Project Management

ProjectManagement

StudentName’s

  1. Why do you think that the project matrix (or projectized) organization is preferred amongst project managers? How can an organization work toward implementing a projectized environment?

Aljaž(2012)notes that, project matrix is preferred amongst project managersbecause resources are shared across multiple projects withinfunctional divisions. This reduces duplication of effort as seen ina projectized structure. He also notes that a stronger focus onprojects due to having a designated project manager can help tosustain a holistic approach to problem solving which is often lackingin the functional unit. According to Ahjaz (2012), matrix structuregives for flexible utilization of expert skills and resources whichare set in the organization. Depending on matrix culture and culture,the important units may give individuals who are entirely under theproject manager while engaged to the project. In most times, thefunctional manger monitors and manages all the contributions to theproject (Aljaž,2012).Potential weaknesses in matrix structure are due in great part thatit creates multiple bosses over functional resources which is afundamental exit from the traditional hierarchy system of authority.The managers who are not instructed to a project style organizationcan find it impossible to give up with the project manager. However,according to Aljaž(2012),organization can work towards a matrix environment by recognizing thelegitimate authority of the project manager (Aljaž,2012).The functional manager ensures the project tasks will be assigned andcompleted per the project schedule and per the promptings of theproject manager (Aljaž,2012).

  1. Why do you think it is important to have a formal approach to calculating reserves? What impacts can you think of that arise when a formal approach is not taken?

Glasher(2010) suggest that, the cost is another vital factor in theachievement of the objectives of the project. The cost of managementincludes an analysis of the resources required for successfulachievement of the project objectives and the cost of purchasingthem. Usually, costs are calculated in monetary units like in dollarsand among others. According to Glasher (2010), the following commonneeded processes are explained by PMBOK as ensuring what theresources and projects are completed within an approved budgetestimates. Thereshould be a planning of resources and determination of the quantityof resources necessitated in order to be applied in cost estimating.Tocomplete a project cost budgeting, there is need to come up with aprojection of required resources and cost. Afterward, the projectmanager is ought to allocate funds in distinct units according totheir projection. Thesum total of this becomes the project budget (Glasher, 2010

  1. Notice Marchewka`s comment in my post. In addition to cost overruns, he states that organizations also have schedule overruns. What do you think the correlation is between being over budget and being late on your project schedule? Do you believe that they go hand in hand? Explain your answer.

Ho(2010) noted that, software development kicked off in 1990s, but tillnow, the efficiency to ensure successfulness hasn’t been uncovered.Ho (2010) notes that, the realistic of budgets together with anongoing steam of requirements changes factors of high risk. TheStandish Group in 1994 noted that approximately 31% of corporatesoftware development projects were cancelled before completion and53% were challenged and cost 180% above their original estimate (Ho,2010). Limberg in 1999 found 20% of the total cost and scheduleoverruns or gradually reduced functionality too (Ho, 2010). Later,Glas revisited the projects that failed and discovered that theestimation was so poor in his list of failure. However, Ho (2010)used Standish Group research findings that was conducted in 2007, andfound that 35% of 2006 projects were successful when compared withonly 16% in the corresponding 1994 report. Even though, StandishGroup research still identifies 46% (53% in 1994) of projects stillhas difficulties and 19% (31% in 1994) as outright failures (Ho,2010). In my opinion, this indicates that, more time or cost overrunsuser’s requirement

  1. Can you think of a situation in your professional career where you think it would have been beneficial to consult your expertise before implementing a project? Have you ever been the recipient of a project implementation without even being aware that you were going to be effected?

Excellentproject management does not ensure project success. However, withoutadept project management, the risks of failure skyrocket,particularly for large projects. The foundational components ofproject management are the project`s charter, plan, and statusreport. The project plan provides the details of task, phases, andresources needed, by task and phase and timeline. The project statusreport documents and communicates the status of the project. Inaddition to these components, projects should have core means forproject governance and management. This steering committee should beexpected to resolve issues and address risks that cannot be handledby the project team. It should also manage communications withorganization leaders and the project team

  1. What do you think the benefits of a lesson learned session provide for an organization? How can you (as a project manager) ensure that a project doesn`t close out without this session being completed first?

Accordingto Carpa and verner (2009), projects do not fail for one single reason alone they fail for multiple reasons. These findingsagree with other researchers who noted that there are generally more than one or two reasons for a software project to fail, and it is usually a combination of several factors. Acommon problem with our failed projects is inadequate requirementswhen the delivery decision is made (73%). The customer did not spendenough time with developers to define the requirements properly thiscan lead to unrealistic expectations. Then, because the initialrequirements are poor, it is not surprising that there are scopechanges during the project.

  1. Would you find any value in applying the SMART methodology to you project planning? What aspects of it would you find useful?&nbsp

Accordingto Gresch (2010), everyone is regularly involved in a project of onekind or another, whether it is a monitoring systemreplacement, a backyard undertaking, or just getting our taxes done on time. As part of the planning, it can be helpful to develop a sub plan for each task to determine the cost,duration, dependence, required resources, and milestones for thatparticular task. Be SMART about planning your project: Specific,Measurable, Agreed to, Reachable, Timely.

References

Aljaz,S. (2012). The impact of a project organizational and team rewardingon project performance. Journalfor East European management studies.Vol. 17, No. 1 (2012), pp. 40-67.

Carpa,N. Verner, J..M (2009). Why did your project fail? Communicationsof the ACM,52(12), 130-134

Glaser,J. (2009). Strategies for ensuring an IT project delivers Value.HealthcareFinancial Management: Journal Of The Healthcare Financial ManagementAssociation, 63(7),28-31.

Gresch,A. (2010). Five simple steps to project planning. BiomedicalInstrumentation &amp Technology / Association For The Advancement OfMedical Instrumentation , 44(4),297-298.

Ho,J. (2010). Project management in health informatics. StudiesIn Health Technology And Informatics, 151,413-424.