This study analyzes the PMBOK knowledge areas, project management best practices, and code of ethics. It compares project management methodologies, explores suitable leadership styles, and discusses risk management techniques. The study provides insights into the principles and practices of project management.
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Running head:PRINCIPLES OF PROJECT MANAGEMENT Principles of Project Management Name of the student: Name of the university: Author Note
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1PRINCIPLES OF PROJECT MANAGEMENT Executive summary The following study helps in analyzing the PMBOK knowledge areas and various groups. This includes the effects and significance of the best practices of project management and the code of ethics of Project Management. After that different approaches of project management are contrasted and compared in a critical way. Further, proper techniques and tools of the project management are implemented. It is useful to understand risk management styles. Further, different styles of leadership to succeed in a broad range of project management cases are also shown in the study. It involves a personal ability to succeed in those cases.
2PRINCIPLES OF PROJECT MANAGEMENT Table of Contents 1. Introduction:......................................................................................................................................3 2. Understanding the theory:..................................................................................................................3 3. Analyzing the practice:......................................................................................................................4 4. Discussion on the reflection:.............................................................................................................4 4.1. PMI ethics:...................................................................................................................................5 4.2. Comparing and contrasting project management methodologies:...............................................5 4.3. Suitable project management technique and tools to pay attention to risk management:............6 4.4. Reflection on suitable leadership styles:......................................................................................6 5. Conclusion:........................................................................................................................................7 6. References:........................................................................................................................................8
3PRINCIPLES OF PROJECT MANAGEMENT 1. Introduction: In a nutshell, the project management indicates to the disciplines of controlling, leading, managing securing, organizing and planning and achieving specific goals. In the PMBOK or Project Management Body of Knowledge, the process groups indicates the process phases that the project has been going through. This knowledge area has been happening across any time while group processing takes place (Varajão, Colomo-Palacios & Silva, 2017). Understanding of PMBOK knowledge sectors and groups of processes and the roles, impacts and relevance over project management best practice and PM’s code of ethics is discussed in the study. Then, various project management approaches are critically compared and contrasted. Then, suitable tools and techniques of project management are applied. This is to pay specific attention to risk management. Then the leadership styles required for succeeding in a wide range of project managementcasesare reflected.Thisincludesthepersonal capacityfor succeedingin these situations. 2. Understanding the theory: The sector of knowledge as per PMBOK is the determined sector for project management. This is been defined by the requirements of knowledge (Karaman & Kurt,2015). Further, it is detailed under the terms of initial data, tools, results, techniques, practices and processes that are been composed in them. Every process of project management is present in PMBOK that is categorized into 10 sectors. The components must be integrated with ITM platform (Rui et al., 2016). Here, controls must be kept in the activities, costs, supplies, customers, resources, risks and so on. This includes stakeholder management, procurement management, risk management, communication
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4PRINCIPLES OF PROJECT MANAGEMENT management, human resource management, quality management, cost management, time and scope management along with the integration of the project (Brioso, 2015). 3. Analyzing the practice: Itcoversthebestpracticesfortenprojectmanagementareasofknowledge.Project communication management involves communication with payers in external stakeholders and project teams. Then, there is the project cost management (Hornstein, 2015). Putting the pan on track and finishing the project under the budget includes careful coordinating and management. Next, there is human resource management is also a part of the PMBOK (Reich & Wee, 2019). Further, the project manager is liable for consolidating and coordinating various activities to a coherent effort. Next, there is procurement management (Hermano & MartÃn-Cruz, 2019). Here, the project deals with intangible ones and physical resources. Further, it is also witnessed that there is quality management and risk management (Svejvig & Andersen, 2015). Next, there is project scope management. Besides, there is project stakeholder management and time management that are included in the study (Varajão et al. 2017). 4. Discussion on the reflection: I have come to know that the PMBOK guide has been helpful to determine the various set of interrelated tasks. These are performed for a particular set of services, results and products. This is a method to transform the input to the output. It can be done by utilizing proven techniques and tools. This is helpful to drive the development. The process has been serving as the roadmap to keep the project move to the proper direction. The smart processes are been based on various sound principles. This is a proven practice. It is highly vital to assure the success of the project. Here, the measures are helpful to decrease the uncertainty and confusion of the project managers and stakeholders.
5PRINCIPLES OF PROJECT MANAGEMENT As identified all the projects require some process groups that involve the closing, controlling, monitoring, executing, planning and initiating. Moreover, the process groups have been bundling together the processes that are been operated across a similar time over the same type of outputs and inputs. As we get comfortable to that, they turn into the logical way to be group together the elements that are needed to be done. 4.1. PMI ethics: I have analyzed that in the current tumultuous world, the project managers need to be able to run the project in a successful manner. They must also prove to be the model for their project group. At first, it is achievable with the help of practicing and learning. Next, the second one denotes the relentless respect for the constant focus and ethics over professional conduct. As faced with the ethical dilemmas, performing ethical decisions is difficult, challenging and complex. As one can gauge the effect through answering in positive, the decisions raise the trust and transparencies. This is helpful for assuring the long term impacts for the interest protected for every people. Smart project management should stay relentless in the search to stay ethical. Whenever we must lead the projects and teams, we must assure that we are aware of the ethical issues. 4.2. Comparing and contrasting project management methodologies: The waterfall methodology brings greater risks. The rigidity of the method indicates that as there is an error or necessity to change, one must effectively begin the project from starting. Further, the waterfall model best suits the teams for constriction and manufacturing that develop physical products and then follow the precise orders to assemble. The CPM is highly helpful for better scheduling and the emphasis is to map the duration of tasks and interdependencies. This is useful to schedule the tasks better. Next, it is helpful for prioritization. Further, one requires the depth of experience to use this. However, there is also
6PRINCIPLES OF PROJECT MANAGEMENT inflexibility present here and like waterfall method the CPM is also front-heavy. Nevertheless, we must choose CCPM as this is resource efficient. Here, the complete focus is on suitable resource management that makes the CCPM the smartest resource-effective project management methods across. Next, there must be a focus on the end goals. This never obsesses the optimum solution to the issues. Besides, it giver priority over smarter solutions that is useful to meet the ultimate goals. However, this never goes for numerous environments of projects. Further, its approach can only perform over single project scenarios. The project shares resources in multi-project scenarios. It plans for resources distribution for such kind of scenario. Then the delays are common here. The CCPM allots the padding and gaps between activities for deriving the length of task time. 4.3. Suitable project management technique and tools to pay attention to risk management: I think the PMBOK guide is the system and is a de facto standard. Thus it has been processing oriented and states that the knowledge requires the management of the lifecycle of the portfolio, program and project across the processes. Moreover, it has been defining the process and required inputs,techniques,toolsandthedeliverablesandoutputs.Besides, ithasbeendefiningthe knowledge and the industry that is specific and is the best practice for the area of application. Nonetheless, it must be kept in mind that it is complex for small projects also. It is required to get adapted to the application area industry, scope and size of the project, budget and time with quality constraints. 4.4. Reflection on suitable leadership styles: Firstly, it must be coercive. This must be rarely used for project managers and is apparent when the crisis situations go on. Furthermore, I have come to know about the authoritative style. However, arguably, more deployment of the style has been to provide better outcomes from the project teams. This is despite the resulting impacts of the style that has a positive effect on the
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7PRINCIPLES OF PROJECT MANAGEMENT business. Next, it has learned about the affiliative style and the democratic one. Moreover, there is a pacesetting that has been much impressive. It is useful as the project comes up with the primary milestones. Here, the development of the actual resource for any businesses to be considered as any crisis situation is to be considered. Lastly, coaching is an effective type of leadership. This helps in encouraging the team members in developing the individual capacity and capability as the project contributors. This also has been a positive effect on the team of the project. 5. Conclusion: The project management includes planning, controlling and monitoring various elements of the project. It involves the motivations for those involved in that with the aim to gain the objectives within time. It must be done on particular performance, quality and cost. It is an individual body of authority, responsibility and accountability to manage the projection gaining particular aims. It is vital to govern the projects. It is understood from the above study that the team leaders require to know the project life-cycle, risk management and risks for developing the strategy of the project in becoming successful. Nevertheless, it has learned that we must keep in mind that the project sees to gain the goals, they require to understand when to stop. This must be prior they move to spend beyond the particular budget. The PMBOK guidelines must be embedded in professional and ethical practices. They should utilize ethical decision-making systems and engage the respectful discussions. They must consider the various perspectives into their consideration. This is to develop the abilities to tackle and explore the ethical challenges, to face now and make the future with better change makers, strategy implementers and better leaders.
8PRINCIPLES OF PROJECT MANAGEMENT 6. References: Brioso, X. (2015). Integrating ISO 21500 guidance on project management, lean construction and PMBOK.Procedia Engineering,123, 76-84. Burger, M., & Zulch, B. (2018). A construction project management knowledge model: The type and level of knowledge required.Acta Structilia,25(1), 98-125. Hermano, V., & MartÃn-Cruz, N. (2019). Expanding the Knowledge on ProjectManagement Standards: A Look into the PMBOK® with Dynamic Lenses. InProject Management and Engineering Research(pp. 19-34). Springer, Cham. Hornstein,H.A.(2015).Theintegrationofprojectmanagementandorganizationalchange management is now a necessity.International Journal of Project Management,33(2), 291- 298. Karaman, E., & Kurt, M. (2015). Comparison of project management methodologies: prince 2 versus PMBOK for it projects.Int. Journal of Applied Sciences and Engineering Research,4(4). Ma, Y., Ma, J., Zhang, P., Ma, Y., & Che, C. (2018). Research and Application of PMBOK (Project Management Body of Knowledge) in the Management of Oil and Gas Pipeline Projects. Nicholas, J. M., & Steyn, H. (2017).Project management for engineering, business and technology. Routledge. Papke-Shields, K. E., & Boyer-Wright, K. M. (2017). Strategic planning characteristics applied to project management.International Journal of Project Management,35(2), 169-179.
9PRINCIPLES OF PROJECT MANAGEMENT Reich, B. H., & Wee, S. Y. (2019, March). Searching for knowledge management practices in the PMBOK Guide. InProceedings of the PMI Research Conference. Rui, X. U. E., Baron, C., Esteban, P., & Zheng, L. (2016). Integrating the ISO/IEC 15288 systems engineeringstandardwiththePMBoKprojectmanagementguidetooptimizethe management of engineering projects. InComplex Systems Design & Management(pp. 291- 291). Springer, Cham. Svejvig, P., & Andersen, P. (2015). Rethinking project management: A structured literature review with a critical look at the brave new world.International Journal of Project Management, 33(2), 278-290. Varajão, J., Colomo-Palacios, R., & Silva, H. (2017). ISO 21500: 2012 and PMBoK 5 processes in information systems project management.Computer Standards & Interfaces,50, 216-222.