Business Benefits of Project Management - Article Example

Project management Author’s name: Tutor’s name: Course title: Submission date: Question 1; Business benefits of project management Initiation of project management enabled most organizations to plan for their projects, complete them in time and to the satisfaction of the organizations and the customers. The invention of Prince2 has provided a framework through which organizations can plan, execute and complete their projects. It also provides an organized and controlled flow of tasks. Project management ensures improved customer satisfactions. With project management, one is able to accomplish the project as per the deadline and budget. When this happens, a client is very pleased and satisfied with the project. This ensures that the client comes back for the services of the same project manager. Project management enables the teams to develop and grow stronger. Good performance and successful completion of a project ensures that the team respects, inspires and appreciate each other. Prince 2 has clearly defined communication channels within the team members. Project management provides an opportunity to identify and rectify risks in time and alienates the possible consequences. It enables the project team to identify any possible risk even before the start of the project. With the use of Prince, project managers conduct constant reviews which are necessary to review the progress of the project (Charvat, 2003). Project management ensures that the projects outcomes are quality. This is because; every task is planned for in advance. Prince2 ensures quality outcome as it involves collaboration of the management, staff, and all the stakeholders at crucial stages in the project. This ensures that any possible problems are dealt with in advance. Question 2 The project manager has many responsibilities for the completion of the project; first, the project manager is the coordinator of the whole project. He ensures that the project is conducted and executed in the right directions and the right manner. The manager is also the team manager, he manages the project team, both directly and indirectly, he issues assignments, and ensure that the team members interact well. The project manager also offers leadership to the team. The PM is a link between the management, team members and all the stakeholders. He ensures that information flows to the team members and all the concerned parties. The manager has the responsibility of conducting risk analysis for the project. He also conducts cost analysis to ensure that the project runs within the stipulated budget. The project director has the responsibility of resolving any issues that arise from the team and the project. They handle these issues before they reach the steering committee. The project director monitors the project manager and assists them in their responsibilities. He evaluates assesses the project development and gives priority to the most important tasks as per the project plan. The director also sits in the budget development. He also ensures that the project has all the materials needed. He identifies and deals with external obstacles that affect the operations of the project. Lastly, the director reports to the senior management on the progress of the project (Charvat, 2003). Question 3; roles of team members For a project to be successful communication and leadership of team members is very crucial. The team members play a very crucial role in the project, and without them, the project can never be successful. Below are some of the responsibilities of the team members. The staffs working in the project have different roles and responsibilities, depending on the project. Every team member in the project has the responsibility of contribute proactively and positively towards the successful completion of the project. Every team member is an owner of the project, and they personally responsible and accountable for the specific departments and roles in the project development. Each team member is responsible for providing inputs and ideas that will ensure successful completion of the project. They review the correspondence from managers, and offering feedback as necessary (Charvat, 2003). The members also should keep the record of all the completed activities, the work-in-progress and the remaining work. They should also report to the team lead in any expected problems relating to the project, so that appropriate actions can be undertaken. The team members should also make decisions and communicate them in a timely manner. It is also the responsibility of the team members to provide their expertise in the project, depending on the role one is assigned. The team members collaborate with the team leads and project managers to ensure that the project development runs according to the schedule. Lastly, it is the responsibility of the members not to tender criticisms without suggestions. Question 4; project initiation document The project initiation project is a reference manuscript created at the beginning of a project for directions. Below are the contents of the project. i. Aims and objectives of the project. The document defines what the project aims to achieve. ii. Benefits- the document defines the benefits an organization stand to gain after adopting the project. iii. Costs- it defines all the costs accompanying execution and implementation of the project. iv. Business case- this makes the basis as to whether the management will adopt the project. It compares the costs and benefits of the project. v. Staffing and tasks-The document defines tasks required to complete the project, and who to undertake the project. vi. Precedence chart- this defines how long each activity will take. vii. Risk management plan- this identifies the risks likely to face the project and offers solutions to such risks. The project initiation document is a document that describes and defines the projects providing the basis for management, execution and assessment of the project. The document offers the course and scope of the project. To achieve the above functions, the document provides a firm basis through which the Project Board can make dedication to the project. It provides all the facts necessary about the project for them to make sound and informed decisions (Charvat, 2003). The document is a base document where development of the project can be determined. Moreover, it is a reference document, through which anyone joining the project at any stage can tell all about the project and its management. Question 5; prince2 as a project management method Prince2 is an effective method to project management, which is process-based. Its project specific or products specific where any organization maybe planning to undertake. Prince2 enables a project to define and maintain the business case of the project. It ensures that the projects works to meet the benefits it is aimed at. Prince2 defines the products of a particular project before the project begins and clearly outlines all the activities necessary to deliver the products. It also defines all the resources necessary for the completion of the project before the initiation of the project. It has a well-defined management structure for the team that will handle the project. The duties of all the members of the team are defined. Prince2 as a project management method emphasizes on the need to divide the whole project into small stages, which are manageable and controllable. This method advocates for a structured and controlled start, middle and end. Before starting the project, all activities should be planned properly; after the initiation of the project, the process should be well organized and controlled; when the project is over, it's important to tidy up all loose ends. Prince2 also has clearly defined tasks and deliverables at each stage of the project life cycle. It also has management techniques which ensure that the project runs without many problems (Charvat, 2003). This method also calls for management by exception, where the project team pays more attention to area with great deviations from the planned actions. Question 6; risk assessment method. The method I would use for risk assessment for the project is preliminary risk assessment. This is a qualitative approach entailing regimented analysis of all the events and tasks, which would convert into a potential risk. Under this method, all the events likely to cause risks are identified then a critical analysis of each event done separately. Control measures are then taken to guarantee that the risks are prevented, and in the event that they occur, then the effects will not affect the operations of the project (Charvat, 2003). This method provides a good foundation for determining the events with the highest risk levels, requiring close scrutiny and the events whose risks will not affect the project in a big way. This assist in knowing if the project is viable or not. This method is suitable for the project since prior efforts are made to ensure that the possible risks are dealt with before the completion of the project. All the possible risks are identified and corrective measures designed at the planning stage. One of the risks facing this project is the likelihood of management to accept the project due to lack of interest. The corrective measures involve having discussions with the top management so that they will accept the project and support it. It enables management to provide the resources and supplies required for the completion. This will make the implementation process easy, since the management already supports the project (Charvat, 2003). Section two Question 1; business benefits of the project When this project is complete, the council stands to benefit a lot from the new team of dedicated fire investigators. First, fire investigators will greatly improve their performance because; the existing fire investigators will be trained afresh on the new methods of handling the cases. This will improve the speed for handling such cases. The project will also enhance the effectiveness in fire investigations. Increased number of investigators will improve the effectiveness of handling cases. The other business benefit resulting from this project is that losses related to fire will be reduced. When the investigators are many, cases relating to the fire related crimes will be held faster and the victims compensated (Charvat, 2003). This will mean that the victims will be compensated in time and the losses will be reduced. Fire losses account 2.5% the council $138billion revenue. Teams of dedicated fire investigators will help reduce this loss by at least 0.12%. This translates to savings of $0.16 billion. The other benefit of the project is that timely actions by the team will limit chances of evidence being destroyed at the scene. The dedicated team of fire investigators resulting from the project can provide training for crime scene investigators, police officers, fire fighters, and forensic science students. This means that the council can generate more income by providing training to these groups of people. Lastly, any information gathered by this team will be very useful in compiling statistics, research and findings that will assist the council to develop safety strategies to prevent future fire-related crimes. Question 2; role of senior staff in project management The senior staffs in an organization have very important roles to play in the planning, execution and implementation of a project. They carry the biggest responsibility since they determine whether the project will go on or not. The senior management commissions other people to commence the project. They discuss, inform and deliberate on the way forward for the project. They give direction and guidance to all the stakeholders in relation to the project. The senior staffs have the burden to prioritize the goals of the project keeping in mind the goals of the other continuing projects (Charvat, 2003). Senior staff carries the responsibility to brief the project manager on the origin and details of the project. They discuss and consent on the dependability, roles and accountability levels of the project managers. It is the responsibility of the senior staff of the organizations to sign off the project initiation document and other documents relating to the project. They assent on the business case of the project and give the go-ahead for the project to begin. The team approves the plans, strategies, scopes and milestones of the project. It is their responsibility to resolve any policy and strategic concerns arising from the project (Charvat, 2003). The senior staff should drive and manage changes resulting from the project within the firms. Lastly, the senior team ensures that the project is on track by conducting frequent reviews on the progress of the project. They provide the best control mechanisms for the project, in collaboration with the project managers. Question 3; Role of project managers and other teams in the implementation of the project One of the project manager's duties in project implementation is defining and managing the user acceptance testing program. The manager also identifies the training needs required by the staffs and users and plans for such trainings. It is also their responsibility to ensure that they manage the training program so that all the users gain the necessary skills necessary for successful implementation (Charvat, 2003). In addition, the manager takes part in the development of the users' manual for the project so that users can refer to it in case of difficulties. The manager also conducts frequent review and assessment to ensure that users do not have problems working with the project outcomes. The other team members also have a crucial responsibility of ensuring that the implementation process is successful. First, the team comprises of representatives of other groups of people or department. They are usually respected in their groups or departments, and their opinion on the project determines whether people accept it or not. The team members influence what the other staffs think of the project. Other people benefit out of the knowledge they get from the team. This is because, they have been part of the project since the inception, and so, they are best placed to offer training to the other people. The project team members also determine whether the other staffs accept ownership of the project. If the team accepts the ownership of the project, then other staffs are likely to accept and vice versa (Charvat, 2003). Question 4; Role of project initiation document in implementation and control of the project The project initiation document provides a plan through which a project will be implemented. It defines the steps and activities required in the implementation process. The project initiation document also gives a plan on how to identify and deal with likely risks in the implementations process. It also details a plan on how to manage resistance to change by the users. In terms of control, the document contains the Gantt diagram or the critical control path, which shows the quantity of time, essential for the full the project. In addition, the document has a detailed budget, which shows the costs and revenues for the project. The document also stipulates the scope of the project, and the tasks of the project must be limited to the scope of the project. The document also plays a very important role in the life cycle of the project. In the initiation stage, the document describes the scope of the project, business case and outlines the responsibilities of the project team. In the planning stage, the document gives an outline of all the tasks needed. In addition, it has a comprehensive risk analysis and management plan. In execution and controlling phase, the document outlines all the tasks needed, the order in which they will be undertaken and time needed for each. It also outlines the monitoring and evaluation procedures. In the closure phase, the document ensures there are clear guidelines on implementation, monitoring and evaluation. In addition, it defines the filing and documentation of the deliverables (Charvat, 2003). Question 5; project management methods There are different project management methods aimed at managing projects. Among them are Prince2 and the System Development Life Cycle. Prince2 has the benefits of providing a controlled start, progress and close of the project. This ensures a continuous progress of the project. Prince2 ensures regular evaluation of the project against the set business case, plans and risks. The method has clear communication channels and ensures that all the stakeholders are involved at all levels. The method is flexible and allow for changes. Despite its success, Prince2 has several limitations. First, it divides the project into so many review stages, which wastes so much time. In addition, the method entails a lot of documentation, which is cumbersome and time wasting. The method is heavily bureaucratic and regimented, and it is therefore, not suitable for small projects. The system development life cycle, on the other hand, has its benefits. It is easy to manage as a result of the rigidity. The model has distinct phases, each with definite deliverables and review procedures. It is appropriate for small projects, whose requirements are well known. The model provides detailed steps for every phase, making it certain on what needs to be done at every stage of the project. It allows for users to offer contribution for the progress of the project. The model, however, is prone to several limitations, one, it is hard to determine the progress within the phases. It is also difficult to accommodate changes arising in the development of the project. This model is not appropriate for large and complex project (Charvat, 2003). Question 6, identifying, assessing and managing risks for the project The risks in this project will be identified by critically analyzing the tasks and activities involving the project. In this project, we identified several risks that would affect the implementation of the project. One of the risks is the lack of interest by the management, which may make them reject the project. The other risk will be lack of funds to purchase extra equipments for the team and lastly, resistance by other fire brigades to accept the new members of the team. Risk assessment is done by preliminary risk assessment. This is a qualitative approach entailing disciplined analysis of all the tasks. Under this method, all the events likely to cause risks are identified then a critical analysis of each event done separately. Control measures are then taken to guarantee that the risks do not crop up, and minimize the effects if the risks occur. To manage these risks, we held discussions with different department, which will ensure that the risks are addressed before the commencement of the project. The first meeting with the team management to explain the need for the dedicated team of experts, and the benefits they would bring to the business. The next meeting will be with the finance department, to convince them to avail funds for the purchase of the new equipment necessary for the new team. The last measure is meeting with the already existing team, to explain the need for the new dedicated team. This is to reduce the possibility of resistance, once the project is complete. References Charvat, J. (2003). Project management methodologies: selecting, implementing, and Supporting methodologies and processes for project. London: John Wiley and Sons. Read More