Preview

The Importance of Project Management for Industries

Powerful Essays
Open Document
Open Document
2037 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Importance of Project Management for Industries
Project Management

Post-Graduate Diploma in Business Management

(Year 2011-13)

Dr. V K Gupta

Institute of Management Technology
Ghaziabad

Course Background and Objectives:

Project management has become crucial for operations in industries such as construction, information technology, IT, hospitality, and engineering and new product development. At one time project management was limited to civil and construction engineering programs where it was highly quantitative and technical. Modern day project management is applied to all areas with same level of success as in the established fields. The project management is essentially management of change while running a functional or an ongoing business is managing a continuum.

The project management has evolved recently into a full discipline of its own. PMI USA has been a pioneering organization to structure the project management methodology in a formal form. The project management methodology is being applied to projects in all spheres of business and industrial activities as well as in non conventional areas such as hospital, hospitality, space research, banking, healthcare, agro marketing and others.

This course given an insight into the elements of project management, how it relates to the overall long term goals of an organization and how to successfully achieve objective of an organization within constraint of time and cost.

The broad objectives are to learn:
What is project management and why we need to use it
How it relates to organization Strategy
Process of Project portfolio management
Project scope management
Principles of work breakdown structure
Project time and cost management
Leadership and team building in projects
Projects life cycle
Project activity cost and time estimation and scheduling
Projects monitoring and control
Risk management in projects and how to prevent project from failing
Managing international projects

Pedagogy The

You May Also Find These Documents Helpful

  • Best Essays

    Business Plan for Pm430

    • 3109 Words
    • 13 Pages

    PMI - the World’s Leading Professional Association for Project Management. (2012). Retrieved October 21, 2012, from http://www.pmi.org/…

    • 3109 Words
    • 13 Pages
    Best Essays
  • Better Essays

    References: Gray, C. F. & Larson, E. W. (2008). _Project Management: The Managerial Process_. Boston, MA: McGraw-Hills Companies, Inc.…

    • 1150 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    ITMG624

    • 4112 Words
    • 21 Pages

    This course provides students with the foundations for effective project management in modern organizations. The course begins with a comprehensive introduction to the main components of the project management discipline. Specifically, a comprehensive and thorough examination…

    • 4112 Words
    • 21 Pages
    Powerful Essays
  • Powerful Essays

    Risk Management Plan

    • 2116 Words
    • 9 Pages

    Project Management Institute. (2008). A guide to the project management body of knowledge Retrieved from http://ezproxy.gsu.edu:2048/login?url=http://www.books24x7.com/marc.asp?bookid=29854…

    • 2116 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Assignment Rpm-700

    • 2446 Words
    • 10 Pages

    Project Management Institute, Inc. (PMI) defines project management as "the application of knowledge, skills, tools and techniques to a broad range of activities in order to meet the requirements of a particular project." The process of directing and controlling a project from start to finish may be further divided into 5 basic phases:…

    • 2446 Words
    • 10 Pages
    Good Essays
  • Good Essays

    Unit Plan

    • 3461 Words
    • 14 Pages

    Project Management Institute (2008). A guide to the project management body of knowledge (PMBOK@ Guide) (3rd ed.). Newton Square, PA: Author.…

    • 3461 Words
    • 14 Pages
    Good Essays
  • Better Essays

    PMBOK (2004) 3rd Ed. A guide to the project management body of knowledge, Project Management Institute.…

    • 1943 Words
    • 8 Pages
    Better Essays
  • Best Essays

    Corwin Corporation

    • 4432 Words
    • 18 Pages

    Project Management Institute, Inc. 2008. A Guide to the Project Management Body Of Knowledge. Fourth Edition. USA: FSC.…

    • 4432 Words
    • 18 Pages
    Best Essays
  • Best Essays

    Over the past few years, project managers and project management has grown tremendous growth. Project management has evolved over the past several years from an activity in an organization to a discipline in its own right. Many professional bodies exist today to represent project management as a discipline, some of which include, PMI and PM Bok.…

    • 1130 Words
    • 5 Pages
    Best Essays
  • Powerful Essays

    Orion Shield Project

    • 5525 Words
    • 23 Pages

    Executive Summary The basic concepts of project management calls for proper planning, organization and the management of a variety of resources in order to successfully achieve a certain goal. One of the most important objectives of project management is the ability to deliver a product or service within a certain time constraint or “on time” as well as being fiduciary responsible or “within budget.” Thus, it can be seen that good project management makes efficient use of time, money, personnel, materials and supplies, and methods of communication in order to successfully complete a project. Unfortunately, these basic methods of project management were not…

    • 5525 Words
    • 23 Pages
    Powerful Essays
  • Better Essays

    Lease vs. Buy Assignment

    • 1778 Words
    • 6 Pages

    Project Management Institute (PMI). (2013). A Guide to the Project Management Body of Knowledge (PMBOK guide) (5th Ed.). Newtown Square, PA…

    • 1778 Words
    • 6 Pages
    Better Essays
  • Satisfactory Essays

    Project management has found wide acceptance in industry It has many applications outside of construction…

    • 999 Words
    • 4 Pages
    Satisfactory Essays
  • Good Essays

    Leading Teams

    • 705 Words
    • 3 Pages

    PMI - Executive guide to project management. Provides an outline of the project management process, benefits and considerations involved in implementation. Packed full of information. The last page provides a comprehensive list to help get the ball rolling when considering beginning a…

    • 705 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Volkswagen Mexico Case

    • 459 Words
    • 2 Pages

    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.…

    • 459 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Doing something special for the one you love is something that has been done throughout the ages. Studies have shown not only does an act of kindness strengthen personal relationships in marriage, but it also has positive health benefits resulting from social family gatherings and traditions. The proposed project presents a scenario of exploiting such a positive bonding. It shows the results of what can be accomplished by a bringing together an annual special occasion and creatively fusing it with family interaction. My wife has her 31st birthday coming up in 6 months and both of us have not seen family in years. The best opportunity to celebrate her birthday with family and do it in a special way for her, would be during a surprise dinner event held in her hometown. Project selection is appropriately aligned with strengthening marital as well as family ties. The paper explores potential dinner venues of commercial, catering, and home using a multi-weighted scale matrix. It lays out a project scope, vision, and goal. A detailed Work Breakdown Structure provides the basis for the top-down/bottom-up cost estimation, scheduling activities, and resources allocation analysis. A project network path is presented to identify the critical path in the project. Recommendations are offered to avoid potential risk factors and contingency scenarios. Ultimately the project hopes to achieve a surprised spouse on her birthday with friends and family, on time and within budget.…

    • 2704 Words
    • 11 Pages
    Powerful Essays

Related Topics