Managing project management knowledge

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Running head: PROJECT MANAGEMENT KNOWLEDGE
PROJECT MANAGEMENT KNOWLEDGE
Name of the Student
Name of the University
Author Note

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Table of Contents
Introduction......................................................................................................................................2
Comparison of different approaches in project management..........................................................2
Responsibility of a project team......................................................................................................4
Identifying the strategies for self and team improvements..............................................................6
Conclusion.......................................................................................................................................7
References........................................................................................................................................8

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Introduction
The paper aims at describing and reflecting on the importance of project management
knowledge. In this paper the main concern is to identify the factors that are essential for carrying
out a project successfully. In addition to this the paper will also focus on determining the team
dynamics importance, the way project can be managed and communication process in the project
management. Hence it can be stated that with proper focus in the assessment it will become easy
to evaluate the different theoretical approach that are related with the project management.
Comparison of different approaches in project management
Project management is known as the collection of knowledge, tools, techniques and skills
that are used for the purpose of meeting the initial requirements that are needed for developing a
project successfully. The main reason behind using an effective project management approach is
that it ensures that the project is organized effectively based on the time. This also ensures that
the cost needed for developing the project has been identified at the early stage, thus enhancing
the business process. One of the key reasons behind using project management approach is that it
helps in minimizing the projects risks by identifying the risks at the early stage. Thus it can be
stated that with the help of an efficient project management. The key phases that are associated
with a successful execution of a project include initiation, planning, execution, monitoring and
controlling and closing. It is important to ensure that the project development process has gone
through this phases for the purpose of achieving better results (Badewi 2016). Beside this there is
a wide project management knowledge area that is needed to be evaluated critically for the
purpose of proper execution. This includes integrating the project into different components,

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determining the scope, time, cost and quality that is needed to be managed while developing the
project successfully.
In the fields of project management there are wide number of approaches that help in
successful development of the project. This approach varies based on the project requirements
and size. The different project management approaches are compared and discussed below:
 Agile project management approach: This project management approach is mainly works
with the value-centered method. The projects developed through the agile project
management processes are divided into small phases for the purpose of smooth
execution. This is considered as one of the most flexible methodologies as compared
together approaches and tends to have dynamic traits. This helps in improving the project
execution process. This is used for the purpose of executing small software projects and
offers high collaboration with team with frequent iteration processes. the key benefits that
are offered with the help of agile project management is that it helps in producing high
quality products with ensuring that proper testing is carried out for managing the
checkups (Marchewka 2016). This also ensures that higher customer satisfaction is
offered towards the customers with the use of agile project management process. The
risks can also be reduced with the use of agile project management approach. Hence it
can be stated that with the help of agile project management methodology it will become
easy to develop the project in different iterations. Scrum project management approach: Scrum is designed on the planning process of agile
framework that is designed for the purpose of offering a better collaboration process
among the other project management methodologies. The main reason behind selecting
this approach is that it helps in saving the time and money for the organization. the main

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reason behind using scrum project management approach is that it helps in obtaining high
revenue and ensures that proper feedback are generated for every release of the product
(El Bajta et al. 2018).
 PRINCE2: The PRINCE2 approach is considered as one of the most flexible approach
that justifies the business outputs. This also ensures that the projects are designed with
proper justification. The cost estimation also becomes easy with the help of proper
project management knowledge. The main benefits that are offered with the use of
PRINCE2 approach is considered as an effective way of managing the projects as this
helps in making decision effectively. Waterfall: The waterfall methodology is a traditional approach that is used for the
purpose of carrying out a project management process. These are commonly used in the
fields of construction related projects. This is the approach that is executed into different
sequences and is dependent on the previous phase. The main reason behind using
waterfall project management approach is that it helps in ensuring that a clear structure
has been designed for managing the project effectively (Radujković and Sjekavica 2017).
This also ensures that the goals are described clearly at the early stage. Thus it can be
stated that with the help of proper project management methodologies it will become
easy to improve the way projects are carried out.
Responsibility of a project team
Project management skills are responsible for executing a project successfully. There is a
need to ensure that the project related knowledge is described effectively. The method through
which project team can execute the project development process effectively is by determining

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the project goals properly and also becomes defining the roles (Pimchangthong and Boonjing
2017). This also helps in making decision effective. There is a need to ensure that the project
team is designed properly for the purpose of executing the projects effectively. Before
developing a project it is important to ensure that project has been developed based on the
identified objective. The project team needs to have a proper control over the phases of project
so that it becomes easy to manage the project components effectively (Gomes and Romão 2016).
In order to enhance the way project is developed it is necessary to have proper project team this
includes project manager, project sponsor, executive sponsor, and project team member and
business analyst.
The role of project manager is to identify the efficient project team members who will be
capable of meeting the needs of the project. Project manager is responsible for identifying the
key objective behind the project so that it becomes easy to manage the performance.
Project sponsor is the one who is responsible checking the key components needed for
successful execution of a project. Project sponsor ensures that all the necessary resources are
sponsored effectively towards the members for the purpose of executing project successfully.
Project sponsor plays a crucial role and thus it is important to ensure that the project sponsor is
capable of managing all the necessary technical and non-technical resources that are needed for
executing project successfully.
Executive sponsor focuses on ensuring that the project related resources are well
managed before starting the execution process. It is important to ensure that the executive
sponsors are knowledgeable about their role. Each member plays a crucial role and thus without
a proper contribution it becomes difficult to manage the project performance.

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Project team members are referred to the members who work together with the motive of
providing better support towards the project development process. Each member ensures that all
the project related activities are shared and communicated with the other team members. It is
important to ensure that proper communication process is essential for ensuring that the project
has been executed after analyzing all the key requirements.
Business analyst is responsible for evaluating the project related aspects effectively so
that it becomes easy to develop the project successfully without any errors. It is important to
ensure that every phase is analyzed properly by the business analyst so that the chances of errors
can be reduced while executing a project.
Identifying the strategies for self and team improvements
While working within a project it is important to ensure that the developed project team
is capable of meeting the main objective. Each team members must have a proper
communication skill for enhancing the business performance (Chavez 2018). In order to improve
the self-performance it is important to ensure that I have a better communication skill that has the
potential to influence other project members. In addition to this it is equally important to ensure
that I have gained proper knowledge regarding the project management success factors so that it
becomes easy to execute the project successfully. With a better project management skill it
becomes easy to enhance the business performance.
The strategy that is needed for improving the team performance is discussed below:

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1. Defining the project objective and communicating the vision among the team members so
that it becomes easy to drive the project success effectively. It is important to ensure that
every team member is capable enough for meeting the key objectives of the project.
2. Encouraging and rewarding the project team members for their contribution is considered
as one of the most important aspect. An encouraged team member will be capable of
delivering better output towards the project development process.
3. Ensuring that proper communication channel is designed for engaging the project team
members. With an effective communication channel it becomes easy to manage the
different processes within the project.
4. Finding appropriate project management tools for managing the project performance.
Conclusion
Thus after analyzing the different project management approaches it can be established
the knowledge gained on the fields of project management will ensure that the project can be
managed successfully. In this assessment I have focused on evaluating the different components
that are linked with project management. Moreover with the different project management
approaches are also identified efficiently within this assessment. With the help of effective
project management approaches it becomes easy to implement the projects. This improves the
chances of achieving the goal of the project. The scope can also be determined effectively along
with determining proper schedule and budget after analyzing the requirements.

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References
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.
Chavez, R., 2018, June. Implementing Project Management Methodologies in Social
Entrepreneurship Initiatives in Developing Nations: Methodology for Training SE Project
Managers and Two Case Studies. In Global Conference on Business and Economics (GLOBE
2018) (Vol. 6).
El Bajta, M., Idri, A., Ros, J.N., Fernández-Alemán, J.L., de Gea, J.M.C., García, F. and Toval,
A., 2018. Software project management approaches for global software development: a
systematic mapping study. Tsinghua Science and Technology, 23(6), pp.690-714.
Gomes, J. and Romão, M., 2016. Improving project success: A case study using benefits and
project management. Procedia Computer Science, 100, pp.489-497.
Marchewka, J.T., 2016. Information technology project management: Providing measurable
organizational value. John Wiley & Sons.
Pimchangthong, D. and Boonjing, V., 2017. Effects of risk management practices on IT project
success. Management and production engineering review, 8(1), pp.30-37.
Radujković, M. and Sjekavica, M., 2017. Project management success factors. Procedia
engineering, 196, pp.607-615.