Components Of Project Management

Planning is defined as the activity of deciding in advance what tasks need to be done and therefore come up with ways of accomplishing the same tasks. Planning ensures that things to happen which if left unattended to would otherwise not have occurred (Daft, 1997). Organizing Organizing is the next task that follows planning in the management process. Organizing involves synchronization of all the available management resources to achieve the set goals and objectives. The resources necessary for management are; human, physical and financial factors.

A portion of the obligations of a staff supervisor incorporate organizing advantage projects and worker preparing, dealing with the enlisting procedure, leading post employment surveys and pay studies, planning record keeping and finance, and managing faculty approaches. 10.What do you mean by Management? Portray the fundamental elements of administration. Administration in straightforward terms can be comprehended as the way toward uniting individuals to accomplish the coveted objectives. The fundamental elements of administration include: Planning, Organizing, Budgeting, Resourcing, Directing, Controlling and Reviewing.

A project plan specifies the resources required for implementing an ERP system, the timeline for completion of the implementing process, the targets that need to be achieved by implementing the ERP system, etc. In addition, the project planning phase involves developing a contingency plan, identifying control measures, and deciding methods for the evaluation of the ERP system. IV. Gap Analysis: In this phase, an organisation develops a model that states its current status and future targets. Using this model, the organisation can anticipate any functional gaps and cover them.

There are many different types of contracts like firm-fixed price, time and materials (T&M), cost-reimbursable, and others. Different procurement items may also require different contract types. A well-defined product may be a firm-fixed price while a product which will require a research and development effort may be a T&M contract. All items and services to be procured for this project will be solicited under firm-fixed price contracts. The project team will work with the contracts and purchasing department to define the item types, quantities, services and required delivery dates.

A) What can you understand from "project management" in your opinion? Before talking about project management and what does it mean, I will begin with defining the main word "Project". The Project management Institute (PMI) defines a project as "A temporary endeavor undertaken to create a unique product, service, or result." (PMI, 2013, p. 553) Therefore, for achieving the best result for such endeavors, we need a systematic approach that translate our goals into defined objectives and help us organize and plan the tasks and resources needed to accomplish these objectives. In this context, project management offers a valuable framework that define the timetable, budget, scope, and resources needed to achieve the desired outcome of the project

The control stage also begins necessary and need to continuously monitoring form here. The role of project manager is very important to help their team keep track on the activities, solving problems that occur to ensure the performance and progress. For instance, project manager will supervise their staffs, provide the necessary tools and resources for activities. Project manager also will review the performance of the project at the current position and notify stakeholders to take adjustments if there is a change (Miller, 2018).Closure stage, before closing out the project, project manager and team members need to review performance and compare the achievement goals to initial targets. If all the targets are met then the project manager will gather and finalize all results of the project and delivery all document for higher

Contemporary management involves many aspects of management. These aspects include planning, leading, organising and controlling operations to achieve certain organisational goals. When comparing different management levels it is evident that at all levels emphasise the importance of using resources effective and responsibly. Managers should be able to build their own as well as their subordinates’ skills, regarding decision making, monitoring information and supervising personnel are which are essential to success. Managers have great responsibilities, these responsibilities include managing a diverse work force, maintaining a competitive edge, behaving ethically and using emerging technologies.

The scale, significance, and complexity of a project need to be considered when doing project management in order to determine how the project will be handled and what the development of the end product will be. The project manager is important in every aspect of a project. Project managers are the people appointed by the company to lead the project team and ensure that the project is attaining all objectives set. They are responsible for ensuring all the essentials of the project are fulfilled. This high level of responsibility means that project managers must ensure they have the necessary skills and abilities to perform the job better than anyone else.

2. Organizing and motivating a project team  A project manager is expected to focus on the project team as they are the key resource for a successful project. The project manager is responsible for formulating a plan which aids team skills and performance in achieving the project objective and goal. It is the job of the project manager to guide and direct his team and encourage them to harness their full potential (Mrsic, n.d.). 3.

Evaluation of Project Management Methodologies Project Management Methodologies are a sequence of diverse procedures designed to support project managers and team members. The purpose of using these methodologies in project management is to complete the tasks involved in the project faster and with strategies in place to handle issues when they arise. It leads the team throughout the project and delivers steps to follow and targets to achieve during the project lifetime. Below analysed are some of the popular project management methodologies used by organizations: Agile This method tries to provide rapid, continuous delivery of product to the customers (PM Methodologies, n.d.). Unlike traditional methodologies such as the Waterfall, where the