PROJ6000 Principles of Project Management Assignment Help
1. Understand PMBOK knowledge areas and process groups and their role, relevance and impact on project management best practice and PMI's Code of Ethics.
2. Critically compare and contrast project management approaches and their appropriateness for managing a variety of project
3. Apply appropriate project management tools and techniques, paying particular attention to risk management.
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Project management is described as the art of applying knowledge and abilities, to achieve the required project objectives. Often this business solution also comprises of strategies to integrate relevant devices and techniques for the execution of operational task. According to the report of Todorovic et al. (2015), for every project manager, the project could be considered as a one-time activity that aims to achieve a specific output. The management process comprises five phases, whichare, (i) initiating, (ii) planning, (iii) executing, (iv) monitoring and controlling, and (v) closing (Fuller, Valacich, George, & Schneider, 2017). In this streamline flow,development of plan is the first step, which includes collection of information to achieve the goal, defining the specific methodology and identifying the required resources, and budget. Relevant details about project management is specified in the project management book of knowledge guide, which is often common across the organizational guidelines. The project management body of knowledge (PMBOK) is basically a form of a document comprising a standard set of terminology, and guidelines for project management (Rosemann, &vomBrocke, 2015). It is an essential requirement for project managers all over the world to gain insights about effective project management techniques. According to PMBOK, there are in general three phases within developing a project charter, which includes; (i) inputs, (ii) tools and techniques, and (iii) outputs (Mullaly, & Thomas, 2016).
In the present report, the discussion focuses on project selection method on the given project, named as ‘Uber app'. Also, the report will also discuss the importance of developing a business charter within the scope of a project management.
Uber App - Project management
Based on the case study given, more than 3 million Uber drivers are dependent on Uber app, on the routine basis. It is their workplace, where they can find work opportunities in the form of customers from the transportation marketplace. The Uber drivers required a simple and fast app that is convenient to use. Thus, Uber should modify its software as a user-friendly application with the help of engineers and designers. The app-building team is engaged in a project to develop a new Uber app, which will make a directive approach towards making suggestions to the drivers about what to do and where to go. In this project, the designers will build an app that would not only provide a single proposal about the driving area but also will show unprecedented visibility.
In order to initiate this project, Uber needs to get authorization from the respective stakeholders. The expectations of the stakeholders should be aligned with the project purpose by clearly outlining its scope and objectives. The three basic components of project charter development are; (i) inputs (business documents, organization environmental factors, agreements) (ii) tools and techniques (specialist judgment, information collection, team proficiencies, gatherings) and outputs (project charter, assumption log) (Aragonés-Beltrán, García-Melón, &Montesinos-Valera, 2017).
Project selection methods
The selection of the appropriate project is a crucial part of the business, to get the desired output. The primary types of project selection methods are non-numeric models and numeric models. In the non-numeric model, the project members do not use numbers as the input for making decisions. In general, the non-numeric selection model comprises of 6 types, which will be described in this section.
"The sacral cow"is the first model type, in which, the project is suggested by a senior or powerful member of the organization. It is named as sacred because it will be maintained until successful completion. However, in other cases, where the project got terminated based on the decision by concerned stakeholder or higher authority, by announcing it as a failure (Haass, &Azizi, 2019). Such projectsare mostly initiated based on any relevant opportunity which is then followed to an unestablished proposal of designing a new product in a new market. Another important model, described by Espinoza, Brooks, & Araujo (2018). In this context is the "operating necessity". This model is used when the plant is being threatened by a flood. In such a situation a project is built to act as a protective dike without any formal evaluation. The project cost is kept low, in order to keep the system operating. Thus, in a situation of crisis, the project aims at maintaining operational functionality, rather than exercising the cost-benefit ratio. That is also scope for rushed decision making and distortion, as it lacks proper prior evaluation.
Similarly, the "competitive necessity", is another valuable model, where the decision for the project model is based on maintaining a competitive position in the marketplace. In some cases, the organization has to spend all its investment to achieve a competitive catch up for the project. The responses in this type of project are completely reactive which makes it difficult to remain aligned with the organizational strategic goal. This project model is most appropriate for the Uber App to achieve a competitive advantage in the market place.
Other relevant project management model include "Product line extension". In this scenario, the project is considered for development if it suits the company's existing product lines and is able to fill the gap by strengthening the weak line. Here, the decision-makers act on the basis of their perception about the influence of the new product on the entire production system. Likewise, in the "Comparative benefit" model is implemented on the basis of organizational or situational priority basis. This model is selected, when the organization has to consider many projects. The senior management selects the subsets of the projects which will provide the maximum benefit to the company by making the comparison to each other. The team of senior management makes decision to select those projects with offer the greatest value by evaluating its pros and cons.
Lastly, "Q-Sort" model is another variant, which is selected on the basis of productivity or market demand. In this model, the project is subdivided into three categories, viz., Good, fair and poor. This ranking is used to rate each project by using a general judgment technique.
The numeric project selection model uses profitability as the measure of project acceptance by an organization. There are numerous numeric models 4 selecting projects. Firstly, the "Payback period" is relevant in this context, which is referred to as the division of the initial staticventure in the project by the anticipated yearly net cash inflows from the project. The payback period is the sum of years necessitated to repay the initial investment. Secondly, "Profitability index", which is governed on the basis of economic benefits. Here, the total existing value of upcoming cash flow divided by the venture in the initial stage is defined as the profitability index, which is also known as a benefit-cost ratio. If this ratio is greater than 1.0 then the project will be accepted (Ortíz, Felizzola, &Isaza, 2015). Third, the "Average rate of return", is the relevant numeric project selection method. It is the ratio between the average annual profits to that of average project investment. Overall, it provides a major advantage in the form of simplicity do select the specific project.
Development of business charter
Project charter development is defined as the method of creating a record that approves the actuality of a project as well as facilitates authority of the administrativeassets to the project manager. The project manager can use these resources in Project activities. Business charter is significantsince it offers a well-defined start as well as the boundary to the project (Ortíz et al, 2015). Additionally, it creates a formal project record through which the senior management team can accept and commit the project formally. In this project charter process, the given case study company 'Uber' should engage stakeholders, discuss issues, resolve conflicts and gather agreements for project initiation. The company should consider and align the interests of stakeholders, which reduces the risk of cost fluctuations in the later stages of the plan. For developing the project charter, Uber should follow three basic steps. The first step, it should establish the project vision which will help in moving forward. It can even break the vision into scope, objectives, and deliverables (Gür, Hamurcu, &Eren, 2016). The second step is to catalog the project organization, which is achieved by a detailed listing of stakeholders, customers, responsibilities, rules and reporting lines. The final step is to plan the approach for project implementation. This state is further subdivided into four different parts, viz, application plan, mileposts, dependences, and source plan.
In summary, the given report illustrates about project management process making a case example of the Uber app as the project. In this context, the report also provides a detailed information project management body of knowledge (PMBOK). Various project selection methods have been discussed, which includes, non-numeric and numeric model. In conjunction with this, the competitive necessity model has been identified as the most suitable project model for the Uber app to maintain a competitive edge in the marketplace. Apart from the Project selection method, the company needs to develop the business charter give a whale define start to the project.
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