Project lifecycle: The reading for this week described how projects are selected
ID: 413896 • Letter: P
Question
Project lifecycle:
The reading for this week described how projects are selected and introduced a framework "for managing the project, regardless of the specific work involved" (PMI, 2013, p. 38).
Many organizations invest substantial resources in creating their own project methodologies, which are sets of templates, process maps, and procedures that show the normal flow of a project from start to finish. Other organizations have no formal project management methods, and it is difficult for project managers and team members to be certain about what phase the project is in.
If informal project management can get the job done, why do we need fancy methods and processes and terminology? Have you ever been involved in a project that didn’t follow the standard cycle of initiating, planning, executing, and closing? Is it ethical to underplan or overplan a project? Why or why not?
In your comments and responses, please use appropriate PMBOK®Guide terminology when discussing these factors.
Project Management Institute (PMI). (2013). A guide to the project management body of knowledge (PMBOK Guide), (5th ed.) Newtown Square, PA: Author.
Schwalbe, K. (2015). Revised an introduction to project management (5rd ed.) Minneapolis, MN: Kathy Schwalbe, LLC
Explanation / Answer
As the project complexity increases, there is always a need for an organized approach to carry out the project activities. This approach would give an edge in planning, managing and controling the projects.
With formal project management methods, there are less chances of misscommunication as project team uses the same methodology and are much more clear about the scope of the project, team and individual responsibility and cost. Generally, if project management activities are carried out in line with the framework, project time and cost variability can be substantially reduced. Thus, having a formal method to approach a project becomes necessary if not compulsory.Projects framework can be based on predictive, iterative or adaptive lifecycles depending on the type of project undertaken.
Companies where project approach in informal, generally handles simple and uncomplex projects. there also might be a case that similar set of people work on various projects for long. This may create problem if project person decides to leave organization. Thus, informal projects method can get the job done but may not be sustinable and profitable in the long run.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.