Managing Project: Characteristics, Stages, and Team Impact

Managing project
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Table of Contents
TASK 1............................................................................................................................................3
TASK 2............................................................................................................................................6
REFERENCES..............................................................................................................................12
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TASK 1
1. Key characteristic of project
A project consists of certain tasks and activities that are complete to attain specified goals
and objectives.
It is found that there are certain characteristics of project. This vary on basis of nature and
type of project. The main feature of project is it is having a specified start and end time. Besides
that, there is also a particular budget allocated to project. In addition, nature of project varies
from one another. Alongside, each project is having specific objectives, cost and time. Thus, it
needs to be completed in that. Along with that, each project is having a specific methodology
through which it is completed. It is done in a systematic way (Bass and Haxby, 2019) .
1b. Why project fail and run over budget
A project may fail due to high or low budget. So, for that there are many reasons for it.
First is that high use of resources in it that results in rise in cost of it. Another is ineffective
allocation and planning of resources due to which budget exceeds. However, another reason for
failure is risk may not be managed and handled in proper way. Due to that, it may require more
budget in it. One more reason is that ineffective controlling and monitoring of project manager in
project. This can also result in fail or run of budget within project.
Stages in project management
In every project there are several stages which is followed in it. These stages are same
and is defined as below
Initiation- It is first stage in which project is started and then goals are identified. This enable in
making things easy to get it done in
Planning- this is most crucial stage in which PID is developed. Here, project scope, constraints,
limitations, etc. are defined in it (Biesenthal, and et.al., 2018).
Execution- In this stage project is executed. The manager assigns roles to team member and also
resources to them.
Monitoring – Here, project monitoring is done to ensure that project is going in right direction.
So, its progress is maintained and ensured.
Closure – In this last stage, project is closed after all tasks are completed.
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Impact of good and bad team in manging project
A good project team plays important role in project. they support each other and
communication between them is effective. Also, they easily manage risk as they are experienced
enough.
Whereas bad team do not work in effective way. There is improper communication within them
and it directly impact on project tasks.
Key areas in project management and importance of 2 areas
There are several areas in PM which are as follows
Project integration
Project time
Project cost
Project HR
Project risk
Project communication
Project scope
Project schedule
Project Scope Management involves activity of getting information to start the projects along
with element of product development that is responsibility to meet stakeholders requirements.
The wok is needed to be accomplish in real time along with having specific features with
function (Bueno,. and Gallego, 2017).
Project Schedule Management is level of listing activities deliveries and milestone. The
schedule is analysis of start and finish date and resources assigned to each activity.
Attribute of project manager and 2 characteristics
In every project, manager plays vital role in its completion. There are certain attributes
that is required in PM to run and complete project. This enable in managing of project in
effective way. So, 2 characteristics are defined as
PM must have effective communication skills both oral and verbal so that he can interact with
team members and stakeholders in effective way. This enable in identifying their needs and
completing project in deadline.
PM should have leadership skills as well so that he can lead a team and complete project. Also,
he should possess leadership styles and traits so that it can be applied in handling of project.
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