Project Management for New Product Development

Construct a report to your senior management team summarizing the business benefits of project management

Project management is crucial for the completion of different tasks within an organization, when projects are well managed, programs can be completed within the right time using as minimal resources as possible. A project utilizes the organization’s resources, one of the major tasks that project management should aim at in ensuring that the project utilizes the available resources in the most effective manner.

It is also expected that in course of managing the project may have some areas that can be differently handled to improve the general outcome of the project; with effective management, such areas should be well-known and appropriate measures taken.

When undertaking a project, it is not always that the available resources will be adequate; project management ensures that allocation of the available funds is optimal and use delay tactics that will not delay the completion of the entire project to manage the resources.

According to the PRINCE2 project management approach, human capital directly and indirectly involved in the operation of the project is the crucial part that needs to be managed effectively; the success of a project is dependent on the capability, motivation, expertise, and human resources management of the team involved. Project management assists a company to concentrate further on the micro team mandated with the task of completing the project; it handles special issues that arise in the efforts of making an orchestrate successful team.

Construct a report to your Project Director summarising the business benefits of your project. Justify your conclusions with reference to the strategic analyses conducted

My project seeks to address the issue of human resource time management within an organization; employers pay salaries to cater for the time, expertise, effort, and intellectualism that its human capital has. When human resources fail their duties because of their health condition, then the organization will have lost some labor of which it is paying at the end of the month, the following are the main benefits of the project to an organization:

To ensure that the human force in an organization is healthy

Health is a basic need which when attains makes a person able to make use of his or her personal skills; employees need to be healthy if they have to produce effectively; when they are suffering, and then they are unlikely to offer a high return to the organization.

To ensure that medical bill in the organization is well managed

One of the main expense that befalls an organization is the expenditure with its employees when appropriate diseases prevention have been enacted, then the company will benefit a reduced cost of medication to its human capital.

To help in managing human resources effectively

Human resources need to be managed effectively and the power, intellectualism, and expertise utilized effectively; when the human force is well in health, then an organization gets the chance to put them to the best use. This facilitates an improved operation and ensures that there will be continuous production.

Critically examine the wider project management structures in a typical organization. In particular, you should refer to the roles and responsibilities of senior staff in relation to the management of projects

A project can be defined as a designated ally of tasks that aims at accomplishing a certain task within an organization; it has a period, expected expenditure, expected outcome, and a work framework or schedule. An effective project undergoes the following main stages:

  • Initiation: This is when a decision has been made that a certain project will be embarked on.
  • Planning and development: at this stage, managers designate the available resources, time, and management to the project.
  • Project implementation and execution: this stage occurs when everything is well to go, the project manager and project staffs get to the task.
  • Monitoring: This involves controlling different operations within the organization to ensure that all processes are completed with time.
  • Closure: when all is good to go, the team manager puts the project to an end having attained the set objectives within the timeframe given.

Project managers have the role of overseeing that all the processes in the program have gone as planned; there should always the adherence to set objectives and following of work plans and work schedules, the following are the main tasks of project managers:

  • To make a winning and orchestrate team that will blend its experiences, power, expertise, and intellectualism for the good of the organization.
  • To ensure that the entire process goes according to plan and follows the right pathway as wanted.
  • To manage resources and ensure that work schedules are adhered to.
  • Monitor and control the processes and ensure that they are up to the required standards.

Describe the purpose of the Project Initiation Document in the implementation and control of your project. Critically assess its use at each stage of the project life cycle

Project Initiation documents are made to act as the blueprints that the project will be having reference to in the endure project processes. The documents create a framework to be followed when implementing a certain project; it involves establishing the approach to adopt when undertaking different phases of the project. It encompasses the following:

Determining how the planning will be

Planning itself need to be planned, at this stage the manager analyses the information and the project ahead of him and decides the best approach he wants to use to see to successes. The decision at this stage involves the team members to be involved, services to be outsourced, and sensitization to be done, seeking internal authority and external authority, and establishing an operational base. To effectively plan, there is a need to use the initiation documents as they will shape the direction of the planning.

Project implementation and execution

In Project implementation and execution, the documents are used to offer the coverage of the project and the areas that will be affected are analyzed, there should be proper documentation of the project and how it will affect different areas.

Monitoring

To ensure that project has been effectively controlled and managed, there is a need to have a blueprint that the controllers use to know whether the project is going according to the required pathway and it’s up to the required standards; initiation documents play this task.

Closure

A project is closed after it has been completed, at closure managers look back and gauge whether they were able to attain what they were mandated to do; the mandates are in the initiation stage so when closing the project they countercheck with the documents to gauge their success (Pons 82-97).

Critically examine PRINCE2 as a method of Project Management

PRINCE2 is a project management method offers a whole coverage of the areas that need to be looked into when managing a project, the method operates under the frameworks of the Project management triangle which looks as follows

PRINCE2

Other than emphasis on the physical resources of a project, the method goes further and looks into the human resources management within a project. It is an effective method of managing a project if its parameters are well utilized.

Critically examine and describe the purpose of leadership and communication in the implementation of projects generally. You should specifically consider the role of the project manager and the identification of other roles in the project team

When implementing a project, there is a need to have effective leaders who are able to make sound decisions regarding how the available resources will be used; the resources may include human capital, physical capital, and time capital. When they have the skills, they ensure that the project goes on according to the planned process.

Within a team, communication is crucial; project leaders have the role of developing effective communication strategies within the team and to the leader. Team workers should be given the freedom to air their observations, thoughts, and concerns using the right channel of communication. With good communication, the weak-points of the project can be established and appropriate measures to address the areas implemented.

The potential of team members can be fully utilized when team managers develop a favorable working environment that supports a positive organizational (project) culture; an effective communication framework supports such an environment. Leaders have the task of ensuring their team members are motivated and well managed to have an orchestrate project team (Newbold 12 – 90).

Works Cited

Newbold, Robert, C. Project Management in the Fast Lane; Applying the Theory of Constraints. New York: St. Lucie Publishers, 1998. Print.

Pons, Dirk. “Project management for new product development.” Project Management Journal 39.2 (2008): 82-97. Print.