January 4, 2013 BUS 5668: Cases in Applied Project Management Assignment #1: Best Practices
From 1940 to present, Project Management has continuously advanced from line managers using a small set of processes that were considered nice to have to the formal assignment of one individual assigned as the Project Manager that utilized a formal methodology by which to manage the project. Often the term “best practices” is referenced within a defined methodology. Why must an organization capture best practices? What are the determining factors in base-lining a best practice? Can an organization have too many best practices? What are the impacts of establishing too many best practices that mandated by senior management for use on all projects? Provide one example of a Project Management best practice. (Video Lecture 2 and independent research) What are Best Practices? According to the Business Dictionary, And According to the Business Dictionary, “A Best Practice is a method or technique that has consistently shown results superior to those achieved with other means, and that is used as a benchmark (Business Dictionary).” Organizations that have had constant success have adapted a unique version of the best practice method that accommodates what they do. Many organizations use best practices to do the following (but not limited to): • Develop an understanding of the necessary requirements • Focusing on how to deliver the service / continue to deliver the service • Improve the perception of the customer(s) • Eliminate wasteful spending/investments • Increase productivity and employee morale • Improve Risk Management Using the best practices listed above along with other best practices the organization deem necessary, organizations can create a baseline to accommodate their organizations. A Base-line is defined as the current version of a project plan that guides project performance and against which the project manager compares actual project performance.(Portny, el.)...
Please join StudyMode to read the full document