Business Project: Application of Project Management Concepts Report

This report provides an overview of project management concepts and their application in a business context. It emphasizes the importance of project management for achieving project success, covering key areas such as integration, scope, time, cost, quality, human resources, risk manageme...Read More

Report

Contents
Introduction......................................................................................................................................1
Project Management concepts could be applied to your project.....................................................1
Conclusion.......................................................................................................................................3
References........................................................................................................................................4

Introduction
The project management is the best application for the knowledge, tools, skills and the
techniques where the project activities are able to meet the requirements. One can work over the
development of organisation as we have done to out project and applied the concepts to achieve
the project success. With project management, there is a need to focus on the integration, scope,
time, cost, quality and the procurement, human resource as well as handling the risks and
stakeholder management (Anatatmula et al., 2016). The project management is mainly to achieve
and control the start and finish date as well.
Project Management concepts could be applied to your
project
To work on the project success, our team has worked towards handling the process groups and
knowledge areas. It included the initiation, planning, execution, monitoring, controlling and
closing the work in the organisation. The work in the entire semester has also been focusing over
the knowledge areas where the integration and the time, cost and quality are important
highlights. Through the different research, we have been able to manage with resources, project
review meetings with the teachers so that any issues could be clarified and rectified at an early
stage only. This will help in improving and thinking in a practical manner. The monitoring of
compliance with organisational processes and providing the templates have been also important
as the project is able to control the board with managing the monetary assets, stakeholders and
the utility factors (Cicmil et al., 2017). The stakeholders in the project are the teachers, family,
friends, department, who has helped in achieving success.

The project objectives for the entire work has always been clear where there are also detailed
explanations about how the risks management, stakeholder management, quality and scope
management be implemented. A change to a constraint could have impact on the constraints of
the project. Hence, the changes are mainly due to the competing demands where one needs to
handle the requests and the processes to evaluate and work over the identification with major
impacts (Fleming et al., 2016). The organisation works over stakeholders like the sponsors, team
members who work on centralising the management of project. This also includes the viability
with raising an alert about the occurrence of the cost overrun. The PM has been effective to
match with the leadership skills and work on the technical space and leverage for the project
success. The right technology and ability to stay ahead with the new technologies is important in
the organisation and to achieve better marks in the project, over the semester. Hence, for this, it
is important to coordinate with the team over the strengths and weakness with viewing the jobs at
the overall bottom line and driving the individual project managers as well.
For working towards the improvement in the project, the project manager skills are important
where there will be successful planning and execution of the project. This includes the
involvement of product in the different organisation. The prime responsibilities of the project
manager are to work on monitoring and working over the success or failure. This will help in
minimising the risks and ensuring that all the members of the team are able to express the
opinion and their concerns (Jaber, 2016). The project management software like Microsoft
Project and Open Workbench are able to manage the tasks and resources which allows oneself to
produce the charts and reports. This will help in organising and working over producing the
charts, which otherwise would have taken a long time.

The planning is done to organise the staff and the tasks where the schedule is to monitor the
progress and match the scope of work. Here, the activities also include the resources, scheduled
forms and the periodic times which leads to the proper projected outcomes (Kerzner, 2017). The
large and complete projects direct the work of others who are involved in the detailed
scheduling. Along with this, the principles and the processes are for the development of project
with legislative and regulatory frameworks. It is mainly to understand how the communication
could be done effectively so that one can impress the person with his words.
In our work, our teacher has been happy with the project management that has been done. We
used to work over meeting agendas, updating them regularly, and maintaining the status reports.
This helped us in working in a systematic manner as well (Lientz, & Rea, 2016). The
effectiveness could be mapped through the emails. It has been seen that the good manager at
work could always come up with better ideas and can complete the work before time, without
any imposing views on subordinates.
There have been certain ups and downs among the group members as different people have
different ideas. Initially, it was tough to suffice to one thought, but eventually we decided to
practically think about how the project management could be done through it, and we could
easily get the solution. The diversity is important but working together and thinking about the
project output is also important. The team members need to manage the differences with the
involvement of external resources like the teachers, materials or advice from people. This will
help in improving the standards of thought and bring the change in original thinking as well.

Conclusion
For the implementation of change, the active based costing is important for the organisation. This
will help in achieving the profits with making deficiencies (Turner, 2016). The risks like
department can stand an opportunity for the management could have illustrations of the activity
based costing and success. The core team forms are about the responsibility to identify and
assess the activities to optimise the products and services.

References
Anantatmula, V.S. and Webb, J.B., 2016. Critical chain method in traditional project and portfolio
management situations. In Project Management: Concepts, Methodologies, Tools, and Applications (pp.
1005-1022). IGI Global.
Cicmil, S., Cooke-Davies, T., Crawford, L. and Richardson, K., 2017, April. Exploring the complexity of
projects: Implications of complexity theory for project management practice. Project Management
Institute.
Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management. Project
Management Institute.
Jaber, M.Y. ed., 2016. Learning curves: Theory, models, and applications. CRC Press.
Kerzner, H., 2017. Project management metrics, KPIs, and dashboards: a guide to measuring and
monitoring project performance. John Wiley & Sons.
Lientz, B. and Rea, K., 2016. Breakthrough technology project management. Routledge.
Turner, R., 2016. Gower handbook of project management. Routledge.