Managing Projects

Managing Projects

Table of Contents
INTRODUCTION (125)..................................................................................................................1
TASK 1............................................................................................................................................1
Characteristic of project.........................................................................................................1
Purpose and importance of stakeholder analysis....................................................................1
Purpose of project initiation document...................................................................................1
Purpose of feasibility and importance in management decision making...............................2
9 knowledge areas in project management along with importance of any 2..........................2
Characteristics of project manager along with importance to close projects properly...........2
Benefits of network diagram..................................................................................................3
TASK 2............................................................................................................................................3
Activities or project life cycle stages required for successful project management (1000)...3
Controlling and other problems associated with managing life cycle of project (360)..........6
Professional actions taken by Project Manager......................................................................7
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Project management can be defined as application of procedure, skills and experience which can
help project manager in meeting their pre determined goals (Radujković and Sjekavica, 2017).
This present report will discuss effectiveness and reasons of managing projects in a timely and
effective manner and how stakeholders play a vital role in managing project like marketing
research. It will also show some important life stages of project management which needs to be
followed by project manager like planning, execution and others. It will also discuss
characteristics of marketing manager benefit of network diagram and effectiveness of project
initiation document. Lastly, it will discuss some problems associated with managing life cycle of
project along with ways of solving them.
TASK 1
1. Key characteristic of any project
A project is a collection of some tasks which needs to be followed in a systematic manner for
accomplishing main project goals. There are different types of project having different nature
and goals. So, it can be said that in other terms that it includes some set of inputs which allow
project manager in accomplishing their goals if they are being followed in an effective and
systematic manner (Petrescu and et.al., 2017). In the context of features it can be said that every
projects have defined starting and end time and they are unique in nature. It helps project
manager in completing projects in given deadline. Every type of project have established
objectives , specific cost as well as performance requirements. All projects are temporary in the
nature, they create unique deliverables and developed by progressive elaboration. Stakeholder
suggest ways of reducing negative effects on project, stakeholder analysis allow project manager
in making changes in project by knowing their needs and interest.
1 B.Purpose and effectiveness of stakeholder analysis
Stakeholders in project management plays an important role as their satisfaction level defines
success of project. In stakeholder analysis project manager evaluate anf identify needs of each
stakeholder, their interest in making project successful. With this analysis, project manager can
seek help for stakeholders as per their interest which can allow them in making project
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successful. Interested stakeholders provide effective solutions and suggestions to project
manager by which project can be made more effective and it all can be done by stakeholder
analysis.
2. Purpose of project initiation document along with 3 items included in it
Project initiation document plays an important role as it defines scope of project as well as
success criteria. On the basis of document project manager can go back and can make changes in
some informations and other aspects if required. It contains all basic information’s which are
required in completion of project in an effective manner such as scope, team members,
resources, allocation criteria and others (Elias, 2016). Overall it can be said that it performs as a
guide and allow stakeholders in performing all functions. There are several items required in this
document but main important aspects are: business case, quality as well as progress. One of the
main requirements of using this document is it allows project manager in taking better decision
and making commitments. It works as a guide for external stakeholders which can eliminate
errors.
3. Purpose of feasibility and importance of it in management decision making
Project feasibility refers an analysis in which project manager takes all important factors into
consideration such as: legal, technological and others. It leads to business development. With the
help of project feasibility and taking all factors into considerations, staff members can perform
their functions with concentration without committing many mistakes (Mukherjee and Roy,
2017). An accurate and feasibility study help project managers in looking at bigger picture first
and working on it. It overall helps them in taking proper decision and making projects
successful.
4. 9 knowledge key areas in project management with importance of any 2
There are several main areas of project management such as:
Time management: It consists of all those procedures which required in management of time.
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