Final Paper The final six to eight page paper must demonstrate understanding of

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Final Paper The final six to eight page paper must demonstrate understanding of new learning in the field of project management. It is mandatory to have research from the classroom text, as well as two sources from the internet or online library to support your views. It is recommended to use examples from your professional experience where possible, or build from your learning in the discussion boards. (Suggestion: use at least one project of which you have been either a team member or a project manager as an example to describe the topics below): The following topics must be reviewed in order for the paper to be complete: Define project management and explain its importance to the business world. Explain project life-cycle management and the benefits of project management to an organization. Explain the concepts of planning in the project life-cycle and how research and critical thinking is mandatory in planning. Explain project organizations and the importance of leadership and sponsorship. Explain project team building, including techniques of successful team building. Explain how to create a work breakdown structure and how a project manager breaks down the overall project into packages. Explain the need for project management software in large integrated programs and the benefits to the overall project management organization. Writing the Final Paper

Explanation / Answer

A project can be defined as a series of interrelated tasks with a clearly identified timeline and predetermined costs. Larson & Gray (2011) describe a project as a temporary endeavor with an established objective (pg. 5). Moreover, a project has a start date and an end date, predetermined costs, and involves doing something never before realized. The predetermined timeline encompasses a project life cycle. Overseeing the project life cycle is the foundation for project management. The Project Life Cycle: The individual phases of a project are organized into a project life cycle. The project life cycle is comprised of several stages. The number of stages varies based on the type of project or specific industry . The basic project life cycle consists of four stages: defining stage, planning stage, executing stage, and closing stage. Project life cycle management is a granular approach for controlling the logical sequence of activities as defined by a project scope. Undefined requirements, mis-communication, and lack of sponsorship all contribute to failed projects. A structured project life cycle approach supports a clearly defined scope and objectives while offering the best chance for achieving the project goals. A large percentage of projects fail to deliver because organizations often downplay the importance of project life cycle management. Regardless of the methodology, organizing a project into stages and identifying a project plan derived from a comprehensive project life cycle guarantees success. Project Organization: Once designed, planned, and accepted by management, a project must be organized. Three common project management structures used to implement projects are: functional organization, dedicated project teams, and matrix structure. Projects do not fit within the normal framework of an organization. A project by definition has a predetermined time to live, and therefore in conflict with an organization

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