Q1. Project management is a science whereby project components are put in an organized manner whether a new product or service is being developed and launched or a certain campaign for marketing is being done. All this is geared towards achieving certain goals in an organization. Generally, the field of project management involves five major stages or processes which assist in achievement of the set goals and objectives. These are initiating, planning, production and execution, monitoring and closing. In the first stage of initiation, the project which is to be implemented is defined, its nature and scope is determined. Project managers should be careful at this stage to ensure that it is quite successful because it forms the basis of project management. Those concerned with the project implementation should first understand the environment in which the business operates and ensure that all necessary requirements needed in the project are put in place. Anything that is lacking in the whole process should be reported and quick action taken to fix them in place. This process should take into consideration the business analysis; review of the operations that the business is operating on, cost analysis where budget is included, the people involved in the project and a project charter. Secondly, the project is then planned to a certain detailed level. This stage defines several parameters to take place concerning the project such as time, cost and the resources to be utilized. This is done in order to manage risk at the time the project is being executed. If the project is not effectively planned, chances are that it may not be able to accomplish the set goals. In the other process of production and execution, the project is done to completion (Lock, p. 17).
In this process, the project managers coordinate the people and the resources involved in the project management as well as implementing the project in accordance to how it has been planned. The output is produced from the activities performed and as analyzed in the planning process. In general this is where the project begins. In the fourth process of project controlling and monitoring, the project manager updates the plans of the project from the previous stage. This is to show clearly the time that has been covered for each project task. Again, the details of the progress of the project are kept and followed effectively. This helps the project manager to know whether the project is taking the right direction or not. Finally, the project is brought to closure. In this stage, the stakeholders with the owner of the business analyses the project outcome together (Field and Laurie, p.437).
Q2. One surprising thing about the field of project management is that, though it creates effectiveness and efficiency in any business organization it is not part of the normal operations of the business. It is created once in a while in a business organization and it is not permanent but it usually deals with a specific part of the business operation. It usually causes consumption of resources because for project management to be successful then managers must make sure that initially, there are people, money and time to implement the project. Another surprising thing is that project management typically follows the same format regardless of the type of project that is being implemented. The success of a project depends on successfulness every stage in the five stage process. Again, the project has units own limits in terms of funding. This is due to the fact that the amount of money invested in any project normally depends on size of the projects. Not all projects implemented have the same cost (Kerzner, p. 29).
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