Innovative Practices of Project Management Methodology- Report
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Added on 2019-11-26
Innovative Practices of Project Management Methodology- Report
Added on 2019-11-26
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2017Master of project managementMaster of project management
ContentsIntroduction:...............................................................................................................................2Description:................................................................................................................................2Challenges in the implementation of the project management methodologies:........................4Identification of the difficulties and mitigation strategies used for implementation:................5Benefits of the project methodologies for the organization.......................................................6Conclusion..................................................................................................................................8References..................................................................................................................................9Appendix 1:..............................................................................................................................10Appendix 2:..............................................................................................................................12Appendix 3:..............................................................................................................................14Appendix 4:..............................................................................................................................16
Introduction:The innovation and creation is required in carrying out fruitful business operation for the successful completion of the project. The change in the technology can bring the change in the business activity performance (Langey, 2012). The survivability of the organization depends on the methods opted for managing the business activities and the mitigation schemes used for overcoming the risks associated with the project. There are three organizations which are different in their working curriculum want to adopt project management methodology. The organization 1 is dealing with the financial services with the limited number of employees about to be 80. The regulatory framework is used by the organization for governing the policies of the business (Zuo, 2014). The organization 2 is dealing with the building society with the number of employees about to be 600. The existingworking curriculum of the organization is based on Regulation authority-regulatory performance framework. The organization 3 is dealing with the technological services with the number of employees about to be 1200. The existing working curriculum of the organization is based on capability maturity model integration. The companies want to transform their working culture with the innovative practices of project management methodology. Description:The organizations are looking forward for developing common framework of project management in relation with conceptual design and associated terminology (Vaughan, 2013).The agile methodology should be adopted by the organization to overcome the complexity of the project in completion the project activities within the allocated time. Implementation Plan and methodologies for the organizations:Organization 1:The focus should be given on the external and internal factors which are responsible for demanding the change of working tactics (Khalil, 2015). They are categorised as change in the perception of the top management, availability of the financial resources, in-house capability of the experts, involvement of expert staff, changing the strategic context of the business, improving the quality of the product, and others. The working of the organization 1 can be improved with the deployment of ICT technologies within the working structure of the
business. The internal and external factors are responsible for the deployment of the ICT technologies. The internal factors are categorised as technological factors and organizational factors. The change in technology helps in managing the size, managerial structure and availability of the resources. The external factors are categorised as competitors, marketing strategies, and environmental factor. The financial services of the organization can be enhanced by developing the central database for performing financial transaction with accuracy (Guerin, 2012). It helps in broadening the regulatory compliance and security program of the organization. The electronic trading can be easily performed. The diagram in the appendix shows the framework of adopting ICT working structure for changing the working scenario of the organization 1.Organization 2:There are five key domains which should be taken into consideration for the deployment of agile project methodologies which are classified as changes in the IT architecture, strategies deployed for IT infrastructure, changing need and requirement of the business and customers.Investment in implementing new IT tools and technologies, and setting of priority associated with the working process. The companies want to transform their working culture with the innovative practices of project management methodology. The organization 2 is dealing withbuilding society which is different from project to project according to the requirement of the construction. It is a large organization consisting of 600 employees. Agile methodology works best in overcoming the problems of current working structure and enhances the delivery of the project within the specified time and costs (Bal, 2013). The key areas of this methodology is development of iterative program, organization of the team, improving quality of the process integration, collecting feedback, efficient in performs unit testing, and make the project ready for change according to the changing requirement of the customers. Monitoring and controlling can be effectively done with the deployment of agile methodologies (Wuest, 2015). The implementation of the agile methodology in the working curriculum of the organization 2 includes the following to be taken into consideration:The importance of the agile principles in the setting of the business activity plan (Mishra, 2011)The desirable behaviour for the agile methodologyFunds required for the adoption of the agile methodologyThe new business opportunities can be created with the deployment of it
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