Q1. The Project Manager's success or failure will be determined, ultimately, by the bottom-line.
What are the tools and ways that project managers monitor and control projects?
Project management plays a vital role in any business as a way of ensuring that the entire project remains within the proposed framework of performance and cost allocation. On the same token, this helps to ensure different stages of the entire project, are attained within the stipulated deadline. The outlaid project plan is the sole document or roadmap that acts as the blueprint of the entire project. The project is divided into different segments that are later narrowed down to show the expected objectives of the section. On the same note, all the segments within the project have a common goal that contributes to the final product.
What are good methods of monitoring?
Observation and making referrals is one of the critical ways to monitor a project, as it gives a vivid picture of the work in the field and how its progress is being made. In addition to the above statement, referring to the project helps gather statistical data that will facilitate the next step of the project.
How important is it to monitor the costs of a project?
The cost of a project is what dictates the entire project from its beta stage to a fully functional product. Through this, it is of great importance to ensure that all the costing of the project is satisfied and approved before commissioning of the project. On the same token, this helps to have a clear idea on how much the project will cost to its final stage. On the other hand, failure to understand the costing might result in halting of the entire project.
When should a project manager intervene?
A project manager should always be on the lookout to ensure that the project is up and running as scheduled. However, it is more important that a project manager intervenes where the mismanagement of the allocated resources is seen. On the other hand, time plays a vital role in any project. As a project manager, one should also get more concerned where a project is trailing below its scheduled time.
Q2.Consider if different organizations would need or want different leadership styles, organizational structures or management characteristics. How would the management style of a military leader's operation differ from a manager for the introduction of a new product or new technology?
Although most of the managers might be considered to have universal leadership skills, project management skills are more effective when it comes to choosing the leader with the right skills or qualities in a specified field. In this context, a military operational leader has managerial skills that are best suited to the military area, which might come in handy especially in managing any military-related projects. On the other hand, a manager intended to launch a new product in the market or a technology ought to have a clear background of the market as well as the product. Through this, the manager is likely to estimate and know the changes in trend, as well as knowing what might affect the product. Furthermore, the manager is able to know its glorious competitors and their strongholds.
Q3.Research a current event from within the last five years that relate to the topic of Project Execution and Control Documentation. Provide a brief explanation of the event.
Referred to as the project implementation period, this is one of the longest parts in the project management cycle as most of the allocated resources are applied in this phase. The California High-Speed Rail is one of the best examples in this case that utilized nearly most of its resources in the execution phase, to ensure that the entire project is up and running.
Q4.Research a current event from within the last five years that relates to the topic of Project Management and Organizational Behavior. Provide a brief explanation of the event.
Project management and organizational behavior refer to the employees' cultural behavior in the organization. As a result, it is more relevant to understand the cultural behavior and chemistry of the employees before launching the project. The California Rail Builders is one of the companies undertaking the project, which commenced in 2015 and is scheduled to be completed by 2029. The company had to have a clear understanding of its employees' cultural behavior to ensure that the project is up and running as scheduled.
Q5. Research a current event from within the last five years that relates to the topic of Project Management Methodology and Presentations. Provide a brief explanation of the event.
This refers to the methods employed by the project manager to ensure that the project is well completed within the stipulated time as well as adhering to the correct budget. The California High-Speed rail utilizes these skills to ensure that the project is well undertaken. The project is divided into two segments that work separately to achieve the goals of completing the entire plan.
