Project management Essay Example | Topics and Well Written Essays - 1250 words

Project management - Essay Example It is usually, a temporary undertaking with specific goals in mind. It, thus, does not fall under the confines of normal business operations. As such, it is bounded by time, resources and the required results from the project. It, however, needs to be planned from the beginning to the end. A project is subjected to some certain constraints. These constraints range from time, personnel, money, equipment and the necessary facilities. The success of a project is hinged on the specific situation in which it has been employed. This stems from the fact that in some situations the concerned parties may be willing to sacrifice certain features for a hastened recovery. In dissimilar situations, parties may be willing to extend the respective timelines so as to build on quality results. The reality, however, is that rarely do projects run smoothly throughout its process. Research has shown that only about thirty four percent of projects are completed on time and on budget (Lock, 2007). Thus, each project that has been implemented has a significant probability of encountering snugs along the way to completion. For a project to be considered a success, it has to meet certain prerequisites. The project must meet its intended objectives and requirements. These are the reasons behind the formation of the project. Thus, it is imperative that it meets these objectives. In the event whereby some of the intended objectives and requirements are not met, it will necessitate a restructuring of the strategy that was employed as this forms the foundation of the project (Lock, 2007). In the event where this occurs, irrespective of the actualization of other factors of success, the project will still be deemed a failure. A project must operate within the confines of a pre-established budget. If it deviates from this budget the probability of failure significantly rises. The goal is to work within the constraints sourced from the budget and still met project goals, thus making the client happy. However, certain situations arise whereby, the set budget is not sufficient to cater for all the required features. The project management team has only two options to employ. It can either choose to ultimately increase the budget or it can decide to cut the scope of the project. Budget concern is the most vital. As such, the project management team must deliberate w ith the client on the features they are willing to sacrifice so as to stay within the allocated budget. This forms one of the reasons behind the rationale that effective project management is not an easy endeavour. The client might insist on the project meeting all the features in a situation where this is near impossible. To avoid such scenarios, it is imperative to iron out such details upfront before embarking on the project. A characteristic of any project is that it has three variables that can be adjusted throughout the process. These variables are the scope, the timing and the allocated budget. As such, it is important to find out from the client which of the variables are vital to them and which ones can be adjusted. Each project must strive to operate within the set timeline. This stems from the fact that it can result into havoc in the event where it is not appropriately managed. When a deadline has been established, the first question becomes whether it is a hard deadline or a soft deadline. A hard deadline does not necessarily indicate the complexities that will be encountered if the project is not complete by that time. Rather, it implies the nature of the deadline is such that, it has dependencies hinged on it. It is not impossible to alter but, it may eventuate in potentially embarrassing the client. In this