Integrated Project Management –Best practices for 2011
All organizations today use projects as the mode to translate strategies into performance oriented actions and their objectives into realities. There are also wide varieties of businesses today that live and breathe project management primarily because their firm happens to be project intensive. Further, breaking down each and every plan into organized projects is not easy in today’s complex and high-stake world. Scheduling and allocating resources, cost and budget management, communication and documentation of all process are prime areas of concern here, apart from the other complexities and dynamics of the business .The greater challenge would be to effectively integrate and consolidate all the mentioned areas until the project completion. So how does integrated project management come into focus here? Almost every industry since the nineties had started implementing project management software to overcome the basic hurdles of management related to budgets, tasks, time and resources. Broadly, the purpose of such an integrated project management tool is to establish and manage the execution of the project. It lays down a definite detailed process that is tailored as per organization’s policies and procedures and thereby allows the organization to effectively translate its resources.
If you are seeking out for an effective guideline to help optimize your project management tool or requirements management tool, here’s a consolidated list of best practices for Integrated Project Management for 2011.
- Understand the nature of the business and review all its project relevant activities.
- Undertake a comprehensive financial analysis ,cost and budget of the project with respect to its impact on the business.
- Carry out a stake holder analysis including users and support personnel for the given project.
- Initiating or kick start of the project as per the plan laid.
- Planning or development of resources, personnel and determining the scope of the project.This must include all kinds of scheduling, resource allocation and risk planning ahead. The project is thus to be begun after obtaining formal approval for the same.
- Execution of the project is to be ensured along the lines of the management plan laid .This will involve co ordination and integration of people and resources in a uniform manner.
- Constant monitoring of the project is to be done to establish any variances and corrective action should be initiated accordingly .The key benefit of close monitoring would be resource optimization and benefits the project as one of the most effective issue management tools.
- Closing project after establishing that is done in accordance with the blue print is the final phase of a project management plan.
An integrated project management system is the automated approach to a culmination of all the above mentioned steps. It can safely be concluded that the key to smooth execution of a particular project in any organization can be made possible through an efficient integrated project management plan. Go ahead choose your ideal issues management software and give your business that an unbeatable competitive edge!
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