Project Management
Essay Preview: Project Management
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Article Review
Megan Preuss
The Ohio State University defined project management as “the application of modern management techniques and systems to the execution of a project from start to finish, to achieve predetermined objectives of scope, quality, time and cost, to the equal satisfaction of those involved.” Planning is an integral part of any business and it is the basis of project management. In order to do any sort of project, the company must first plan, discuss an objective, and lay out the important aspects of the project. Many companies struggle with their project management, and therefore have problems with planning.
The two articles I read were found on Lexus Nexus, and both focus on the need to strengthen project management aspects in different companies. The articles are in agreement that “companies should enhance project management capabilities to achieve business objectives and maximize investments.” They agree that with better project management companies will be more efficient.
The first article was a synopsis of project management’s effect on businesses. It claims that the “lack of project management skills often leads to failure in corporate endeavors.” The article explains a company called Integrated Project Systems or IPS. IPS has project management implementation services that are designed to help their clients in implementing budgets and scheduling tasks. Because companies often waste time and money when using poor project management, IPS is working to incorporate project management into their clients establishments. When there is a lack of project management companies spend 50% more than budget and go beyond schedule by 70%. Another issue with these companies is that they start projects that don’t need to be done, or they fail to work on projects that are important to the future of the business and their relationship with their clients.
Another firm mentioned in the article was the nonprofit organization called the Project Management Institute. They have a simpler definition of project management, saying it is “the application of knowledge, skills, tools and techniques to meet requirements.” With mention of this company the article then talks about the project team. The project team is the group of people that define the project objectives and focus on the scheduling, scope, and costs involved. In project management groups, there needs to be constant communication and understanding between the members and between the members and the project manager. According to the article, another reason that companies fail to focus on project management is the “desperate need for team collaboration”
Microsoft is also mentioned in this article for their new program, Project Server 2002. This program is described as “a suite of management and implementation solutions to support business professionals, project managers, consultants, executives, IT professionals and project team members.” Project Server 2002 will help businesses be more creative in their project management while realizing better results and achieving higher production. This will also help then heighten their customer service. The program is targeted to manufacturing, construction, financial services, telecommunications, and governmental companies.
The second article focuses more on the project management in firms in South Africa. It claims that the South African government is trying to integrate better project management into their processes. Their project management