Project Management Principals

This document discusses the importance of system thinking, system thinking tools, evaluation of system thinking in project management, system engineering concepts, selecting appropriate project management applications, project management application system for decision making, advantages and disadvantages of manual and electronic project portfolio management, monitoring and evaluating project performance, project management application for different industries, and contemporary development of project and portfolio management.

Running head: PROJECT MANAGEMENT PRINCIPALS
PROJECT MANAGEMENT PRINCIPALS
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Introduction and summary of outcomes
For the proper management of the project and the process the project and the portfolio
management is important. In this context, it can be said that the indulgent of the system
thinking and process management are needed to be developed in a proper way. The outcome
of the processes are needed to be monitored by the project manager. Apart from that there is a
chance that the failure of the project may happen in case if the system process and the
planning is not maintained in a proper way. The main objective of this paper is to identify
different aspects of the project management.
Itemise each learning outcome
a) LO1: Relevance of system thinking to project management
i. Summary
System thinking is important for the development of the project. In this context, the
process has described as the closed system open system and extended system. System
thinking will help the project managers to identify the complexity of the projects in the
organization. Apart from that the analysis of the identified problems can be done through the
application of the system thinking. Apart from that system thinking approach is defined by
the integrative approach that will help the project to meet all the desired requirements.
ii. Evidence
It has been seen with the help of system thinking, there is a chance that the further
improvement of the quality of the project can be achieved. Apart from that the analysis and
the identification of the problems can be done through the proper implementation of system
thinking method.
b) LO2: Identification of different system thinking tools for the project managers

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i. Summary
The system thinking tool is relevant for the proper development of the project. System
thinking tools are helpful for the management of the complex system in the projects like
DeepWater Horizon. It has been seen that with the help of the system thinking tool the
development of the risks management strategy can be applied.
ii. Evidence
It has been seen that the system thinking tools can help the project and portfolio
mangers for the development of the project. The portfolio managers will be helpful for the
proper development of the project. It has been seen that with the help of the system
management tools the complexity of the project can be normalized. Apart from that through
the implementation of the system thinking tool the selection of the right project methodology
can be implemented.
c) LO3: Evaluation of the relevance of the system thinking in the project management.
i. Summary
It has been seen that the system engineering is dependent on the system of system,
service system and the product system. The main objective of the application of the system
engineering is to deliver the project that will able to deliver the right and the proper outcome.
ii. Evidence
It has been seen that the without the proper implementation of the system engineering,
there is a chance of the failure of the project. In this context, the example of the DeepWater
Horizon can be given. It has been seen that the failure of the project in DeepWater Horizon
has been initiated for the lack of system thinking in the organization.

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d) LO4: System engineering concepts to help the project managers to compile project
and portfolio management.
i. Summary
There is a difference between system engineering concepts and the methodologies. It
has been seen that the methodologies will help the project managers to implement the process
for the compilation of the project. On the other hand the system engineering concepts will
help the project manager to think about the technical aspects of the business procedure.
ii. Evidence
In the context of the system engineering, two terms can be discussed- taxonomy and
axiom. These two terms are important for defining the system engineering and the
management. The taxonomy will define the classification of the different functionalities. On
the other hand the axiom will define the proven statement for the organization. The
application of these two terms are important for the development of the project.
e) LO5: Importance of selecting the appropriate project management applications in
order to meet all the internal and external objectives of the project management.
i. Summary
It is important to select the right project management application for the proper
development of the project. It has been seen that the right project management application
will help to implement the functionalities in a proper way. Apart from that, it has been seen
with the selection of the proper project management methodologies, the generation of the
proper outcome can be achieved.
ii. Evidence

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It has been seen that for the BP DeepWater Horizon case, proper project management
tools and the applications were not used. This has caused the failure of the project. Apart
from that for the lack of the proper project management tool there was lack of
communication in the project. It can be said from the discussion that with the proper use of
the project management methodology the compilation of the project can be done in a proper
way. Apart from that there is a chance that all the functionalities and the processes of the
organization can be implemented in a proper way.
f) LO6: Use of the project management application system for gaining the knowledge
and the decision making of the project management..
i. Summary
It has been seen that with the roper project management application system the
decision making process for the project can be improved. There are certain attributes and the
rules in the project management application system those can be helpful for the proper
management of the projects. Each of the stages in the project development lifecycle is
needed to be monitored in a proper way so the delivery of the outcome for each step can meet
all the requirements. Apart from that for the progress of the project is also dependent on the
right decision making process. The decision making process is dependent on the project
managers in the organization.
ii. Evidence
It has been seen that the success of the project varies for the different cases. The
project manager has to make the decision regarding the development of the project. The
selection of the right project management application is dependent of the decision making
ability of the project manager and the perception of the project manager. It has been seen if

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the project manager is capable of the right decision making, there is a chance that the
selection of the project application is suitable for the development of the project.
g) LO7: Comparison of the advantages and the disadvantages of manual and the
electronic project portfolio management for the project managers.
i. Summary
At present the application of the electronic program and the portfolio applications are
used extensively. There are certain advantages of using the electronic program and portfolio
application is for keeping the track of the processes and the projects. The main advantage of
using the electronic medium is that the storing and the accessing of the data can be done
effortlessly through the electronic medium. Apart from that the data and the information can
become manageable through the implementation of this system. However, there are certain
issues regarding the use of the electronic medium. The accessing of the digital data needs the
expert handling. Apart from that the project manager has to be aware about the proper use of
the electronic program and portfolio management. Another issue regarding this system is the
security issues. This electronic system is needed to be kept secured so that the data and the
information can be stored in a proper way.
In the manual tracking of the project and portfolio management, it has been seen that
the keeping of the records in a proper way can become problematic for the project managers.
Apart from that it has been seen that there is a chance of the manual error in the system.
However, one of the advantage of the manual record keeping system is that this process is
cost effective.
ii. Evidence
It has been seen that due to the flexible and the effective nature of the process, most of
the project managers are preferring the use of the electronic record keeping system for the

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development of the project. Apart from that there are certain things those can be managed in
a proper way through the implementation of the electronic record keeping system. The
service regarding this is offered by different IT organization. It is the responsibility of the
project manager to select the right portfolio management record keeping system.
h) LO8: The project management application that will help the project manager to
monitor and evaluate the performance of the project.
i. Summary
Project management application system helps the project managers to monitor the
development of the project. Through the use of the project management application the
progress of the project can be tracked in a proper way. Apart from that. The identification of
the risks and the opportunities of the project can be done through the application of the
project management application system. Through the usage of these system, the project
manger can understand the current requirements of the project and the resources needed for
the proper development.
ii. Evidence
It has been seen that for the implementation of the project in a proper way, there is a
need for continuous monitoring. This monitoring is done through the use of the project
management application. The lack of the project management application can lead to the
failure of the project. In this context, the mention of the project failure regarding the
DeepWater Horizon can be mentioned. It has been seen that due to the lack of the project
management application and the lack of proper monitoring, the gap in the communication
was not noticed in a proper way and eventually led to the failure of the project.
i) LO9: Project management application that supports the proper execution of the
project in the different industry.

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i. Summary
Thee project management applications helps the proper execution of the project. The
selection of the proper project management application is dependent on the requirement and
the type of the project. In this context, it can be said that different project management
applications are responsible for the implementation of the different functionalities. As for
example the agile methodology is suitable for the development of the software projects. On
the other hand the application of the PRINCE2 methodology is suitable for the construction
project.
ii. Evidence
It has been seen that all the project management applications can be mapped on the
five stages of the project life cycle described in the project management body of knowledge.
The project application can able to monitor the analysis of the requirements for the project.
The analysis of the requirements will help to mitigate the possible chances of the project
scope creep. On the other hand the execution of the project is done on the basis of the
requirement documentation and the planning of the project. The project manager can use the
project application tool for the development of the monitoring and the execution of the
project. The execution of the project is dependent on maintaining the certain factors. In this
context, proper feedback can be generated for the further improvisation and the modification
of the project.
j) LO10: Contemporary development of the project and portfolio management.
i. Summary
There are certain development those are implemented in the era of the digitization. It
has been seen these contemporary development has increased the efficiency of the project
management. Apart from that , with the implementation of the proper project management

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factors and the application has the accuracy for the compilation of the project can be
achieved. In this context, the use of the system thinking and engineering tools can be
mentioned. Apart from that it has been seen that use of the online project management
application tool will be beneficial for the proper monitoring of the project.
However, there are certain problems regarding the development of the project using
the recent developed tools. One of the problem regarding this context is the security issues.
There is a chance that the data and information can be breached through the application of the
system. Apart from that the technical experts are needed for the development and the
application of the advanced and modified technology.
ii. Evidence
It has been seen that the use of the advanced and the electronic medium of managing
the project can bring accuracy in the project. On the other hand the use of the manual process
in the development of the project, there is a chance for the human error for the development
of the project. In this context, it can be said that the use of the advanced methods for the
development of the project is more relevant in this context.
Discussion and conclusion
The discussion is regarding the use of the different components in the development of
the project. In this context, the use of the system thinking tools and the advantages of using
the system thinking tolls has been described. It can be said that the use of the system thinking
tolls in the management of the project can be done through the following of the SEBoK.
Apart from that it is important for the project managers to implement the project management
methodologies for the proper development of the project. There is a need for the proper
monitoring and the evaluation of the project. In this context, the project management
application can be used. There are many project management application tools those are

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helpful for the monitoring process. It can be said that the use of the electronic application for
the project monitoring system is useful for the proper monitoring of the project.
Apart from that there are some responsibilities of the project managers for the proper
development of the project. Apart from that the perception and the experience of the project
manager also plays the significant role for the proper development of the project.

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Appendix of the Weeks