Applying Project Management Standards and Frameworks Report Analysis

This report delves into the application of project management standards and frameworks, with a focus on the Project Management Body of Knowledge (PMBOK). It explores the significance of project management frameworks and their relevance to various business contexts. The report examines how project managers can leverage these frameworks, highlighting the importance of understanding the knowledge areas outlined in PMBOK. Furthermore, it discusses the impact of project management maturity on commercial negotiation processes, emphasizing the influence of organizational factors such as tenure and size. The report also introduces the concept of a PraXitioner, emphasizing the integration of practical wisdom in project management. It suggests the use of the KSAE delivery approach to address future shortages in commercial negotiation, advocating for a small group or one-on-one mentoring approach. Finally, the report concludes by recommending the use of the RBP framework for commercial project negotiation, providing a comprehensive overview of project management practices and their implications.

Surname Applying Project Management Standards and Frameworks
Applying Project Management Standards and Frameworks
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Surname Applying Project Management Standards and Frameworks
Applying Project Management Standards and Frameworks
PMI competency framework or project management framework encompasses the
structure that project managers use to understand project management. The project managers
can use various frameworks relevant to the projects (Walker & Lloyd-Walker 2015). For
instance, businesses have leveraged different frameworks relevant to departmental units.
Importantly, each framework has strengths and weaknesses but serves the needs of projects
based on the resources available. PMBoK has identified the basic knowledge arrears which
project management needs to understand (Walker & Lloyd-Walker 2015). The project
management and frameworks can help the managers to categorize the expertise needed for
the completion of the project. Therefore, the project management framework is essential in
identifying and bridging the KSAE gaps.
The project management maturity can influence the commercial negotiation.
Interestingly, the way that supplier and procurer are perceived can affect the operations of an
organization. In the process of maturity, the tenure, stability, and size of an organization
influence the contract negotiation process (Walker & Lloyd-Walker 2015, p. 137). In the firm
with low project management maturity, it is possible for the organization to change thus
making it agile. Nonetheless, aiding the procuring company enhances the negotiation process
thus making the company to identify a less expensive supplier. In this case, the negotiation
process becomes informal. The investigation of Walker and Lloyd-Walker (2015) provide
important information regarding the gaps that project stakeholders should identify and bridge
thus create a collaborative arrangement thus making the conclusion reasonable.
Given the significance of a PraXitioners, I believe it is the way forward. The
PraXitioner involves the practice and practical wisdom in managing projects (Bredillet 2016;
Walker & Lloyd-Walker 2015). I believe that it has helped me become a PraXitioner. Based
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Surname Applying Project Management Standards and Frameworks
on Walker and Lloyd-Walker’s findings, the PraXitioner faces a future shortage in
commercial negotiation situations. To this effect, the KSAE delivery approach needs to be
used as it involves the use of small group or one-on-one approach to mentor and coaches
them. This will make the outcomes influenced by governance and probity. Therefore, RBP is
the best commercial project negotiation framework.
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Surname Applying Project Management Standards and Frameworks
Bibliography
Bredillet, C 2016, “Idiosyncratic musings on studying cases”, Project Management Research
and Practice, vol. 3, p. 5127.
Walker, DHT & Lloyd-Walker, BM 2015, Collaborative project procurement arrangements.
PMI, Newton, Pennsylvanian.
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