Managing Projects: Characteristics, Reasons for Failure, Teamwork, Knowledge Areas, Project Manager Attributes, Benefits of Network Diagram

MANAGING PROJECTS

TABLE OF CONTENTS
TASK 1............................................................................................................................................3
TASK 2............................................................................................................................................6
Project Initiation Document.............................................................................................................6
Planning.........................................................................................................................................10
Execution.......................................................................................................................................15
Monitoring.....................................................................................................................................16
Closure...........................................................................................................................................17
REFERENCES..............................................................................................................................18

TASK 1
1. Characteristics of project
A project is a progressive, unique yet temporary attempt to produce any type of
tangible or intangible result such as a service, competitive advantage, benefit etc. Project
includes interrelated tasks planned for execution over a fixed period of time. The key
characteristics are: Temporary as the project has a finite end; unique, as it aims at
producing deliverables; progressive as it needs continuous improvement and
comprehensive plans.
1b. Reasons why projects fail and run over budget
Major causes of projects getting late, failed or over budget are inexperience of the
project leader, poor communication and management of workforce, losses by damage or
malfunctions, human errors, absenteeism of staff, poor relationship with vendors and
suppliers, poor workmanship, making unnecessary changes along the way, lack of
foresight and poor allocation of resources (Papke-Shields and Boyer-Wright, 2017).
2. Stages and project benefits of well-structured project
The five stages in project management are:
 Project Initiation- Start of project, defining of goals, feasibility analysis at broad
level.
 Project Planning- Smart and clear goals are established and roadmap is built. The
cost, quality, resource allocation and scheduling are conducted and roles are
defined.
 Project Execution: Deliverables are developed and task like development of team,
resource assignment, execution of project plans, procurement, status meeting,
updating project schedules and modification of plans.
 Project monitoring: KPIs are monitored, progress in measured to ensure if project
is on track.
 Project Closure: Completion of project, Feedback, termination of workforce.
Major benefits of project management are that: it improves productivity, reduces
workload and costs, improves collaboration, enhances customer satisfaction, improves
performance, effective problem resolution.
3

3. Teamwork in project management
Good teams in any project help in achieving the goals of the project and overall
management efficiently and on time. They work collaboratively and coordinate better
amongst each other, encourage risk taking, build trust, bring diverse strengths together,
increase accountability, keep on getting feedback, better leadership and conflict
resolution. Bad teams on the other hand lead to waste of resources, issues in
collaboration, improper management, unable to solve complex problems etc (Driskell,
Salas and Driskell, 2018).
4. Knowledge areas in project management
Nine knowledge areas of project management are integration, cost, scope,
workforce, time, quality, communication, risk and stakeholder. Risk management is the
categorisation and prioritisation of risks that could potentially occur during execution,
and is done by creation of a risk register. Contingencies and controlling methods are
evaluated. Time management is done by dividing tasks into scheduled deadlines,
allocated budgets and phases of completion for achieving milestones and targets
(Nguyen, Chih and García de Soto, 2017).
5. Attributes of a project manager
A successful project manager has the ability to organise and delegate, has wis and
flexibility, balances logic with creativity, good communicator, leadership and
management qualities, technical expert, decision maker, problem solver, good negotiator.
Decision making is important as within the course of project, decision in terms of costs,
tasks, procurement, workforce etc, have to be taken and acted upon. Communication
skills are significant as the project manager has to connect with people at all levels and
clearly explain vision and mission of the project to all levels of workers (Tabassi and
et.al., 2016).
6. Benefits of using a network diagram
A network diagram is the graphical representation of all the responsibilities and
tasks that are undertaken in a project. It is utilised for mapping out the entire schedule
and the sequence of work in the project and tracks the progress of every phase of work
from beginning to conclusion. The major benefits are justification of estimated time and
4