Pmbok - Principles of Project Management

Assessment 4

Reflective Journal

PROJ6000

Prepared By

Anju Bhandari

00197719T

PMBOK defines project as a temporary endeavor undertaken to create a unique, product, service or result which may be tangible or intangible. To create those unique product, service or result we apply knowledge, skills, tools and techniques which is termed as project management. There are basically five process groups and ten knowledge areas in project management. They are:

Process groups                                        Knowledge areas

• Initiating                                        -Integration Management                        
• Planning                                        -Scope Management
• Executing                                        -Time Management
• Monitoring and Controlling                        -Cost Management
• Closing                                        -Quality Management

-Human Resource Management

-Communication Management

-Risk Management

-Procurement Management

-Stakeholder Management

Principles of Project Management revolve around these above mentioned groups and areas and hence sum up the basics of project management. Combination of these process groups and knowledge area define success in the project.

From my understanding project are temporary and hence gets closed after certain time.  The term project can have different understanding and definition based on the type and area of the project. Apart from project there are other terms which are associated with it such as programs; a collection of related projects and portfolio; a collection of projects that share common link to one another (Mustaro & Rossi, 2013).  The terms goals and objectives have different meaning in projects based on their application.

Project success is ensured by the proper utilization of the project management process groups and knowledge areas. There are many criteria which determine project success and one of the most important one is stakeholder satisfaction. Stakeholders’ requirements should be formulated together in a group to ensure success of project (Mustaro & Rossi, 2013). For a project to be successful it must adhere to different sets of standard and some fail to do so. Also the accountability of relevant tools and techniques are to be considered which include Work Breakdown Structure (WBS), Critical Path Method (CPM), and Gantt Chart etc. There are different project management methodologies such as PRINCE2, Agile, Waterfall, Scrum etc. Even if every methodology is complete in itself but only one methodology is not enough for the successful completion of the project. Project managers mostly adhere to one method and don’t really choose which would be easy and sophisticated to use and apply in projects.  

        Communication is another vital framework that is needed to be considered for ensuring the project success. Different kinds of reports, briefs, and meetings are taken into account for the proper flow of information in the project. The information to be provided must be clear, understandable and concise. It must be properly transmitted from provider to receiver and the receiving one must accept and approve the communicated material and provide feedback for the successful completion of project.