Principles of Project Management

Introduction to Principles of Project Management

Most successful and leading global companies focus on developing a complete framework of policies for project management and human resource management. The global village IT structure is also dependent upon the core leadership and management styles that help shaping the future of a company as well as provide the employees i.e. human resources of a company with best possible career growth opportunities.

A lot of IT projects are thought to be mere technological aspects of human knowledge and no attention is paid is developing core values which are key assets of the organizational success. So when such a scenario happens, it ultimately leads to huge setbacks for the company and lack of effective management strategies results in poor work relationships while working in partnerships.

So it is utmost important for an organization to remain in compliance with ethical standards and effective leadership polices to strive for excellence.

Present Scenario of The Organization Considered in The Case Study

The case study reveals the professional ethics of the company named Amec Foster Wheeler. This organization is the world’s leading organization with overseas clientage. This organization provides services to oil and gas, mining, clean energy, environment and infrastructure markets. The company has an excellent Project management body of knowledge which emphasizes on the core values of the company. This includes a five step strategy including:

  • Initiating
  • Planning
  • Executing
  • Controlling
  • Closing

It provides multiple services including engineering tasks at glance but also consultancy services as well as excellent project management strategies.

The company experiences a market reputation in the global industrial sector as it focuses on timely delivery of services with ethical code of conduct and best potential use of talents of the employees and also to improve the partnership associations’ working.

The most promising approach that the company has is the diversity promotion in terms of both, providing services as well as project planning. The company plans projects in diverse range by employing the STEM approach (science, technology, engineering and maths) by engaging professionals from all spheres of knowledge i.e. environmental consultants, engineers, project managers and scientists into the multifunctional working environment.

The success of this organization is majorly due to the best leadership and management strategies that enable ethical conduct in the workplace. Also mangers helped this organization to remain in compliance with the legislative policies with ethical standards prevailing at international levels.

Not only compliance but certain other international legal policies are the company’s priority including the standards set by International Project Management Association (IPMA). Also it has a framework of strategic policy making in regards to Association for Project Management (APM), with set standards professionalism, processes and competencies.

Management Strategies in Compliance with International Norms

The company’s approach to project management follows a trend which combines the assurance for timely delivery accompanied with reference framework incorporating guiding principles and processes for effective work relations in the organizational domain.

For successful execution of all projects, the managerial functions are an integral role in shaping the the work map for the project as per the need and requirement.

The company also provides the specific governance to each project by a special criterion known as global project categorization and also guidance is provided to individuals on basis of individual potential in terms of decisiveness and leading the project by executing the company policies in the right direction.

Another important aspect for success of the organization depends on the competency measures in compliance with international bodies.

This organization follows the strategical management processes which recognize the policy drivers of the organizational success which include standards, professionalism, processes and competencies.

In addition to the management processes which are followed in the organization as per international norms, the company has developed an IT solution for accessing and storing the management policies which were developed in particular for that organization. So this became possible with iMap hyperlink enlisting the company authenticity policies.

Even the company has an educational institution Amec Foster Wheeler Academy, which envisages the development of best talent to retain in the company with a guided career map. This also helps to establish a framework for the personal development and for providing career growth opportunities.

Future Developmental Prospects

The future prospects of development of the company include achieving, improving, growing and collaborating. The future action plans depend on present career paths which help in analysis of the capabilities of the individuals. The capabilities were in accordance with organizational requirements as per the job position is concerned.

The company has developed self assessment criteria for managers and also they were recorded in accordance with APM based capabilities. The company has a strong criterion for self reflection and personal development review (PDR) for improvement in terms of future developmental goals.

The APM Body of Knowledge is used by the company employees for information on guidance to company policies.

Another important aspect that this company considers is continuous professional development which emphasizes continuous learning is important for career growth and also personal development.

Practical Approach to Application of The Company’s Core Policies

The legal approaches used by the organization can be employed in the present working environments of the companies. By following the compliance polices the organizations get safeguarded from the penalty issues incurred in case of non-compliance with legislative policies.

  • The organizations can develop the core abilities illustrated in the case study by following the legal policies pertaining at international standards.
  • Also diversity in workplace is a major issue to be considered both in terms of managerial activities employed for successful completion of tasks and also employment policies with a variety of professionals being recruited from varied areas of specialization.
  • In addition to this, the best policy that should be employed by every workplace is timely delivery of services and with best quality of work potential being put up in a certain task regarding project completion.
  • In providing the consultancy services about management and leadership, the company helped other companies working in partnership with them. This helped in developing small individual units with good exposure and also flexible support systems were provided as per needs of the company and their projects handled by other companies.

Reflective Opinion About the Company’s Strategy and Management Polices

As per my opinion, the company succeeded only because of the strong ongoing management operations with potential leadership qualities of top level managers who are member of APM. The compliance with legislative policies is an important aspect in terms company’s management policies. Also these legislative policies help to have a check on current capabilities of employees holding certain job positions. Also leaders have a great role in the organizational success or failure as the check on managerial caliber has a direct impact on organizational setup and task orientation in terms of use of best talents used for a particular task.

Also international standards are important for personal assessment of employees in promoting continuous learning procedures which ultimately result in increasing company productivity and also help in personal career growth.

Another important consideration is that the individual goals should be aligned with organizational goals, which is possible only under the guidance of a good manager with excellent leadership qualities. Sometimes developmental goals of individuals are not in accordance with organizational benefits and company goals. In such a situation it is important for leaders to come into action and help in aligning the developmental goal, ultimately leading to benefit of both.

Also the individual holding top management position who is a member of some international bodies of management and policy making, should conduct informal meetings so as to guide the fresh minds of corporates who are just hired up at specific job positions as per project requirements. This policy of guidance and supervision will help the organizations to excel in terms of monetary gains and maintaining business relations with clients and other organizations working in partnerships.

Another important aspect is that the company should help other organizational officials to get proper exposure to the outer horizons for working with other companies by providing good consultancy services. This helps in building trust and the authentic company policies are admired in all spheres of the industry. This increases company’s market value and also builds a confidence about the company’s working policies related to management. This helps to build up a trust in clients about the knowledge base of the company and potential employed in completion of projects while ensuring best quality work.

In addition to this, the concept of establishment of academic institution related to the corporate working is best for strategic and long term future planning so as to have a secure future of the organization. This helps to shape the company’s future as per needs of the future and ongoing market trends.

The whole management policy framework is not intangible feature with only theoretical perspectives, but also a software is developed for storage and safe access of company’s private management and leadership policies. Every employee of the organization is aware of this tech solution to a theoretical perspective of the managerial policies, thus ensuring transparency in the organizational framework.

Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Project Management Assignment Help

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