Summary
Project definition: Project refers to an endeavor to achieve unique deliverables aimed at addressing at specific purpose or need. Projects aim at solving complex problems and hence constitute a multidisciplinary team charged with the responsibility of undertaking specific tasks (Gido & Clement, 2009).
The project life cycle– The process of implementing a project constitutes a number of phases, which include project initiation, conducting detailed planning, project execution, and project closure (Heldman, 2009).
Selection and prioritization of projects coupled with how it supports organizational vision and mission
Project selection and prioritization should be linked with the vision and mission in order to ensure the establishment of a comprehensive understanding and connection between the project and the firm’s mission. This aspect aids in eliminating mistrust and confusion. On the other hand, prioritization serves in ensuring that the project attains the desired purpose.
Effect of project complexity on the planning process
Project planning is vital for it aids in generating information that is necessary for project execution. Additionally, some activities that are undertaken during the planning process include project identification, evaluation of capabilities, resource and other necessary requirement for project implementation, risk identification, and determination of key project participants.
However, projects may face a certain degree of complexity. Project complexity may adversely affect task completion and this element arises from the fact that some tasks have to be reworked. Consequently, this aspect culminates in poor project interconnectivity, hence failure of the project in attaining the desired results.
Project management
This aspect entails the process of accomplishing tasks that may not fit in an organization’s daily operation. Project management is not undertaken in isolation, but it is rather constituted of a number of deliverables, which must be integrated into one operation.
In a bid to ensure that a specific project is successfully executed, the project manager must be a professional who possess specific skills aimed at ensuring effective planning, execution, control, and project closure. Some skills that the manager must possess entail the ability to adjust quickly to changes, effectiveness in problem solving, flexibility and adapting to diverse organizational cultures, effective planning, and the ability to negotiate and ensure effective team motivation.
Project management importance: Project management is of great importance in ensuring that a particular project attains the desired goal. Additionally, project management ensures a high level of cost effectiveness, increased productivity, and improved risk minimization.
Integrated project management system- This system refers to a computer technology that provides project managers with the ability to undertake a number of project management functions in addition to uniform data access.
Project Management Institute: this institution refers to an international organization whose role is to provide sufficient support to the process of project management. It maintains the Project Management Body of Knowledge (PMBOK).
The management of risk- In the process of implementing projects, it is difficult for the project manager to eliminate all the risks involved in the process. However, the manager can manage the risks by undertaking a number of tasks such as risk management planning, risk identification, risk assessment, and monitoring and controlling risks.
Project portfolio process: It entails a collection of projects that hinge on specific business lines or infrastructure. Project portfolio facilitates effective reporting and management of projects. On the other hand, programs entail a number of related projects that seek to attain certain goals.
Reference List
Gido, J., & Clemement, J. (2009). Successful project management. Mason, OH: Cengage.
Heldman, K. (2009). PMP project management professional exam study guide. New York, NY: Wiley.