Project Management

[pic] Project management

--- Assignment 1

Student name: Sichen Zhou

Student ID: 13207637

Date: 04/09/2014

Table of contents

1. Importance of project management……………………………………………2

2. The roles of project management….......………………………………………2

3. Recommendations…………………….……………………………………….3

1. Understand PM’s role…………….……………………………………….4

2. Be objective about threats………….……………………………………..4

References……………………………………………………………………………..6

1. Importance of project management

The discipline of organizing and managing resources in such a way that these resources deliver all the work required to complete a project within defined scope, time, and cost constraint is known as project management (Patel, Vinod N., 2008)

The need for project management is becoming increasingly apparent in the world today. Speed, quality and cost control are taking on increased significance in business, government, and nonprofit sectors. Project management allows managers to plan and manage strategic initiatives that generate new revenue in expanding sectors of the market. Project management decrease time to market, control expenses, ensure quality products, and enhance profitability. Project management helps to sell products and services by positively differentiating them from their competitors. Project management is one of the most important management techniques for ensuring the success of an organization (Richman and Larry, 2011).

A core project team with an excellent manager can be much more efficient than a whole stable of workers because, as a cohesive and dedicated unit, they can focus all of their energy on the task at hand.

A successful project is needed to be under budget, delivered by the deadline, and of sufficiently high quality. However, the project may be running late due to some unavoidable delays, or the quality desired may require more money than was initially...