Project Management Recommendations example

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Project Management Recommendations

From: Project Management Process Adviser

To: Mr. Michael Corleone

Issue: Project Management Process Recommendations

Date: 25th Nov. 2016

Dear Mr. Corleone,

any change into the project management process should start from the analyzing of the main reasons of the previous projects running inefficiency. As for the Capital Products Corporation the major problems that were reported include:

Improper calculation of the project schedule;

Poor distributing of available budget and resources among project execution stages.

However, these are only the most apparent reasons. The root of the projects poor execution is not following of the main stages of the project planning and control. The core of Capital Products Corporation’s business is the uniqueness of its gifts, electronics, gadgets, and other related items. Therefore, the start-up capital can be relatively larger than for ordinary products at the market. At the same time, it is very risky to invest such large sums, having a negative experience of past projects implementing.

The new project will develop and launch the innovative luxury product. In order to avoid previous failures indicated above, it is necessary to consider the following. According to the PMBOK Guide (2013) project management is the application of the skills, knowledge, tools and techniques to develop the list of activities to meet the requirements of the project. As a whole, a well-thought project management process includes 42 grouped project management processes that are divided into 5 main process groups. They are initiating, planning, executing, monitoring and controlling, closing. Moreover, to manage a project wisely it is needed to identify requirements, address different concerns, expectations and needs of the project’s stakeholders, balancing the constraints in scope, schedule, quality, budget, resources and risks of the project.

First of all, for the new innovative product launch it is essential to develop a Project Charter. According to the PMBOK Guide (2013) it is a formal document that authorizes a project by fixing initial requirements that satisfy the needs and expectations of the stakeholders. The inputs for this stage include project statement of work, business case, company’s environmental factors, organizational process assets. Further, project’s stakeholders should be identified as all persons and organizations that can be impacted by the project. Stakeholders register and stakeholders management strategy relating to their involvement and interests are the outputs of this stage.

The next stage of project management involves the planning process techniques. They include defining the total scope of the project, defining and refining project’s objectives and developing the needed actions (PMBOK Guide, 2013). The output of this stage is the Project Management Plan. Repeated feedback loops are received for additional analysis as the outcome of the multi-dimensional nature of project management. At this stage all aspects of the time, scope, costs, quality, risks, communication, and procurements are investigated. The project team has to facilitate the active involvement of the stakeholders into the development of the Project Management Plan to predict any possible risks and constraints.

During the planning process, project requirements are collected, …

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