Project Management ToolBox
Project Management Tool Box
All companies are faced with completing projects, whether it is to make a product, complete a service or an outcome such as a research project. Project Management helps to ensure that the projects are done effectively and efficiently. Project management is the “application of knowledge, skills, tools, and techniques to meet the project requirements.” (Project management body, 2008) There are 5 process groups associated including initiating, planning, executing, monitoring and controlling, and closing. Managing a project is complex, a Project manager needs to define and identify requirements, needs, concerns, and balance constraints such as recourses, schedules, budget and risks. The article “Volkswagen Mexico Revs up for Jetta Component Production” is a great project example. The project was to produce several motor and axel parts. The team was faced with many challenges to do so, such as time constraint of 21 months and a strict budget of $3.3 million. This project faced difficulties and setbacks such as a new supplier which set a 2 month delay on equipment. The Volkswagen team was able to complete the project within budget, on time, and meet quality standards by using standard management processes. Projects can determine a company’s success or failure. This is why it’s important to be proactive in projects such as the Jetta Volkswagen project. To be proactive the project manager should consider the project management toolbox. The project manager toolbox helps support standardized project management processes. To summarize the project manager toolbox the toolbox is “Designed as a set of predefined PM tools, the PM toolbox supports SPM process by providing a practical and tangible, yet systematic, way of producing a set of process’s managerial deliverables.” A couple examples of tools include a work breakdown...