Compose an essay. Your essay should meet the following criteria: 1.Define a proj

Question

Compose an essay.

Your essay should meet the following criteria:

1.Define a project.

2. Describe at least three characteristics that help differentiate projects from other functions carried out in the daily operations of the organization.

3. Explain why project management is often used to train future senior executives.

4. Discuss at least two detriments to project success. Discuss the importance of project implementation to strategic planning and the project manager (PM).

Your paper should be no less than three pages in length.

Explanation / Answer

Answer:

Project:

A project is a sequence of unique, complex, and connected activities having one goal or purpose and that must be completed by a specific time, within budget, and according to specification.

Features of Project that separates from other operations:

A clear termination point (temporary).

Might be part of a broader program.

Projects are unique

The main virtue of a project involves in identification of a nice, neat work package within a bewildering array of objectives, alternatives, and activities.

Mostly used as a means of implementing strategy. - Progressively elaborated i.e. scope and details of the projects evolve as one undertakes the project even though distinguishing features of the project stated initially.

Answer 3:

With economic pressures looming over the world, most executives are probably seriously pondering how to manage the impact of outside forces on their business results. Just as with individual consumers, who are “tightening their belts” right now, it isn’t surprising that many organizations, even those that may be economically healthy, are seriously considering whether or not to cut fixed spending with layoffs.

While the dictate from the top may be to reduce the workforce numbers, once the shake-out occurs, organizations will be facing a tough challenge to preserve output, deliver their strategic and operational plans and stay poised to meet increasing consumer demand once the economy turns up. That is why clients are counting on Project Management to get them through this period of uncertainty and making an extra effort to invest in Project Management coaching, training and Project Auditing to prepare for the future. This why it is important to train and coach future business executives for project management.

Here are some of the benefits of professional project management for future senior executives:

Future Senior Managers can benefit from better use of company resources, more attention to risk management, better project cost and schedule estimating and better project monitoring and control. Conducting Project Audits and Health Checks helps senior managers to pin-point the core reasons for lack of project success, enabling them to immediately put in place actions which will improve project performance.

Future Senior Functional Managers can benefit from the improvements in processes realized through project management and better allocation of resources—both people and monetary—as well as expansion of the organizational retained best practices. Better utilization of resources and improved systems of tracking the allocation of their resources across a number of projects helps improve staff efficiency and effectiveness.

Stakeholders receive earlier notice to “red flags” or project problems that may be indicators of more trouble to come as well as better quality planning, quality assurance processes and quality acceptance steps, which are critical in today’s competitive and transparent vigilante consumer environment. Additionally stakeholders are able to better contain costs, scheduling and budgeting with professional project management. Project risk assessments such as a Project Audit or Health Check help to identify the early warning signs of potential problems which might affect stakeholders, ensuring they put in place contingencies to better manage these risks, reducing any negative impact on their key customers.

Project Managers and Team members experience much improved productivity of work by applying sound project planning processes. This is a result of clearer understanding of their roles and responsibilities, better definition of their work requirements and less rework. Team work also provides each individual the freedom to focus on the activities most aligned with their talents and passion. They’ll experience a reduction in stress and increase in a sense of control over what has to be done, why it has to be done and by when.

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