The short and long-term objectives of a project should be analyzed before examining possible implications on the resources to be involved for its completion. It is critical to examine the budgetary provision, expected efficiencies for the project, and draft a schedule to meet the project deadline and limit risks during implementation.
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This paper seeks to establish project management, process, and roles with a focus on aiding interns understand how to limit risks in a project.
One of the most important aspects of effective project management is effective communication. Accordingly, communication planning in different levels of project development forms the core of its ability to be carried out smoothly (Pearce & Robinson, 2013).
A well-planned communication is a two-way mode system with established direct and negative feedback systems to assess the effectiveness of the operations of a project, propositions, and requirements.
In project management, communication is especially critical since management requires getting in touch with a workforce. Lack of proper channels of communication to efficiently bridge departments and workers with top management affects the progress of a project.
Project managers, middle managers, and foremen play a major role in providing the required communication between the top management and workers. A strong hierarchical mode of operation where communication is established highly enhances efficacies in project operations.
Planning is therefore critical for better and effective communication that management should take into consideration at all levels of project development.
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Program Cost Budgeting
To effectively complete a project, it is imperative for a project manager to develop a budget that will ensure project costs are met.
It is critical to first identify possible uncertainties that may arise from the lack of a program cost budget. Besides, the short and long-term objectives of the project should further be analyzed before examining possible implications on the resources to be involved for its completion; a consideration leading to cost–related and economic effects risks.
At this point, it would be critical to examine the budgetary provision in establishing uncertainties on its funding. Notably, this step should also incorporate professionalism. Quality Assurance
Due to the sensitive nature of a project, the determination of quality assurance before commencement is crucial (Thiry, 2010). As a result, prior analysis of all quality standards should be examined.
Quality assurance analysis is prudent in decision making. In addition, the mitigation measures to be executed should be established to create the needed emphasis on quality assurance. Besides, availability of resources, monitoring, and assessment is paramount in providing the required quality.
Effective planning of resource allocation and use is one of the best methods of providing cohesive structures that facilitate easier examination of options.
Resource planning should be effected in the whole project by considering all the possible alternatives and drawing outlines from risks. Thereafter, a resource plan should provide a description of resource details and allocation as well as costs.
Most importantly, costing is done to gauge efficacy. A resource plan, therefore, comprises of resource analysis, cost of choice of resource, its probability, and expected efficiency. Besides the market reaction to the project is important.
Program Schedule and Management
Program based schedule seeks to facilitate effective achievement of the established objectives in project management.
Factors related to the time provided for the project would be a very critical factor in establishing a realistic time frame. By considering the available time, a project program schedule would be seen as a factor of the project as opposed to an external entity. Besides, the schedule should factor in the available resources for the project.
At this point, the cost-effectiveness, risk reduction, and prevention consideration should be intrinsically considered. In addition, an effective management team ought to be put in place to ensure the schedule is adhered to.
Program Scope Planning and Control
Understanding the scope of a program is critical for planning and controlling project activities.
An effective control process is critical as it ensures that a project plan, goal, and expectations are met. It also provides an effective mechanism for addressing different risks. This is crucial as it serves as the main guideline for the whole project.
In project management, program scope planning and control creates a platform for key assessments and possible reduction strategies for risks identified for the project. Besides, it ensures set standards of risk reduction are met and therefore making the key objective of a project possible.
Scope planning as a process ensures all activities and operations of a project are conducted within the established budgetary allocation in minimizing or addressing all the risks in the project (Project Management Institute, 2013).
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Program Risk Analysis
To effectively meet the objectives of the project, a project manager should understand and make clear the description of the project. This includes an effective risk identification strategy that covers all areas of the project implementation.
It is imperative to constitute a holistic analysis that can establish a risk occurrence probability. In addition, mitigation or a reduction strategy should be incorporated with a final outline for monitoring risks.
Effective project management incorporates risk management, scope planning, control, and communication. Besides, resource planning and program cost budgeting are important in project decision making and important in facilitating holistic acceptance of project management requirements.
Control-This will help mitigate the risks by early identification and an effective follow-up to facilitate articulation of the established strategies.
Pearce, J. A., & Robinson, R. B. (2013). Strategic management: Planning for domestic & global competition (13th ed.). New York: McGraw-Hill/Irwin.
Project Management Institute (2013). The standard for program management. (3rd ed.). Newtown Square, PA: The Project Management Institute.
Thiry, M. (2010). Program management (fundamentals of project management). Surrey, England: Gower Publishing, Limited.