Components of Project Management Essay

Briefly describe the PMI Project Processes and Knowledge Areas and explain why they are important. Where do you think most failures occur in the five-phase life cycle of a project? 1. Describe the five project processes in correct sequence The first project process is Initiating. Initiating the project involves either starting a completely new project, or a new phase. The project manager and the team must determine the project’s scope. Stakeholders should be identified in this process and authorization should be obtained. Objectives must also be determined in this process. The next process is the planning process. The overall project solution is detailed in this process. The project steps must be developed properly in order to meet the projects…

Communication, Metrics, and Project Updates Communication in project management is necessary to ensure that the management team - project managers, functional managers, and in this situation, the PMO - are in sync to clearly identify and communicate the project requirements. The communication metrics is an integral part of the monitoring and controlling process used to communicate updates, to include status of the project milestones and deliverables. The communication process or protocol is…

IT Governance is an essential component of modern business. With increasing spending on technology and growing security risks, the effective deployment of IT resources can help give a business a competitive advantage over other businesses in the same market. IT governance can be composed of several components. There are several ways to approach IT governance in an organization as well as several best practices a company can undertake. A study by the IT Policy Compliance Group found that…

Processes for Risk Management Project management is inclusive of a wide array of responsibilities, not least of these many responsibilities are the tasks which fall under the scope of risk management. Risk management is one of the many complex components of project management. The PMBOK® Guide defines project risk as “an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives such as scope, schedule, cost, and quality” (p. 310). In…

Why we chose this topic? We picked the theme of Project Management Critical Success factors. Project Management is constantly imperative regardless of what industry one works in. The motivation behind why we picked this point is, every one of us work in the field of IT Management and this is pertinent to the sort of work we do and we feel that taking a shot at this undertaking together as a group would enable us to work better at our working environment. As the collaboration, correspondence and…

Risk Management. Risk management involves analyzing any foreseeable factors that may lead to a project not proceeding as planned, and should be part of the project planning process (CSU-Global, 2013e). Risk management is generally analyzed in the planning phases, executed throughout the project, and continually addressed during monitoring and controlling phases, therefore, risk management is an essential component to reaching satisfactory project results. Weaknesses in a risk management system…

There are many examples of projects that have been altered by issues that have occurred and the successes or failures in the responses that project managers countered with to deal with the situation. Project risk management is a critical component of the project planning process, as well as the overall lifecycle of an undertaking. Risks must be continually assessed and deliberated in order to determine the best course of action for the project and the organization as a whole. The risk management…

need for new ERP system installation required to integrate their system to meet business plan and streamline their processes for future. Hershey had chosen SAP as a centralized system, which is then followed by planning and transportation management software from Manugistics, and new sales software from Siebel Systems. Central system must be integrated with sales and transportation software to achieve the best output and for smoothing of the system.…

Reflective Writing 1. The Relative Importance of Knowledge Areas In project management, usually nine knowledge areas are considered to be crucial to project success. These areas are time, scope, integration, human resources, cost, communications, risk, procurement and quality. It has been observed that influence of each of these knowledge areas on project success vary greatly among industries. In class, we analysed and discussed several specific case studies handpicked from a list of case…

phases; upgrade the FBI’s Information Presentation Component which is basically its hardware, upgrade the FBI’s Transportation Network Component which is basically its communication network, then upgrade the FBI’s five most important investigative applications, the User Applications Component (UAC). The first two elements of Trilogy were awarded to Computer Sciences Corporation in one contract because both components involved physical IT infrastructure enhancements. The UAC element of Trilogy…