Project Management Paper free essay sample

Some projects can last for a period minutes, months, and hours, days, and weeks, or even years. Projects are unique meaning the product or service is new and never been done before. For example: Hoover is in the business of manufacturing vacuum cleaners. Each new model of vacuum cleaner that Hoover redesigns, and manufacture is seen as a new project. The newer models will differ from older models in their features, performance, and possibly cost. Project Management Paper 3 When objectives and goals are accomplished the project is completed. A project could end when it is determined that the objectives and goals cannot be accomplished or when the service or product is no longer a need (Davidson Frame, (1995). The three basic requirements of a project are performance, time, and cost. The five features of a project are people are usually involved (2) Uses specifically allocated resources to the work (3) Defines approach, beginning, schedule, and end (4) follows an organized and planned approach and (5) result have goals (cost and quality). We will write a custom essay sample on Project Management Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page What are the basic phases of the project lifecycle and their purposes? To achieve a projects objectives and goals logical order is needed. The basic phases of a project lifecycle are initiation phase, planning, execution phase/ controlling phase, close-out phase, and post-implementation phase. Careful planning s a key component of all projects to ensure that deliverables are achieved in a timely, professional manner. Project managers dealing with todays economy must ensure that every allocated resource is used in an efficient manner. During the initiation of the project must be Project Management Paper 4 accounted for or considered such as (time allotment and budget) and other items not mandatory to the success of the project must be excluded. This must be done to stay on track with the budget, time, and the stakeholders expectations ((Lewis, 2010) The initiation phase is the risk phase of the project life cycle. The projects variables must be determined, if not and the wrong budget, timelines or resources are implemented it could throw the entire project off and risk discontinuance. The planning phase, which the detailed planning occurs and the tasks of completing the plans are set in action. This phase of the planning is about the creation of project plans to guide the team or team to successful completion. The longest portions of a project life cycle are the execution phase/controlling phase. The execution and controlling phase of a project consumes the most amounts of resources. This phase hows the progress of the manager processes to ensure that time; risk, quality, change, and other concerns are addressed. This phase of the project also shows that physical deliverables are achieved and the project plans are met. The close-out phase is also referred to as the wrap-up phase. Formal closure of the project began to take place. Final Project Management Paper 5 summarized reports are submitted to the stakeholders detailing the success and learned lessons of the project. The close-out phase also shows transfer of reports to stakeholders Customers, return of all equipment and the closure of human resources ontracts. The last phase post-implementation phase is a phase that many companies choose to include or add to the project life cycle. Usually one to three months after a project is completed a post-implementation report is done to evaluate the success of the project (Lewis, 2010). Project management is very important for any organization to use to accomplish task because most organizations suffer many of the following problems inaccurate estimates, conflicting priorities, inability to deal with skills of the staff, changing levels of work conditions and no project reporting. Through project management rganizations have experienced better control, higher work morale, higher profit margins, lower cost, better customer relationships, and many other benefits. With the positives comes some negative organizations have also experienced such as higher cost, low personnel utilization, management difficulties, and other problems. In todays society the use of project managers continues to expand. In 1969 The Project Management Institute was Project Management Paper 6 created to develop the professionalism and growth of projects. In many businesses project management is recognized as a career path and a means to gain valuable nowledge and experience within the workplace. Although not problem-free project management is a good way to accomplish project goals. Most projects will have a project management main challenge would be to achieve all project objectives and goals while honoring project constraints (Phillips, 2003). The project constraints consist of time, scope, and budget. In conclusion planning, controlling and scheduling are involved in project management and are part of project activities to achieve performance, time objectives, and cost. The best way to ensure the success of an organization is to minimize the risk with better planning.