Project Management Research Paper Example | Topics and Well Written Essays - 750 words

Project Management - Research Paper Example PM has appeared as an efficient tool for addressing the intricate needs as well as requirements of present business environment. Moreover, PM is a type of management discipline which strengthens various economic activities of a company within an industry. Project Management Institute (PMI) is an internationally recognized not-for-profit membership organization for the profession of project management. PMI consists of 600,000 members as well as official document holders in over 185 nations (Bialaszewski 1-17). There are various phases or processes of PM by which a project should be managed in various steps and these entire steps are interrelated with each other. Project is managed by planning, implementing, monitoring and controlling procedures. The first step is the initializing process, where objective and scope of project is clearly defined. The objective of the project depends on the business requirement (Bialaszewski 1-17). The second step is planning process. ... Moreover, in this phase, project manager is responsible to analyze whether or not extra fund is required for executing the project (Bialaszewski 1-17). The fourth step is controlling procedure; as in this step project manager is responsible for controlling as well as rescheduling the entire project to keep the process on right track. Essentially, in this stage, customers’ deliverables are created as well as project manager is accountable for quality pledge and deliverable signoff (Bialaszewski 1-17). The final step is the project closing stage. In this stage, reflection on the success of the project takes place. It is reviewed that what kind of possible changes if any would be implemented if similar project is conducted in future (Bialaszewski 1-17). Communication is one of the most important aspects within a team to make sure of best potential outcomes. When PM processes are utilized in order to complete a project, an effective communication is essential within a team. From t he first stage of PM process if the planning thoughts are not communicated in a timely, accurately and relevant way then there would be a considerable obstruction in the completion of any project (Bialaszewski 1-17). ‘Emotional Intelligence’ is one of the crucial aspects than ‘Intelligence Quotient’ in envisaging leadership success. A project leader is assigned to work with members of various attitudinal types in order to complete a project, thus the project leader needs to demonstrate the quality of emotional intelligence in decision making (Bialaszewski 1-17). Time management and cost are the two necessary considerations which are intrinsic to quality of any project. Moreover, inefficient