Project management Essay Example | Topics and Well Written Essays - 2000 words - 1

Project management - Essay Example Each project undertaken is unique in terms of its timeline, cost, objectives, roles and responsibilities of all stakeholders and participants, issues and constrains and this requires the use of the right approach or methodology. The main challenges of project management are satisfactory achievement of goals and objectives and overcoming all project constrains. These constrains include time, project scope and budget. There is also a challenge of integrating and allocating necessary inputs. This means that a successful completion of a project and the attainment of its goals and objectives requires the use of the right approach or methodology and the utilization of appropriate project management tools and techniques. According to Ireland (2006), project management techniques refers to the ways in which we communicate, gather information and get things done in the most effective and efficient ways. Project management tools are helpful in the efficient organization and management of a pro ject. Generally, the project management tools and techniques should have an overall effect of ensuring that the particular project does not over run and that it operates within its allocated budget. They are also important for the quick spotting of delays so that necessary steps are taken to rectify them (Ireland 2006). Wysocki (2007) defines project management methodology as a set of practices and processes that are repeatedly carried out throughout the project in order to deliver the expected outcomes. The chosen methodology gives a clear process of managing the undertaken project. After customizing to the project environment, the project methodology directs on what should be done, how, in what order and by when. A project methodology can therefore be used create a project roadmap, control change and scope, monitor quality, time and cost, manage staff and supplies, and minimize project risks and issues. Popular project management tools, techniques and methodology in market Project management tools The most popular project management tools in the market are Gantt chart, PERT chart, Work Breakdown Structure (WBS), Logic Network and Product Breakdown Structure (PBS). A Gantt chart is a chart that illustrates the schedule of a project. The chart tracks tasks across time hence it indicates the starting and finishing dates of the projects’ terminal elements (Wallace and Gantt 1922). Some Gantt charts are able to illustrate precedence network or dependency relationships between various project activities. Most importantly, it is possible to use a Gantt chart to show a projects current schedule status. This is done using a vertical TODAY line and percent-complete shadings. A Gantt chart is important in tool for showing resources, tasks, phases and milestones required as part of a project. The Program Evaluation and Review Technique (PERT) chart is a project management tool used for the analysis of all tasks involved in the completion of a particular project. This mainly includes identifying the time required to complete each project task and the total project. According to Malcolm et al (1959), a PERT chart gives a graphic representation of a project as a network diagram composed of numbered nodes linked by directional lines. The numbered codes represent project events or milestones while the directional lines represent proje