Project Development and Optimization

Running head: PROJECT DEVELOPMENT AND OPTIMISATION
Project Development and Optimization
Name of the Student
Name of the University
Author Note

1
PROJECT DEVELOPMENT AND OPTIMISATION
Table of Contents
Introduction......................................................................................................................................2
Discussion........................................................................................................................................2
Conclusion.......................................................................................................................................2
References........................................................................................................................................2

2
PROJECT DEVELOPMENT AND OPTIMISATION
Introduction
The project management is referred to as the exercise the initiation, planning, and
execution, controlling and closing of the work of a certain team for the achievement of some
specified goals and meeting specific criteria of success at a particular amount of time. The
challenging part of the project management is the achievement of all the specific goals of a
project within a certain amount of time along with the given amount of constraints (Fernandez et
al. 2015). The project management consists of five phases or stages. These five stages includes
the concept of initiating a project, planning of a project, execution of the project, continuous
monitoring of the performance of the particular project to the completion as well as closing of
the project. In addition to this, the manager of the project is responsible for failure rate or success
rate of a project (Jeang 2015). The duties of the manager of the project involves planning and
defining a project along with its advantages and benefits which can meet the needs of the
customer.
This also involves the construction of a work plan which will be comprehensive along
with the management of the budget. In context of project management, the management of the
budget is an important factor as the project needs to be managed at minimum costs possible.
This report aims to focus on the on the key concepts related to the optimization of the project
along with the sustainability concept (Klimek and Łebkowski 2013). The project optimization
plays an important role as a good product can be constructed with the minimal requirements and
will be able to meet the important needs of the customers.

3
PROJECT DEVELOPMENT AND OPTIMISATION
Discussion
Project optimization can be defined as the method of detecting the solution from all the
available substitutive choice with respect to the performance that is mostly effective in cost and
highly achievable under certain amount of constraints by the process of maximization of the
factors that are desired along with the minimization of the factors which are undesired (Costa et
al. 2013). The optimization of project is very important because it helps in achieving the best and
minimal designs possible with respect to a set of mentioned constraints or criteria which remain
prioritized. This involves the maximization of certain factors like strength, productivity,
efficiency, longevity and utilization to name a few (Balfe et al. 2017). The development of any
project is the method as well as the facility which consists of planning of the specific resources,
organization of the specific resources along with the coordination of the specified resources
along with the controlling of the certain resources for the accomplishment of the certain specified
goals.
The initiation part consists of the method of outlining the project along with obtaining of
the permission for beginning the project. The part of planning consists of the method of
development of the plan for the project management for reaching the goals of the particular
project. The part of the execution consists of the method of completion of the work according to
the plan of the project management (Menabde et al. 2018). The part of monitoring and
controlling consists of the method of the predetermined work being reviewed and its progress
being tracked at the time of accounting for the changes that are naturally unplanned.
A certain improvement of transportation is taken by the process of development of the
projects from the concepts with the help of method of construction. The whole process of making
the all the decisions regarding any kind of project is called as optimization of the project (Funke