Project management is acknowledged as the most efficient corporate instrument at present. Creating and developing a project from its inception to its realization is the process of project management. It is feasible to resolve complicated issues of an industrial, scientific, and social character by using such a management system. Several factors hinder the project’s success and lower its quality. However, a project can still be finished on time by implementing critical aspects of project management. For example, a project aiming to address performance requires planning specific performance measures and following an exact 4-week intervention schedule. Moreover, monitoring the performance numeric variables and execution and controlling how the aim has successfully or negatively impacted the workplace is essential. As a result, successful project management implies the implementation of specific techniques and practices.
The Major Aspects of Project Management
Planning
The main aspects of Project Management are planning, scheduling, monitoring, and controlling. The first aspect is project planning, during which the project manager takes choices, establishes priorities, and assigns tasks and resources. The problem to be solved, scope, deliverables, risks, and dependencies should all be covered in the project plan (Pace, 2019, p. 57). Without a project plan, participants lack a clear understanding of how and when everything will be completed.
Scheduling
Scheduling is one of the most challenging components of project management. Project time management aims to plan, regulate, adapt, analyze the work schedule, and reserve work from the perspective of the project’s on-time completion (Pace, 2019, p. 57). The concept of time management includes allocating the project’s time to its many phases of completion, creating schedules for the project’s execution and the completion of each component, and ensuring that these plans are followed.
Monitoring and Control
The process of tracking, assessing, and regulating project performance to accomplish the objectives specified in the project management plan is known as project work monitoring and control. Monitoring enables the comparison of provided and actual project planning and execution data. Monitoring is used to detect problems early, display operations, expenses, and resources employed, enhance project work, evaluate project management effectiveness, cut costs, identify errors, understand their causes, and inform stakeholders (Pace, 2019, p. 57). Control comprises coming up with preventative or corrective measures, re-planning, and evaluating plans to see if the problem was resolved due to the actions performed.
Obstacles and the Solution
Planning, scheduling, monitoring, and control must be implemented for the project to be successful. However, a project’s success may be hampered by various issues. The successful completion of the project can be impeded by “scope creep” when the client changes, adds requirements, or asks to fix something regarding the work. Unexpected circumstances, misunderstandings, malfunctions, and several other challenges can compromise the implementation of new practices, techniques, and objectives. To solve the project-related problems and finish on time, the manager of General Foundry Inc., Lester Harky, used the PERT approach, which allows for building and monitoring schedules to help avoid delays (Render et al., 2018, pp. 388-390). The PERT technique is a project management planning tool used to determine how long a project will take to finish. It aims to finish projects on schedule, under budget, and provide a precise estimation of their scope. Moreover, the PERT strongly emphasizes timing, which maximizes performance and cuts expenses. The effects of unanticipated circumstances can be prevented in this way.
The analysis highlights that project management consists of four major parts: planning, scheduling, monitoring, and controlling. The planning phase determines the scope, tasks, and risks and serves as guidance to the workers. The scheduling stage involves the distribution of the time spent on each component of the project. The monitoring aspect includes keeping track of the project’s development and identifying issues, while the control aspect is responsible for solving those issues. There might be many reasons for a project to fail or be late: cost cuts, deadline compression, and scope creep. However, with a proper strategy, the project can be completed successfully.
References
Render, B., Stair, R. M., Hanna, M. E., & Hale, T. S. (2018). Quantitative Analysis for Management (13th ed.). Pearson.
Pace, M. (2019). A correlational study on project management methodology and project success. Journal of Engineering, Project, and Production Management, 9(2). 56-65. doi:10.2478/jeppm-2019-0007