A project is defined as an activity to achieve a strategic objective. In most cases, projects are undertaken for business reasons such as improving reliability of end product, achieving faster product cycle times, cost minimization, improved quality of work, risk minimization, etc.
Sometimes projects are undertaken for non-business needs such as generating new technology, or creating new regulatory requirements. Project managers do not deal with improving end product; they are concerned with improving the way the end product is produced, packaged or marketed. As on a PRINCE2 Course Belfast qualification.
A project consists of the activities leading up to the end result of the end product. In manufacturing, a project may involve research into the production process or preparing software code for implementation in a production system. They may involve planning and design, product review, testing, scheduling, procurement and management and coordination activities. In public sector, the segments involved are public sector, government and non-government organizations.
Project management functions for the successful completion of an objective
The Project Manager
Project managers coordinate resources to a defined project direction but may have periodic reporting relationships with resource managers about how the end product is progressing.
The first task for the project manager is to determine the nature and purpose of a particular development project. The nature of the project determines the methods to be used to achieve objectives and what results are expected at the end of the project period.
Identify activities. They identify steps and locations for which commands and controls are to be employed.
Assigning a Unique Role to individuals
The individual project control functions, whereas information and funds are centralized.
Managing Competence and Resources
The project manager should use project-based approaches for managing all activities of the project with a team, when it is the project’s responsibility and when it is necessary to apply business dependent methods.
Project plans can be behavioral in nature. Project managers have to consider the advantages and disadvantages of the plan of action and its feasibility by knowing the resources available in the organization: financial, material, human and time. Project action plans also need to include quantification of resources required to complete the project on time and within budget.
Project managers have to understand the risk factors of a project so as to deal with them. Risk management is the identification and heightening of probability of events occurring which cause loss of data, hazards, damage or harm to property. Risk management provides a solution to maximizing benefits while minimizing the liabilities of an event.
A. Risk control methods and essentials
Velocity, here effect vs. the project’s environment. Seeking power analysis or unconditional diagnostic. Procrastination, discipline, or disinclination. Contingency, resistance, resistance, opposition, resistance.
Project management seems to be going a million miles ahead in its microchip applications. The application of project management to the marketing, insurance, medical and social health fields has proven to have some other significant benefits as well.
- Speed of decision making while maintaining more information
- Sets goals and objectives
- Provide process for performance management
- Minimize risks
- Identification in concept, of project actions and objectives, property assessment and characterizations, geographical, functional and a learning plan
B. Potential for cost savings through the action of risk control measures
The application of risk control measures like project monitoring programme provides for a system of monitoring and controls that assures that projects conform to the program and as such comply with Federal Standards.
- Handles the monitoring and control of the exploratory activities
- Handles relations of risk
C. Detailed and clear activities and tasks
- Lead in the design phase
- Transform idea into product or service
- Design integrated into prototype relevant to product or service
- Design permitted
- Build of prototype
- Build accepted
- Construction of installation
- Quality analysis and review
- QC review process