Understanding Project Management

This assignment delves into the core principles of project management. It examines the definition of project success, highlighting key variables that contribute to achieving project goals. The document emphasizes the significance of various project management methodologies and their role in mitigating risks and enhancing success rates. Additionally, it stresses the importance of continuous improvement throughout the project lifecycle, ensuring optimal project outcomes.

Weekly Portfolio Learning Table
Topic and
reading
samples.
Personal learning
outcomes
Learnings from
your experience.
References.
Project
Management
Variables and
Success
Project success is whereby
the objectives and goals of a
given project are met. To
ensure success, all the success
criteria of any particular
project have to be met.
.
As much as project
managers are committed
to ensuring the success of
projects, they should
receive oversight from
the relevant stakeholders
just to keep them in truck
of whatever they do.
Kerzner, H. (2013). Project
Management: A Systems
Approach to Planning,
Scheduling, and Controlling.
[online] Available at:
https://leseprobe.buch.de/ima
ges-adb/01/a0/01a0f1b5-
054e-46ba-a3d3-
4d33b63eb326.pdf [Accessed
11 Oct. 2017].
Kerzner
Chapter 2 & 21
The main advantage of
project management is to
eradicate failure of the
project. On the contrary, there
are other advantages like:
i) Efficiency
improvement
ii) Confidence
enhancement
iii) Delivery being
consistent
iv) Satisfaction of
customers
v) Behavioural
changes
The important bit of this
week’s study is project
lifecycle. In Project
Management, the life
cycle of a project is made
of four phases. As
described in week 2
activity, the phases
include:
i) Initiation
ii) Planning
iii) Execution
iv) Closure.
Pmi (2017). Project Management
Professional (PMP) Handbook.
[online] Available at:
https://www.pmi.org/-/media/pmi
/documents/public/pdf/certificatio
ns/project-management-
professional-handbook.pdf
[Accessed 11 Oct. 2017].
Journals &
Standards
1

Topic and
reading
samples.
Personal learning
outcomes
Learnings from
your experience.
References.
 PMP Project life cycle include
project initiation, planning,
execution, control and
closure, such as, life cycle of
development projects.
The phases of Project
development are likely to
lead to failure as a result of
inefficient project
management.
 SAI
Global
Project management require
continuous improvement since
there are various modifications
which a project is likely to
experience in a life cycle.
Project management
methodology is the set of
guidelines for the
management of projects. In
case of a project management
at home, family members,
household tools,
methodologies and concepts
along with techniques are
used for overall management.
Custom
Outsourcing
There are several benefits
associated with the use of
project management
methodologies. First and
foremost, such methodologies
help in the mitigation of risk
as much as they also improve
success chances.
Methodologies are also
important in ensuring that
the phases are properly
clarified.
Portfolio Reflection
The methodologies of Project Management and continuous improvement will be employed to
ensure better management results.
2