150 words to each discussion

Discussion 1

Project Management can be defined as the process of achieving the target in a specific amount of time, budget, and resources. It is the application of tools, skills and techniques applied to multiple activities in a project which have mainly 5 steps: Initiating the project, Planning the project, Executing the project, Monitoring and Controlling the project. Project Management is the important process for any company as efficient project management is required to finish the target on time and within budget. Different organizations have different kind of work type and project management plans are also according to them. It has got rapid growth as the need for the implementation of the projects is important for the success. Project Planning is the most important phase of a project lifecycle as it is focused on the output. This is the difficult phase for the project managers as all the estimates need to be planned for the cost, time and resources. It informs everyone in the team and higher management about what is need to be done, how and when tasks needs to be performed. The project plan created during this time is useful to manage time, quality, cost and risk related to the project. The purpose of any project plan is to create and maintain business requirements, predict the list of deliverables its date and cost with resource plans. In this project planning phase once all of this is dine then next step is to have all the approvals from the higher management and client which make it easy to work on the next phases. Every project manager should have skills like planning, communication, delivering results, monitoring risks and managing resource which is very useful in this phase:

• Planning of the Scope – This step defines the business requirements for the project which helps in creating the WBS (Work Breakdown Structure) for the project.This step divides the project in the sub tasks and tasks which explains the efforts of the project. In WBS, first level defines the entire task/project and then sub sections defines its sub tasks. It mainly provide the information of schedule, cost and time estimates.
• Communication – Project Managers must have good communication understanding so that everyone in the team and stakeholders are well informed about the up comings in the project and helps in better project management.
• Delivering Results – When a Project Manager takes a control over a project, the epitome of the task is to finish it on time within a budget finalized with the client and stakeholders.
• Monitoring Risks – Risk management is done to plan the possible risks which may occur in during the project work. It also needs to be documented with identifying new risks and tracking it.
• Managing Resources – It indicates that which resource will work on which task and when as per their skill sets.

One of the most important factor which i liked in the history of project management is the Gantt chart which is still very important aspect of project management as it shows visually the tasks scheduled over time and make things easier for the project manager.

Discussion 2

From this week’s readings, I was able to understand about the history of the project management methods and about the ways of deriving the plausible method for the formulation of the strategy.

In this chapter, there needs to be detailing the project management as it is considered as an important activity which is based on the different careers and also the industries. This chapter tries to explore about the different elements and also the history of the project management tools and also the professionalism.

The first element which needs to be considered in the project management practice is the process of planning. The next factor is the element of communication with the appropriate stakeholders. These are required for the determination and the delivery of the risks. These factors are required for the addressing and also the monitoring of the risks. This will lead to the better management of the resources.

The early methodology which was used was not really well-documented. In the later part of the 19^th century, this started to gain precedence. This lead to the successful completion of the projects and other kinds of large projects. The early part of the 20^th century and the Scientific management was derived to be able to understand about the project tasks and also the progress. During the mid 20^th century, the derivation of the CPM and the PERT methods are used for the identification of the task sequences and also the task dependencies which was about the critical path (Heagney, 2016).

Project Management Body of Knowledge (PMBOK) was formulated based on the ways in which the people need to work together for the meeting of their goals. These skills that are used were basically used for the skills of the others. These methodologies are expressed using a range of tools. These include the documentation of the process, which includes the scientific management, Gantt chart, PERT/CPM diagrams. This is also the Project management body of knowledge.

These are the main elements that need to be considered for the determination of the processes. These will allow for the derivation of the results and the processes that will help in the complete derivation of the answers (Meredith, Shafer, & Mantel Jr, 2017).