet and phones and they are smoothly and efficiently perusing their work. The projects which are taken in this competitive world , is inspired by the need to have new methods of working and the practices and methods which are needed to induce an efficient and also global work culture and corporation among the employees . The work force who are working for any project or I any organization are diverse, so to being everyone to a common platform and to be able to drive all to work towards a common goal and objective is a big ask and work . The new technology, inventions and the discoveries are driven by the impotence and the need to reduce cost pertaining to production, improve product development and meet the customer satisfaction and expectations (Frame). The success of a project depends much to an extent on the project managers, as with their constant motivation and encouragement, guide and support, the project can flourish. This has actually a lot of pressure and responsibility on a project manger. The changing technology and the global economy have actually pushed it forward. The multinational projects have actually resulted in inviting much more challenges as it restricts the use of the traditional project management techniques and ways. The advantage lies on those projects or goes to those who can actually bring about changes within their dispersed labor and support corporation among their employees, even they are diverse in nature and in geographical location (Hansen & Nohria).Bringing about new and advanced discoveries and enhancing cooperation are vital for a success in any project. Project teams are working in different geographical and with much differences in culture. Global management projects are thus very fragile in nature, as one difference in thoughts or there are many factors which are taken into consideration. These types of projects are exposed to various challenges and thus are subjected to many failures and challenges. So the role of the project manger is vital in this area. Here we will analyze the factors and the challenges faced by the project mangers in the way of accomplishing the work. The effectiveness of project or the right implementation is derived only when the goal, the objectives and the action plan and the execution of the plan and eradication of the challenges is taken care of. To get all of above said parameters, the optimum utilization of resources is very important as it sets the quality of the project and drives the timely completion of the project. A good method in a project aids in the enhancement of the changing of the odds to positive result and thus gives values to the company, thus incorporating value to the organization, the whole project and the project manger (Mullen). Evolving roles of project managers The problems pertaining to the project management are communication, effective leadership and the management or thru practices adopted by the managers. The geographical area and the various teams working from different locations are contributing to the problem. The advancement in technology and the adoption of new practices have created more problems to the project managers to work on team performance and understanding. With the right permutation and combination of the stack, using and adopting new technologies, transferring knowledge, positive outlook, dedication and commitment and problem solving techniques (Andriopoulos & Dawson). The project teams flourish and make advances are most effective when the aims or the goals, responsibility and the roles of the employees are clearly laid down, and the responsibilities are in tandem to each other and the commitment is met, more importantly all these are fully understood. Project managers implement many strategies, ways to see that the coordination among the employees are improved, and good and effective working environment for successful completion of the project. There are some meetings which are organized where the team members share ideas, solutions in order to achieve the desired goals and objective. This practice is also known as brainstorming session where the team members meet to discuss and analyze the outcomes and the desired goal and objective. Project Management Institute – its role and function The Project Management Institute or PMI is “the world’s leading non-for-profit membership association for the project management profession” (PMI website). The association focuses on improving project management skills and competencies for effective outcomes and promote best practices in the area of project management. The association provides globally accepted project management practices and standards helping organizations in achieving excellence through their research programs and credentials. The key focus is hence on leveraging project management skills and expertise through globally accepted standards and practices that influence project outcomes and organizational efficiency. Conclusion The global operations of organizations today are much impacted by rapid advances in information and communication technologies that have opened new vistas of collaboration and connectivity among individuals. Team work and project execution today is to a large extent defined by the connectivity tools and approaches undertaken by organizations today. A project management idea puts forward the completion of the task and the work, in a much planned and organized way and approach. This includes the performance, structuring the framework and working for the desired result. The vital and the most important role played is by the project manger , who not only acts or works as the leader of the project, mentor and guide but also is a source of inspiration, motivation and encouragement. When any project is set for the execution, there are certain problems which are natural to creep in, but with the planned approach by the mangers and the continuous effort of the same, the problems can be rectified and corrected. Teamwork and the cooperative approach by the members also play a role in the successful endeavor of the same. The importance of communication and cooperation has undergone substantial change with most organizations shifting from the traditional approach that laid much importance to organizational pattern and rigid work processes. The role of project managers have thus gained increased significance since the onus of getting the job done in the right manner and streamlining resources towards the defined goals lies on the project managers’ instincts and abilities. References 1. Andriopoulous, C. & Dawson, P. Managing change, creativity & innovation. Sage publications. 2009. 2. Duncan, William R. A guide to the project management body of knowledge. USA. PMI Standards Committee. 1996. 3. Frame, D.J. The new project management – tools for an age of rapid change, complexity and other business realities. Jossey Bass Publications. 2002. 4. Hansen, M.T. & Nohria, N. How to build collaborative advantage. MIT Management SLOAN Review. 2004. 5. Heemst, Gabor Vis van., Fredriksz, Hans., Jan von Bon., Pieper, M. Project management based on PRINCE2. Van Haren Publishing. 2006. 6. Mullen, Dr T. Programme and Project Management. PMI. 2006. 7. PMI website. 2011. Project Management Institute – About Us. 20 Nov 2011 Read More