Project management as imperative for business organization Essay

Project management as imperative for business organization - Essay ExampleProject management has been depicted as a finely developed and a well recognized and accepted domain of professional expertise and as a sphere for academician study geared at promoting improvements in a system (White and Fortune, 2002). It likewise presents a logical and an efficient method actingology to all phases of a project by ascertaining that every move and every step is meticulously conceptualized, supervised, monitored and accounted for.At the outset, its application was intended for big organizations with intricate systems and processes however, contemporary techniques of project management can be modified and tailored to suit the needs of the smaller firms (Baccarini, 1999). In essence, project management is not just a process or a method it is really more of a mindset, thus, it is imperative for business organization owners or those in the higher echelon of firm management to be receptive to its p otentials toward progress originally it can be initiated as a constructive and a valuable process within the organization.Definition/Principles As a concept, project management has been in existence for centuries with its casual use of the Chinese and Egyptians that led to remarkable undertakings like the Great Wall of China and the Pyramids. Nonetheless, as a contemporary phenomenon, it has gained so oft attention, focus and acceptance in the Information Technology industry as rapid developments continue to flow (Fox 2004). In a treatise centering on the evidentiary components of effective project management, it has been inferred that - In whatever project situation, there is a client/customer who has a unique need which requires knowledge and resources to conduct the actualisation of the concept within the specific constraints of time, money and specification. The effective management processes of planning, monitoring and control are required to translate the idea of change i nto tangible deliverables (Cicmil, 1997).As it is, project management is a novel process whose implementation has become a great fatality in todays competitive market. To endeavor the completion of any project entails several elements and obstructions, among them are client special requirements, project complexity, organizational restructuring and project risks (Kerzner, 2003). With a methodical procedure in place, obstructions can be explained and courses of actions and competent measures can be taken to either prevent or overcome them. Some of the many potential benefits project management provides include (Kerzner 2003)Identification of practicable responsibilities ensuring that all activities are accounted forIdentification of time limits for schedulingMeasurement of accomplishment against plansEarly identification of problems andImproved estimating capabilityPMI (2000) supplied a straightforward description and word-painting of the term which depicts it as the application o f knowledge, skills, tools and techniques to project requirements. As the concept of project management surfaces, three core stimuli are involved (Baccarini, 1999)1. Complexity - refers to the mounting intricacies of responsibilities and the necessity for higher levels in the spheres of expertise2. Change - deals with progressively active settings and the continuous presence of pressure within organizations and the execution of change due to global rivalry3. Time - refers to the demands for responsibilities, assignments and objectives to be