Learning Outcomes Of Project Management Methodologies And Impact On Stakeholders

Importance of Project Management Methodologies

This paper contains the learning outcomes of the reason for adopting project management methodologies and analysing the impact of project management methodologies on stakeholders. It has described briefly the role of project manager to fulfil the requirement of stakeholder in the project. Recently there are several methodology develop that were guiding the process to the organization. Depending on the size, nature and complexity of the project, the organization adopts the methodology of the project management. With the flexibility in adopting the project management methodology successfully delivers the project. The importance of project management methodology is very well discussed in this paper to understand the Risk, Quality and managing changes, issue and gaining knowledge and learning from the failure. The paper also justifies the elements of project management methodologies to meet the needs of the organization.

Every organization has a process to follow. To adopt a process means to help an organisation to minimize the risk, helps an organization to deliver on time, with a quality and cost effective budget of the project. The team has able to communicate better about the scope, status and requirement of the project in the organization. It has help in detecting the problem when it is more expensive and possibly fix it. With effective planning of a project management methodology will keep things on track. Recently, many organizations have developed number of methodologies that provide a guiding process namely Agile, Prince2, PER, Waterfall and more. Depending on the project complexity and size, organization has employed project management methodologies to achieve an effective and efficient project.

The public sector and the government industries of Australia were promoted to use Prince2 as a project management methodology to deliver the IT/IS projects that are complex. There was a study conducted to examine the delivery of the benefits of project management such as Prince2. Some common benefits have identified in some methodologies namely In-House Gate-phased, In-House structured, Agile and Gate-Phased. These common benefits are to control and monitor, Language are Standardized and Unified, helping managers with unknown fear and uncertainty by directing and guiding them, providing safety scheme with guidance and Support.

Evidence suggests that the structured methodology used definitely going to deliver a successful project. The reason mainly depends on its nature and size and how complex is the project. Study shows that mostly based on the PMBoK project management methodology is used by the organization to develop the own structure (Todorovi? et al. 2015). The author noted that the use of Prince2 methodology is most effective if they appropriately tailored it. With this, the organization adopts a more flexible methodology of project management that are develop with a specific nature to deliver project successfully. According to the author, the organization must set a budget, achieve goals, which the client accept later with the design of the project (Chaves et al. 2016). The success criteria can be considered when the organization adopt and develop the methodology of the project management. Moreover, another author later adopted this (Vigneau, Humphreys and Moon 2015).

Role of Project Manager in Stakeholder Management

If the expectation of the stakeholder is ignored then it has a negative impact on the project, which delays the deliveries. If in any case the project fails in completion, it also has the impact on the stakeholder (Golini, Kalchschmidt and Landoni 2015). Suppose that an organisation need some resources to run a planned project. In that case, the employee manage to positively meet the expectation of the HR manager and in return get a soft support back to meet the exception. On the other hand, if the expectation is not meet the result can be vice versa. Therefore, it is important to achieve success in the project and for that, it is necessary to identify a stakeholder. When any problem or changes arise in the project, stakeholder will be able to manage the impact of it. The product manager will fill any requirement of the stakeholder for the implementation in the project. If the project manager takes care of the requirement of the project to the entire stakeholder, then the project will be in balance. The communications of the team member to get stronger is necessary (Marcelino-Sádaba et al. 2014). This helps the team to effectively work for the project. This communication should be done at the initial stage in advance before starting the project. Therefore, in this way, it will be easy to manage the team globally and time consumption will be less. The problem of communication can effectively reduce through a well-discussed report format namely MS-Excel, WS-Word or Power Point with the identified stakeholder. By adopting the reporting system, the project manager can view the work status, progress report in accordance with the right format that is required by the stakeholder.

Evidence provides an advantage if the organization able to successfully identify the external and internal stakeholders (Farooq, Rupp and Farooq 2017). The project manager monitors the expectations to align the project requirements, maintain quality planning, cost of the budget. All this will balance the expectations of the stakeholder. On the other hand, the major disadvantage for any organization is when they miss the expectation of the stakeholder. The stakeholder is the backbone of the project (Edkins and Zerjav 2014). The project cannot run smoothly without the involvement of the stakeholder. In that case, the organization will face a big trouble for their project. This has the impact on the schedule, timing and the pricing that has an unacceptable scope.

Case Study: PRINCE2 Methodology

An organization can use Prince 2 methodology to manage the project. According to the author, this methodology can offer structured feature depending on the project nature (Tomanek and Juricek 2015). And this could be a good practice for those people who are involve in the project as it contains seven set of principles shown in the figure 1 below.

Evidence provide that tailoring is one among the seven principles in Prince2 methodology that suit the size and type of project, and the project complexity, importance and the environment of the project. For any specific environment to adapt an overall method, the project team can use the Tailoring methodology. Prince2 has some relevant features that identify the structure of the management, control procedure set, and a system planning. According to the research done by the author, Pricnce2 foremost support includes progress monitoring to help the manager (Clemente 2015).

Principle	Definition
Justification of business to continue	The project of PRINCE2 has continued with the justification of the business
Learning from the experience	The project teams of Prince2 learn from experiences previously ( lessons are acted upon, recorded and sought throughout the project life
Stage management	The project of PRINCE2 is monitored, planned and controlled on the basis of stage-by-stage.
Products that are focus	The project of PRINCE2 focuses on delivery and definition of the products in the quality  of requirements
Exception Management	The project of PRINCE2 defines the project objectives tolerance that establish the limitation of the delegated authority
Defining the roles and the responsibilities	The project of the PRINCE2 agreed and defined the responsibilities and the role with the structure of the organization in which the business is engage with the stakeholder interest of user and supplier
Project management is suit by tailoring	Tailoring the methodology of PRINCE2 suit the size, complexity, environment, importance risk and capability of the project

Conclusion

The knowledge gain through the learning of the project management methodologies has enable organization to approach and manage the project delivery (Joslin and Müller 2015). With this report, it has concluded that, the organisation can minimize the risk, helps delivery on time, with a quality and cost effective budget of the project. Evidence has shown that the structured methodology used definitely going to deliver a successful project. The study has make understood that the stakeholder is the backbone of the project. The project cannot run smoothly without the involvement of the stakeholder.  it is important to achieve success in the project and for that, it is necessary to identify a stakeholder. When any problem or changes arise in the project, stakeholder will be able to manage the impact of it. Finally Prince2 has justified a relevant features to manage the project which is a good practice for those people who are involve in the project as it contains some set of principles.

References

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