Project Management

This document provides answers to various questions related to project management. It explains the definition of a project, discusses examples of projects, and explores the concept of value management. It also differentiates between strategy, programme, and project.

Running head: PROJECT MANAGEMENT
Project management
Name of the Student
Name of the University
Author’s Note

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PROJECT MANAGEMENT
Answer to question 1
Project is mainly defined as planned set of tasks that are interrelated and are generally
needed to be executed over the fixed period of time within the certain cost as well as other
limitations of the project (Kerzner and Kerzner 2017). It is also considered as an activity that are
helpful in meeting the creation of a unique product as well as services and therefore the activities
are mainly utilized for accomplishing the various routine activities that are not considered within
the project.
Answer to question 2
Yes, the guy who makes Pizzas in Pizza hut are generally engaged in the project. It is
found that making pizzas is small project that needs to be executed within a small period of time.
The pizza will generally be made in different phases of the project by setting the amount of time
and analyzing the requirements that are used within the project.
Answer to question 3
Yes, the guy who is engaged in restoring classic cars are mainly engaged in project. It is
found that restoration of classic cars is the project as the person who is associated with the
project needs to execute the restoration of car in five different phases in order to provide perfect
paint, reliable machines as well as comfortable interiors in order to get classic condition. It is
quite necessary to execute different types of steps in order to complete the project successfully.
Answer to question 4
No, the guy who engages in emptying the parking meters of money is not engaged with
the project as parking meters emptying is considered as an activity. It is found that parking
meters of money is an activity that can be executed without proper planning.

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PROJECT MANAGEMENT
Answer to question 5
Yes, value management can be applied once the project is properly defined. Value
management is one of the combination of various types of planning tools as well as methods that
are utilized for finding the optimum balance of project activity in context to project costs as well
as risks (Badewi 2016). Moreover, it is the procedure that is used for properly planning,
assessing as well as developing the project for making the right decisions about the optimized
balance in context to risks as well as costs.
Answer to question 6
According to Lowstedt, Raisanen and Leiringer (2018), strategy is mainly defined as an
action that is taken by the project managers in order to attain one or more of the goals of the
organization. Strategy is mainly about integration of the various types of organizational activities
and utilizing the scare resources within the entire environment of the organization in order to
meet the objectives of the project.
On the other hand, programme can be defined as one of action that is mainly aimed for
accomplishing clear business objectives with details of work that is needed to be done by
utilizing proper resources.
It is opined by Kerzner and Kerzner (2017) that project is defined as one of activities that
helps in meeting the creation of a unique product or service that is generally undertaken in order
to accomplish the activities. It is mainly referred as one of the activity that is quite helpful in
meeting the development of unique services as well as products such that the activities are
properly utilized for accomplishing the different routine activities which cannot be successfully
considered within the entire project.

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PROJECT MANAGEMENT
Bibliography
Badewi, A., 2016. The impact of project management (PM) and benefits management (BM)
practices on project success: Towards developing a project benefits governance
framework. International Journal of Project Management, 34(4), pp.761-778.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Löwstedt, M., Räisänen, C. and Leiringer, R., 2018. Doing strategy in project-based
organizations: Actors and patterns of action. International Journal of Project
Management, 36(6), pp.889-898.
Todorović, M.L., Petrović, D.Č., Mihić, M.M., Obradović, V.L. and Bushuyev, S.D., 2015.
Project success analysis framework: A knowledge-based approach in project
management. International Journal of Project Management, 33(4), pp.772-783.