Project management Essay Example | Topics and Well Written Essays - 1000 words - 1

Project management - Essay Example This research shows that the project had clear goals but unclear requirements and the frequent changes required rescheduling and resulted in budget overruns. Although the project had budget overruns, it however met the desired outcomes. This study has shown that the key elements of project management are critically important in meeting the objectives and goals of project and giving the desired outcomes. Project management is an art and a science that involves organizing, securing, planning and managing of resources with an aim to accomplish specified goals. A project can be defined as a short-term or temporary endeavor whose beginning and the end is clearly defined. Project management plays a significant role in facilitating execution of projects such as new software development, installation of new hardware or building a facility. As mentioned by Wessels, project management helps in selecting, managing and supporting of projects that are of significant importance in accomplishment o f an organization’s objectives, making it vibrant at marketplace and maximizing shareholders wealth. In an organization set up, various divisions and departments compete for scarce human and financial resources; project management plays an important role in rational decision framework enabling people to make the appropriate project investment decisions. Project management plays a critical role in management of outcomes mainly the cost, time and performance of the project. Projects are selected based on cost and benefit analysis where their return on investment is evaluated against cost of implementation. Role of project manager According to Lewis (2004, p. 19), project manager has the total responsibility to ensure that all project details are handled properly, this requires them to be highly proactive and not reactive. Project manager should follow up on things ordered or scheduled ensuring that things like requisition and purchasing are effectively running, project manager helps in project planning, controlling, monitoring and organization of project resources. Project manager plays a significant role in giving a project economic approach by determining its (ROI) return on investment. Project manager is also responsible for project risk management; he must identify risks, monitor and design effective response. He is also responsible for project reporting to the management of the organization. Key elements in project management Key elements in project management include managing and controlling project scope through clearly established aims, objectives and goals, managing cost element, managing risks, managing human resources, managing time planning, control and scheduling, and managing quality to meet the desired standards (Lock, 2007, p. 78). Project integration, management communications, procurement processes, and quality are also key element in project management. Managing the project scope Project management plays a critical role in ensuring that the aims, goals and objectives of the project are clearly and articulately established. Many projects fail due to wrong or unclear goals and requirements. With unclear goals, project experiences problems, however, with wrong goals, projects fail spectacularly (Rusell 2007, p. 45). Scottish Parliament has clear and articulate goals and objectives but had no clear requirements. Scottish parliament changed requirements of that projects several times, for instance they increased functions of the building demanding for more size and space, these changes caused various difficulties to the project team causing budget