Project management is a very vital entity that is applied to various industry settings. Essentially, project management is essential for ensuring the success of projects. To achieve the objectives of every project, professional management is needed and has to be in a disciplined approach to planning, communicating, controlling, defining and strategizing a project. Basically, project management assures that the project meets its objectives. Project management entails applying skills, techniques, knowledge as well as tools with the aim of meeting the project requirements (Meredith, Mantel Jr, & Shafer, 2017). However, the benefits obtained from proper project management are valuable. Therefore, for a project to be successful, it requires a highly skilled project manager and project team members. This paper synthesizes the findings and learning from our group presentation about project management nomenclature and concepts in various industry settings, project management tools, and standards and also qualities of a BPM graduate to get employment in a project management profession.
PM nomenclature and concepts in various industry settings
Project management has its own unique nomenclature and concepts that are used in practice in various industry settings. However, there are some different industries that may share common project management practices including project management nomenclatures and concepts. Some of the common industries that have a common project management practices are banking industry, healthcare, and construction. These three industries share a common project management practices and have similar terms and concepts (Kerzner & Kerzner, 2017). One of the common practices exercised by project managers in these three industries is risk management. Essentially, risks are events that can significantly impact the success of a project. Risks can involve staff lacking basic skills to carry out their duties, failure to deliver in time amongst other inconveniencing activities. Every industry has a risk that needs to be managed in order to achieve their success. All these industries estimate the likelihood of risks to occur using the following metric (1 = not likely, 2 = maybe likely, 3 = very likely). They also estimate the effect of the risk on the project using (1 – low, 2 – medium, 3 – high) metric (Kerzner & Kerzner, 2017).
Another common practice under project management that relates to all these three industries is the provision of goods and services. For a project to be successful, resources and services such as labor are highly needed. Therefore, project management ensures that there is an adequate supply of resources and services that are critical and highly needed by the project (Kerzner & Kerzner, 2017). Therefore, the project manager who is the leader of the project is in charge of coordinating and ensuring that there is an adequate and consistent supply of necessary resources and services.
Every industry that has a project in progress needs a project manager to manage the project. A project requires strategic management in order to achieve the success of the project (Kerzner & Kerzner, 2017). Literally, projects are normally complex and can be rendered unsuccessful if it does not have someone competent to manage it. Therefore, as much as a project manager is highly needed in a project, a competent and highly skilled manager is required so as to drive the project through its complexities to achieve its success.
Projects in these different industries do create job opportunities for the people in the society. A project needs a team of project members to facilitate the processes of the project (Meredith et al., 2017). Additionally, manual workers are also employed to help in the project activities that require manual labor. Actually, every project needs a lot of services and these services are required human labor, therefore, creating job opportunities as it will need human labor to be employed.
Health care project management uses a specific language. It depends on the environment the project is being undertaken. Health care industry tends to apply the use of agile and waterfall project management approach in their projects. The waterfall approach utilizes sequential phases in defining, building, testing, as well as releasing project deliverables. On the other hand, Agile method utilizes iterative work cycles referred to as sprints (Burns, Rohrich, & Chung, 2011). Every sprint utilizes mini-phases in defining, building, testing, and releasing project deliverables. Moreover, its project management and practices are based on evidence-based medicine (EBM). EBM is entails identifying evidence then use that evidence in making decisions. Generally, health care projects entail small groups’ practices.
Projects in the banking industry entail establishing a long term relationship with its partners or clients. The most fundamental thing in the banking industry is to establish a relationship with the stakeholders, partners, and clients. Instead of being named a project manager, in the banking industry, they have relationship managers whom their task is to establish and manage relationships between the bank and its stakeholders (Kerzner & Kerzner, 2017). Lending decisions are made locally by relationship managers.
In the construction industry, they majorly use the construction waterfall project approach in the management of their projects. This is a traditional strategy which does not allow change as well as modification of the project. It is a ridged approach whereby everything is planned before launching the project (Kerzner & Kerzner, 2017). The construction mostly uses this management approach and stages should be finished before proceeding to the next stage. For instance, the feasibility, as well as the planning phase, has to come before the execution phase.
The first phase is the initiation phase. This is the conception stage where the project starts and feasibility study and valuation of the project are done to determine the strengths and weaknesses of the project. The second phase is planning, which entails planning for the projects time allocation, cost, resources as well as the project’s blueprint. The third phase is execution which entails implementing the project and monitoring the project. The fourth and last phase is post construction (Kerzner & Kerzner, 2017). This phase entails evaluating the project, reporting and giving feedback about the project’s progress.
Project management tools and standards
Podio is a very important project management tool that many project managers use. Podio helps in defining the project’s framework. It enables a project manager to view the status of the project as well as any other related deliverables. This app also shows the project manager an overview of other minor projects within his project team. This app conveniently integrates with other services such as Google Drive as well as Dropbox which facilitate easy addition or modification of a project (“Podio,” n.d.). Moreover, this tool is compatible with a variety of other commonly used programs for documenting and storing information. These programs include; Excel, Onedrive, GoToMeeting, Microsoft Exchange, box and email (“Podio,” n.d.). This tool is easily visible and easy to trace variables of the project making it trace the progress of the project. Podio app offers timely access to project information and also allows easy modifications to be done within a short time. It is an open office which enables the project manager to access any information that he needs at any time with many conveniences.
One of the main and mandatory standards for project management is that a project needs to have adequate details. All the information about the project needs to be provided and recorded. This information such as the framework of the project, the processes involved in every phase and also task allocated to every project team member. Every activity involved in the project has to be explained and clarified in detail such that it is easy to identify the objectives of the project and as well as relating to the fulfillment of the project. Essential features that have to be recorded in the project’s framework and portfolio include; the risk management plan which dictates the measures that should be taken to mitigate risks that may be experienced during the project life (Ramazani & Jergeas, 2015). Also, the quality assurance necessities should be included and well expounded on setting standards on the quality of services that are needed in the project that should be achieved. Security measures are also other important measures that need to be included and accompanied by adequate details on security measures that are in place to protect the project and everyone involved in the project (Ramazani & Jergeas, 2015). Project testing techniques also must be listed and explained in detail including the process and manner of carrying out project testing. Additionally, documentation as well as portfolio requirements are mandatory and should be well-explained in such a manner that it is easily understood by every project team member and stakeholders.
A configuration management standard is a very important project management standard that helps in minimizing disruptions and also ensures a smooth and steady flow of project processes (“GAPPS,” n.d.). This standard is mandatory and very resourceful in ensuring the easy and smooth progress of the project. Risk management standards should be incorporated into the project. This standard helps in recognizing internal as well as external project risks and involves procedures for enables the project manager to identify and manage risks. Other important standards that should be observed include the project management standards and program manager standards (Ramazani & Jergeas, 2015). Generally, these standards help in guiding the project towards achieving its objectives within the specified time.
Qualities of a BPM graduate to get employment in a PM profession
Learning outcomes and university graduate qualities
Project management degree facilitates students with the core project management skills, theories as well as approaches in the modern complex business environment. Students are thought fundamental subjects such as risk management, statistics, psychology, project finance, analytics, and organizational behavior (Fisher, 2011). After studying and graduating from this course, the graduates will definitely have the necessary qualities that will make them qualified for employment in a project management profession. Graduates definitely have qualities such as extensive disciplinary expertise because they learn they lined various subjects of different disciplines which are important in project management. Additional discipline such as psychology is an added expertise that graduates have. Another quality that they have include broader skills such as the ability to communicate effectively, inventiveness, critical thinking and problem solving as well as information digital literacy (Fisher, 2011). Cultural competence is another quality that graduates have because they studied in culturally diverse environments and also taught about the significance of cultural diversity. University comprises of various students from various cultures and ethnicity. Therefore, as students interact and learn together, they tend to develop cultural competency (Fisher, 2011). Graduates also possess interdisciplinary effectiveness since they have prior knowledge and experience of interacting and learning from different disciplines. Moreover, graduates have integrated professional as well as ethical identity and also the quality to influence others due to their knowledge in project management and other interpersonal traits.
One of the core competencies that one needs to have in order to be employed in the project management profession is self-evaluation. This is a means that can be used in increasing shared understanding regarding competencies development. Competencies are critical aspects that are considered when hiring project management professionals. To get employment in the project management profession, one needs to have an achievement drive, the willingness to focus on or effective performance in the project activities (Ramazani & Jergeas, 2015). One should also have leadership skills, putting emphasis on people so as to increase collaboration aimed at being productive contributing to the success of the project. Conflict management is critical. One should have the ability to arbitrate as well as resolving differences when they emerge. The individual should be initiative; that is to mean that he or she should have the ability to recognize as well as acting on opportunities that they identify in order to be more productive (Ramazani & Jergeas, 2015). Additionally, they should also have the capacity of creating opportunities during the project life that are geared towards the objectives of the project. One should also have analytical thinking skills especially during problem-solving by breaking down problems into sub-problems then diagnose them using rational principles.
Leadership is another core competency that one should have in order to be employed in a project management profession. This mostly applies to those that seek to be employed as project managers (Ramazani & Jergeas, 2015). One should have management skills which involve the ability to plan, organize and control project activities and processes. One should also have leadership skills such as the ability to influence, being enthusiastic and motivating.
To sum it all, project management is very important in every project. Various industries do have projects and their project management is conducted in different ways and has different nomenclature and terminologies. It is evident that there are a number of competencies and qualities that are required for one to be employed in the project management profession and graduating from a project management course puts one in a position to qualify for this position due to their competencies, qualities, and skills acquired at University.