The paper "Project Management: How to Plan and Deliver a Successful Project" is an outstanding example of an essay on management. The aim of this essay is to discuss the weather or not project managers’ decisions should be based on value. Considering two project knowledge areas of risk management and stakeholder management, the essay examines several cases of major construction projects that had challenges in managing risks and stakeholders. While exploring literature on project management, risk and stakeholder management involves making breathtaking decisions that will affect project outcomes. The project manager is tasked with bringing value to the project by managing both risks and interests of the stakeholders to ensure project success.
As seen in megaprojects around the world, some project management failures are associated with the failure to engage stakeholders or identify and respond to risks and uncertainties. This essay will show that the aim of the project manager is to bring value to the project by assuming roles and responsibilities in project design, planning, implementation, and closure. Project management issues Risk management Haughey (2013) defines a project manager as someone charged with the overall responsibility of successfully controlling, monitoring, executing, initiating, design, and planning and closure of a project. Among the duties of the project manager, recognizing risk as having a direct impact on the probability of project success is critical.
Throughout the project lifetime, risks must be informally and formally measured. In the best interests of project objectives, responding, analyzing, and identifying the risk factors is key throughout the project's lifetime (Billingham, 2008). Rather than being reactive, control of possible future events as proper risk management is proactive. This reduces not only the magnitude of risk impact but also the likelihood of an event occurring. For example, reducing the probability of occurrence through mitigation measures helps to reduce the anticipated monetary value of a risk event.
Any variation affects the project’ s outcome if the stipulated value of scope, cost, and time and not observed.
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