Project Fundamentals 1: Project Management, Integration, and Scope
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This report, prepared for a project management fundamentals assignment, delves into various methodologies, including PRINCE2, and PMBOK, comparing their advantages and disadvantages. It examines project integration, emphasizing the importance of coordinating processes and managing stakeholder expectations. The report also discusses scope management, outlining processes for defining, controlling, and collecting project requirements through techniques like interviews, focus groups, facilitated workshops, brainstorming, and nominal group techniques. The analysis highlights the benefits of integration and scope management in ensuring successful project completion, addressing potential challenges, and achieving project goals efficiently. The assignment also covers advantages and disadvantages of project management in general and discusses how combining different project management models can be beneficial. The report concludes by emphasizing the importance of well-defined scope and effective communication in project success.

Assignment 1 - Project Fundamentals
1 Introduction
The projects becomes successful in different ways. The best and the most famous methodologies,
frameworks, and methods in project management always keeps on changing. There are many new
concepts that keeps on changing from time to time. The method strings, tools as well as techniques
are included behind a successful project management.
The methodologies of project management is one of the best decisions that are to be made by a
project manager to complete a project successfully (Kilibarda et al. 2016). Various methodologies of
project management thata re to be made by project manager and those have many advantages and
disadvantages included in different types of projects.
The methodologies of project management have different features, some of them geared for speed,
and some opt for comprehensiveness. There are different methodologies of project management that
has tool agnostic and the project manager should use the methodology irrespective of the project
management tool that are to be used. This paper includes some of the details of project management
that includes cost management and time management for a project.
2 Body
2.1 Part A - Compare Project Management Methodologies
1. The advantages of project management is to manage the projects effectively that enables in
resolving the problems much faster than other management software. Changing a project requires
excess time as well as money that manages a project. The advantages of project management for
delivering a project is given below:
Project management helps to improve the chances to achieve the desired result.
It helps to gain fresh perspective of the project that is to be delivered and the way the project
fits to business strategy. This also fulfills customer satisfaction.
Project management provides priority to the resource of the business and then ensure using
the resource efficiently.
Project management also helps to set scope, schedule the budget properly from starting of
the project.
It also helps to stay on the processes as per schedule and maintain the budget of the
resources and the cost that are fixed in the project charter.
Helps to improve the productivity of the work and improves the quality of the work that is done
by project management.
Project management encourages communications amongst the suppliers, clients, and staffs
and helps to satisfy the requirements of project stakeholders.
The disadvantages that the project management provides are listed below:
The software of project management is very costly and it is difficult for a company to deliver a
project using project management.
The managers of the project needs to know to handle the key feature of the program and they
should know the way to handle complex projects.
The present versions of solutions of project management provides access to many users.
This enables sharing of data in a much easy way.
2. VocaLink is an organization that implements faster payment service to the people of UK. The
payroll of UK is done through the system of VocaLink that uses the strategy of PRINCE2 for
maintaining all its activities. For delivering its project successfully, the organization uses PRINCE2
model, which makes the project robust. PRINCE2 is capable of handling large projects as well as
small projects compared to other methodologies of project management. Therefore, VocaLink has
decided to use PRINCE2 to manage its project. PRINCE2 methodology of project management uses
7themes, 7 principles, and 7 processes for ensuring the visibility of the project (Crawford 2014). The
advantages that are provided by PRINCE2 project methodology to the project of VocaLink compared
to other project management methodologies are: with PRINCE2 project methodology, the outcome of
the project is predictable as it follows systematic process. PRINCE2 also delivers best quality of
project that was agreed on the conception. The best way that helps to realise the best practice is
PRINCE2 methodology. PRINCE2 methodology provides project that is cost effective and time
effective. PRINCE2 methodology provides detailed process of the models as well as templates that
are not provided by any other methodologies. PRINCE2 methodology provides guidance about the
way to organize the project and the way to run a project.
[student name]
1 Introduction
The projects becomes successful in different ways. The best and the most famous methodologies,
frameworks, and methods in project management always keeps on changing. There are many new
concepts that keeps on changing from time to time. The method strings, tools as well as techniques
are included behind a successful project management.
The methodologies of project management is one of the best decisions that are to be made by a
project manager to complete a project successfully (Kilibarda et al. 2016). Various methodologies of
project management thata re to be made by project manager and those have many advantages and
disadvantages included in different types of projects.
The methodologies of project management have different features, some of them geared for speed,
and some opt for comprehensiveness. There are different methodologies of project management that
has tool agnostic and the project manager should use the methodology irrespective of the project
management tool that are to be used. This paper includes some of the details of project management
that includes cost management and time management for a project.
2 Body
2.1 Part A - Compare Project Management Methodologies
1. The advantages of project management is to manage the projects effectively that enables in
resolving the problems much faster than other management software. Changing a project requires
excess time as well as money that manages a project. The advantages of project management for
delivering a project is given below:
Project management helps to improve the chances to achieve the desired result.
It helps to gain fresh perspective of the project that is to be delivered and the way the project
fits to business strategy. This also fulfills customer satisfaction.
Project management provides priority to the resource of the business and then ensure using
the resource efficiently.
Project management also helps to set scope, schedule the budget properly from starting of
the project.
It also helps to stay on the processes as per schedule and maintain the budget of the
resources and the cost that are fixed in the project charter.
Helps to improve the productivity of the work and improves the quality of the work that is done
by project management.
Project management encourages communications amongst the suppliers, clients, and staffs
and helps to satisfy the requirements of project stakeholders.
The disadvantages that the project management provides are listed below:
The software of project management is very costly and it is difficult for a company to deliver a
project using project management.
The managers of the project needs to know to handle the key feature of the program and they
should know the way to handle complex projects.
The present versions of solutions of project management provides access to many users.
This enables sharing of data in a much easy way.
2. VocaLink is an organization that implements faster payment service to the people of UK. The
payroll of UK is done through the system of VocaLink that uses the strategy of PRINCE2 for
maintaining all its activities. For delivering its project successfully, the organization uses PRINCE2
model, which makes the project robust. PRINCE2 is capable of handling large projects as well as
small projects compared to other methodologies of project management. Therefore, VocaLink has
decided to use PRINCE2 to manage its project. PRINCE2 methodology of project management uses
7themes, 7 principles, and 7 processes for ensuring the visibility of the project (Crawford 2014). The
advantages that are provided by PRINCE2 project methodology to the project of VocaLink compared
to other project management methodologies are: with PRINCE2 project methodology, the outcome of
the project is predictable as it follows systematic process. PRINCE2 also delivers best quality of
project that was agreed on the conception. The best way that helps to realise the best practice is
PRINCE2 methodology. PRINCE2 methodology provides project that is cost effective and time
effective. PRINCE2 methodology provides detailed process of the models as well as templates that
are not provided by any other methodologies. PRINCE2 methodology provides guidance about the
way to organize the project and the way to run a project.
[student name]
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Assignment 1 - Project Fundamentals
3. Combining different models of project management to fulfil a particular need is a very good way of
completing a project successfully. Many methodologies in project management provides same
features and the managers handling projects can combine those components for generating new type
of methodology and new style of methodology that emphasis many portions that are previously
exploited.
The main goal of joining different methodologies of project management helps to downplay or can
remove all the possibilities that has weak aspects in an organization. The methodology that can be
made by combining all the models of project management is known as custom methodology. The
custom made methodology helps to remove the weak aspects that are in an organization. The path
that is determined is planning the goals and the intentions of using the software type.
There are different methodologies in project management that are combined in custom made
methodology that satisfies the need of the organization. This custom made methodology is a new
style of methodology that helps to emphasize strong areas of the business. This methodology helps
the business to get to an edge of competition in the business sector. This is a new way of using all the
methodologies in a project and make a variation among the methodologies that are available in the
market.
Many common formats are available with the project managers of combining many methodologies
together. This approach of using methodologies of project management together helps to achieve a
new approach in the market and helps to save the methodology for future.
2.2 Part B - Integration and Scope Management
1. The area of project management knowledge deals with many specific place that comes under
expertise of project manager. The integration project management contains many everyday actions
that are to be planned by project manager. Project integration combines all the processes and tasks
of together.
Management of project integration coordinates with the aspects of project that ensures the project to
run smoothly. The project managers involved juggles the competing objectives, alternatives for
meeting the need of stakeholders, and activities of projects that a project contains. Using the project
management integration, the project managers co-ordinate different process of project management
and the activities that are ensured in the success of project.
Many processes are involved in integration project management. The processes in project
management integration are: developing a project charter, developing a plan of project management,
directing and managing the work of project, managing the knowledge of project management,
monitoring and controlling the project work, performing the integrated control on change management,
and closing of project or the phase that is involved in the project.
Integration of project management includes processes that are needed to ensure different elements of
project coordinated properly. Integration of project management makes trade-offs to compete with the
objectives as well as alternatives to meet the need of the stakeholder or to exceed the expectation or
need of the stakeholder.
2. Developing project scope is the starting phase of project planning process. Project scope mainly
involves creating a list of the all the components that are needed for creating a framework within a
project. The components that are to be included in the project scope is project goals, features,
functions, tasks, costs, deadlines, and deliverables.
The scope management mainly ensures the scope of the project that is defined accurately and are
mapped so that the project managers can allocate proper labour and well as to allocate proper costs
that are necessary to complete a project.
One of the difficult tasks that the project managers faces is managing the expectations of the clients
and the stakeholders associated with the objective of the project (Trendowicz and Jeffery 2014).
Defining the scope of the project helps the clients and the stakeholders to aim at a common objective
throughout the project life cycle. A project that has well defined scope helps to avoid many common
problems such as requirements that changes constantly, requirements that needs to rethink at the
middle of the project, achieving the final outcome that is actually not needed by the client, overrunning
the budget of the project and lagging behind the project schedule.
Scope management avoids all the above mentioned issues by defining the project scope clearly and
communicating the scope of the project to all the parties who are involved in project. The scope of the
project helps in distinguishing the features that are involved in the project management and the
features that are not involved in the project. Scope management helps to control the components that
are allowed in the project and components that are not allowed in the project management (Silva,
[student name]
3. Combining different models of project management to fulfil a particular need is a very good way of
completing a project successfully. Many methodologies in project management provides same
features and the managers handling projects can combine those components for generating new type
of methodology and new style of methodology that emphasis many portions that are previously
exploited.
The main goal of joining different methodologies of project management helps to downplay or can
remove all the possibilities that has weak aspects in an organization. The methodology that can be
made by combining all the models of project management is known as custom methodology. The
custom made methodology helps to remove the weak aspects that are in an organization. The path
that is determined is planning the goals and the intentions of using the software type.
There are different methodologies in project management that are combined in custom made
methodology that satisfies the need of the organization. This custom made methodology is a new
style of methodology that helps to emphasize strong areas of the business. This methodology helps
the business to get to an edge of competition in the business sector. This is a new way of using all the
methodologies in a project and make a variation among the methodologies that are available in the
market.
Many common formats are available with the project managers of combining many methodologies
together. This approach of using methodologies of project management together helps to achieve a
new approach in the market and helps to save the methodology for future.
2.2 Part B - Integration and Scope Management
1. The area of project management knowledge deals with many specific place that comes under
expertise of project manager. The integration project management contains many everyday actions
that are to be planned by project manager. Project integration combines all the processes and tasks
of together.
Management of project integration coordinates with the aspects of project that ensures the project to
run smoothly. The project managers involved juggles the competing objectives, alternatives for
meeting the need of stakeholders, and activities of projects that a project contains. Using the project
management integration, the project managers co-ordinate different process of project management
and the activities that are ensured in the success of project.
Many processes are involved in integration project management. The processes in project
management integration are: developing a project charter, developing a plan of project management,
directing and managing the work of project, managing the knowledge of project management,
monitoring and controlling the project work, performing the integrated control on change management,
and closing of project or the phase that is involved in the project.
Integration of project management includes processes that are needed to ensure different elements of
project coordinated properly. Integration of project management makes trade-offs to compete with the
objectives as well as alternatives to meet the need of the stakeholder or to exceed the expectation or
need of the stakeholder.
2. Developing project scope is the starting phase of project planning process. Project scope mainly
involves creating a list of the all the components that are needed for creating a framework within a
project. The components that are to be included in the project scope is project goals, features,
functions, tasks, costs, deadlines, and deliverables.
The scope management mainly ensures the scope of the project that is defined accurately and are
mapped so that the project managers can allocate proper labour and well as to allocate proper costs
that are necessary to complete a project.
One of the difficult tasks that the project managers faces is managing the expectations of the clients
and the stakeholders associated with the objective of the project (Trendowicz and Jeffery 2014).
Defining the scope of the project helps the clients and the stakeholders to aim at a common objective
throughout the project life cycle. A project that has well defined scope helps to avoid many common
problems such as requirements that changes constantly, requirements that needs to rethink at the
middle of the project, achieving the final outcome that is actually not needed by the client, overrunning
the budget of the project and lagging behind the project schedule.
Scope management avoids all the above mentioned issues by defining the project scope clearly and
communicating the scope of the project to all the parties who are involved in project. The scope of the
project helps in distinguishing the features that are involved in the project management and the
features that are not involved in the project. Scope management helps to control the components that
are allowed in the project and components that are not allowed in the project management (Silva,
[student name]

Assignment 1 - Project Fundamentals
Moreno and Peters 2015). The scope management mainly establishes the factors that uses the
address the elements that helps in changing the result of the lifecycle in a project.
3. The project management scope mainly includes all processes that requires ensuring successful
completion of project. The scope of project management includes work that requires in completing
project successfully. Five processes are included in the processes of scope of project management.
Many large projects are available that requires time, resources, as well as efforts for gathering the
requirements and then defining the scope of the project is very important (Conforto et al. 2014). With
the involvement of project scope, the project manager can make sure about the work that is to be
done in the project. Adding extra feature after planning the project is not allowed in a project. Scope
management includes changes that includes all the knowledge areas of the project management that
includes cost, risks, resources, customer satisfaction, and time of the project. Monitoring the project
continuously helps in determining the features and components included in project management.
With the implementation of integration project management, the project manager can execute any
type of plan that is included within the project. Integration of process is mainly important for the
managers of project who needs to schedule the tasks, buy the products, manage the outcomes, and
evaluate the resources (Marchewka 2014). Integration of project management is essential for the
project managers that helps to evaluate and makes the trade-off among the stakeholders, competing
the activities and overlapping the processes to achieve their goal successfully.
4. The tools and approaches that are used for collecting the requirements of a project includes the
following:
Interviewing: Interview is the main process of collecting requirements for a technique.
Requirements can be collected by organizing meetings, via phone calls, and even through
emails. The project managers are mainly interviews the stakeholders of the project for getting
the requirements and defining the scope of the project. There are number of ways that the
interview process can be organized (Kundra and Sharma 2015). It can be done through
checklist, preparing list of questions, or the project managers can ask the stakeholders to
express the expectation.
Focus groups: Focus groups helps to get some particular set of requirements of the
stakeholders. Meeting with the executive directors can be done with the focus groups.
Facilitated Workshops: The stakeholders included in a project have different perspectives and
all the perspectives are to be bought together. For managing a software project, the analyst,
the software developers, operation team, the customer and the test engineers are to be
bought together (Schwalbe 2015). All the group of stakeholder look at the project from
different perspective and have to express the requirements.
Brainstorming: Different people comes with different list of requirement in a project. Holding
meetings can implement ideas for generating the existing ideas. This can include new
requirements in the project.
Technique of nominal group: The technique of requirement process involved to prioritize the
ideas, which helps in generating the new requirements. In this group technique, the
participants ranks the successful ideas (Heldman 2018). This focuses on the more valuable
as well as prioritize the ideas that generates the project requirements.
5. The test that could be performed for accessing the requirements that are to be achieved is
regression testing and SPSS analysis. Regression testing is done for verifying the code change in
software that does not affect the functionality of product. The regression testing ensures that product
works accurately with functionalities that are newly added or the change that are in the existing
feature or when fixing the bug is done (Ramazani and Jergeas 2015). Regression testing is software
testing that includes test cases that are re-executed for checking the previous functionality of
application is working properly or not. Regression testing means retesting all the unchanged parts of
application.
Another test that can be performed for carrying out the test is SPSS analysis. Statistical Package for
Social Sciences is a software package that is to be created for management and the statistical
analysis for the data that are to be collected.
2.3 Part C - Time and Cost Management
1. Management of time is ability for organizing as well as planning time that is spent on the activities
that are to be performed in a day. With good time management the effectiveness is increased along
with an increased productivity (Lee 2016). Time management is one of the main aspect in project
management and includes skills like planning, prioritizing as well as setting goals for achieving a
better performance.
[student name]
Moreno and Peters 2015). The scope management mainly establishes the factors that uses the
address the elements that helps in changing the result of the lifecycle in a project.
3. The project management scope mainly includes all processes that requires ensuring successful
completion of project. The scope of project management includes work that requires in completing
project successfully. Five processes are included in the processes of scope of project management.
Many large projects are available that requires time, resources, as well as efforts for gathering the
requirements and then defining the scope of the project is very important (Conforto et al. 2014). With
the involvement of project scope, the project manager can make sure about the work that is to be
done in the project. Adding extra feature after planning the project is not allowed in a project. Scope
management includes changes that includes all the knowledge areas of the project management that
includes cost, risks, resources, customer satisfaction, and time of the project. Monitoring the project
continuously helps in determining the features and components included in project management.
With the implementation of integration project management, the project manager can execute any
type of plan that is included within the project. Integration of process is mainly important for the
managers of project who needs to schedule the tasks, buy the products, manage the outcomes, and
evaluate the resources (Marchewka 2014). Integration of project management is essential for the
project managers that helps to evaluate and makes the trade-off among the stakeholders, competing
the activities and overlapping the processes to achieve their goal successfully.
4. The tools and approaches that are used for collecting the requirements of a project includes the
following:
Interviewing: Interview is the main process of collecting requirements for a technique.
Requirements can be collected by organizing meetings, via phone calls, and even through
emails. The project managers are mainly interviews the stakeholders of the project for getting
the requirements and defining the scope of the project. There are number of ways that the
interview process can be organized (Kundra and Sharma 2015). It can be done through
checklist, preparing list of questions, or the project managers can ask the stakeholders to
express the expectation.
Focus groups: Focus groups helps to get some particular set of requirements of the
stakeholders. Meeting with the executive directors can be done with the focus groups.
Facilitated Workshops: The stakeholders included in a project have different perspectives and
all the perspectives are to be bought together. For managing a software project, the analyst,
the software developers, operation team, the customer and the test engineers are to be
bought together (Schwalbe 2015). All the group of stakeholder look at the project from
different perspective and have to express the requirements.
Brainstorming: Different people comes with different list of requirement in a project. Holding
meetings can implement ideas for generating the existing ideas. This can include new
requirements in the project.
Technique of nominal group: The technique of requirement process involved to prioritize the
ideas, which helps in generating the new requirements. In this group technique, the
participants ranks the successful ideas (Heldman 2018). This focuses on the more valuable
as well as prioritize the ideas that generates the project requirements.
5. The test that could be performed for accessing the requirements that are to be achieved is
regression testing and SPSS analysis. Regression testing is done for verifying the code change in
software that does not affect the functionality of product. The regression testing ensures that product
works accurately with functionalities that are newly added or the change that are in the existing
feature or when fixing the bug is done (Ramazani and Jergeas 2015). Regression testing is software
testing that includes test cases that are re-executed for checking the previous functionality of
application is working properly or not. Regression testing means retesting all the unchanged parts of
application.
Another test that can be performed for carrying out the test is SPSS analysis. Statistical Package for
Social Sciences is a software package that is to be created for management and the statistical
analysis for the data that are to be collected.
2.3 Part C - Time and Cost Management
1. Management of time is ability for organizing as well as planning time that is spent on the activities
that are to be performed in a day. With good time management the effectiveness is increased along
with an increased productivity (Lee 2016). Time management is one of the main aspect in project
management and includes skills like planning, prioritizing as well as setting goals for achieving a
better performance.
[student name]
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Assignment 1 - Project Fundamentals
Lacking of effective time management mainly have a negative result on the project in long run basis
(Aga, Noorderhaven and Vallejo 2016). Time is considered as three triple constraints and including
any deviation from schedule naturally effects the cost as well as scope of the project that is defined at
the beginning of the project. In most of the cases, time is considered as money (Tyssen, Wald and
Spieth 2014). With ineffective management of time, there can be increase in stress as well as
frustration in a project manager as well as in team members. Worst case scenario of ineffective time
management is burnout.
The cost management is one of the process that helps in estimating, controlling, as well as allocating
the cost of the project (Redick et al. 2014). Cost management allows business to predict the expense
that is to be faced by the project manager and thus reduces chance of going over the budget.
The projected costs are mainly calculated in the planning phase of project and is to be approved by
the stakeholders before beginning the work (Binder 2016). With the execution of project plan, the
expenses are mainly documented as well as tracked so that all the processes are completed within
the plan that is made in cost management (Walker 2015). After completing the project, the actual cost
and the predicted costs are compared and thus providing benchmarks for the plans of cost
management as well as project budgets.
2. The effective time management is about planning about the time that is to be spent for completing
the project (Burke and Barron 2014). Three techniques are involved for managing the time in a
project.
To Do List: The To Do List should capture all the actions that one needs to take in future for
completing the project with all the commitments and the goals.
Weekly Review: Weekly Review involves powerful way to manage the time effectively.
Weekly review allows reviewing the actions that are needed to be taken and then identifying
the actions that are not much important and other should be given priority (Harrison and Lock
2017).
Time Blocking: Time blocking includes to block off some of the time from daily routine that
focuses on the individual tasks. With time blocking, the schedule time is completed in time
including all the important tasks.
Using the above three techniques of time management, the project manager can prepare a time
management system.
The cost management also includes some tools and techniques that are used by the professional
project managers (Kerzner and Kerzner, 2017). The three tools and techniques that are to be used by
the project professionals are explained below:
Expert Judgement- This includes the experience as well as knowledge of the experts for
estimating cost of project. Expert judgement can be biased.
Analogous Estimating- This tool mainly uses historical data of same types of projects based
on the cost estimate. This estimate can be adjusted for the known difference in between the
projects. This estimate of cost management is used in early phases of project and less
accurate than the other methods.
Parametric estimating: This mainly uses statistical modelling for developing cost estimate.
The parametric estimating uses historical data of cost drivers for calculating the estimate for
various parameters including duration and cost.
3. The list of activities that are needed for monitoring as well as controlling a project are:
Involves tracking, reviewing of progress, and regulating the progress of project.
Includes the reporting status, measurement of progress as well as forecasting the process.
Reports the scope, cost, quality, resources, risks, as well as schedule.
Controls the project as well as changing the document of the project.
Includes scope of control, costs, risks as well as schedule of project.
Formalizes the acceptance of the deliverables.
Recording the results of quality control.
Implements the plans of risk treatment and the actions associated.
Administers the suppliers.
3 Conclusion
Many projects are recorded that has failed completely or has been rendered as a less effective project
because of overlooking the change management and underestimating the change management. The
projects are not managed as the integral part of the project that includes planning as well as execution
of project that are involved in. The projects incudes change interventions that are aimed to effective
organizational change and overriding the focus, which is known as the mechanistic or as project
[student name]
Lacking of effective time management mainly have a negative result on the project in long run basis
(Aga, Noorderhaven and Vallejo 2016). Time is considered as three triple constraints and including
any deviation from schedule naturally effects the cost as well as scope of the project that is defined at
the beginning of the project. In most of the cases, time is considered as money (Tyssen, Wald and
Spieth 2014). With ineffective management of time, there can be increase in stress as well as
frustration in a project manager as well as in team members. Worst case scenario of ineffective time
management is burnout.
The cost management is one of the process that helps in estimating, controlling, as well as allocating
the cost of the project (Redick et al. 2014). Cost management allows business to predict the expense
that is to be faced by the project manager and thus reduces chance of going over the budget.
The projected costs are mainly calculated in the planning phase of project and is to be approved by
the stakeholders before beginning the work (Binder 2016). With the execution of project plan, the
expenses are mainly documented as well as tracked so that all the processes are completed within
the plan that is made in cost management (Walker 2015). After completing the project, the actual cost
and the predicted costs are compared and thus providing benchmarks for the plans of cost
management as well as project budgets.
2. The effective time management is about planning about the time that is to be spent for completing
the project (Burke and Barron 2014). Three techniques are involved for managing the time in a
project.
To Do List: The To Do List should capture all the actions that one needs to take in future for
completing the project with all the commitments and the goals.
Weekly Review: Weekly Review involves powerful way to manage the time effectively.
Weekly review allows reviewing the actions that are needed to be taken and then identifying
the actions that are not much important and other should be given priority (Harrison and Lock
2017).
Time Blocking: Time blocking includes to block off some of the time from daily routine that
focuses on the individual tasks. With time blocking, the schedule time is completed in time
including all the important tasks.
Using the above three techniques of time management, the project manager can prepare a time
management system.
The cost management also includes some tools and techniques that are used by the professional
project managers (Kerzner and Kerzner, 2017). The three tools and techniques that are to be used by
the project professionals are explained below:
Expert Judgement- This includes the experience as well as knowledge of the experts for
estimating cost of project. Expert judgement can be biased.
Analogous Estimating- This tool mainly uses historical data of same types of projects based
on the cost estimate. This estimate can be adjusted for the known difference in between the
projects. This estimate of cost management is used in early phases of project and less
accurate than the other methods.
Parametric estimating: This mainly uses statistical modelling for developing cost estimate.
The parametric estimating uses historical data of cost drivers for calculating the estimate for
various parameters including duration and cost.
3. The list of activities that are needed for monitoring as well as controlling a project are:
Involves tracking, reviewing of progress, and regulating the progress of project.
Includes the reporting status, measurement of progress as well as forecasting the process.
Reports the scope, cost, quality, resources, risks, as well as schedule.
Controls the project as well as changing the document of the project.
Includes scope of control, costs, risks as well as schedule of project.
Formalizes the acceptance of the deliverables.
Recording the results of quality control.
Implements the plans of risk treatment and the actions associated.
Administers the suppliers.
3 Conclusion
Many projects are recorded that has failed completely or has been rendered as a less effective project
because of overlooking the change management and underestimating the change management. The
projects are not managed as the integral part of the project that includes planning as well as execution
of project that are involved in. The projects incudes change interventions that are aimed to effective
organizational change and overriding the focus, which is known as the mechanistic or as project
[student name]
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Assignment 1 - Project Fundamentals
deliverables known as hard project deliverables. To establish a goal within a time, the quality and the
cost containment often leads to exclusion as well as neglecting the softer issue involved in the
organizational change and all their related dimensions.
To select a methodology of project management is a difficult task for project manager. There are
many types of project management methodologies that can be selected to complete a particular
project. This paper explains many project management methodologies that can be used for managing
a project. This paper summaries different methods of project management and the advantages and
the disadvantages that can be used for completing a project. Each of the methodologies uses its own
strength as well as weakness for completing project.
4 References
Aga, D. A., Noorderhaven, N., and Vallejo, B. 2016. Transformational leadership and project
success: The mediating role of team-building. International Journal of Project Management, 34(5),
806-818.
Binder, J. 2016. Global project management: communication, collaboration and management
across borders. Routledge.
Burke, R., and Barron, S. 2014. Project management leadership: building creative teams. John
Wiley and Sons.
Conforto, E. C., Salum, F., Amaral, D. C., da Silva, S. L., and de Almeida, L. F. M. 2014. Can
agile project management be adopted by industries other than software development?. Project
Management Journal, 45(3), 21-34.
Crawford, J. K. 2014. Project management maturity model. Auerbach Publications.
Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management.
Project Management Institute.
Harrison, F., and Lock, D. 2017. Advanced project management: a structured approach.
Routledge.
Heagney, J., 2016. Fundamentals of project management. Amacom.
Heldman, K. 2018. PMP: project management professional exam study guide. John Wiley and
Sons.
Kerzner, H., and Kerzner, H. R. 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley and Sons.
[student name]
deliverables known as hard project deliverables. To establish a goal within a time, the quality and the
cost containment often leads to exclusion as well as neglecting the softer issue involved in the
organizational change and all their related dimensions.
To select a methodology of project management is a difficult task for project manager. There are
many types of project management methodologies that can be selected to complete a particular
project. This paper explains many project management methodologies that can be used for managing
a project. This paper summaries different methods of project management and the advantages and
the disadvantages that can be used for completing a project. Each of the methodologies uses its own
strength as well as weakness for completing project.
4 References
Aga, D. A., Noorderhaven, N., and Vallejo, B. 2016. Transformational leadership and project
success: The mediating role of team-building. International Journal of Project Management, 34(5),
806-818.
Binder, J. 2016. Global project management: communication, collaboration and management
across borders. Routledge.
Burke, R., and Barron, S. 2014. Project management leadership: building creative teams. John
Wiley and Sons.
Conforto, E. C., Salum, F., Amaral, D. C., da Silva, S. L., and de Almeida, L. F. M. 2014. Can
agile project management be adopted by industries other than software development?. Project
Management Journal, 45(3), 21-34.
Crawford, J. K. 2014. Project management maturity model. Auerbach Publications.
Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management.
Project Management Institute.
Harrison, F., and Lock, D. 2017. Advanced project management: a structured approach.
Routledge.
Heagney, J., 2016. Fundamentals of project management. Amacom.
Heldman, K. 2018. PMP: project management professional exam study guide. John Wiley and
Sons.
Kerzner, H., and Kerzner, H. R. 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley and Sons.
[student name]

Assignment 1 - Project Fundamentals
Kilibarda, G. D., Šobajić, V. M., Berić, I. M., and Jovanović, P. M. 2016. Software project
management. Tehnika, 71(1), 145-152.
Kundra, T., and Sharma, A. 2015. Software project management. Int. J. Res.
Lee, M. R. 2016. Leading virtual project teams: Adapting leadership theories and communications
techniques to 21st century organizations. Auerbach Publications.
Marchewka, J. T. 2014. Information technology project management. John Wiley and Sons.
Niazi, M., Mahmood, S., Alshayeb, M., Qureshi, A. M., Faisal, K., and Cerpa, N. 2016. Toward
successful project management in global software development. International Journal of Project
Management, 34(8), 1553-1567.
Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and
technology. Routledge.
Ramazani, J., and Jergeas, G. 2015. Project managers and the journey from good to great: The
benefits of investment in project management training and education. International Journal of
Project Management, 33(1), 41-52.
Redick, A., Reyna, I., Schaffer, C., and Toomey, D. 2014. Four-factor model for effective project
leadership competency. Journal of Information Technology and Economic Development, 5(1), 53.
Sánchez, M.A., 2015. Integrating sustainability issues into project management. Journal of
Cleaner Production, 96, pp.319-330.
Schwalbe, K. 2015. Information technology project management. Cengage Learning.
Silva, P., Moreno, A. M., and Peters, L. 2015. Software Project Management: Learning from Our
Mistakes. IEEE Software, (3), 40-43.
Trendowicz, A., and Jeffery, R. 2014. Software project effort estimation. Foundations and Best
Practice Guidelines for Success, Constructive Cost Model–COCOMO pags, 277-293.
Tyssen, A. K., Wald, A., and Spieth, P. 2014. The challenge of transactional and transformational
leadership in projects. International Journal of Project Management, 32(3), 365-375.
Walker, A. 2015. Project management in construction. John Wiley and Sons.
[student name]
Kilibarda, G. D., Šobajić, V. M., Berić, I. M., and Jovanović, P. M. 2016. Software project
management. Tehnika, 71(1), 145-152.
Kundra, T., and Sharma, A. 2015. Software project management. Int. J. Res.
Lee, M. R. 2016. Leading virtual project teams: Adapting leadership theories and communications
techniques to 21st century organizations. Auerbach Publications.
Marchewka, J. T. 2014. Information technology project management. John Wiley and Sons.
Niazi, M., Mahmood, S., Alshayeb, M., Qureshi, A. M., Faisal, K., and Cerpa, N. 2016. Toward
successful project management in global software development. International Journal of Project
Management, 34(8), 1553-1567.
Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and
technology. Routledge.
Ramazani, J., and Jergeas, G. 2015. Project managers and the journey from good to great: The
benefits of investment in project management training and education. International Journal of
Project Management, 33(1), 41-52.
Redick, A., Reyna, I., Schaffer, C., and Toomey, D. 2014. Four-factor model for effective project
leadership competency. Journal of Information Technology and Economic Development, 5(1), 53.
Sánchez, M.A., 2015. Integrating sustainability issues into project management. Journal of
Cleaner Production, 96, pp.319-330.
Schwalbe, K. 2015. Information technology project management. Cengage Learning.
Silva, P., Moreno, A. M., and Peters, L. 2015. Software Project Management: Learning from Our
Mistakes. IEEE Software, (3), 40-43.
Trendowicz, A., and Jeffery, R. 2014. Software project effort estimation. Foundations and Best
Practice Guidelines for Success, Constructive Cost Model–COCOMO pags, 277-293.
Tyssen, A. K., Wald, A., and Spieth, P. 2014. The challenge of transactional and transformational
leadership in projects. International Journal of Project Management, 32(3), 365-375.
Walker, A. 2015. Project management in construction. John Wiley and Sons.
[student name]
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