Principles of Project Management

Introduction to Principles of Project Management

Awareness of project management has profoundly affected the initiation and execution of several projects in different sectors of the economy. In my capacity as a student, the Project Management Knowledge Guide and Knowledge (PMBOK) have given me an informative opportunity to learn more in this field. During the course, I am confident that I have developed some important skills and competences that will play a major role in helping me successfully handle a PMI. To offer an in-depth understanding of this topic the concept of a project is essential and it is an undertaking that is deliberately planned to create an end-use service or product for purchase by buyers. The project management and project management can also be characterized as the deliberate application of methods , strategies, skills and specific ideas or information in the context of a project's activities, so that it can fulfill the requirements of the proposed project(Alias, Zawawi, Yusof & Aris, 2014). There are different projects which entail different goals and targets which include: Streamlining operating procedures, reduce corporate costs and overheads, boost manufacturing process performance and increasing the business revenue streams.Before any organization makes a decision to select a specific project, a team is tasked to carry out thorough reviewing, and after the project has been adopted, the team is also given the responsibility to analyze the project. It focuses on the success of the management of projects, in order to maximize the productivity of the project, and provides an insight into how the management of projects as a subject has influenced the history of Amec Foster Wheeler.

Amec Foster Wheeler

The company Amec Foster Wheeler is a leading engineering, consultancy and project management firm that is currently present in over fifty nations around the globe. This leading firm specializes its activities in clean energy, oil and gas industries, and infrastructure markets which are a big deal in today’s world. Amec Foster Wheeler consists of a large base of workers numbering well over 40000 all around the world. For any big company like this one, it is critically important that its workers have the required working materials needed and in addition, they be highly skilled and talented. This attribute ensures the best services are provided, which helps the company to make great strides in its endeavour. Amec Foster Wheeler's skilled and trained staff include project managers, analysts and environmental consultants.To the stakeholders, effective project management helps them a great deal because it directly benefits all of them. Amec Foster Wheeler wishes to become the leading expert delivery in terms of reputation and excellence. The management, lenders, vendors , customers and financers of most of the projects performed by the project management firm are among the example of the Amec Foster Wheeler stakeholders.

Amec Foster Wheeler utilizes the APM Body of Knowledge in its undertakings of the products involved. The principle of effective project management involves having the knowledge and understanding of the goals of the intended project, developing proper and clear methods of how to achieve the set goals and being able to set a time frame which will dictate when the various activities will commence and come to an end (Alias, Zawawi, Yusof & Aris, 2014). Logically speaking, the main goal of project management is to ensure the complete understanding of the projects and the role they will play in order to ensure the successful execution of project by all stakeholders involved in any project undertaken by the organization.The project manager has the important duty to remain accountable to all activities and processes that happen during the period of working the project. Also, he or she ensures that the project he or she is in charge of meets all requirements set by the client.

Project Management Techniques

There are several practices which are very important for effective project management to take place. In the course of studying this subject, I have learnt several of these important practices, and they include; Good and open communication, accurate recording of data, proper risk management and control of the project from start to finish, all legal and ethical aspects are valued. The Amec Foster Wheeler organization ensures that all parties involved in a given project have clear communication networks. The concept of open communication is important because it helps enhance collaboration between different organization players, thereby increasing the productivity levels of stakeholder transparency. The concept of open communications is important. Some of the communication channels used by the company to communicate with their stakeholders include open project meetings.

Such meetings ensure that the message is well received by everyone since they attended the meeting. Another practice which has been implemented is the one for proper documentation (of activities, finances, and processes). This practice is very important in that it helps improve and enhance accountability, responsibility and effectiveness in the company. To help a project to have higher chances of success, proper risk management is key. Amec Foster Wheeler, in this case, has established an effective and reliable risk detection program that ensures a well-detected recognition of all risks in the future and the implementation of appropriate intervention policies to minimize the consequences of the risks.The arm of the company that deals with the risk management factor ensures that the system works accordingly to minimize the risk of any losses from occurring.

Most of the project managers who run their company with Amec Foster Wheeler use self-evaluation techniques to document and equate their abilities and competences to those listed in the APM Knowledge Body. This is a very important practice as it helps the company to ensure that all their staff (project managers) are competent enough to carry out their duties as required by the prospective clients. When a project manager conducts regular monitoring of the project, it is an effort to ensure the project is running smoothly and in accordance with the stipulated aims and objectives that were set at the onset of the projects. Another advantage of regular monitoring is that it provides the opportunity of identifying any mishaps that may be present in the projects. According to law, every project must comply to set standards both legal and ethical ones and to take this into consideration, and it is important to comply as the project is being carried out to avoid unnecessary repercussions that may come up as a result of non-compliance.

Importance of Teamwork and Leadership in Effective Project Management

The firm Amec Foster Wheeler has developed a genius strategy of setting up project teams which have been mandated with specific tasks which collectively ensure that the projects are completed successfully and within the set time. The idea behind forming of teams is to minimize the workload while also improving the problem-solving capabilities of the organization. When comparing between employees who work as teams and those who work as individuals, the latter tend to show lower levels of performance and productivity as compared to those who work as different teams. This can be due to collective efforts that also lead to increased productivity, encouragement and creativity in teamwork activities. In the environment of teamwork, better and more informed decisions are made, and this is because the members of the team have consultations. Strong teamwork goes hand in hand with effective leadership, and due to this fact, the right style of leadership at Amec Foster Wheeler is vital. Competent project managers are the best example of effective leadership in such a company, and as a result, there are greater chances of success (Burke, 2013). Clear, effective leadership should also be able to encourage and empower members of the team to do their best for the better.

Ideas to Boost and Enhance a Project's Success Rate

The success rates of projects are very vital to the company's reputation in the consumer market. To help the company achieve higher success rates in their projects, several strategies can be put in place, and they include: encouraging employees to come up with self-profiles which becomes part of a personal development process which helps in mapping out the career path of most employees of the organization (Gray, Cook, Natera, Inglis & Dodge, 2008). These self-profiles will help the employees to establish their abilities and competencies. Another strategy which is encouraged is that of Continuing Professional Development (CPD). This strategy ensures that employees work well within their allocated time frame and budget. Another key strategy that helps is the holding of monthly project management forums which are aimed to discuss various project teams and what they have accomplished.

Conclusion on Principles of Project Management

Driving a task towards progress requires the person in charge to finish the work by the associates capably and effectively. It requires the person to have an undeniable vision, clarity in reason, helpful in arranging and the ability to attract a capable person and capable group.

When we have an extraordinary task the board forms set up, we will have the option to grow from that point. When our group is ready of utilizing a project management tool, communicating successfully, and finishing their work on schedule, at that point we can begin to expand on that establishment and present new procedures with those key aptitudes as the premise.

The subject of project management is wide, and it means that a project manager requires utmost competency in their skill and capability. In addition to this, teamwork and effective leadership is the key to the success of a project management company like Amec Foster Wheeler.

References for Principles of Project Management

Alias, Z., Zawawi, E. M. A., Yusof, K., & Aris, N. M. (2014). Determining critical success factors of project management practice: A conceptual framework. Procedia-Social and Behavioral Sciences, 153, 61-69.

Burke, R. (2013). Project management: planning and control techniques. New Jersey, USA, 26.

Gray, R. M., Cook, M. B., Natera, M. T., Inglis, M. M., & Dodge, M. L. (2008). Project Management: The. In Managerial Process”, McGraw-Hill.

Butler, Arthur G. “Project Management: A Study in Organizational Conflict.” The Academy of Management Journal, vol. 16, no. 1, 1973, pp. 84–101.

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

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