Organizational Resources, Budget, and Project Management Tools for Defining Project Parameters

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Project Management

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1. Organizational Resources Useful For Defining Project Parameter
Choosing the right project is one of the hidden challenges or any business organisation.
Projects are to be chosen in a way, which would not only bring success to the enterprise but
would ensure the achievement of broader goals and push the organisation forward towards
greater possibilities. Identifying the parameters for success is one of the crucial thing which is
to be decided up front and the organisational resources which can be helpful in this case are
time and the budget that can be allotted (Kerzner and Kerzner, 2017).
2. The Ways Budget Can Define Project Parameter
The budget of the project is most of the time decided by the project managers or someone
who works in the financial department of the company. Irrespective of whoever decides the
project budget it is very important for the person who is handling the project to ensure that
the budget is not spent in excess and the income remains in sync with the plan (Meredith and
Mantel, 2011). It is to be ensured that that phasing of income and expenditure is achieved in a
successful manner so that there remains enough money for the project requirements . this is
how budget helps in defining the project parameters.
3. Questions That Arise For Persons Managing Projects
There are several queries or considerations, which comes to the mind of the persons who are
responsible for undertaking any part of the project. The major questions that arises for the
person responsible for any project while identifying the extent to their task or responsibility
are what is maximum amount of time that he can get to finish the task allotted to him. This
helps him utilising the available time in the best possible manner. The next questions that
arises here is what amount of resources can he employ to complete his task.
4. Importance of Aligning Organizational Objectives and Relationship of Projects to
Other Projects
The project managers has the crucial responsibility for initiating, designing, planning,
executing, monitoring and controlling the overall operations related to a project. While
executing ay project it is very important for the project manager to take into consideration the
organisational objectives as this would help him to achieve the long term goals of the
organisation