Managing Projects

Managing Projects
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Contents
INTRODUTION..............................................................................................................................3
TASK 1............................................................................................................................................3
Key Characteristics of Project.....................................................................................................3
Importance of Integration management in Project management.....................................................4
Scope Statement of Project..........................................................................................................4
Budget Generating Approaches in Project Management.............................................................4
Types of Risk in Project..............................................................................................................5
TASK 2............................................................................................................................................5
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15
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INTRODUTION
Project management is considered as the practice of leading the operation of a team in
order to achieve the goals and meet success criterion with in specified time period. The main
object project management activity if to achieve all the needs and goals of the project with all the
requirements. Project management is considered as the actions that are performed by the
organization to manage various tasks in effective manner Kerzner, 2017). This report is
providing key characteristics of any project in an organization. The importance of integration
management in the project management setting. The scope statement for the project will be
defined in the report. The role of the work breakdown structure also will be explained in the
report. Various approaches of generating budget of project will be discussed in the report.
Different type of risk in project and methods to reduce the risk with in the project will be
analysed in the report. Quality management methods that can be used in the project will be
discussed in report. Complete project management process will be defined in the report.
TASK 1
Key Characteristics of Project
There are different characteristics of any project that runs in a business organization.
some of the main characteristics of the projects are- Temporary, unique deliverables and
progressive. These are considered as key characteristics of the projects that are implemented in
different organization to meet the goals and needs of the organization in effective manner.
Temporary- Each project have definite initial starting and definite end. Each project have finite
starting and finite end. The reason behind is related to the aim and objective of the organization.
As these projects are based on the targets of the organization (Meredith, Shafer and Mantel Jr,
2017). The main purpose of the projects in the business organisation is to implement positive
implementations in the organizations to generate higher benefits from the market place. These
projects are based on the various targets of the organization and designed to meet these targets in
effective manner.
Unique Deliverable- These projects are designed to deliver something unique to the organization
through these processes organization can offer unique qualities or features to the organization
that can help the company to gain higher profitability and higher benefits to them in market
place. The objectives of the projects are based on the needs and requirement of the organization.
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Progressive Elaboration- The projects that are run by the organization are progressive and
continuous. This projects are continuous implementation or reaching process that can improve
the knowledge and data base of the organization. This is how progressiveness of the project to
improve the effectiveness of the organization in the business operations.
Importance of Integration management in Project management
Integration management is considered as the process to combine all the tasks that are part of the
project. This is all about the right coordination of all activities in order to complete the project
with right process. Integration management includes various activities like coordination of task,
resource management, stakeholder management along with the other elements of the project that
is implemented by the business organization. This process also includes the conflict management
in the process of the project management. This is how integration management process can be
used by the business organization to complete various processes in effective manner. Project
integration management can be explained as effective coordination of all activities in effective
way to meet the targets and objectives of the organization in effective manner (Heagney, 2016).
Because of the success of the project integration is most crucial element of the project
management process.
Scope Statement of Project
Scope statement of the project is considered as tool that is used by the management
department of the organization which is included in the project management to describe all the
major deliverables that are considered in the project. This is how in project scope statement
project leader specifies the major targets and their impact on the business organization. Though
this purpose requirement and importance of the project can be stated more clearly.
Budget Generating Approaches in Project Management
There are different project management approaches are used by the project management team in
order to complete the project in effective manner. Budget management processes allows the
organization or project team to collect or rise monetary resources. Some of the most common
processes that are used by the project team are- Crowd Funding, silent auction, angel investor or
capital of the organization. These are most common processes that are used by the business
organization or project teas to effectively generate the budget for the project. In the budget
generating process all the elements of the projects and various expenses in the project are
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