Project management is a process that involves planning, organizing, leading, executing, controlling and reporting a project through resources. A project is defined as a short-term activity that is intended to produce an exclusive result, service or product. The process is performed by effectively and efficiently applying the required knowledge and skill. The primary aim of the project management is the fulfilment of the given object within the provided or available constraints. The purpose of project management is to deliver a complete project that complies with the client objectives (Larson et al. 2014). To understand the application of project management the following section discusses about a successful project followed by a failed project along with reasons for the project failure. The next section discusses about the constraints of the project such as project scope, budget, schedule and explain the triple constraint concept of the project management triangle. Finally, the project discusses about requirement for different management styles within project management.
OnePlus has become one of the most successful phone through the world. Hence, the project of OnePlus can be called a great and a successful project. The phones are of good quality and very low price compared to other brands such as Iphone or Samsung, and with almost similar feature. Moreover, due to company’s good and popular marketing strategy people are getting associated (Blogs.cornell.edu, 2018).
The automated baggage system project at Denver international airport (DIA) is an example of failed project. In year 1991, DIA had tried and wanted to upgrade as well as remodel its system of luggage check-in and transfer as the system was very time-consuming. The idea was to fix barcoded tag on each luggage item that went through destination-coded vehicles. This would completely automate all baggage transfers and incorporate that in all three terminals and minimise the aircraft’s overall turnaround time.
Reasons for failure: When DAI had given contract to the BAE systems for developing the automated system of baggage handling, then the company had sticked to its non-realistic two-year project schedule and avoided the timelines of BAE project. The project was underscoped and the unnecessary risk had been taken by the management. However, the most adverse decision was excluding airline in the planning decision (Burge and McCall 2015). Thus, the reasons for the above project can be listed as follows.
Project Scope:
Project scope is defined as the set of project features or deliverables that are derived from project requirements. Project scope is a part of project planning that determines and documents a list of project features, functions, goals, deliverables, tasks, deadlines and finally cost and budget. Thus, project scope implies objectives that must be achieved and the work that needs to be done for project delivery (Fageha and Aibinu 2013). In order to define a project scope properly, the following processes needs to be followed.
1) Define the product requirement: Prior to project scope’s determination one must be clear about the product requirements such as features and functions that are required for the website or application and/or software package or product that needs to be developed; speciality that must be incorporated into the design; set of guidelines that needs to be followed and so on (Heldman 2018).
2) Define the process requirement: Process requirement must explain how people interact with the product and how the product interact with the other processes such as the way of data transition or the way business transaction flow. For instance, the requirements of the transaction of a billing process in a particular website application of a company such as the way the transaction must be linked to account or invoices (Inayat et al. 2015).
3) Inclusion of proper stakeholders: If the correct stakeholders do not participate during various phases of project scope then stakeholder confusion can occur at the end of the project scope.
4) Identification of limitations: It is important to specify or mention what will not be done in the project or what is beyond-scope for a project otherwise people will presume or suspect that certain things that were not budgeted for are to be executed.
5) Change management: After defining the project scope, it should not be changed without implementing functions of change management which is done by taking action for addressing the shifting requirements (Cameron and Green 2015).
The management of project scope involves processes which ensure that the project’s scope is exactly defined and mapped. The techniques of project scope management allows project managers to assign the exact work amount required for project completion as well as controls what is part of project’s scope and what is not (Fleming and Koppelman 2016). The project scope management consists of the following processes:
The project scope is characterised as identification of work that is necessary to deliver or complete a project. The project needs to ensure the scope (required work) must be completed within budget and within allotted time. The documentation of project scope describes the project domains, setup the project responsibilities of each project team member and establishes the methods regarding the way the completed work will be examined and approved (Kermanshachi et al. 2017).
A project budget is defined as the main financial document that contains the total amount of financial resources that is authorised and assigned for specific purposes of the sponsored project for an exact time period. The project budget is composed of funds that are required for project implementation and project deliverables. The project budget contains a detailed statement of entire direct and overhead costs, which are required for execution of project objectives (Naldi et al. 2016).
As a separate and independent process, the management of project budget consists of the following series of steps.
1) Development of budget: In this process the project manager develops the cost estimates, identifies the complete amount of money resources that are required for the implementation of all the activities / tasks that are defined as well as stated in schedule and work breakdown structure (WBS). Budget development includes both operating and capital expenses. After completing the required estimation and identification, the project manager defines the fund requirements and sends it in the form of a formal request to the sponsor. The sponsor reviews the requirements and then makes a package decision regarding provision for financial resources and required money. During the decision making process, the sponsor may also consider the initiation document such as business case, project charter, feasibility study. After the decision-making process, the project manager in association with the key stakeholders estimate the required amount of financial resources and develop the project budget template (Marchewka 2014).
2) Use of budget: In this process, the identified financial resources are allocated and the budget execution begins. The project manager must control as well as keep track the budgeted resources to ensure that each task / activity is performed with proper funding and there should not be any shortage of money for the overall project implementation. The proper way to track and control the budget use is to work out and investment plan that explains the acquisition process with reference to the feasibility study. The project manager sends an investment request to the stakeholder for their approval / rejection. In case the request is approved then the manger uses the plan for controlling budget execution. Otherwise, the manager needs to follow the stakeholders’ suggestion and make the required changes to the plan template. This change process may get repeated until the plan gets approved (Beringer, Jonas and Kock 2013).
3) Measurement of budget: In this process, the manager uses the work performance data (such as deliverables’ status, estimates of cost-schedule), the level of cost performance, request for funding requirements to measure or check the appropriateness of the budget. The project manager compares the cost performance with the planned financial resources mentioned in project budget template through forecasting, variance analysis and performance reviews. In the event of any deviations, it is required to perform the change requests and accordingly change the budget. Corrective actions can be prepared by the project manager to send suggestion to the stakeholders for their approval. Further budget measurement and control can be done according to the required evaluations and approvals (Verzuh 2015).
4) Updating of budget: After the approval of key stakeholders for all the changes, the project manager can update and revise the budget sheet and can make alternations to the financial resources’ current breakdown structure. Estimates of cost, resource activity as well as level of cost performance must be updated as per approved changes.
A project schedule is defined as a list of project activities, deliverables, milestones along with intended start and end dates. A project schedule is a timetable that indicates what needs to be done as well as what resources must be used. This indicates is outlined by the start and end dates. In order to evenly distribute work among team members, the project schedule is associatively used with WBS. For better understanding of the project’s current status the project schedule needs to be regularly updated. The project manager will be unable to communicate about the required complete effort for delivery of the project without a proper and complete schedule. The project schedule must be viewed and updated by each project member. The project schedule is the most visible and biggest aspect of project management (Heagney 2016). The processes that are associated with project scheduling are as follows. These processes are chronologically performed.
1) Planning of schedule management: In this process, the methods, policies and documentation that govern production of project schedule is defined. During this process, the factors such as resources, contingencies, task dependencies, organizational methods and stakeholders’ needs to be addressed (Hwang and Ng 2013).
2) Defining activities: In this process, the identification and documentation of the specific actions to be performed for producing the project deliverables. Here the work packages are divided into activities. While determining the activity list the following things must be considered (Nicholas and Steyn 2017).
3) Sequencing activities: After dividing the project into tasks, the relationship between them must be determined. In this task, the identification and documentation of the relationship of the project tasks are performed.
4) Estimation of activity resources: This process estimates the type as well as number of human resources, material, equipment to perform each task. Here resources include labour, tools and equipment, facilities, overpay time, financing costs, contingencies,
5) Estimation of activity duration: There may be case when the required resource may not be available all the time. The project consults a document called resource calendar to confirm the resource availability. This document states the resource availability. Thus, this process determines the number of work periods required for completing individual activities with estimated resources (Ghoddousi et al. 2013).
6) Developing schedule: This process develops the most efficient schedule for the project. This process uses the critical path method to find the shortest possible project completion date (Firouzi et al. 2013).
The project management triangle (PMT) or triple constraint is a project management tool that measures the project’s progress or development. The PMT is used to analyse projects. The triple constraint is a mixture of three important restrictions on any project –scope, cost and schedule. The triple constraint is also called PMT because as shown in the figure of typical triangular model below the three sides of triangle respectively represent the scope, and schedule (time) and cost constraints.
These three constraints are interdependent because none of them can be changed without affecting one or both of the others. The difficulty of satisfying expectations for all three constraints is often expressed as pick two concept. According to this concept in any set of three desired qualities, only two can be delivered. For instance, if the project budget is kept low, then product is likely be of lower quality or it will take longer time.
PMT focuses on the project’s three key constraints and each side of the triangle shows a constraint. PMT reflects that the successfulness of a project depend on the way project manager deals with these constraints (Ebbesen and Hope 2013).
Time constraint: It involves defining, planning as well as rearranging activities orderly and estimation of resource requirements. Schedule preparation to accommodate all these activities is part of time constraint. Project management as well as scheduling software can make the controlling and scheduling activities much easier. The manager must make a plan to define each activity and the period within which it will complete. The manger must arrange all the activities in a well-known order. If this can be done, then the project will be completed before deadline (Catanio, Armstrong and Tucker 2013).
Cost constraint: One big challenge for the project manager is completion of the project within allocated budget. The project finance can be effectively managed by using project management software. In project management, cost constraint focuses on project’s financial aspects such as cost contingency, cost estimation, measures for cost control and so on. Additionally, other budgeting aspects and risk management comes under PMT. The project manager needs to focus on cost control and budgeting in order to complete the project within budget (Catanio, Armstrong and Tucker 2013).
Scope constraint: It includes goals, deliverables and milestones. To keep the project scope under control is quite critical otherwise; project creep will have harmful impact on the project. It is important to ensure that before delivery all the features must be working as defined (Catanio, Armstrong and Tucker 2013).
The drawbacks of the PMT are as follows.
Although PMT will not work for today’s complex projects, still one must stay focused on cost, time and scope of project as explained by PMT to deliver a quality product as well as to save the project from disaster.
There is a need for different management styles within project management as the management style is situational and it depends on following factors.
The different styles of project management are as follows.
By realising the need for change in styles, an effective manager adapts the appropriate style as per the project team or project objective.
Conclusion:
The above report have detailed out the different aspect of project management. The report discusses an example of a great and successful project management followed by an example where project management has been completely failed along with reason for failure of the above project. Next, the report discusses about the project scope, the processes that needs to be followed for defining the project code. Then the report has described project budget by clarifying the concept such as budget development, budget measurement, and budget modification. Further, the report has described the concept of project schedule and the processes that needs to be followed for performing effective project scheduling. Next, the report discusses about the concept of project management triangle, the role of three different constraints that are involved in the concept along with drawback of the above concept. Finally, the report describes the need for different management styles for project management and finishes with a brief discussion on the different management styles. From the above discussion, it draws conclusion that effective project management is a process of continuous improvement, continuous study and learning. Both new and experienced project manager can learn from both the successful and unsuccessful project. From the discussion, it can be inferred that successful application of project management can make the project much more accurate, responsive and effective. The discussion also depicts that project manager must apply different management styles as per the nature and requirements of the project as well as category of project team member.
References:
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