Our Clint Rating: 4.8 Start Based on 17 users
There are a lot of project management frameworks, methods, models, best practices and techniques, all of which are used to ensure that organizations will achieve their goals. Listed below are the more recognized and internationally accepted project management frameworks and methods.
PMBOK® Project Management Book of Knowledge
PMI – Project Management Institute is a world industry leader in project management. This is most widely applied in the United States but have garnered international recognition and application through the years. Their qualification (PMP) is the most widely recognized qualification for Project Managers. PMI global standards provide guidelines, rules and characteristics for project management. It has 10 knowledge areas as listed below.
|Core Knowledge Areas||Facilitating Knowledge Areas||Coordination Knowledge Areas|
|Scope Management||Communications Management||Integration Management|
|Time Management||Human Resources Management||Stakeholder Management|
|Cost Management||Risk Management|
|Quality Management||Procurement Management|
Its key features are:
- allows holistic and detailed project management approach
- The guide provides easy to learn and apply methodologies for every project manager
- Covers procurement, pre-assignment and negotiation for the team and also clearly identifies human resource management
PRINCE2® PRojects IN Controlled Environments
This is a process-based method for effective project management. This is extensively used by the United Kingdom’s Government. PRINCE2 is also widely recognized and practiced in the private sector in United Kingdom and internationally. Some of the key features of PRINCE2 are:
- Focus on business justification
- Defined organization structure for the project management team
- Product-based planning approach
- Emphasis on dividing the project into manageable and controllable stages
- Flexibility that can be applied at a level appropriate to the project.
ISO/IEC 21500 Guidance on Project Management
This is a globally accepted guideline which in essence means it becomes a global project management language. This prevents any confusion that may arise between other methods and models due to variations in definitions for similar project management products and activities. This also paves the way in having a common understanding among international project team members. The ISO 21500 becomes an ideal starting point as this is a framework once the group reaches an agreement on what has to be done, based on the framework they will have the complete application of project management after which the organization may look further to varying methodologies, models, techniques, best practices.
Listed below are some of the most key advantages of project management
- Risk Management – through proper project management an organization will be able to identify and take into account possible risks or threats that may hinder the project’s success. It also allows organizations to understand possible areas contributing or ultimately completely causing failure.
- Cost efficiency – one of the key benefits of successfully managing projects will be the ability to deliver the finished project at the planned time and within the budget. Properly managed projects are completed within agreed upon timelines because tasks, resources and costs are properly accounted for at any point in the project lifecycle
- Ensures on time delivery – as noted above completion of the project on time saves cost. Any project that takes longer than planned will have effects on the budget. The value of project management is that it provides a means of setting goals within realistic timeframes.
- Prevents Scope Creep – if a project was well-planned and executed the control of the scope will not just be properly identified right at the onset but any modifications will no longer be required as the project goes along
- Effective Group Communication - When the process of project management is applied it sets up an established system for communication between team members, project managers and clients. The very nature of scoping out a project offers an agreed-upon course of action to obtain the desired result. In essence, that means everyone is on the same page from the start of the project. Additionally, ensuring that a project stays on track requires constant communication with the various team members responsible for each piece of the overall project. That forced communication keeps everyone in the loop as the project evolves. And, finally, having a clearly identified project leader, means clients have a direct and known point of contact with whom to communicate
1. Project conception and initiation
During this first phase, a decision making team will identify if the project can realistically be completed, risk assessment will be done so that the project will be carefully examined to identify whether or not the project will be beneficial and at the same time the effort will be worth the cost and time.
2. Project definition and planning
In this phase a clear project plan, project charter and/or project scope should be documented to outline the work to be performed together with the timelines. This phase the activities will be prioritized, budget fully taken into account at every step as well as the proper schedule, timelines and resource allocation.
3. Project launch or execution
In this phase, the resources and tasks are distributed. Every member should also be informed and all aspects of the project execution will be discussed with all concerned personnel.
4. Project performance and control
Project managers will compare project status and progress to the actual plan, as resources perform the scheduled work. During this phase, project managers may need to adjust schedules or do what is necessary to keep the project on track. There will also be quality control and cost verification to ensure that the progress stay within target with regards to timelines and budget.
5. Project close
After project tasks are completed and the client has approved the outcome, an evaluation is necessary to highlight project success and/or learn from project history.
At Nbiz we facilitate the complete implementation of the project management processes and also enable it. We will sit down with key personnel in the organization and ensure that we fully understand the requirements. We ensure to provide beginning to end services or involvement in the many different phases of the project.
- Microsoft EPM or Microsoft Enterprise Project Management Services
- Private Eye implementation
- Oracle EPM - Oracle Enterprise Project Management Module Implementation
At Nbiz we have a pool of project managers who have delivered various projects at various sizes for different kinds of sectors and industries. We are also fully capable to facilitate the training for the same. Not only do we possess and transfer the process knowledge at the same time we ensure implementation and more importantly the automation of these processes.