Project Management Methodologies: Impact on Stakeholders and Major Elements

This article discusses the importance of project management methodologies, their impact on stakeholders, and the major elements that meet the needs of an organization. The article highlights the significance of project time, project capital, and communication in project management. It also emphasizes the need for effective communication and proper analysis of forecasting to complete the project within the stipulated deadline. The article is based on the learning outcomes of the course and information gathered from project management books.

Project Management

Table of Contents
1 Introduction.........................................................................................................................................2
1.1 Learning Outcome 1: Why organizations adopt Project Management Methodologies...............2
1.2 Learning Outcome 2: The impact of Project Management Methodologies upon stakeholders...3
1.3 Learning outcome 3: Major elements of a Project Management Methodology that might meet
the needs of an organization...................................................................................................................3
2 Discussion and Conclusion...................................................................................................................4
References...................................................................................................................................................6
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1 INTRODUCTION
The project management methodology is considered to be the techniques which specify the
development, planning, delivering and controlling the project. The implementation of the process
is important for the achievement of the goals and objectives of the project. The project
management methodology assists in carrying out all the processes of the project in an effective
manner. The project management methodology is considered to be the most effective approach
that is implemented for managing all the aspects of the project in an effective manner (Davidson
Frame, 2014).
1.1 Learning Outcome 1: Why organizations adopt Project Management
Methodologies
The organizations adopt the project management methodologies in order to ensure smooth
functioning of all the processes within the project. All the processes can be planned, evaluated,
executed and controlled in an appropriate manner with the help of the project management
methodology. The processes can be controlled with the help of the decision making and
problem-solving processes that ensure appropriate functioning of the techniques, approaches and
methods (Randolph, 2012).
Summary
The project management methodologies considered to be very much important which is used for
planning, controlling and executing the tasks effectively associated with the project. The
organizations focus on the project management methodologies in order to ensure the functioning
of all the activities associated with the project (Indelicato, 2011).
Evidence
The learning from the course carried in different weeks has enabled to understand the project
management methodologies. The project management books have also assisted to gather
information regarding the project management methodologies. The enhancement of the skills and
knowledge can be achieved with the help of the information gathered from different sources.
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1.2 Learning Outcome 2: The impact of Project Management Methodologies upon
stakeholders
The project management methodologies are considered to be imposing an impact on the
stakeholders of the organization. The stakeholders are considered to be very much important for
the organization because they assist in the growth of the organization. The establishment of a
relationship with stakeholders is considered to be beneficial for the organization in the long run
(Davidson Frame, 2014).
Summary
The gathering of information depicted the relationship with the stakeholders is important for the
organization. The project management methodologies impose a significant impact on the
stakeholders. The project management methodologies ensure that all the activities of the project
are being carried out as per the needs of the stakeholders. The stakeholders should get all the
information regarding the goals and objectives of the project (Graham, 2011).
Evidence
The collection of information from the project management books and from the learning courses
has ensured that the project management methodologies impose an impact on the stakeholders.
The stakeholder also supports the activities of the project that are being carried out by the
organization.
1.3 Learning outcome 3: Major elements of a Project Management Methodology that
might meet the needs of an organization
Project management as the name suggests is considered to be the most critical and crucial part of
a successful organization. It has several key impacts on the revenues and liabilities which is
ultimately focused on the key interaction with the client's satisfaction. The three most pivotal and
basic element of project management is project time, project capital and communication. The
project time is considered to be the primary constraint, the time frame for the completion of the
project need to be taken care of with intense analysis and proper research (Maltzman and Shirley,
2011). The capital and time are considered to be directly proportional to each other. The project
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capital and project time are considered to be the primary element of the project management.
Therefore, it is very much essential to prepare a key insight related to the project time and capital
which is based on the proper analysis of forecasting. Communication is considered to be the
most pivotal element of any project. Proper communications are considered to be a core pillar of
the project. Therefore, it is very much mandatory to manage and maintain an effective
communication in the project management during the completion of the project.
Summary
The summary is considered to be the most pivotal part of the project as it helps to provide the
key idea and notion about the key element and its important role in the project management. The
element helps to provide the platform to complete the project within the stipulated deadline or
the time frame with the available capital resources. The project management is considered to be
providing the basic platform for the overall completion of the project undertaken (Levin, 2008).
The organization needs to focus on the key element which is mandatory to be taken care off by
the team in order to avoid any obstacle which can have a negative impact on the overall
completion of the project.
Evidence
The evidence is considered to be important and needs to be collected based on the facts
generated and collected based on the Kerzner book of project management. Time and capital are
considered to be the two constraints in any project which is undertaken by the organization. For
managing and controlling the two significant factor project management is considered to be
playing a significant role in determining the overall success of the undertaken project. It helps to
enhance my skills and related expertise needed to complete the project following the two
constraints in the mind with the appropriated management of the undertaken project.
2 DISCUSSION AND CONCLUSION
Discussion and conclusion are considered to be important in the project management as it helps
to throw a clear and precise idea about the key element which is required and needed during the
overall preparation and implementation of the project undertaken. The objective and aim of the
project are vital to the overall completion of the project within the stipulated time and cost. Thus
the basic element of project management plays a pivotal role in determining the overall success
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of the project in long run. The organization primarily focus on the key factor which related to the
project management. The organization needs to rigorously focus on the key completion of the
project without wasting capital and time (Heerkens, 2015).
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REFERENCES
Davidson Frame, J. (2014). Reconstructing Project Management. Project Management Journal,
45(1), pp.e2-e2.
Davidson Frame, J. (2014). Reconstructing Project Management. Project Management Journal,
45(1), pp.e2-e2.
Graham, N. (2011). Project Management for Dummies. Hoboken: John Wiley & Sons.
Heerkens, G. (2015). Project management. [Place of publication not identified]: Mcgraw-Hill
Education.
Indelicato, G. (2011). Project management fundamentals: Key concepts and methodology,
second edition. Project Management Journal, 43(1), pp.92-92.
Levin, D. (2008). Global project management: Communication, collaboration and management
across borders. Project Management Journal, 39(4), pp.115-115.
Maltzman, R. and Shirley, D. (2011). Green project management. Boca Raton: CRC Press,
Taylor & Francis Group.
Randolph, S. (2012). Fundamentals of Project Management, Fourth Edition. Project
Management Journal, 43(4), pp.81-81.
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