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PROJ6000 Principles Project Management Assignment help is essential for achieving the objectives of an organization. A project is a method to achieve the scheduled purposes which could be demarcated in the label of outcomes. PMBOK which stands for Project Management body of Knowledge is the principles set for the project management occupation. It consists of knowledge regarding the law, accounting and the guidelines required in the completion of the project. Project Management includes nine knowledge areas namely, integration, scope, cost, time, quality, human resources, risk, communications and procurement. Another important theory that is included in Project Management is the process groups of project management i.e., initiating, planning, executing, monitoring and controlling. Each of these is important for the completion of a specific Project.
In a State Government Agency, where I was initiating its electronic records management system Project, many factors are considered for its ignition. But, things still went wrong as I failed in my duty towards stakeholders. They were not informed and their impact incorporated the project. Project management process groups were also followed by me in the project. I utilize the PMI’s institute as the base for developing the project. Many times, projects are unique, thus the management has to develop its own project guidelines by getting help from PMBOK Guide, and so did I. Initiation of the project consists of recognizing of the project. I understood that it is important to know the key stakeholders and a business case for the initiation of the project. I knew that efforts from the stakeholders would be essential for the completion of the project. I also had a feeling that the project includes several risks factors as there was a lack of interest in various clients. A survey was also developed for the determining the critical features and to review the values of the project. I also have to overlap the issues related to human resources during project execution. I with all pre-planned issues and by overlapping the problems completed the project as planned in their project chart.
The points needed for the initiation and completion of a project were acknowledged. The different methods of project selection have also taken along with the implications of Statement of Work.
The specific projects required the following:
Payment schedule as per the milestone achieved. A down payment of about 30% of the total amount was done before starting the work. About 20% of the payment was done within fifteen days of starting the work. Rest of payment was done accordingly the achievement of the task. The payment was fully completed in eight parts.
For every organization, the biggest decision they have to make is always related to Projects Selection. Various factors are to be considered before a Firm actually decides to start a project. The chosen strategy will cast the implementation of project that is to be carried out appropriately.The two most important methods for project selection are Benefit Measurement and Constrained Optimization Method.
Benefit Measurement- this method helps in comparing the values of one project to another. It is grounded on the estimated cash outflow and inflow. Various techniques are used in this method such as Economic Model; Pay-back period, NPV, IRR, etc.
Constrained Optimization Method- this method is used for complex and large projects and has mathematical calculations. Techniques that are used in this method are linear programming, Dynamic Programming, Non-Linear programming, etc. For this Project, I choose this project selection method as it solves all the mathematical problems associated with it.
A Business Case is required to provide validation for commencing a project. It is necessary to have a business case in every assessment as it portrays the worth of the work. Without it, the company will not be able to get the information required for the project. It includes the benefits that result from the projects. The Cost associated with the projects, arrangement of funding and all other major points are included in Business and corporations.
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Herman, B. and Siegelaub, J. (2009). Is this really worth the effort?: The need for a business case. Retrieved from http://www.pmi.org/learning/need-business-case-6730 (PDF)
Project Management Institute. (n.d.). Code of Ethics and Professional Conduct. Retrieved from http://www.pmi.org/About-Us/Ethics/Code-of-Ethics.aspx
Wysocki, R. K. (2014). Effective project management: Traditional, agile, extreme (7th ed.). Indianapolis, IN: Wiley [Vital Source e-reader].