Project Management Report: Strategies for Managing Uncertainties

This report examines the various uncertainties encountered in project management, including inexperience, improper planning, and inefficient communication. It then outlines strategies for mitigating these uncertainties, such as providing proper training, effective project planning, and maintaining a strong communication process. The report also discusses the application of agile methodology in managing uncertainties, emphasizing risk identification, prioritization, estimation, knowledge acquisition, and continuous risk assessment. The report highlights the importance of these steps to adapt and avoid potential project setbacks. The report references the work of Haque et al. (2017), Inayat et al. (2015), and Salerno et al. (2015) to support the findings and provide a comprehensive overview of project management strategies. This report is available on Desklib which provides past papers and solved assignments for students.

Running head: PROJECT MANAGEMENT
Project management
Name of the Student
Name of the University
Author’s Note

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PROJECT MANAGEMENT
1. Some uncertainties that are faced in the project
The different types of uncertainties which can occur within the project during project
progress are mainly elaborated below:
Inexperience: If the involved members of the team are not experienced then they
generally face a number of conflicts and challenges in properly managing the work of the project
effectively.
Improper planning: If the project work is not effectively prioritized then it will be quite
difficult to break the project phases properly due to which the project can face delay (Haque,
Topal & Lilford, 2017).
Inefficient communication process: Lack of proper communication will generally lead
to various types of errors such that the delays in the project can further obstruct the project
progress.
2. Strategies helpful in managing uncertainties
The strategies that are mainly used in the project for managing the project related
uncertainties are mainly elaborated below:
Training: Proper training facility should be provided to the project team such that they
can be effectively handled for managing the project related conflicts.
Proper planning: Proper planning generally needs an effective breaking down of large
project into tasks by effectively assembling a project team as well as by determining the schedule
of the project (Salerno et al., 2015).

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PROJECT MANAGEMENT
Proper communication process: It is necessary to exchange various types of thoughts,
ideas and information in the project so that no challenges will occur during the progress of the
project.
3. Use of agile methodology in managing uncertainties
The agile methodology that is mainly used in five different steps for managing the
uncertainties of the project and those steps are listed below:
 Risk identification: In the initial step, the risks are identified by determining the
probability and impact of the risk.
 Prioritization: Agile methodology helps in suggesting the order of the backlog that is
mainly based on the desired value.
 Estimation: It is necessary to undertake estimate with uncertainty in mind so that they
can be managed properly (Inayat et al., 2015).
 Adding knowledge acquisition: When the uncertainties are quite high, then it is
necessary to give time for undertaking research.
 Keeping uncertainty visible: It is necessary to revisit the list of risk so that one can be
able to proper adapt depending on what is learned and the decisions that are taken for
avoiding disasters.

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PROJECT MANAGEMENT
References
Haque, M. A., Topal, E., & Lilford, E. (2017). Evaluation of a mining project under the joint
effect of commodity price and exchange rate uncertainties using real options
valuation. The Engineering Economist, 62(3), 231-253.
Inayat, I., Salim, S. S., Marczak, S., Daneva, M., & Shamshirband, S. (2015). A systematic
literature review on agile requirements engineering practices and challenges. Computers
in human behavior, 51, 915-929.
Salerno, M. S., de Vasconcelos Gomes, L. A., da Silva, D. O., Bagno, R. B., & Freitas, S. L. T.
U. (2015). Innovation processes: Which process for which project?. Technovation, 35,
59-70.