Management is the application of scientific knowledge and information to various activities aimed towards solving a problem. Get the latest information about the introduction of new technologies and their applications in real life with Researchomatic’s most informative and content-rich sample essays.
has the World's largest database of Management topics that help Students, Researchers & Teachers develop multiple academic product
This paper has explored the concept of project management and its benefits. In the current business environment, it is difficult to achieve a sustainable competitive advantage. The management of information is a core aspect of every business. An increasing number of organizations are dealing the issues of information management and information regulation. The management and access of information is a significant challenge faced by businesses in the current environment. It is, therefore, important to develop a framework for managing information. Project management provides organizations with the framework required to manage and access critical information. This research has identified that the success of project management depends on the alignment between business goals and project management objectives.
Table of Contents
The Relationship between Business Objectives, Programmes and Computer Systems Projects1
Conceptual Model for Project Management5
Project Management Case Studies6
A project can be defined as unique efforts that are undertaken in order to achieve a desired outcome. In the current business environment, it is difficult to achieve a sustainable competitive advantage. The conditions that surround the business environment include intense competition, increasing pressures to cost cutting, and uncertainty. In this business environment, the traditional approaches to management are no longer successful. The factors present in the business environment have created the need for an innovative approach to management (Gošnik, 2011, pp. 15). One of these innovative approaches is managing by approach. Managing by project approach helps organizations discover new market opportunities when the competition is intense, develop a sustainable competitive advantage, and manage multiple tasks. Managing by project is a progressive business management approach that helps organizations to manage key projects. The approach leverages cross functional teams and support organizational change. The approach is applicable to small, medium, and large organizations.
The Relationship between Business Objectives, Programmes and Computer Systems Projects
In the 1950s, information technology was first implemented to support organizational work. The increase in the use of information technology in organizations is related to the diversity of organizational activities. The diversity of organizational activities has resulted in an increase in the use of computer-based information technology. Information technology can be defined as the application of computer based technology in modern organizations. Information systems aim to support organizational activities regardless of the domain in which they operate.
In the beginning, it was quite easy to describe and utilize information systems in an organization. With various developments taking place in the field of information technology and the use of information systems, it has become difficult to explain the purpose and use of information systems in organizations. Information systems evolved from the application of computer systems in order to automate the processing of information and to produce effective results. When explaining the role of information systems in an organization, it is important to mention the context in which they are used. The aim of information systems is to provide support to managers and conceptual frameworks.
Information systems are used in organization in order to provide support related to the process of decision ...
Earned Value Management
Earned Value Management
Earned Value Management (EVM) got developed in the 60s as a financial analysis techniques. It became popular in the next four decades as a Technical Project Management. Today is also known as a Technical Program Management. EVM got adopted by the National Aeronautics and Space Administration (NASA), the Department of Energy United States Department of Defense (DoD). In the last three decades got widely adopted by managers and international executives. The ANSI/EIA-748-B-2007 has standardized the use of the Systems Earned Value Management (EVMS) that got adopted in many countries for their procurement programs and procurement.
EVM mainly covers the three most important knowledge areas of Project Management: Scope Management, Cost Management and Time Management. EVM unifies these three areas into a common conceptual framework to represent mathematically the relationships between them. Although EVM is not known to be so strong in further fields, for instance, Project Management Stakeholder Management, could be employed to radically progress project sensation ratio, when complemented along with additional methods of project management.. In such paper, we will evaluate the article,” Applying Earned Value Management to Software Intensive Programs” which is written by Bob Hunt, and was published on April/16/2009 at www.plastics.com.
Earned value management is a method of project management for planning and control of time and budget. Earned value management provides an objective measure of how much work got done in a project in relation to time and budget. Earned value management allows the project manager identify performance trends and early detection of variations in timing, and costs, which allows to implement corrective measures (Hunt, 2009).
Only results count - expenses are costs, but still no result. Over-optimistic expectations about the real progress of the project in this way revealed soon - wishful thinking is a thing of the past. The EVM indicators show cost and schedule trends without window dressing. If they deviate from the planned dates, acts can be promptly and proactively. Respond belongs to the past.
The implementation of equity-based performance (PBEV)
Earned value in the hands of the Project Manager is a tool that allows you time to learn about the dangers of failure of the project at an early stage of implementation, when done for only 15% of the planned works. Warning of a possible failure of the project manager will most accurately determine the need for funding to complete the work. When you receive a poor prognosis, may be taken timely steps to correct the final results of the project. If project participants will monitor the actual cost of the project from the outset, the project gets implemented will be able to respond more set originally planned consumer properties (Garrett, 2007).
Earned value and although there was three decades ago, got tested and took on the dignity of his place alongside other project management tools are still not widely used. Used primarily by the U.S. Government, it has established itself as an effective means of control and development of new systems produced by the ...