Discuss about the Project Management and Innovation in Process Industries.
Project management approaches and tools play an important role in accomplishment of the projects. It helps to address the dynamic external factors and internal constraints of the project. Hence, it is important for the project team to understand the different approaches of project management and the elements that either complement or integrate each other for better project management and project delivery (Wysocki, 2009). The paper has been developed to present a literature review to analyse strengths and weaknesses of three different project management approaches. Furthermore, the study will present the elements of project management tools to discuss their advantages and disadvantages.
Through the survey of the previous literature, three of the best project management approaches have been identified as discussed in the following section.
According to the traditional approach of project management, the goals and scope of the project remains fixed till the completion of the project. The project starts with initiation of the deliverables that leads to project planning and design. The plans and designs are prepared by considering various assumptions (Rose, 2014). After the completion of planning and design, the project control and monitoring phase starts in which the project team keeps a tight watch on the activities of the project to check whether the project is progressed according to the milestones. The project is executed to check the quality of the deliverables. Finally, the project completion reports are prepared to complete the project.
Strengths
Weaknesses
The Critical Chain Approach is used in projects that have certainties of hindering constraints. It is assumed that at least one process will create problem in completion of the project. Hence, a critical path is developed to mitigate those constraints and a separate plan is prepared to overcome the constraints. According to this approach, at first the constraint is predicted, then analysed and at last the constraints are removed (Redway, 2015). Previous data and information are used to minimise the chances of occurrence of such assumed constraints. Hence, it is a scientific approach of project management that involves behavioural study and mathematical calculations to identify the impact of the uncertainties and ways to mitigate them.
Strengths
Weaknesses
Extreme Project Approach is mainly used to handle dynamic problems like changing demand of the customers. It involves continuous process of planning and re-designing. Hence, there is a need of flexible project management strategy that could be helpful in meeting the dynamic uncertainties during the project (Maylor, 2015). It is important to note that there are certain projects that does not have proper clarity regarding the requirements and needs proper market research. An extreme project approach is primarily used to conduct project with high level of uncertainties.
Strengths
Weaknesses
Comparing the above mentioned project management approaches, it can be seen that traditional approach is mainly used for static projects that do not involve much uncertainties (Lefley, 2014). On the other hand, critical chain approach is used for conducting projects that involves critical activities. In the case of extreme project approach, it is only used for dynamic projects that involve changing desire of the stakeholders and high level of uncertainties (Lefley, 2014). Hence, it is important for the project team to understand the level of uncertainties involved in the project while choosing the best and suitable approach of project management.
Through the identification of the three significant project management approaches, some of the supportive elements of project management tools and techniques have been discussed in the following section to create substantial argument.
PERT has been identified as one of the most significant statistical tools that can be precisely utilised in project management (Desmond, 2014). The PERT has been critically designed by the US Navy to analyse project tasks and deliverable.
Strengths
Weaknesses
Work Breakdown Structure is one of the crucial project management tools to plan out major tasks and activities in a structural way. Breaking down the crucial tasks attached to the project management, such instrumental tool can help to manage the tasks in an efficient way.
Strengths
Weaknesses
Gantt chart can be identified as one of the significant project management system tools that deliver a visual representation of scheduled tasks effective for project leaders and project team members. Gantt charts can deliver a firm control on the time management to complete the tasks according to the given limit.
Strengths
Weaknesses
Each of the project management tools and techniques has significantly played its part in a project environment. The identified project management approaches have distinct features to evaluate project derivatives. PERT technique has been associated with critical path analysis of a project management (Xie & Zhang, 2013). Such efficient project management tool can create significant visual communication among the team members creating interdependent relationships. Apart from that, PERT technique has provided efficient resource planning to mitigate any issues attached to the project tasks. On the other hand, Work Breakdown Structure has accurately figured out project deliverable and tasks to be achieved.
By identifying the same, WBS has broken down the tasks into manageable smaller units (Bajgoric, Altinel, Draman, & Ünal, 2012). Along with that, the technique has identified detailed cost estimation according to the time assigned to complete the entire project. Moreover, WBS can contribute to risk identification to reduce the risks to a manageable position. Lastly, Gantt chart has efficiently provided a visual representation of the project tasks following the timelines. Through the identification of potential events in the Work Breakdown Structure, Gantt chart can evolve the contemporary task management system establishing significant completion of tasks (Müller & Söderlund, 2015). However, the efficiency of Gantt chart has been limited to smaller projects. The flexibility of scheduling has been considerable for selecting Gantt chart as one of the most instrumental project management techniques in modern project management. However each of the tools and techniques has supported the above-identified approaches to deliver suitable project management outcomes.
Conclusion
At the end of the discussion, one must develop a significant conclusion on the linkage between the identified project management approaches and the project management tools. Efficient project managers have recognised the size of a project and scheduling arrangement before selecting most sustainable approach for delivering effective outcomes. Therefore, the contemporary project management ideas must be set up based on the most effective project management tools. Herein, both of the identified tools such as PERT, WBS and Gantt chart can deliver significant direction to complete an entire project within the given scheduling and budget. Most of all, Gantt chart can be identified as the most significant tools of the three as the flexibility of scheduling can be included within the project according to suitability. In a given scenario, each of the three project management approaches can be taken into consideration based on the requirement of a project.
References
Bajgoric, N., Altinel, I., Draman, M., & Ünal, A. (2012). Some aspects of using CASE tools in a Fusionâ€Âbased application development project for production optimization. Industr Mngmnt & Data Systems, 102(8), 463-471. https://dx.doi.org/10.1108/02635570210445899
Colin, J. & Vanhoucke, M. (2015). Developing a framework for statistical process control approaches in project management. International Journal Of Project Management, 33(6), 1289-1300. https://dx.doi.org/10.1016/j.ijproman.2015.03.014
Collyer, S. & Warren, C. (2009). Project management approaches for dynamic environments.International Journal Of Project Management, 27(4), 355-364. https://dx.doi.org/10.1016/j.ijproman.2008.04.004
Desmond, C. (2014). Project management tools. IEEE Engineering Management Review, 42(4), 11-12. https://dx.doi.org/10.1109/emr.2014.2364656
Gelbard, R., Pliskin, N., & Spiegler, I. (2012). Integrating system analysis and project management tools. International Journal Of Project Management, 20(6), 461-468. https://dx.doi.org/10.1016/s0263-7863(01)00044-8
Gergert, D. & Ponomareva, T. (2015). Project Stakeholder Engagement: Theoretical Approaches Review. Russian Journal Of Project Management, 4(1), 30-38. https://dx.doi.org/10.12737/8013
Gray, R. (2007). Alternative approaches to programme management. International Journal Of Project Management, 15(1), 5-9. https://dx.doi.org/10.1016/s0263-7863(96)00014-2
Howes, N. (2011). Modern project management. New York: AMACOM.
Kerzner, H. (2011). Project management. New York: John Wiley.
Lefley, F. (2014). An assessment of various approaches for evaluating project strategic benefits.Management Decision, 42(7), 850-862. https://dx.doi.org/10.1108/00251740410550925
Maylor, H. (2015). Project management. Harlow, England: FT Prentice Hall.
Müller, R. & Söderlund, J. (2015). Innovative approaches in project management research.International Journal Of Project Management, 33(2), 251-253. https://dx.doi.org/10.1016/j.ijproman.2014.10.001
Raz, T. & Michael, E. (2011). Use and benefits of tools for project risk management. International Journal Of Project Management, 19(1), 9-17. https://dx.doi.org/10.1016/s0263-7863(99)00036-8
Redway, A. (2015). Management Tools—Project Planning Procedures. Industr Mngmnt & Data Systems, 85(9/10), 7-11. https://dx.doi.org/10.1108/eb057412
Rose, K. (2014). Personal Effectiveness in Project Management: Tools, Tips & Strategies to Improve your Decision-making, Motivation, Confidence, Risk-taking, Achievement and Sustainability.Project Management Journal, 45(2), e1-e1. https://dx.doi.org/10.1002/pmj.21398
Wysocki, R. (2009). Effective project management. Indianapolis, IN: Wiley Pub.
Xie, H. & Zhang, A. (2013). Approaches and Processes of the Project Management. AMR, 790, 724-727. https://dx.doi.org/10.4028/www.scientific.net/amr.790.724
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