logo

Project Management Methodology- Assignment

   

Added on  2020-03-23

2 Pages568 Words126 Views
 | 
 | 
 | 
The company wants to diversity into different industries for which it needs to improve itscapability to manage projects. The company had developed a custom project managementmethodology 7 years back that is not efficient now so the company needs to develop a newmethodologyBefore a new PM can be developed, an analysis has to be done on the existing situation of thecompany such that appropriate recommendations can be made accordingly. This presentationis going to cover these analyses and recommendations.Project management framework is different from methodology. A framework only provides aguideline such as given in PMBOK and ISO 31000 framrworks used for project managementand risk management. Methodology gives action steps for execution such as given inPRINCE 2, CAM2P, Agile, Scrum and Waterfall methdologiesDifferent project management practices can be used in different phases of a project includinginitiation, planning, execution, monitoring & controlling and closing as shownThere are four core project life cycle stages that can be applied to any project irrespective ofthe methodology or framework used. These include four key phases – initiation, planning,executing, and closing. The outputs and milestones of each are shown in the table herePolicies provide guidelines and procedures provide steps for execution. Table showsexamples of policy statements and procedural steps. For instance, policy says that a businesscase must be prepared to get approval while procedure says that it must be prepared afterconsulting stakeholdersProcedures and policies can be standardizing using certain steps starting from needidentification, research involving identification of policies, documentation of policies, theirsubmission, approval, communication, implementation and review.The knowledge generated in an organization can be managed and used with implementationof an appropriate knowledge sharing mechanism. This includes development of a databasewhere knowlege is captured and then shared between membersThe table shows some knowledge sharing practices that can be used by organizations forproject learning. These practices can be formal such as database development, training andflagship project development. Informal methods include collocation, creation of matrixstructure allowing knowledge sharing among members through meetings or use of hints givenby top management for problem solving.At each stage of the project life cycle, responsibilities can be assigned to different peopleworking on the project as shown in the table. It begins with development of governancestructure and project approval. Then we move to planning were project plan is preparedIn the execution stage, status reports are prepared and issue logs, risk registered and lessonslearned logs are updated by project manager
Project Management Methodology- Assignment_1

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Project Management Assignment : Woolworth
|17
|4502
|30

Project Management : Assignment Solved
|17
|3145
|30

Regulatory Performance Framework (RPF) Assignment
|10
|3772
|100

Agile Project Management
|13
|2668
|82

Report on Evidence of Planning of the Project
|20
|4630
|328

PRINCE2 Project Methodology Application
|7
|1302
|272