Project management is a fundamental process in every business and organization. It aims at adding value to products within an organization by ensuring that the organization is innovative and has a strategic plan to facilitate the progress of the economy. The essay focuses on the role of project management in an organization by analyzing some of the critical aspects that are required to improve the economic performance of an organization. Some of the crucial area covered in the essay includes the reasons as to why project management is emerging as an essential way of accomplishing several tasks within an organization globally. Other areas discussed in the essay include the roles programs, projects and portfolios in an organization setting among many other aspects of projects management in an organization setting.
The Role of Project Management in the Current Professional Environment
Project management plays various roles in the development of every organization. It enables organizations to be innovative and initiate proper and better strategic plans that will improve their progress. It ensures that time and budgets are well managed as expected to meet the objectives of an organization (Gale & Brown, 2015). More so, it enables excellent leadership which allows equal participation for all members of the organization. Therefore, it promotes for teamwork which eventually leads to added values to the products of a company.
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Why Project Management is Becoming Primary Means of Accomplishing Tasks
Currently, project management is addressing upcoming issues such as delays, customer's neglects, and ineffective planning before they become significant threats to the company. More so, project management is aiming at protecting an organization by ensuring that all operations within the company are well managed to meet the expected objectives of the company. Most importantly, project management is enabling a consistent and all-time delivery of products to targeted clients (Meredith & Mantel, 2017). As a result, it is perceived as a way that is significantly improving the relationship between the organization and the potential clients.
The Role of Projects, Program, and Portfolio in an Organization Setting
Projects help the company to establish realistic and achievable goals. Therefore, by the help of projects, the organization can effectively balance every competing demand that emerges from various stakeholders so that a common purpose is achieved (Platje, Seidel & Wadman, 2016). On the other hand, both the program and portfolio offer a scientific and structured approach that strives to maintain organizational development. Again, portfolio and programs have a common goal that includes balancing change initiatives and the organization at large by optimizing returns on investments.
However, projects, programs, and portfolios have close links with strategic plans in an organization setting. Programs and projects pursued by every company are always implementations of a strategic plan. It means, for a business to execute its strategic plan, it has to focus on the projects, portfolio, and program as its concrete actions. For example, when analyzing strategic planning an organization, managers can locate the weakness of their competitors so that they can exploit as many clients as possible. As a result, the manager launches new methods to point out the flaw. They may employ either a campaign exercise. In that scenario, the campaign is the project, program, and portfolio that is required to aid the strategic planning process.
Organizational Structures Projects Execution
Organization structures may either tighten or loosen project management. A loosened structure provides ineffective or a less rule-bound process, unlike a tightened structure which provides a necessary rule-bound structure. Organization structures also affect stakeholders which eventually alter the speed and seriousness for execution of projects in an organization. More so, it changes the chain of command. As a result, the members responsible for the implementation of specific projects get confused and fail to perform their roles as expected.
Project management adapts to such differing organizational contexts in various ways. It ensures that an organization is organized into useful and functional divisions by considering critical factors such as planning and policy (Atkinson, Crawford & Ward, 2016). Also, project management anticipates for a matrix organized structure. By so doing, it ensures that responsibilities are equally shared. Shared responsibilities may involve assigning duties and priorities to every member of the team.
Variations between Different Frameworks and the Benefit to the Development Process
Frameworks vary from each other. In our case, agile differs from waterfall framework in several ways. The agile framework also known as the iterative process is a framework where every stage is carried out in multiple sprints of similar iterative cycles. On the other hand, the waterfall l framework involves a framework where the entire process in an organization is executed linear format and not in an iterative cycle (Jiang & Eberlein, 2018). The rigid structure of waterfall framework discourages high levels of flexibility, and hence it makes mistakes to appear more costly. However, for the agile framework, the speed and flexibility are highly encouraged which at last minimizes the costs of errors in the operation of an organization.
Agile and waterfall framework has several benefits to the development process of an organization. The agile framework facilitates for the high quality of products. It also increases customer satisfaction by ensuring that customers are engaged in the projects. Most importantly, an agile framework increases the control of organizational schemes. On the other hand, the waterfall framework ensures that there are reduced risks in an organization. It also increases transparency and teamwork in an organization which further increases the productivity of a company.
Conclusion
Project management is an essential aspect for the success of every business. It plays significant roles in an organization such as ensuring that the organization remains innovative and has a strategic plan to facilitate the progress of its economy. More so, project management is continuously establishing good relationships between the customers and the business at large. Therefore, it is emerging as a continuous primary method of accomplishing various tasks in an organizational setting globally.
References
Atkinson, R., Crawford, L., & Ward, S. (2016). Fundamental uncertainties in projects and the scope of project management. International journal of project management, 24(8), 687-698.
Gale, A., & Brown, M. (2015). Project management professional development: An industry led programme. Journal of Management Development, 22(5), 410-425.
Jiang, L., & Eberlein, A. (2018). Towards a framework for understanding the relationships between classical software engineering and agile methodologies. In Proceedings of the 2008 international workshop on Scrutinizing agile practices or shoot-out at the agile corral (pp. 9-14). ACM.
Meredith, J. R., & Mantel Jr, S. J. (2017). Project management: a managerial approach. John Wiley & Sons.
Platje, A., Seidel, H., & Wadman, S. (2016). Project and portfolio planning cycle: project-based management for the multi-project challenge. International Journal of Project Management, 12(2), 100-106.
