Project management (PM) is an integral part of any organization since it allows the accomplishment of key goals and the successful introduction of improvements. A project is typically viewed as the process of attaining a particular goal (Munns and Bjeirmi 81). Project management (PM), in turn, can be interpreted as the set of tools and theories for coordinating the specified process (Munns and Bjeirmi 81). In other words, PM consists of using the available tools to plan, implement, and control the changes that lead to improvements.
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The significance of a project in PM can hardly be underrated. A project provides a layout of the key steps that need to be accomplished to meet the essential goals, as well as the structure according to which the key processes will be accomplished. Therefore, projects play a crucial role in PM as the means of determining the key objectives, assessing the available resources, defining the tools that can be used to enhance the value of the resources in question, locating the primary obstacles and avoiding them successfully, etc.
A theoretical perspective of the PM is a set of tools and assumptions used for modeling the stages of PM, as well as improving and coordinating the associated processes. Traditionally, the scope of PM is defined by the differences between the goals of a particular project and the tools that are used to attain the set objectives (Bryde 776). One should keep in mind that there is a range of theories that allow an explanation of the essential processes underlying PM. For instance, there is the Theory of Execution, which focuses on the implementation of the designed strategies, and the Theory of Controlling, which states that changes must be fully integrated into the organizational system and monitored closely, to name a few. (Koskela and Howell 7). The choice of a PM theory, in turn, defines the design of a PM strategy to a considerable extent.
As a rule, a strategy is considered to be a measure or a set of measures used to reach a certain goal. In other words, following a specific strategy implies carrying out a particular set of steps in accordance with the existing plan. A strategy must be designed prior to implement the actions that are intended to lead toward the goal. In PM, a strategy can be interpreted as the approach based on which the organizational issues and the relationships between the participants can be managed. The PMBOK guidelines are typically viewed as the framework for designing a PM strategy (Koskela and Howell 3).
The process of PM can be viewed from several perspectives, hence numerous frameworks including a different number of stages. For instance, PM may be split into conception, planning, production, handover, utilization, and closedown (Munns and Bjeirmi 84). As stressed above, the PMBOK framework is traditionally used to delineate a project strategy and carry out the proposed actions. In particular, the approach suggests that three key elements should be incorporated into the process: plans, their further corrections, and the implementation of changes (Koskela and Howell 4). Careful planning is crucial, and planners must follow the designed set of steps for implementation and introduce efficient control tools to create a sustainable environment (Koskela and Howell 5).
Since PM allows the introduction of improvements in an organization, it must be viewed as part and parcel of any business environment. PM requires a company to set its priorities straight, which provides an opportunity to achieve the required objectives. Therefore, PM tools must be included in the list of any company’s management techniques.
Bryde, David James. “Project Management Concepts, Methods, and Application.” International Journal of Operations & Production Management, vol. 23, no. 7, 2003, pp. 775-793.
Koskela, Lauri J., and Gregory Howell. “The Underlying Theory of Project Management Is Obsolete.” Proceedings of the PMI Research Conference. PMI, 2002.
Munns, Andrew K., and Bassam F. Bjeirmi. “The Role of Project Management in Achieving Project Success.” International Journal of Project Management, vol. 14, no. 2, 1996, pp. 81-87.