This essay examines the many project management technologies that are available.
In order to accomplish certain objectives and satisfy defined success criteria, project management refers to a method that involves initiating, planning, carrying out, controlling, and concluding the work of a group or team. Network Diagrams, Gantt Charts, are just a few of the project management tools Critical Path Method, Work Breakdown Structure, Product Breakdown Structure, as well as Project Evaluation and Review Technique. Project management tools play a pivotal role in helping project managers to achieve various project goals and objectives within the provided timeline and resources, especially for medium and large-sized projects.
Introduction
Project management refers to a practice that involves initiation, planning, execution, controlling, and wrapping up the work of a group or team with the aim of achieving specific goals and meeting particular success criteria (Crosby, 2012; Desmond, 2017). The term project refers to a temporary work designed to give a unique result with a defined starting point and end (Crosby, 2012; Desmond, 2017). The primary challenge faced by project managers is the achievement of all the goals of the project within the provided constraints of time, quality, scope, and budget (Desmond, 2017; Frame, 2014). The secondary challenge faced by project managers is the optimization of resource allocation and applying them to meet the project's pre-defined objectives. The management of projects, therefore, requires a broad range of distinct management strategies and technical skills (Desmond, 2017; Frame, 2014). This paper explores the various types of project management tools used by project managers.
Types of Tools Used by Project Managers
Every project is unique in the context of its resources and priorities, problems, environment, and the attitude and management style of its manager. The organizational structure of any project, therefore, has to be designed to fit within the constraints of the project (Dalcher, 2014; Manole & Grabara, 2016). The implemented organizational structure may not necessarily be the same throughout the project’s life cycle due to various reasons, including changes in available resources, priorities, laws, project personnel, and other contingencies (Dalcher, 2014; Manole & Grabara, 2016). However, irrespective of the chosen project management structure, the dynamic state of equilibrium between financial resources, project objectives, and limited personnel is necessary for the management of a given project to be successful (Dalcher, 2014). The following are some of the major tools used by project managers.
Network Diagrams
Network diagrams, also known as Arrow diagrams are used by project managers for project planning, and it involves the use of arrows in connecting project activities and representing interdependencies and precedence between different project activities (Crosby, 2012). The formation of a Network Diagram requires project managers to make various assumptions. One of such assumptions is that all the pending project activities should have been completed before a new activity begins (Crosby, 2012; Desmond, 2017). The second assumption made when using a Network Diagram is that all the arrows show logical precedence, implying that the arrow’s direction represents the sequence to be followed by project activities (Crosby, 2012; Desmond, 2017). The final assumption made when using network diagrams is that the project must start with a single event and ends with a single activity (Crosby, 2012; Desmond, 2017).
Project managers need to define four different dates for every task for the diagram to compute the project’s total duration. The first two dates rates to activity start time and include Early Start time (the earliest date when the project activity can begin), and Late Start time (the last date when a given project task should start) (Crosby, 2012; Desmond, 2017). The second two dates relate to the completion of a project work and include Early Finish time (the earliest date when a given project activity can be completed) and Late Finish time (the last date when a project's task should be completed) (Crosby, 2012; Desmond, 2017). The difference between a project activity's Early Start time and Early Finish time gives the duration of that task. The difference between the task's Early Start and Late Start times, or the Early Finish and Late finish times, gives its slack time (Crosby, 2012; Desmond, 2017).
Gantt Chart
The Gantt Chart, which got developed in 1910 by Henry Laurence Gantt, gives a graphic schedule for project planning and monitoring, as well as recording the progress of various project activities towards completion (Desmond, 2017; Jowah, 2015). The Gantt Chart gives a representation of the project schedule in the form of bar charts spread out within the project’s timeline. Besides, it indicates the progress of each project activity in different colors from the activity’s planned duration (Jowah, 2015). The differences in bar chart’s lengths and colors help project managers in determining the project’s schedule overruns or delays (Desmond, 2017; Jowah, 2015).
Critical Path Method (CPM)
CPM is an essential tool that project managers use for monitoring the project’s progress to ensure that the project remains on schedule. A project’s critical path refers to the longest sequence of events on the network diagram, and it usually has a zero slack for all the events in the sequence (Kirkland, 2011; Shrestha, Maharajan, Batista, & Shakya, 2016). That implies that any small delay in any of the critical path activities will lead to a delay in the project's overall timeline. That, therefore, makes it critical for project managers to monitor project activities in the critical path very carefully to ensure that all the activities run smoothly (Kirkland, 2011; Shrestha, Maharajan, Batista, & Shakya, 2016). In some cases, project managers may be forced to divert resources from other events that are not on the critical path to project activities in the critical path as a means of ensuring that the project remains on schedule (Shrestha, Maharajan, Batista, & Shakya, 2016).
Work Breakdown Structure (WBS)
A Work Breakdown Structure refers to a delivery oriented ranked breakdown of work (Iakovleva, 2014). It is usually used for defining the entire scope of the project, as well as identifying various project’s required deliverables (Iakovleva, 2014). Having well-detailed deliverables for a project allows project managers and other stakeholders to have a shared understanding of the scope of the project. A work breakdown structure divides every project task and project deliverable into smaller and more manageable components (Desmond, 2017; Iakovleva, 2014).
The items placed at the WBS’s lowest level are referred to as Work Packages, and they can be cost-estimated, scheduled, controlled, and monitored individually (Iakovleva, 2014). Dividing large projects into several, smaller work packages makes it easy for project managers to plan, monitor, and manage the project more efficiently and effectively (Desmond, 2017; Iakovleva, 2014).
Project Evaluation and Review Technique (PERT)
PERT refers to a form of Network Diagram used by project managers in identifying a project’s critical path (Frame, 2014; Kirkland, 2011). The PERT tool is essential in simplifying various processes relating to scheduling and planning of large and complex projects, as well as the development of more realistic time estimates for each project activity. As opposed to the standard Network Diagram that uses a single duration estimate for every activity, PERT uses three different duration estimates for every activity. Optimistic estimate (T-O) is the first estimate, and it assumes that all factors affecting a given activity will favor that activity (Frame, 2014; Kirkland, 2011).
Most likely estimate (T-M) is the second estimate, and it assumes that a given project activity will encounter some problems in the implementation process, and therefore offers some contingency buffers in the task estimate (Frame, 2014; Kirkland, 2011). The pessimistic estimate (T-P) is the third estimate, which assumes that anything that can go wrong during activity implementation will go wrong. The T-P estimate, therefore, provides large contingency buffers. The activity’s realistic estimate (T-E) is the average of all the three PERT estimates (Frame, 2014; Kirkland, 2011).
Product Breakdown Structure (PBS)
A project breakdown structure is a project management tool in the form of a hierarchical, exhaustive tree structure that represents various components that constitute a project deliverable, organized in a whole-part relationship (Dalcher, 2014; Shrestha, Maharajan, Batista, & Shakya, 2016). The use of a PBS by project managers is helpful for the clarification of what the project should deliver. Besides, it can contribute significantly to creating a work breakdown structure (Dalcher, 2014; Shrestha, Maharajan, Batista, & Shakya, 2016).
Conclusion
Project management tools play a pivotal role in helping project managers to achieve various project goals and objectives within the provided timeline and resources, especially for medium and large-sized projects. Without appropriate project management tools, the completion of projects can be very challenging, and an original idea may turn into a mess. That may ruin the relationships between project managers and their clients, as well as lead to the return of zero deliverables. Therefore, project management tools are essential in allowing project managers to have a defined overview of the project, which makes it easy for them to plan and coordinate the project resources, as well as allocate budget appropriately.
References
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