Business Project Management Down Risk and Cost

Question: Describe about the Business Project Management for Down Risk and Cost. Answer: Introduction Project management is an essential tool for the management of projects especially those involving an enormous scale and scope. It will help an organization to improve the success rates of the projects by cutting down risk and reducing cost .Managers are entitled to produce goods when initiating a project and managing they need to attain unique skills and knowledge to provide customer satisfaction in their product, the following case study of JJ Furnishings, Ltd will lay the ground work to what expected in project management (Young, 2013). Leadership styles in project management Leadership in project management is important since it acts as the force for the success of the project. I would use authoritative leadership style since the project manager dictates and controls all the decisions and tasks concerning the project (Martindale, 2011). They are considered to have a robust set of skills and knowledge efficient in foreseeing the completion of the project by leading the project team members meeting the vision, purpose, and goals. The members are without the utmost inexperienced and lacking in the set of skills required thus few, or none of their ideas are into consideration (Martindale, 2011). .All sets of tasks allocated are considered to be time critical, and a work plan is implemented structured with disciplinary actions, this prevents the team from drifting away from the vision and goals of the project causing avoidable consequences. Monitoring of resources and assessment of risks in the project environment are evaluated and controlled easily. This mak es authoritative leadership style as best solution for my project team . Techniques and tools in project management The tools and techniques sufficient for the use of the project team in achieving its goals in project management they are based the phases of project management they include Initiation project techniques These are techniques involved the first step of the project management. I would identify the team to handle the project by the standards required the project the next technique is the creation of a customer relationship which is exploited in meeting customer needs and preferences through the creation of a project initiation plan to define the activities required for the team to follow. The final technique in initiation phase is the establishment of the environment where the project is established by collecting management tools for the project Planning project techniques The project feasibility is identified. Which will be crucial in understanding the importance and complexity of the project, this will be simplified by dividing the project into a smaller task and allocating each member of the project which I would use to estimate the resources need by creating a support plan which will be controlled on the financial basis using a budget. Use of a communication and a work plan will be efficient for the team members to manage their work schedule in meeting the deadline and achieving minor set goals resulting to meeting the deadline and airing any grievances suitable for identification of any potential risk to the project (Kerzner, 2013). Execution project techniques The baseline of the project is initiated through acquiring resources orientation of new members but will be managed properly and make any necessary adjustment; the other technique will be the use of PERT and Gantt charts in monitoring the progress of the project which increases transparency in work. These tools will be essential in creating a proper sequence of activities, find the critical path to be used find the period for the operation located (Hwang, 2013. Creating a project workbook where all members key in details of their work proceedings which will be sufficient in communicating the status of the project, monitoring and managing the project members Project completion techniques Few methods are available at this phase since the project is almost complete, but few techniques are implored here for its crowning. Conduction of post reviews will influence the members to decide the project creation process and findings learned from it to be used in the next project, shutting down of the project which will motivate project member to finalize any documents required and raise any queries that need solving (Hwang, 2013). Leadership powers in project management I would use expert power; managers often use this power by important skill sets found in the authority and experience and its efficient in preventing a repeat of mistakes done in the past. Expert power is an instrumental technique to the members of the project team since they will consider their superiors have an outstanding knowledge and skill sets that they can learn from and use it to pursue their activities in the project (Young, 2013).This increases collaboration and communication among the team members handling a particular task since they are under the instruction of an expert power and all are learning the same information which improves confidence among the members in solving the specific task. The use of Expert power is crucial to the success of the project; its solely defined by the knowledge and the ability of the manager to administer instructions. I would use this power in ensuring the success of the project by properly managing the activities leading to the completion of the project. Through this power identifying and handling of risk and potential threats will be efficient on the knowledge and experience gained thus making expert power a suitable power in my project management. Project Management Approach analysis The approaches chosen above were explicitly discussed and thought to be compelling for the purpose of achieving better results or goals set in project management. A good project manager must have efficient qualities that will be used in determining key members who will be crucial to the project completion (Kernel, 2013). These key members instructed through the use of Expert power and democratic leadership style. The two styles are a perfect combination of project management. They are entirely focused on project success based on the standard rules the project members use in their allocated activities after the various schedules and plans stipulated which will find out the proper use of the project management techniques and tools for identification of resources and project environment (Burke, 2013). Steps for solving project management problems Define the Problem-The first solution for challenges affecting the project is to identify them and determine them accordingly, an example is where the project manager receives a complaint from a client regarding the particular issue either internally or externally, the manager should be in a place to define the problem (Snyder, 2013). Determine the Causes, the next step is to find the cause of the problem, the manager should dig deeper into the root of the problem without any discrimination or biases of the cause Generate Ideas-the managers should now generate ideas that are possible solutions to the problem through brainstorming or mind mapping; ideas could also generate from members of the project team (Hwang, 2013). Select the Best Solution-the ideas are now analysed through evaluation of how each idea can solve the particular challenge by simple matrix method, the best among the results of the assessment is used (Young, 2013). Implementing the solution-After solution are applied to where the problem originated, the manager should give the solution to work for a specified period, and confirmation is done (Young, 2013). Conclusion Project managers are a crucial part of the phases of project creation, and its completion Moreover members of a project team should be of particular standard and character that will oversee the completion of the project. A good project is the consequence of proper project management should follow the crucial steps detailed in this paper. Reference Martindale, N (2011). Leadership styles: How to handle the different personas. Strategic Communication Management, 15(8), 3235. Turner, J. R., Mller, R. (2005, June). The project manager's leadership style as a success factor on projects: A literature review. Project Management Institute. Snyder, C. (2013).A project manager's book of forms: A companion to the PMBOK guide, fifth edition. Hoboken, N.J: Wiley. Young, T. L. (2013).Successful project management. Burke, R. (2013). Project management: planning and control techniques. New Jersey, US Hwang, B. G., Ng, W. J. (2013). Project management knowledge and skills for green construction: Overcoming challenges.International Journal of Project Management,31(2), 272-284. Kerzner, H. R. (2013).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons.