Project Management Toolbox Tools Techniques -Myassignmenthelp.Com

Question: Discuss About The Project Management Toolbox Tools Techniques? Answer: Introducation In my study, I have learnt that project management methodologies can be used to design a systematic project management. Developing a proper project management has been a challenge to many business managers. The specifications of a project should be established before starting the planning phase, as the stakeholders must be informed of the deliverables of the project. Portfolio Reflection Each functional role in a project must be identified before commencing the execution phase. The Work Breakdown Structure is a method where each functional division is further decomposed into smaller fragments of work. The entire project timeline is divided into several bits of time intervals. Each task is assigned a time interval within which it must be completed. WBS increases the project planning efficiency. However, we must be aware of the certain limitations to using this process. The person using WBS to plan a project must not decompose or the break the tasks down into too many pieces. This would make the entire process inefficient, as too much effort would be wasted on completing multiple similar bits of work and documenting them separately. I have also learnt that the project manager must consider the interdepartmental teamwork skills before assigning them work that would require them to perform as a team. A healthy team dynamics is needed to properly execute a project and wit hout teamwork, the project is bound to fail. The top management in a project holds the most important responsibilities, as that person is responsible for the success or failure of a project. I have seen that these responsibilities include managing the project, managing the team responsible for the project and most importantly supervising that the outcome of the project meets the entire requirement of the client. Most of the time the client is unable to convey their exact requirement to the accounting team. Information is often altered and manipulated in the transition process. Therefore, according to my understanding, it is the duty of the project manager to deliver what the client needs and not what the client wants. A statement of work is needed to provide a documented information to the client about the details of the plans and the timeline of the project. SOW is utilized to give the clients a timeframe and the outcome that they should expect from the project in that period. It is also essential that similar projects must maintain similar outcomes. A uniformity in quality and productivity must be maintained to provide value assurance to the client. A project manager thus needs to develop certain plans that determines the execution and the outcome of the project. These plans aids in developing strategic and tactical ideas for the project that would assist in making the operational plan successful. A contingency plan is developed as well that would tend to unanticipated events. These plans are a part of the risk management process that is desired to prevent failures in projects. From the literature, I can conclude that a good project manager always has a perfect contingency plan. Reference List Ashtiani, B. N., Jiang, Q., Tayah, M., Welcker, B. L., Patton, T. G., Panvalkar, S. S., Chan, W. K. T. (2017). U.S. Patent No. 9,720,737. Washington, DC: U.S. Patent and Trademark Office. Ethics compliance - SAI Global. (2018). SAIGlobal. psychology 25 January 2018, from https://www.saiglobal.com/en-au/ethics_and_compliance/ Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Khodakarami, V., Abdi, A. (2014). Project cost risk analysis: A Bayesian networks approach for modeling dependencies between cost items. International Journal of Project Management, 32(7), 1233-1245. Management, I. (2018). International Journal of Project Management. Journals.elsevier.com. Retrieved 25 January 2018, from https://www.journals.elsevier.com/international-journal-of-project-management Martinelli, R. J., Milosevic, D. Z. (2016). Project management toolbox: tools and techniques for the practicing project manager. John Wiley Sons. Project Management Journal | PMI. (2018). Pmi.org. Retrieved 25 January 2018, from https://www.pmi.org/learning/publications/project-management-journal Sharon, A., Dori, D. (2015). A Projectproduct modelbased approach to planning work breakdown structures of complex system projects. IEEE Systems Journal, 9(2), 366-376.