Importance of Project Management: Tips for Successful Project Completion

This article discusses the importance of project management and provides tips for successful project completion. It covers topics such as team collaboration, approval, record keeping, risk management, project deliverables, staff transition, sign-offs, and project review. The article also emphasizes the significance of staff support, clear job descriptions, and stakeholder communication. References from various project management experts are included.

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PART A
1. It is important to take into account the views and opinions of the team members as everyone
comes up with unique ideas and suggestions. Every team member can put in their insights and
contribute to a better project (Marchewka 2014).
2. Approval is necessary, as there might be some changes during the process. Approval is just as
valuable as the effort that goes into making a project. It is during the approval of a project that
many imperfections or limitations become visible (Larson et al 2014).
3. A team is a group of people who work together to achieve a common goal towards. However,
each team member has a specific task to fulfill. Each member has a given portfolio. This saves
time and effort (Burke 2013). Everyone should be clear about his or her roles and the respective
work they have been entrusted with.
4. It is important for the team leader to support the team and motivate them in their work. The
team members will look up to the team leader for positivity and mental upliftment. Hence, it is
up to the team leader to be there for all the members of his team and help in reducing stress. He
should focus on building a healthy and happy work environment.
5. Record keeping in business is of utmost importance. It helps in filling taxes ,make financial
statements, detect the progress of the business, keep the track of deductible expenses and prepare
tax returns (Kerzner 2017).
6. Project expenditure reports of the cost, expenditure, revenues and invoices of items used for
the project. It is important to keep a track of the funding of the project sonthat it does not reach
to the point where it no longer can be funded (Marchewka 2014).

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7. Giving copies of reports to project stakeholders is a way of keeping them updated and
informed about the various developments in the project. One can inform the stakeholders about
the status of the project by various ways (Burke 2013). It is important to communicate with the
stakeholders from time to time. It is also important to listen to their opinions and revert to their
concerns.
8. Risk management is of vital importance for the growth of a company as it helps in identifying
various strengths, weaknesses, threats and opportunities of the project. Thus, planning, preparing
and evaluating with strategic risk management can save time and energy (Kerzner 2017).
9. Project deliverables are of different types and are also one of the biggest risk factors when it
comes to the success or failure of a specific project. The deliverable should be clear to everyone
in the team.
10. It is of vital importance to keep records for accuracy of accounts. Records are a proof or
evidence of the income, revenues and other financial statements (Larson et al 2014). If there is
any problem later then the team can go back to the records and check for the accuracy of details.
11. Post-project staff transition is important as after the completion of a project it is important to
transfer them to another project.
12. Sign-offs are important as it helps in understanding the requirements of the project. When a
member of the team signs off it only means that he or she is well versed with the objectives of
the project.

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13. After the completion of the project it is important to go through everything carefully and
scrutinize every document (Kerzner 2017). Reviewing every minute detail of the project is
important as there might be some flaws or the team might have overlooked some important
detail.
14. Getting the project reviewed by each and every team member is of utmost importance as
someone might have overlooked some important detail that might catch somebody else’s eyes.
Every individual can give a better suggestions, check flaws in the project or implement some last
minute ideas.
15. Documenting the lessons learned while creating a project is very helpful as one can later
take guidance and ideas from the same. It can also help in not repeating one’s mistakes again.
PART B :
a. The project can be monitored by communicating in advance with all the team members and
stakeholders. One should also identify the indicators that are to be measured. There should be a
proper system of reporting and communicating within the members of the team. The quality of
data that is collected should also be relevant (Kerzner 2017). In order to monitor the project it is
important to assign someone to monitor it effectively. Monitoring effectively is important as this
will help in future funding, accountability, financial statements and other important aspects.
b. For assigning staff roles it is important to go through their qualifications and analyze their
strengths and weaknesses. Then allocate specific tasks to them based on their previous
experiences and skill sets (Larson et al 2014). Other than entrusting them with tasks it is equally
important to provide them with a clear and to the point job description. A job description will

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give them enough clarity for them to understand what is their job role and what they are expected
to do.
c. The staffs should be supported mentally and emotionally. It is important that the staff feels that
the team lead is approachable so that they can approach him or her with any queries or problems
they might face (Turner 2014). It is important to establish a honest, transparent and loyal
relationship with the staffs. The team lead should have enough compassion and empathy for his
or her staff.
d. There are many deliverables that can be considered while doing a project. Mainly a project
deliverable is either tangible or intangible. When a project deliverable is met it means a goal has
been completed.
e. A project is finalized only when it has been approved by the sponsor and the stakeholders.
Acknowledgement from all the team members is also necessary. Signatures on official
documents is one of the vital steps while finalizing a project (Heagney 2016).
f. Records of financial statements, taxes, contracts, document are to be kept after the completion
of the project.
g. Staffs after the completion of the project are often assigned to new projects or they are
allocated to tasks that fall under their specialization (Burke 2013).
h. Once I see that all the outcomes have been met by the project then I need to sign off some
important documents to close the project.

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i. A review is conducted by doing a gap analysis, taking the opinions and views of the
stakeholders, taking suggestions of the team members (Turner 2014).
j. For reviewing outcomes, staff feedback is taken. Also recommendations from the stakeholders
are given due importance (Turner 2014).
k. The success of the project depends upon the quality of the project, the meeting of the deadline,
the satisfaction of the stakeholders and the performance of the project to business case.
l. For keeping a record of the lessons learned one should prepare a report on everything that has
been learnt while developing the project (Heagney 2016). A database should be created to keep a
record of the lessons learnt.

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References:
Burke, R., 2013. Project management: planning and control techniques. New Jersey, USA.
Heagney, J., 2016. Fundamentals of project management. Amacom.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Larson, E.W., Gray, C.F., Danlin, U., Honig, B. and Bacarini, D., 2014. Project management:
The managerial process (Vol. 6). Grandview Heights, OH: McGraw-Hill Education.
Marchewka, J.T., 2014. Information technology project management. John Wiley & Sons.
Turner, J.R., 2014. Handbook of project-based management(Vol. 92). New York, NY: McGraw-
hill.