Differences in carrying out a project

What are at least three (3) differences between carrying out a project for a for-profit organization and a non-profit, and how do they differ?
A project for a for-profit business is designed to maximize profit, but for a non-profit business, profit is not the main goal.
-A non-profit organization is supported by donations from various sources, whereas a for-profit firm receives funding from bank loans, local investors, and sales revenue.
-Taxes have an impact on for-profit endeavors, but the government exempts non-profit organizations from paying taxes.
Please identify three reasons why for-profit initiatives fail along with what a project manager could do to mitigate each one. What steps should a project manager take if there are foreseeable events leading to a project budget becoming empty way before the end of the project?

-Lack of visibility for all projects in all sections of the project team from the executive management, who are at the top level, the project manager, and the team members. All these members need access to the right level of information and at the right time to ensure that all aspects of the project are followed up. Lack of reports from any party results in cancellation or re-direction of the project.


-Organizations have many opportunities and initiatives that they hope to fulfill. By embarking upon such initiatives without a definite project, objectives causes overworked and usually unhappy team members. If the top management does not define the organization's goals and the strategies to carry them out, the organization as a whole becomes unclear about the essential objectives.


-Lack of project prioritization from the executive management and project managers leads to overloaded resources. Visibility into resource workload should be delegated and resources allocated appropriately through proper communication channels.

Solutions

-Projects should be published to a visible location through providing your team with a centralized system for publishing project schedules and empowering team members to update their tasks in the system which makes work easier for project managers and executives. Communication by executives is also essential on a daily basis.


-Determine long-term goals and strategies and rank them in order of priority. Setting up risk assessment departments who evaluate all opportunities and determine which initiatives are most profitable


-Creation of a resource management grid that actively acts as the task manager. Top management should understand and be committed to invoke an organizational culture of planning and managing resources effectively.




3. Please list three tips that a project manager can utilize if a project begins experiencing scope creep.

Scope creep results when project stakeholders tend to change requirements or miscommunication during a project’s lifecycle.

-Constant comparison between actual work performance and baseline scope to determine the difference between the current project and the original plan.

-Monitoring the project’s status and the baseline scope to ensure no extra requirements during execution of the project.

-Determining the cause and degree of the changes found and decide the type of action needed, whether corrective or preventive and managing all change requests and recommended actions effectively via a set-out control process.


4. discuss what happens when you're leading a project, and your team members are not the individuals you want. List and discuss three suggestions regarding how to utilize the talent you're given.


The project manager should clarify about the project and let the entire team know their roles and responsibilities and also try to build a good working relationship with the team.



5. Some project team members become regular problems during a project. Discuss at one or more best practices for dealing with difficult team members

Some members may be highly skilled and talented, but due to the difficulty in dealing with such team members, the company's overall success may be destroyed. Project managers can deal with difficult team members by;


-Talk to the team regularly before and during the execution of the project. Talking facilitates adequate assessment of the selected team to understand each in the team better. It makes problem-solving much easier.


-Identify ground zero. A project manager should pinpoint the cause of the dilemma and try to come to common ground with any team member. By listening to all parties involved, the project manager will understand any underlying issues with the team before commencement or during the project execution.


-Follow up on any solutions that were identified and give them time to work. This gives credibility to the project manager while giving team members the chance to work out their differences.

-Identify the antagonist in the team. A project manager will make better decisions regarding the team once the member to blame has been identified. It also provides for a conducive environment for the rest of the members to carry out their tasks effectively







6. Please suggest one platform a project manager can use for managing virtual meetings and explain why you selected this technology platform.

Professionals and project managers who use virtual meeting platforms to conduct their business opt for Skype. This platform offers quite flexible services, even for small business. It is a favored platform among project managers because;

-Skype is free to users who already have the app and easy to use due to an easy user interface

-Skype can be used on mobile devices which is a global trend and at a low cost to other individuals who don't use the platform

-Skype supports group video conferencing which is appropriate to executives, project managers and team members because they can all be in the loop during the meeting and get immediate feedback.

-Skype comes in different languages for different countries, and users can record all video chat sessions for future reference.


7. List at least two (2) reasons why virtual project teams are becoming a common occurrence across all industries.

In the ever-changing business landscape, virtual process is gaining popular opinion than traditional methods due to their efficiency and effectiveness.Virtual project teams are becoming a universal preference because;


-Virtual teams are more engaged and offer extended team updates.Conducting a virtual meeting via an online platform at the comfort of your home or office can provide for comfortability for all members of a project thus better communication between all parties involved in the execution of a project.It also provides for immediate feedback across all channels at the same time.

-Remote workers tend to log more hours of work. By being comfortable while working on their tasks, members tend to be more productive and offer useful input for completion of a project.A company might prefer to use virtual platforms to carry out it's meeting with team members due to this kind of meaningful contribution.





8. Discuss at least two (2) reasons why budget management a necessity in project management.

Project managers need to avoid added requirements in the project scope so as not to incur more expenses and exceed the project budget. This can be achieved through budget management by;

-Estimating cost

-making plans


9. What should a project manager do if the spend begins to exceed their allotted budget?

There are several ways for a project manager to deal with that kind of situation, he/she should first reduce the project scope, seek for more funding from his or her financial assisters and also reassign the resources to a resource of more alow cost

10. Briefly, discuss a few time management tips a project manager can utilize to increase their team's productivity. How can procrastination within a team hinder that progress?

A project manager can improve his or her teams time management in various ways which include; completing each task at its own time before moving to the next, make prior plan for the work to be done and take breaks sometime to relax in order to get back some energy, make sure there is no kind of distraction around since work requires full concentration and commitment, schedule time to communicate with the team about important things to be done.

11. Why are deadlines and milestones essential to forwarding progress in project management?


How can procrastination within a team hinder that progress?

-They make a project more manageable as a project manager can divide the work into several phases and set deadlines for each stage.


-They give employees sense of accomplishment and self-worth when they finish the job before the deadline date


-They give the project manager a chance to identify a mistake in the work and correct it in due time.

How procrastination within a team hinders progress

-When a project is procrastinated the employees lose morale to work on it, and this decreases the work ethics generally

-Procrastination stresses the mind as one knows that he or she has some pending work to later than the expected time.

-When a project is procrastinated, it slows down other functions mostly in a company that would want to conduct marketing before the end of the project.






12. Provide at least three tips a project manager can do to prepare for leading a global team.


-He or she should start by building trust with the team by making sure all actions are accountable

-The project manager should ensure that the team understands the project to be carried out and the objectives of the project.


-The project manager should strive to achieve team cohesion and share the same vision with the team by encouraging dialogue and communication.





13. What type of personal development cultural awareness training would you recommend for a Project Manager?

-He or she should have emotional intelligence this means being sensitive to what others feel and consider their opinions

-He or she should avoid premature judgments by collecting as much information as possible before passing judgment,

-The project manager should create a good working relationship with the team and ensure good communication























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