Process of managing any Project


CONTENTS
Introduction 1
Initiation 1
Planning Process 2
Executing Process 3
Monitoring Process 4
Closing Process 4
Conclusion 5
Bibliography 5

INTRODUCTION

The concept of project management is used to organize the processes that are included in any project focuses on how to plan, co-ordinate, control, and execute the project. Project Management can be collectively termed as the application of acquired data, skills, techniques and the tools therein to the activities and processes of the project after due consideration of the requirements of the project. (Carly, 2004)
Managing individual projects requires several processes to execute. These processes can be considered as separate phases of executing a project as the processes distinguish the activities being done in a project. The processes are initially identified as process groups which contain several specific processes. These internal processes can sometimes be contained within different process groups but the process groups do not change. (Lock, 2007)
The objectives of a project are aligned accordingly to the specifications of a given project. These are the key factors to be focused upon but there are also other emergent factors relying on the type of project. (Patanakul & Milosevic, 2008) The process groups which include the internal processes that are taken into consideration for the entire activity of project management are:
 Initiation
 Planning
 Executing
 Monitoring and Controlling
 Closeout
INITIATION

The process of initiation contains internal processes which help to define a new project or in identifying an individual phase inside a project through acquisition of authority to initiate a project. This process includes the internal process of the identification of stakeholders which are bound to interact in the processes or influence the processes in a certain manner. The process of initiation is done mainly in an external environment of the project scope by the company. (Carly, 2004)
The requirement gathering is done prior to the initiation process. Initiation process also evaluates the alternatives to complete the project to determine the feasibility of the project. Objectives are clearly defined and along with that, the project plan is analyzed for determining if the best options are considered. (Project Management Institute, 2013)
The selection of the project manager is also done in this phase. The initiation process group takes into account the relation between the organizational goals and the project under planning so that the internal processes and the objectives of the project can be refined. (Munns & Bjeirmi, 1996)
The information gathered from all these objectives is then recorded in the project charter which is later approved by the organization and the project management. This process is recognized as the authorization of the project at an official level. The process of initiation due to these aspects can be considered as a pivotal starting point for the entirety of the project.
PLANNING PROCESS

The process group of planning includes the primary activity of gathering information regarding the further processes in the project and the internal processes of those processes. After the approval authorization of the project and the project charter, the elements regarding project management rigorously observed, reviewed, updated according to necessity and approved. The most important outcome of the planning process which is the project management plan (PMP) is obtained through the course of planning. (Project Management Institute, 2013)
The elements considered in the initiation process for developing the project charter i.e. scope, duration, resources, etc. are again considered for preparing the project management plan and these element will be emphasized in its preparation. The project management plan in an essential instrument for the project manager in determining the progress of the project. In the process of information gathering if additional dependencies, risks or requirements arise, then they are added to the PMP. (Patanakul & Milosevic, 2008) Even in the course of time during the further processes, planning processes may come up again.
Updates that emerge during the planning process have a sizeable impact on the project management plan but they provide a greater level of precision to the project management plan. The updates can be at times limited to a specific process group or they can impact the entire course of the project. The decisions taken in the planning phase are documented for further usage which includes details like the scope of the project, the objectives, time-frame, and the availability of the resources. This is necessary for analysis which is conducted at a further level for corrections and consideration.
The project planning in general and the project management plan scrutinizes the stakeholders taking into account their influence and the level of stake in the project. It is the goal of the project team to create an environment appropriate for the stakeholders so that they can contribute to the project effectively. (Project Management Institute, 2013)
EXECUTING PROCESS

The process group of execution includes the internal processes required to complete the project according to the guidelines created in the project management plan. This is the essential stage where the outcomes of the project are gained after utilizing the concepts of planning. The project management team determines the processes which are to be utilized for completing the project. The internal process of coordination is essential through the course of execution. (Perkins, Peterson, & Smith, 2003)
The implementation stage also includes corrective actions which are considered in the planning to act as a catalyst and elevate the performance of the project and get it completed according to the plan. The role of the project manager is to address the scope of the project approve the changes suggested for improvement. The majority of the budget allotted to the project will be expended during the execution process of the project. Other important activities of execution process include change requests, dealing with issues, communicating with stakeholders, and measurement of performance. (Lock, 2007)
MONITORING PROCESS

The internal processes formed for observing project execution are included under the monitoring process group. These processes are to be put into action so that corrective measures can be taken on time and control the flow of the project. These process also influence the factors that can impact the change of control. In the case of multi stage projects, monitoring process is responsible for providing feedbacks in between phases. (Carly, 2004)
The monitoring process contains certain process interactions that are critical to the process. These process interactions are plan, do, check and act. The planning includes establishing objectives, do includes executing the PMP, check includes monitoring process performance with regard to the objectives while act includes defining and executing corrective actions. Monitoring process is important for observing budget overruns. Key Performance Indicators (KPIs) are taken into account for reflecting the project goals. (Project Management Institute, 2013)
CLOSING PROCESS

Several factors are considered as a basis for completing the project which are size of a project, time-frame in which the project has to be completed, resources available for use in the project, underlying risks in the execution of the project, complexity of the project.
This process group is responsible for formally terminating all the process of the project in a defined manner. The closeout process observes if the products or deliverables will be available in the required amount of time in the required quality. The data gathered in the course of the project regarding the performance and the resource usage also has to be made available. The risks considered in the course of the project and risks occurred have to be recorded for future consideration. The resources no longer required after the project have to be identified and released. (Project Management Institute, 2013)
CONCLUSION
The project management process as a collective concept requires that the sub-processes in the project life cycle are divided into parts so that there is efficient management in the course of the project. These process groups are the crux of the project life cycle and define the role of the internal processes in the project. This gives shape to the activities that are performed in the project. The stages from initiation to closeout are the defining phases of the project life cycle. The project manager has a well-defined role throughout the progress of the project phases in completing the project and coordinating the project team. These process groups are the alphabet that is to be understood for gaining an insight of the project life cycle. (Project Management Institute, 2013)
BIBLIOGRAPHY
Carly, L. (2004). Project Management Primer. Bureau of Reclamation.
Lock, D. (2007). Project Mangement. MPG Books Ltd.
Munns, A. K., & Bjeirmi, B. F. (1996). The role of project management in achieving project success. International Journal of Project Management, 81-87.
Patanakul, P., & Milosevic, D. (2008). The effectiveness in managing a group of multiple projects: Factors of influence and measurement criteria. International Journal of Project Management, 1-18.
Perkins, T., Peterson, R. E., & Smith, L. (2003). Overview of Project Management. The Journal of Defense Software Engineering, 4-10.
Project Management Institute. (2013). A Guide to the Project Management Body of Knowledge: PMBOK. Project Management Institute.

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March 8, 2018

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