Project Management Processes Common to Technology-Intensive Organizations

Project Management Processes Common to Technology-Intensive Organizations

Introduction

The modern business has been growing with changes in technological and business environment. These advancements have brought effective changes to project management. One has no doubt to believe that project management has improved the modern business with the ability to make decisions in relation with IT investments, planning the projects in an efficient way and controlling the projects; leading the business towards the progress of meeting goals. Project management includes planning a project, implementing, controlling and identifying tasks and goals which are to be achieved (Cleland & Roland, 2006).

The paper summarizes the concept of the project and project management. The ideas and processes utilized for; project evaluation, project selection, project planning fundamentals, project cost control and the scheduling of a project utilizing critical method (CPM); which are crucial to contemporary technology-intensive organizations globally have been discussed.

A project is a sequence of unique, complex, and connected activities having one goal or purpose and that must be completed by the time, within budget, and according to specifications.

A project is a temporary endeavor undertaken to create a unique product, service or result.

Projects are temporary, whereas, operations are ongoing. Projects have specified start, and end dates and they are completed when the goals are accomplished. Operations, involve work that is ongoing and does not have specified end dates (Kerzner. H, 2009).

Management is the study of the methods for planning, managing, leading, executing and controlling possessions in order to achieve a particular task. These methods of achieving a particular task of management cannot ensure the complete success, however, gives a chance to attain success.

It is necessary to understand the application of knowledge, skills, tools and techniques in order to fulfill needs and expectations of stakeholders. Project management team should manage the expectations with great influence. The project and the deliverables related to project along with the project team members are greatly influenced by the Stakeholders.

Project management can be defined as a planned effort to accomplish a particular project. (Cleland & Ireland, 2007). Professionally, project management should be carried on the basis of different projects and the goals which are set up in order to achieve it.

Project Selection

Usually project managers are responsible for some or all of the following activities:

Drafting of the proposal- The proposal specifies the object, objectives, scope, quality and estimated project risks, and describes how it is carried out. It also includes estimates of cost, and time and makes the integration of all the above with what follows, and justified circumstances, assessing credentials and why the project contract should be given to an organization or team in particular, and under what conditions (Joseph, 2003).

Project planning- It refers to the identification of activities, milestones and project deliverables, including risk mitigation options.

Estimated project costs- This activity is predetermined by the quantitative assessment and collection of talent and resources required to carry out the business plan of the project involves estimating for each of the volumes and unit costs per unit ...