Principle of Project Management

This document provides an analysis of the principles of project management, including tailoring, project lifecycle, and project management methodologies. It discusses their interdependency, implications, and constraints, as well as the different areas of knowledge in project management.

Running head: PRINCIPLE OF PROJECT MANAGEMENT
Principle of project management
Name of the Student
Name of the University
Author’s Note

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PRINCIPLE OF PROJECT MANAGEMENT
Introduction
An analysis is made on the principles of project management for discussing the range
of key contexts that can be collectively used as a learning body in the foundation of project
management. For the discussion tailoring, project lifecycle and project management
methodologies are evaluated for identifying their relation with each other, constraints and
implication in the project management. The topics are critically evaluated in terms of current
professional practice for the identification of interdependency between them.
Tailoring
A project is treated as unique and it is necessary that the processes involved in project
management is needed to be tailored for ensuring that the project is completed successfully.
Tailoring can happen on any time for the application of process in the project and there are
different situations where there is a need to adjust the processes for ensuring that the project
is completed within the scheduled time and budget (Pmi.org. 2019). A project management
methodology is used by the organization for allowing adjustment for management of different
types of projects. A list of base processes is created for its utilization in the current project
and allowing adding processes for meeting the base requirement. All the possible processes
can be identified for the removal of some processes aligning the project needs. An analysis
and evaluation is made on the history of project management, project lifecycle and tailoring
for finding its significance in the current professional practice (Kerzner & Kerzner 2017).
The interdependency, implication and constraints are identified and described for finding its
impact on the development of project.
Project management knowledge areas
There are different areas of knowledge for project management such as project
integration management, scope management, schedule management, cost management,

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quality management, resource management, communication management, risk management,
procure and stakeholder management. The project management plan is created and
distributed to the stakeholders for its approval (Uhl & Gollenia 2016). The project knowledge
is needed to be managed for acquisition of additional knowledge and active management is
needed for ensuring that the project is completed within the budget and time. The progress of
work is needed to be monitored and an earned value analysis and project status report and
identification changes in the project. An integration change control is needed to be performed
for the management of change request forms and the change logs.
The project scope management is necessary to be included since the change of the
scope is the main cause of changes in the project. It is important to define the project
boundaries and the progress is needed to be monitored. After starting the project a scope
management plan is needed to be developed and the requirements are needed to be collected
from different sources. A scope statement is needed to be created for defining the scope and
creating a WBS and breaking the project work (Pmi.org. 2019). The scope is needed to be
validated for its approval from the client and monitor and control the project. A scope control
is needed to be maintained and the statement should be revisited for completing the current
project status.
Project schedule management is also necessary for the development of the project
schedule and dividing the project tasks and assign a start and finish dates to them. The project
that involves a change is needed to be continuously baselined and the plan is needed to be
updated (Kerzner 2017). For planning the schedule management the activities are needed to
be defined and the task should be sequenced according to their order or relationships. It is
also essential to control the schedule at a regular project interval status for analysing whether
the project is before or after the point of status (Muller 2017).

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Cost management of the project is also necessary for estimating the budget of the
project taking into account the labour, resource, equipment, material and other cost necessary
for completing the task.
A project quality management is needed to be performed for improving the project
quality and establishing the level of quality in the final project. A quality management plan is
needed to be prepared containing the specification of quality for service and product
(Milosevic & Martinelli 2016). The quality of deliverables is needed to be ensured and it
should be inspected for ensuring that the deliverables meets the quality standards.
The resource management is necessary for increasing the concern of the team
members and ensuring satisfaction and performance of them (Pmi.org. 2019). Monitoring of
the resources and evaluating their performance helps in ensuring that the productivity is
maximized.
Communication management is used for satisfying the stakeholders for management
of unexpected changes. An early communication is needed to be maintained and a progress
update is needed to be maintained such that the communication and practice can be managed
actively.
A risk management is necessary for itemizing, categorizing and prioritizing the risk.
The risk is needed to be identified and a risk register is needed to be prepared for performing
a qualitative risk analysis and planning a risk response plan (Pmi.org. 2019). The risk
response is needed to be implemented and monitored for eliminating the risk.
Under project procurement management a statement of work is needed to be created
with the reference term and proposals for soliciting the responses (Baptista et al. 2016). A
control procedure is used for execution and the contractor is needed to be managed for
managing the changes in the project.

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Stakeholder management is necessary for including them in the project plan. Firstly
the stakeholders are needed to be identified and a planning is needed to be made for their
engagement (Altwies & Preston 2016). The engagement of the stakeholders is also needed to
be managed and monitored determining their needs and ensuring that their demands are
fulfilled.
Project Life Cycle
The project life cycle is used for defining the beginning and end of project and
determining the feasibility to undertake the project. The number of people needed to be
involved in the project is needed to be identified and a general description is needed to be
provided for each of the phases (Pmi.org. 2019). A common characteristics is shared for each
of the project lifecycle description and the cost and staffing levels should be low at the
beginning of the project and gradually increases throughout the progress of the project. The
project and product lifecycle is needed to be distinguished from each other.
There are similar phases name available in project life cycle that have similar
deliverables needed. Each of the deliverables have four to five phases but some of them may
have nine or more than that. There are many distinct lifecycle containing in the sub projects
and it can help in treating the design facility for supporting the development as separate
project having distinct own phases (Kliem & Ludin 2019). The project life cycle is
represented by a series of acquisition milestone such as:
 Development of technology and concept
 Demonstration and system development
 Deployment and production
 Support
 Feasibility

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The phases differs based on the project such as for the pharmaceutical project the phases are:
 Screening and Discovery
 Preclinical development
 Registration workup
 Post submission activity
Key interdependency
The tailoring methods include evaluation of the existing process, assessing project,
documentation of the tailoring process and re-evaluation. Before the application of tailoring
process the project management methodology is needed to be identified. The key
interdependency between the project management knowledge areas are the processes because
it can affect the output and it is restricted to a single process or the project (Pmi.org. 2019).
The project lifecycle defined by the different phases helps in transfer of technology and for
designing, construction of operation or manufacturing. The deliverables from the previous
stage is used for approval before the work is started for the next stage.
Implications
The areas of knowledge of project management is needed to be determined for
identifying the processes that are responsible for the success of the project and the process
that are needed to be adjusted. There are different tasks in the knowledge area for holding the
project together and integrating it as a whole. A project charter is needed to be created in the
initiation phase and an authorization is needed from the end of project manager (Kerzner &
Kerzner 2017). A project plan is needed to be created for guiding the project manager and
ensure that the project is completed successfully. The definition of project lifecycle is used
for linking project with different ongoing operation. The overlapping phases is often called

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fast tracking and it is used for defining the technical work that is needed to be done for each
of the phases.
Constraints
The requirement for the project is needed to be collected for defining the scope and it
can act as a constraint for the development of the project (Pmi.org. 2019). The main
constraints are the scope, time and cost and the project manager is responsible for the
scheduling the activity and monitor the project for successfully completing it within the
proposed deadline and budget.

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