Project Management Competencies and Project Selection Methods Report

This report delves into the crucial competencies required for effective project management, emphasizing traits such as decision-making, leadership, communication, and critical thinking. It analyzes various project selection methods, with a specific focus on the Net Present Value (NPV) method. The report outlines the project process, including initiation, planning, execution, monitoring, and closing phases. The analysis highlights the importance of these competencies and methods in ensuring successful project outcomes. The report provides a concise overview of project management principles, offering insights into the skills and processes essential for project success and efficiency. The report also references relevant literature to support the analysis.

Project Management
Competencies and Project
Selection Methods
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Table of Contents
Analyse personal traits and competencies of project manager....................................................3
Explain methods of project selection and their process...............................................................3
REFERENCES................................................................................................................................5
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Analyse personal traits and competencies of project manager
A project manager needs to possess some particular traits and competencies. This enables
them to perform project tasks, manage it and complete in specified time. Also, they are
effectively able to plan and allocate resources (Nicholas and Steyn, 2017). In order to become a
successful manager, it is required to possess effective skills. This allows them to focus on project
goals and objectives. The competencies are as follows :-
Decision making – the manager required to possess high and effective decision making skill.
This allows them to take quick decision in critical time. There is also change in things
Leadership – the manager must have strong leadership skills to lead team. the leadership
qualities allow manager to motivate team members and improve their performance. Moreover,
they have to guide and direct them so that goals are attained in effective way.
Communication – the manager must be a good communicator so that they can interact with
people in effective way. it allows them to clearly describe goals, task, roles, etc. to members.
Along with good communicator manager should also be a good listener. It enables manager to
develop good relation within team.
Critical thinking – manager must be able to think in critical way and then take decision. He or
she should know what to do, how to do, etc. furthermore, what activities will be best for project.
Also, manager must be open minded and set a long term vision.
Explain methods of project selection and their process
There are various methods of project selection which is used by manager. It enables in
breaking down project into sub parts. Moreover, methods of selection depend on type and nature
of project. Here, NPV method is selected as it helps in finding out net present value of project.
With this future profit can be determined.
Initially, project process is divided into five stags that are as follows :-
Initiation – In this process, project proposal is prepared which consist of goals and objectives. It
gives insight to manager about overall project. Furthermore, it includes budget of project and
schedule. Basically, it is summary of project including stakeholders name as well.
Planning – It is crucial stage in which manager do proper planning of project. However, in this
process project background, scope, etc. of project is defined. With help of it plan is developed
and the activities are defined (Takey and de Carvalho, 2015).
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Execution – At this process plan is executed and team member starts performing their roles and
responsibilities. The development of project is according to plan developed.
Monitoring – In this phase manager closely monitor project to ensure that activities are
performed timely. The monitoring helps in maintaining quality of project and completing it on
time. However, manager set standards on basis of which monitoring is done. It is useful in
scheduling task on time.
Closing – At last stage project manager close project after its completion. The project outcomes
are delivered according to set budget and deadline.
It was very good explanation given regarding traits and competencies required by project
manager. He first describes why is it important for project manager to possess effective trait.,
also, how it benefits them in project. For this he used clear words and kept it short and simple.
Then, he discussed those traits and competencies in points. He described each point very clearly
as only containing limited information. The competencies such as leadership, decision making,
communication, etc. skills were stated. I liked the way in which each of competency was written
in short and prescribed manner. Alongside, participation of manager and role was explained in
detail. I came to conclusion that focus was only on those competencies which is mostly needed.
Here, he described NPV method as project was about construction. But only definition of
method was given and it was not described in detailed. Also, no further info was mentioned as
well. I felt that project process was not explained. It was not related to construction project as the
method was discussed in general. It lacked knowledge and was not linked in effective way with
project. Thus, I was not able to identify who were project stakeholders and their role. In addition,
I analysed that in some area task of project was mentioned in process. This enabled me to
identify that process include some details.
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REFERENCES
Books and journals
Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and
technology. Routledge.
Takey, S.M. and de Carvalho, M.M., 2015. Competency mapping in project management: An
action research study in an engineering company. International Journal of Project
Management, 33(4), pp.784-796.
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