Project assignment on: Principles of project management
There are seven important principles of project management which are needed to be considered while undertaking a project:
(1) Justification of project: every project undertaken by a team or management must have a specific and focused objective that can justify the investment of some significant amount of money, time efforts within a project.
(2) Roles and responsibility: As per this principle of project management, project is a team activity in which, different team members must have a specific role and responsibility.
(3) Management by Exception: The responsibility of accomplishing project must be accomplished by project manger not by product sponsors.
(4) Management by stages: The principle implies to break the project down in different stages and subsections so that different project activities can be accomplished easily.
(5) Focus on result: Every project must be result oriented as different business activities undertaken within the project must be focused to attain the predefined results or standards.
(6) Learn to previous mistakes: this is the prominent principle of the project management which drives the project manager to keep records of different previous projects so that the mistakes done in the project previously would be avoided this time.
(7) Tailor to suit the environment: As per this principle the project manager needs to undertake the strategy which is the most suitable to the project and able to fulfill the need of the project specifically (Kerzner 2009).
Importance of defining success/failure criteria when managing projects
The management of the project is the phenomena in which all the project related activities are aligned in the manner so that the project can be able to achieve its desired objectives. In this regard, there is a need of having some specific factors on which the success and failure can be evaluated. Different success/failure criteria are quite crucial for the project manager in order to evaluate the progress of the project. As there is a need of making some significant investments in the project, it is quite crucial for the mangers to evaluate the project effectively. In this regard, success/failure criteria act as a benchmark for the successful project (Barkley 2008). The performance of the project should be monitored under the lights of such different criteria so that the success of the project can be ensured.
Comparison of the benefits of different systems of managing projects
Project management systems are the software which can be used for the purpose of having better management of different elements and aspects of the project management. The comparison among some of prominent system on the basis of advantage can be presented as below:
| Criteria |
24SevenOffice |
Apollo |
Bontq |
| Issue tracking facility | It provides this facility | Provides facilities up to a limited span | provides this facilities efficiently |
| Scheduling of activities | Schedules the activities effectively | Does not provides the facility | Provides facilities but to a certain extant |
| Project portfolio management | This system provides this facility effectively | Does not provides the facility | Provides facilities but to a certain extant |
| Workflow system | The workflow system is provided by the software | Does not provides the facility | Does not provides the facility |
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