Project Management: An Initiative Toward Development of Employees and the Company

1082 Words Sep 7th, 2010 5 Pages
Project Management Paper
University of Phoenix
MGT/437

Project Management Paper Rapid growth of technology in the marketplace has companies examining ways in which businesses operate on a normal level. Managers face challenges with the task of adapting to a changing surroundings and a different breed of employees. Managers must implement a different approach that will allow them to become accustomed to situations that develop inside and outside of the company (Kerzner, 2006). Project management will assist managers in moving forward to reduce bureaucracy and launch flexible actions or tasks that will advance the company and the employees.
Project
In order for managers to accept project management, understanding a
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A company will evaluate if the project is worth the risk, profitability, timeframe, and potential resources needed to perform the project. In order words, the company will decide if the project is feasible. The next phase is the planning phase. Planning involves more detail information that was obtained from the conceptual phase. For example, if a company decides to purchase new equipment, therefore, the project manager will provide estimating cost from several vendors to purchase the equipment. The project manager will also include the cost of installation, timeframe to deliver equipment, shipping charge, and other additional cost involved in purchasing the equipment. Planning phase would involve detailed information before moving to the next level of testing. Once a project has been considered feasible and planning has begun the next phase is to test or finalize the project. In this phase all cost of the project must be established, documentations, schedule of performance, and analysis reports are completed. Next, the implementation phase is put into action. Now back to the example of purchasing the new equipment, once management has moved from the conceptual phase to, planning phase and to the testing phase and implementation phase which the equipment is purchased from the selected vendor. Implementation is putting the project into motion. The final phase is the closure

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