GET YOUR WORK DONE BY               www.TopGradePapers.com                            rs                         pe       ...
GET YOUR WORK DONE BY                                                               www.TopGradePapers.com                ...
GET YOUR WORK DONE BY                                       www.TopGradePapers.com                                        ...
GET YOUR WORK DONE BY                                      www.TopGradePapers.com                              Value of Pr...
GET YOUR WORK DONE BY                                       www.TopGradePapers.com Better efficiency in delivering service...
GET YOUR WORK DONE BY                                        www.TopGradePapers.com efficiently. Opportunities to expand y...
GET YOUR WORK DONE BY                                         www.TopGradePapers.com                 JP industry has also ...
GET YOUR WORK DONE BY                                       www.TopGradePapers.com       The equipment you have to manage ...
GET YOUR WORK DONE BY                                         www.TopGradePapers.com            Allocate the resources   ...
GET YOUR WORK DONE BY                                       www.TopGradePapers.com        estimated cost, plus the conting...
GET YOUR WORK DONE BY                                      www.TopGradePapers.com                                         ...
GET YOUR WORK DONE BY                                www.TopGradePapers.com                                  REFERENCES  ...
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Introduction to project management academic essay assignment - www.topgradepapers.com

  1. 1. GET YOUR WORK DONE BY www.TopGradePapers.com rs pe Pa de rapGTo Project Management Your Name Date GET YOUR WORK DONE BY www.TopGradePapers.com
  2. 2. GET YOUR WORK DONE BY www.TopGradePapers.com Table of Contents rs INTRODUCTION ............................................................................................................................................. 3 Project Management Basics.......................................................................................................................... 3 pe Value of Project Management ...................................................................................................................... 4 General Approach: ................................................................................................................................ 4 Tangible (Quantitative) Benefits of PM ........................................................................................................ 4 Intangible (Qualitative) Benefits of PM ........................................................................................................ 5 Pa PROBLEMS WITH JP INDUSTRIES: ................................................................................................................. 6 THREE AREAS TO DEMONSTRATE ................................................................................................................. 7 Resources (People, equipment, material) .................................................................................................... 7  People ........................................................................................................................................... 7 de  Equipment ..................................................................................................................................... 7  Material ......................................................................................................................................... 8 Time (Task durations, dependencies, critical path) ...................................................................................... 8 ra  Tasks .............................................................................................................................................. 8  Schedule ........................................................................................................................................ 8  Critical Path ................................................................................................................................... 9pG Money (Costs, contingencies, profit) ............................................................................................................ 9  Costs .............................................................................................................................................. 9  Contingencies ................................................................................................................................ 9  Profit ........................................................................................................................................... 10To CONCLUSION............................................................................................................................................... 11 REFERENCES ................................................................................................................................................ 12 2 GET YOUR WORK DONE BY www.TopGradePapers.com
  3. 3. GET YOUR WORK DONE BY www.TopGradePapers.com INTRODUCTION Project management; the leadership role which plans, budgets, co-ordinates, monitors and rs controls the operational contributions of property professionals, and others, in a project involving the development of land in accordance with a clients objectives in terms of quality, cost and time. pe Project management in the modern sense began in the early 1960s, although it has its roots much further back in the latter years of the 19th century. The need for project management was driven Pa by businesses that realized the benefits of organizing work around projects and the critical need to communicate and co-ordinate work across departments and professions. Project management is a carefully planned and organized effort to accomplish a specific objective, for example, constructing a building or implementing a major new computer system. de Project Management Basics  Project Initiation ra  Project Planning  Project Execution  Project Monitoring and ControllingpG  Closing the Project Further it includes the management of project plan and operating reular controls to ensure the proper implementation of project plan.To 3 GET YOUR WORK DONE BY www.TopGradePapers.com
  4. 4. GET YOUR WORK DONE BY www.TopGradePapers.com Value of Project Management rs General Approach: pe Project management is precisely what the name implies: Its a tactic for managing projects by combining strategy, goals, and nuts-and-bolts processes into a cohesive whole. Project management as a management discipline underpins much economic activity. In industries as diverse as construction, software and aerospace etc projects drive business. For an organisation, Pa it is effective project management that translates politicians promises of new roads, schools and hospitals into gleaming new constructions that improve everyday life. A good Project Management System will base project management principles on accepted, industry standard methodologies. The larger the project and the more complex it is, the more there is a need for a de formal, standard, structured process. You may be able to manage a project of two people and 200 hours in your head. However, you cannot manage a project of five people and 1000 effort hours the same way. A project of ten people with 5000 effort hours needs more formal management ra and a project of 20 people and 20,000 hours needs even more.pG Tangible (Quantitative) Benefits of PM Saving Time and Money:To Project Management was developed to save time on a project by planning it out and considering all relevant factors which may affect its outcome. The benefits are proven - it saves time and money, and generates a more successful outcome.  Time saving  Cost saving  Achieving an agreed outcome 4 GET YOUR WORK DONE BY www.TopGradePapers.com
  5. 5. GET YOUR WORK DONE BY www.TopGradePapers.com Better efficiency in delivering services: Project management provides a “roadmap” that is easily followed and leads to project completion. Once you know where to avoid the bumps and pots holes it stands to reason that you’re going to be working smarter and not harder and longer. Greater standing and competitive edge: This is not only a good benefit of project management rs within the workplace but outside of it as well; word travels fast and there is nothing like superior performance to secure your place in the marketplace. pe Increase in Quality: Goes hand-in-hand with enhanced effectiveness  Pa Intangible (Qualitative) Benefits of PM Projects delivered successfully de  Proven planning and agreement will enable you to achieve agreed objectives  You will have goal clarity and measurement  Your resources will coordinated  ra Your risks will be identified and managedpG Improved/increased/enhanced customer satisfaction: Whenever you get a project done on time and under budget, the client walks away happy. And a happy client is one you’ll see again. Smart project management provides the tools that enable this client/manager relationship to continue.To Enhanced effectiveness in delivering services: The same project management strategies that allowed you to successfully complete one project will serve you many times over. Improved growth and development within your team: Positive results not only command respect but more often than not inspire your team to continue to look for ways to perform more 5 GET YOUR WORK DONE BY www.TopGradePapers.com
  6. 6. GET YOUR WORK DONE BY www.TopGradePapers.com efficiently. Opportunities to expand your services: A by-product of greater standing. Great performance rs leads to more opportunities to succeed. Better Flexibility: Perhaps one of the greatest benefits of project management is that it allows pe for flexibility. Sure project management allows you to map out the strategy you want to take see your project completed. But the beauty of such organization is that if you discover a smarter direction to take, you can take it. For many small-to-midsize companies, this alone is worth the Pa price of admission. Increased risk assessment: When all the players are lined up and your strategy is in place potential risks will jump out and slap you in the face. And that’s the way it should be. Project de management provides a red flag at the right time: before you start working on project completion. ra Increase in Quantity: Often the result of better efficiency, a simple reminder regarding the benefits of project management.pG PROBLEMS WITH JP INDUSTRIES:  No standard approachTo In JP industries there is no standardized approach for managing the projects. Its lack results the other problems.  Each office has its own system Each office in JP industries has developed their own rules and management practices. That is not very good measures at all.  Projects are delivered late or over budget. 6 GET YOUR WORK DONE BY www.TopGradePapers.com
  7. 7. GET YOUR WORK DONE BY www.TopGradePapers.com JP industry has also facing the problem of completion of projects late or out of time and not only this but also they absorb more cost than estimated costs. which then results in a loss to the organisation. rs THREE AREAS TO DEMONSTRATE pe There are four basic points of a project like resources, time, money, and most importantly, scope. All these elements are interrelated. Each must be managed effectively. 1. RESOURCE Pa 2. TIME 3. MONEY de Resources (People, equipment, material)  People ra Project employees, vendor staff, subcontract labor Managing the people resources means having the right people, with the right skills and the proper tools, in the right quantity at the right time. It also means ensuring that theypG know what needs to be done, when, and how. Managing direct employees normally means managing the senior person in each group of employees assigned to your project. Remember that these employees also have a line manager to whom they report and from whom the usually take technical direction.To  Equipment Cranes, trucks, backhoes, other heavy equipment or Development, test, and staging servers, CD burners or Recording studio, tape decks, mixers, microphones and speakers 7 GET YOUR WORK DONE BY www.TopGradePapers.com
  8. 8. GET YOUR WORK DONE BY www.TopGradePapers.com The equipment you have to manage as part of your project depends on the nature of the project. The project management key for equipment is much like for people resources. You have to make sure you have the right equipment in the right place at the right time and that it has the supplies it needs to operate properly. rs  Material pe Concrete, pipe, rebar, insulation or CD blanks, computers, jewel cases, instruction manuals. Most of the projects need purchasing the material. For a construction project all the raw Pa data is to be purchased also some specific machinery may have try be purchased or can be made available on rent. Managing the vendor staff means to make sure the right supplies arrive at the right time. Also the right price has its effect on project. de Time (Task durations, dependencies, critical path)  Tasks ra Duration, resources, dependenciespG A project can be broken into small tasks that combine to a major project. Each task then is to be assigned a specific duration and the most important is to identify dependencies. What task is followed by which task? It also includes Time Management  ScheduleTo Tasks, predecessors, successors Schedule is a necessity for completion of a task. If you omit the schedule the task may not be completed in time that would result in loss and delay of project, too. The schedule may also be affected if tasks are not properly sequenced. A schedule must be made in order to address all the tasks. There may be many steps like 8 GET YOUR WORK DONE BY www.TopGradePapers.com
  9. 9. GET YOUR WORK DONE BY www.TopGradePapers.com  Allocate the resources  Determine predecessors and successors  Critical Path rs Changeable, often multiple, float When all tasks have been listed, resourced, and sequenced, you will see that some tasks pe have a little flexibility in their required start and finish date. This is called float. Other tasks have no flexibility, zero float. A line through all the tasks with zero float is called the critical path. All tasks on this path or parallel paths must be completed on time only Pa then the project can be completed on time. The more critical path is to manage the budget. Money (Costs, contingencies, profit) de  Costs Estimated, actual, variability ra A cost is associated with each project, this cost may be of labour hours or purchase price of material needed for the project. For this purpose an estimated budget is prepared that take into account all these costs and then totals them. These estimates should be morepG accurate else it can result in a loss. After the estimations the project is completed and then estimated costs are matched to actual costs to find out variances. This could help us to avoid any unfavorable variances in future. Successful project management is an art and a science that takes practice.To  Contingencies Weather, suppliers, design allowance When the estimated cost of an item is uncertain, the project budget often includes design allowance. This is money that is set aside in the budget "just in case" the actual cost of the item is wildly different than the estimate. So a project budget is composed of the 9 GET YOUR WORK DONE BY www.TopGradePapers.com
  10. 10. GET YOUR WORK DONE BY www.TopGradePapers.com estimated cost, plus the contingency and design allowance, plus any profit. To complete a project within the estimated budget, you have to meet your project schedule. Dont allow the project scope to "creep" upward without getting budget and/or schedule adjustments to match. rs  Profit pe Cost, contingencies, remainder When project is completed the profit or loss is realized, if there is loss outstanding it suggests the failure of proper project management. For controlling the losses there should Pa be long term strategies and a proper check and control over each task that leads to completion of project. de When you have the project scope clearly identified and associated to the timeline and budget, you can begin to manage the project resources. These include the people, equipment, and material needed to complete the project. The resources assigned to project must be effectively ra managed.  Quality Management  Procurement ManagementpG  Professional ResponsibilityTo 10 GET YOUR WORK DONE BY www.TopGradePapers.com
  11. 11. GET YOUR WORK DONE BY www.TopGradePapers.com rs CONCLUSION pe It has been concluded that project management has of very much importance for the organization’s success and growth. Organizations that do not implement the practices of project management have to suffer a lot in terms of resources, time and money. The same problem was Pa with JP industries, which harmed the organization. In such a competitive world, organizations have to do anything that reduces their costs and resources on any given task. Project management is one of the tools from which one organization could use its resources efficiently and minimize de costs. It has very tangible and intangible benefits, therefore every organization have to think about it and implement it. rapGTo 11 GET YOUR WORK DONE BY www.TopGradePapers.com
  12. 12. GET YOUR WORK DONE BY www.TopGradePapers.com REFERENCES  Kevin Lonergan (2006), Project Management, available on rs http://managementhelp.org/plan_dec/project/project.htm, accessed at 07/09/09  Chris Thomas (2008), Construction Project Management, pe http://www.4pm.com/classes/121ecess.htm, accessed at 06/09/09  F. John Reh (2008), Basic Project Management Outline, available at Pa http://management.about.com/cs/projectmanagement/a/PM101.htm, reviewed at 09/09/09 de  Kennesaw (2002), http://www.tenstep.com/open/miscpages/90.6TSPMCertification.html, accessed at 07/09/09  http://www.brighthub.com/office/projectmanagement/articles/2350.aspx#ixzz0Qi2hZdoi ra  Gary (2009),The Top Ten Benefits of Project Management , available on http://www.brighthub.com/office/project-management/articles/2350.aspx, accessed atpG 10/09/09  Benefits of Project Management: Keeping IT on Track, http://jobfunctions.bnet.com/abstract.aspx?docid=235278, Sandhills PublishingTo  Pankaj Jalote (2007), Software Project Management in Practice Publisher: Pearson Education 12 GET YOUR WORK DONE BY www.TopGradePapers.com

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