Network Project Management Part B Report: FedPM CoP Analysis

This report, focusing on Network Project Management Part B, explores the Federal Project Management Community of Practice (FedPM CoP) as a framework for project execution and improvement. It highlights the benefits of a system-based approach and the role of infrastructure and financial assistance. The report also discusses the importance of cross-cutting processes and the need to manage costs and time effectively. It outlines the specific outcomes of CoP, such as harnessing interest, sharing knowledge, and broadening networks. The report further examines the ethical considerations within project management, including the role of PMIAA and the importance of quantifiable benefits and governance. References to relevant literature and project management guides are included to support the analysis.

3/28/2020
Network Project Management
Part B
Student name

Table of Contents
Federal Project Management CoP(FedPM CoP)....................................................................................1
Running a successful CoP.......................................................................................................................1
Ethical issues.........................................................................................................................................1
References.............................................................................................................................................1

Federal Project Management CoP (FedPM CoP)
The Federal Project Management Community of Practice (FedPM CoP) is the best framework
to plan and execute various things. In addition, there are many good ways to improve the execution
of a project. There are many benefits of a system-based approach to complete a project in successful
condition [1]. Besides, FedPM CoP has provided basic processes to manage different operations of a
project in a proper manner. Infrastructure is a basic need of a project to develop and execute various
processes. In addition, this framework is an integrated version of different things. Moreover, this is
the part of a compete project management methodology in which information technology has used
for managing project works [2]. Moreover, it has included financial assistant for supporting budget
problem. In addition, capital assists have used for managing internal processes in the whole project.
Most of the things are based on the capital assets of an organization. Besides, cross-Cutting is
necessary to improve the results of the project [3]. There are some processes in the project, which
has increased cost and time of the project. Thus, it is necessary to increase the performance and
decrease the cost of the project as well.
Moreover, there are many benefits of this framework, which are suitable for the companies.
In addition, most of the firms have required security in the execution of the project using market
research and other things [4]. CoP has successfully established in the market. There are some
specific outcomes of CoP, which areas:
 Harnessing interest and shared passion;
 Sharing learning and knowledge, formally and informally;
 Broadening of personal, professional, and interagency networks;
 Potential maturation of processes and increased organizational agility;
 Deepening engagement of community members.
All are important outcomes of the community systems. In addition, there are number of
members in the group with thousand of professionals. It is a huge group now a days. However, most
of the organization has used this approach to manage their networking events as well. Moreover,
CoP is providing benefits too their members in different terms, which are important from various
point of view [5].

Running a successful CoP
There are many things to take maximum benefits from the Fed PM CoP, which are suitable
for the companies as well. It is a basic need of an organization to manage their social networks [6]. In
addition, the Program Management Improvement and Accountability Act (PMIAA) has supported
various things. In addition, there are many benefits of PMIAA in the CoP development. It has
included various basic processes. Most of the people have affected from it, as there are many
changes in the basic need of the people as well [6].
Moreover, there are many benefits of CoP to develop a good relationship in the industries. It
is a combination of different things, which are necessary for development of a firm. In addition,
there are some basic features of CoP, which should adopt by a firm as well. It is the basic need of a
system to manage all the things in a better way.
Furthermore, it can be better solution for managing project at a high level. Moreover, there
are many better option of project management including this approach. Mostly, organizations have
adopted this framework for improving their market status as well. Most of the things can be
managed using standards in better way. However, there are many benefits of the Fed PM CoP, which
makes it more popular in the industry as well.
Ethical issues
Ethical issues can be solved using various things, which are important for a system as well. at
some point of public comment on PMIAA implementation, the FedPM CoP facilitated the gathering,
collation, and submittal of member comments. Besides, it is also vital that police officers’ power
some form of price or blessings. blessings are also important in acquiring and sustaining govt
sponsorship [8]. Most of the framework has used for managing all the things.
Any new capability without honestly identified and agreed blessings is frequently regarded
handiest with the aid of its fee. in view that meaningful and lasting aid is generally financial,
blessings must be described in economic terms as properly. The final results of stepped forward
OPM overall performance ties at once to the value contribution [9]. Besides, inclusive of
quantifiable improvements in task or program overall performance that may be attributed to
something won via participating in or suggestions made via a CoP offer a degree of fulfilment [10].
From a governance perspective, the recommendation those operating institution practitioners may
want to provide policymakers could be tremendously valuable as well [10].

Furthermore, a firm can take competitive advantages using this approach as investors have
considered such types of things in their planning. Thus, it can be beneficial for the company as well
as their shareholders. Moreover, networking can be more strong using this approach as well.

References
[1] E. Karaman and M. Kurt, " Comparison of project management methodologies: prince 2 versus
PMBOK for it projects," International Journal of Applied Science and Engineering Research, vol.
4, no. 4, pp. 572-579, 2015.
[2] R. K. Wysocki, Effective project management: traditional, agile, extreme., 1st ed., London: John
Wiley & Sons, 2011.
[3] PMI, A guide to the project management body of knowledge (PMBOK guide), 5th ed.,
Newtown Square, PA: PMI, 2013.
[4] PMI, A guide to the project management body of knowledge (PMBOK guide), Newtown Square,
PA: PMI, 2017.
[5] E. C. Conforto and D. C. Amaral, "Agile project management and stage-gate model—A hybrid
framework for technology-based companies," Journal of Engineering and Technology
Management, pp. 1-14, 2016.
[6] R. K. Wysocki, Effective project management: Traditional, agile, extreme, 7th ed., Indianapolis,
IN: Wiley, 2014.
[7] . J. T. Marchewka, Information technology project management, 5 ed., New York: John Wiley &
Sons, 2014.
[8] A. Taylor, "PROJECT MANAGEMENT AT ROCHE," 2018. [Online]. Available:
https://rocheav.co.uk/newsfeed/project-management-at-roche/. [Accessed 15 February 2020].
[9] . L. Raymond and F. Bergeron, "Project management information systems: An empirical study
of their impact on project managers and project success.," International Journal of Project
Management, vol. 26, no. 2, pp. 213-220, 2008.
[10] O. Mafimisebi, Project management practice: lessons learned from project failures in Nigeria,
2016.

[11] H. Kerzner, Project management: a systems approach to planning, scheduling, and controlling,
1st ed., London: John Wiley & Sons, 2017.
[12] M. C. Caniëls and R. J. Bakens, "The effects of Project Management Information Systems on
decision making in a multi project environment," International journal of project management,
vol. 30, no. 2, pp. 162-175, 2012.
[13] Laureate-Education, Director, The practice of project management. [Film]. 2013.
The main support of part A for Part B is providing issues with the framework as well as other
knowledge that has covered in the executive summary another parts. In addition, it has suggested
about the framework and its benefits as well.