Organizational Strategy Project Selection †Myassignmenthelp.Com

Question: Discuss About The Organizational Strategy And Project Selection? Answer: Introducation Project Management is a discipline that includes the guidelines and activities for the successful initiation, planning, execution, control and closure of the project to allow it to achieve its goals and objectives. It has emerged as a discipline in the recent years and has become a mandate for the projects that are carried out in the business organizations in the current times (Guerin, 2012). Project Management does not only confine to the management of the project team members and providing them with the guidelines to proceed with the project related activities. It, however, includes a number of sub-activities and processes such as scope management, risk management, time management, budget management, human resource management, change management, configuration management etc. Communication activities along with the establishment of communication strategy are also one of the important tasks that come under Project Management. The need and significance of Project Management has immensely increased in the last few years. The primary reason behind the same is the expansion of the business organizations in terms of their business activities, customer base, line of businesses and the number of projects that they deal in. Earlier, the business units were confined to a single line of business dealing with similar projects that did not have major variations. However, in the current time, every project that is undertaken by a business unit has its own success criteria, project scope and objectives along with the nature of business (Longman, 2004). Because of these reasons, it has become required to have a dedicated discipline and a methodology in place to manage all the components of a project. Technological advancements are also one of reasons behind the requirement of Project Management in business. Apart from the human resources, there are various automated tools and applications that are used during the timeline of the project. These automated tools are necessary to be tactfully managed which is made possible through the implementation of a Project Management methodology. A project has a lot of elements, resources and activities involved which are required to be collaborated with each other. Due to the involvement of such varied entities, there are scenarios of disputes and conflicts that usually arise during the life cycle of a project. Long-term existence of such issues may have adverse impact on the project progress and project success. Project Management has a role to play in this regard as well. It provides the Project Manager along with the other top-level management resources to resolve the project disputes and conflicts and take necessary steps of action (Verma, 2008). There may also be several risks and threats that may emerge during the project life cycle. These risks may fall in different categories such as operational risks, technical risks, managerial risks, security risks and likewise. Project Management methodologies provide a mechanism to identify these risks and develop strategies for the treatment of the same (Silvius and Schipper, 2 014). Project and system documentation is one of the areas that are often paid less attention. However, in the modern day business organizations, it has become necessary to keep a track of all the projects that are executed. Also, the project client also demands these project documents on a regular basis. Project Management methodologies provide different mechanisms that may be used to develop the required project and system documents. Customer satisfaction is the prime goal of every project that is associated with any of the business organizations. Project Management allows the project phases to be executed smoothly in order to meet the deadlines and also ensures continuous delivery (Hornstein, 2014). As a result, the level of customer satisfaction rises and the reputation of the business organization also improve in the market. In the current times, every business organization aspires to gain a competitive edge in the market. It has become necessary to offer certain unique services and solutions to the customers. Also, the qualities such as reliability, performance, availability, supportability, maintainability and scalability have also become equally important. All of these requirements are fulfilled with the aid of the application of an accurate project management methodology. Various methodologies such as Project Management Body of Knowledge (PMBOK), Projects in Controlled Environment (PRINCE2), agile methodology for project management etc. have been developed to allow the business units to manage their respective projects efficiently (Newton, 2015). References Guerin, D. (2012). Project Management in the Construction Industry. [online] Available at: https://projectmgmt.brandeis.edu/downloads/BRU_MSMPP_WP_Mar2012_Construction_Industry.pdf [Accessed 3 Aug. 2017]. Hornstein, H. (2014). The integration of project management and organizational change management is now a necessity. [online] Available at: https://fenix.tecnico.ulisboa.pt/downloadFile/845043405428940/13%20The%20integration%20of%20project%20management%20and%20organizational%20change.pdf [Accessed 3 Aug. 2017]. Longman, A. (2004). Project management: key tool for implementing strategy. [online] Available at: https://pdfs.semanticscholar.org/432e/2e5a6fdcdea38f175c9400b5d8e3da0d0056.pdf [Accessed 3 Aug. 2017]. Newton, P. (2015). Principles of Project Management. [online] Available at: https://www.free-management-ebooks.com/dldebk-pdf/fme-project-principles.pdf [Accessed 3 Aug. 2017]. Silvius, A. and Schipper, R. (2014). Sustainability in Project Management Competencies: Analyzing the Competence Gap of Project Managers. [online] Available at: https://file.scirp.org/pdf/JHRSS_2014060310032620.pdf [Accessed 3 Aug. 2017]. Verma, V. (2008). Conflict Management. [online] Available at: https://www.iei.liu.se/pie/teio12/allmanna_filer/1.171778/conflManagementVerma.pdf [Accessed 3 Aug. 2017]