International Project Management Strategies

This assignment delves into the complexities of managing projects on an international scale. It focuses on establishing efficient cost and budget tracking methods, utilizing the PRINCE2 methodology for optimal project management, and implementing effective reporting structures to ensure clear communication with stakeholders like the executive committee, finance committee, and board development committees. The assignment emphasizes the importance of weekly project meetings and collaborative efforts between key personnel such as finance managers, HR managers, operational executives, and application programming managers.

Running head: INTERNATIONAL PROJECT MANAGEMENT
International Project Management
Name of the student:
Name of the university:

1INTERNATIONAL PROJECT MANAGEMENT
Table of Contents
1. Background scenario...................................................................................................................2
1.1 project monitoring and controlling approaches of kate.........................................................2
1.2 the information set those kate should provide to their stakeholders......................................3
1.3 the assuring criteria of project progress.................................................................................4
2. Scope of the task..........................................................................................................................4
references.........................................................................................................................................6

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1. Background scenario
This report depicts the importance of developing leadership criteria in the business
organizations to increase the production and marketing efficiency of the organization. It will help
the organizations to gain competitive advantages and structure revenue model as well. It will
help the Chief Executive Officer (CEO) to identify the project based issues whether regarding
cost and managerial baseline etc (Martinelli and Milosevic 2016). If the project plan is not
finalized according to the requirement of the consumers and project goal then, the company will
face major issues. Different approaches of project planning, initiation and tracking are there
through which the issues associated to project management could be completely diminished.
Even, proper budget and resources are also needed to be developed to resolve the emerging risks.
Based on the project background and scenario, it is defined that the project manager and
all other associate stakeholders should take active part in the managerial decision making. If any
activity is failed to be executed then, the schedule tracking would become difficult from the
business perspectives (Kissi, Dainty and Tuuli 2013). The methodologies for tracking the cost
and schedule including the recommendations for project team reporting are elaborated in this
report. In addition to this, the recommendations for reporting to the CEO and board and the type
of data those might be presented for the execution of the report are also illustrated accordingly.
1.1 Project Monitoring and controlling approaches of Kate
The CEO and project manager of a business organization are responsible to track the
project progress and monitoring flow accurately. With the help of proper monitoring and control
approaches the lead of the organization would be able to ensure whether the project is moving on
a perfect track or not (Bergman et al. 2014). On the other hand, if proper project management

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components are not undertaken then, the company will fail to reach the preliminarily adopted
project goal. However, before starting the project monitoring phase, certain additional steps are
to be undertaken by the project manager and CEO named as Kate. On the other hand, the project
monitoring phase is again differentiated into two different phases such as project reviewing and
tracking project progress. In order to keep the project within estimated scope, time and budget
original plan or project baseline are needed to be considered by the project manager.
1.2 The information set those Kate should provide to their stakeholders
Based on the business background, Kate should share information to their project
stakeholders. It is necessary for the CEO to consider the information confidentiality. If proper
confidentiality is not kept the any of the stakeholder would be able to access data from the server
even without permission. On the other hand, proper communication approach should be
considered by the management team to share information to the project stakeholders. The CEO
must use open communication approach to communicate to their stakeholder. If open
communication is used by the management authority then, the CEO will be able to get to know
about the thought of other project stakeholders. The most important thing that must be shared to
the project stakeholders is the project goal. Secondly, the project budget, which has been
estimated by Kate, must be shared to the project stakeholder to inform them that within this
estimated they have to complete the project successfully. Lastly, the project manager must share
the time within which the project expected to be completed. If proper time, cost and goal are not
shared to the project team members and stakeholders then the project will fail to meet the
requirement. Project understanding and influence are the major components those must be
considered accordingly.

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1.3 The assuring criteria of project progress
In order to assure the criteria of the project progress the steps those the CEO of the
company must ensure include the following:
 Any project could reach the preliminarily determined success factors accurately if
all the stakeholders associated to the project perform professionally (Verzuh
2015). It means that, proper tools are to be collected and applied to measure the
performance of the stakeholder.
 On the other hand, the performance of the project management team must be
considered accordingly (Schwalbe 2015).
 Performance criteria should set in such a way so that the business would be able
to serve proper project need in terms of delivery and productivity as well.
 The project performance allows effective and efficient activities as well including
productivity, innovation, quality of the working life and quality of the working
etc.
2. Scope of the task
2.1 In order to track the cost and budget of the project, the most suitable project tracking
methodology that is to be used is recommended as prince 2 tool. With the help of this particular
tool the business case could drive towards success with reduced cost and standard benefit
(Kerzner 2013). The other methodologies are also beneficial but due to the business values and
benefits of prince2 methodology, like: standardization, development of mature methodology,
development of accurate road map, reduced cost and products based planning approaches the
project developer must use Prince2 methodology for project budget and time monitoring.

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2.2 In the reporting period, all data and information are presented considering just the
actual hours those have been used or dollars spent for the reporting period (Leach 2014). Based
on the risks and issues associated to the project, the project manager and team should adopt the
recommended structure.
2.3 The project meeting must be arranged on weekly basis between the project manager
and the project team members (Bergman et al. 2014). The finance manager, project manager, HR
manager, operational executive and the application programming manager should attend the
project meeting.
These people are nominated for attending the meeting because, they plays the most
responsible roles in the business organizations.
2.4 Three different standing committees such as executive committee, finance committee
and board development committees are those should be used by the project manager and project
team members for choosing and structuring the reporting format.

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References
Bergman, S.M., Small, E.E., Bergman, J.Z. and Bowling, J.J., 2014. Leadership emergence and
group development: A longitudinal examination of project teams. Journal of Organizational
Psychology, 14(1), p.111.
Conforto, E.C., Salum, F., Amaral, D.C., da Silva, S.L. and de Almeida, L.F.M., 2014. Can agile
project management be adopted by industries other than software development?. Project
Management Journal, 45(3), pp.21-34.
Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Kissi, J., Dainty, A. and Tuuli, M., 2013. Examining the role of transformational leadership of
portfolio managers in project performance. International Journal of project management, 31(4),
pp.485-497.
Leach, L.P., 2014. Critical chain project management. Artech House.
Martinelli, R.J. and Milosevic, D.Z., 2016. Project management toolbox: tools and techniques for
the practicing project manager. John Wiley & Sons.
Schwalbe, K., 2015. Information technology project management. Cengage Learning.
Verzuh, E., 2015. The fast forward MBA in project management. John Wiley & Sons.