Prince 2 Project Management Methodology and the Most Important PMBOK Knowledge Areas - Case Study Example

RОJЕСT МАNАGЕMЕNT Name Course Instructor Institution Location Date Table of Contents Table of Contents 1 Introduction 2 Part 1: Prince 2 Project Management methodology. 3 Uses of Prince 2 6 Part 2 Five most important PMBOK knowledge areas 9 Project time management 9 Project cost management 9 Human resource management 10 Quality management 10 Risk management 10 Part 3 Engineering Management Project 11 Initiating the project 11 Project planning 13 Project execution 14 Project control and monitoring 15 Closing the project 15 Conclusion 16 References 16 Рrоjесt Маnаgеmеnt Introduction Management of the project is one of the key things engineers (project managers) are faced with in order to achieve the project objectives. Therefore, project management refers to the process and activities that are done for the purpose of success of the project and these include planning, organization of resources, motivation, and resources control, following steps and the protocols involved so as to attain the specific goals of the project. The project refers to any activity that has the time, and the cost of doing it for example construction of building involves cost and duration for it construction. Project management requires the application of various technical skills and methodologies, and these are always applied in day to day running of the project. These methods include PRINCE 2, PMBOK, etc. In project management work are done through scheduling to put resources to the right use at a particular time by looking at the most critical parts of the project. In this paper, the overview of the success failures and the lessons learnt are examined and concluded. Part 1: Prince 2 Project Management methodology. Prince 2 methodologies looks the higher level of the project of project management, controlling and organizing it, but it does look at the low level of activities like scheduling. Price 2 means Project in a controllable Environment. It is a methodology the can also be used while referring to training and accrediting the authorized participants of its methodology and must go through accreditation qualification to get the confirmation. Prince 2 methodologies are not proprietary, and it is extensively applied in over 150 countries worldwide, and it is growing every day the method is noted to be the top in the management of the project and more than 20000 companies benefiting from the most reliable approach. It is in wide application because it is generic, and its application applies to any project irrespective of the complexity, kind, company, location, etc. Prince 2 is made if a collection of rules, theme, lifecycle process and the guidance on the way to match a method of the environment of the project. It gives the model of the process to manage a project and comprises of a number of activities that need to guide, control, deliver the project in the end. However amidst high level of use Prince 2 have a number of merits that most companies are benefiting from, and these among others are: Its application does not select a project for it to be used in meaning that it is a neutral method. The language and the techniques used are prevalent therefore; Prince 2 is the method that is found in every place it is being used. Prince 2 can be put into the organization particular models with ease. The outcomes of the methodology ensure that the project is handed over with the high quality and with satisfaction, meeting all the standard specifications. The method uses management in an extraordinary way and giving out the high level of efficiency to the top management level and in time. Prince 2 focuses on the project feasibility and continuity while ensuring that all the parameters needed for the project success are met. Prince 2 being the public method and gives the most suitable practicing guideline on the way to manage the project, it has the following stages of the principals: Project start-up; it takes place once and forms and do a business evaluation. In this principal, the business is monitored from the beginning up to the time it can make the profit. All possible ways are applied ion this principal to ensure business success. Project direction; it is an organized structure of the organization that is needed in all the project lifecycle and includes the board and management, passing information through stages and facilitating the continuation of all the necessary requirements for project success. Project initiation; it is the stage that looks out for the way of managing the project, project support documents, and it forms the agreement and the reference terms needed for the entire project. The initiative to find the possible documents that can enable the project reaches an agreed level requires that all stakeholders join hand and ideas when it comes to decision-making and implementations. Project planning; in planning for the project the possible ways of delivering the required plans for the project, viability is given continuously in the entire project lifecycle. Planning ensures persistent and smooth running of the project to achieve its intended goals and objective. It also provides a better approach to implementation of policies leading to finishing a project with the benefits. Project control; in managing a project, the documents that are helpful in running everyday activities including the variable control and assurance on quality are worked on during project control. Control of the project is an iteration process i.e. it keeps on, moving with improvements. Project monitoring; in control, involves communications, and the results of communication are used to make policies that are later acted on. Communications feedback is worked by the authority of the board controlling the project in the way they require. Project closure; after all the activities in the project lifecycle are completed; the project is closed and handed over to the client. The project being an activity that have during and cost involve in its execution, at the time of its closure there is an official way of handing it that include signing the document showing that it is successful, and the client/ customer is contented with it and the way it was done. At the closure/ commissioning of the project different stakeholders come together for a face to face gathering and discuss the way forward for the future project, where improvement is needed, etc. Uses of Prince 2 Prince 2 method have been used to tackle a number of things that are faced by different companies and organizations Analysis by stakeholders involves in the business The cases involve in the business cannot just be undertaken as any activity that need to done to provide an opportunity to analyse the requirement of the project to determine the expected contributions of the project towards the set targets. The business case is applied by the management to get the devotion and approval needed for to invest in to change the company status. The managers running the business come up with the new ideas to improve the performance of the company, and they always own those ideas. At this stage, the managers are thinking both day and night to find the better alternative to ensure business success and profitability involve in it. Analysis of the business by stakeholders help them to determine how desirable their business is and it performance in relation to customer satisfactions Managers of the project are held responsible to give the necessary information to the company board so that they can use these information to analysis through evaluation their business in relation to sociality, economic and the technical viability of the business operation. For this decision to be effectively made by the board, business managers need to present objective of the business by in terms of finance and investment objectives. In general, the need, consumers, benefits assurance with reality and realization; the cost must be clearly shown by the business in the analysis. Organizing the business After the establishment of the company and its owners responsible for delivering services, a formal process of creating the roles and responsibility of every manager invoke in the business is needed and this is beneficial in creating involvement and creativity among the managers. According to Prince 2, a manager refers to the person who has the responsibility and authority for the daily operation of a business so that all the necessary service delivery can be achieved daily. The manager is responsible for the success and failure of the business and the boards of directors are responsible for giving the authorities to the managers. The aim of Prince 2 is to provide solution such a situation because the board is responsible for the ownership of the project as this can help to find that authority exist to facilitate commitment to put resources into the business for its success. Prince 2 is used to manage risk For the business to be successful both the managers and the boards of directors need to put all their technical knowledge to manage risk and out it into the minimum. The business success is entirely reliance on the level of risks involve and the more the risk, the more the business is prone to failure and the less the risk, the more the business success. For instance when the principle supplier fails to supply the necessary items, the business can suffer the risk of high costs, time wastage, and reduction in the quality and service delivery. In such a situation, the supplier may need to be replaced, or the need for more providers will be needed to reduce the level of loopholes. The managers of the business need to estimate the risk likely to be incurred by the business in the near future and ascertain the possible ways of mitigating them before that time comes. Prince 2 is used in managing quality For the business to achieve the quality objectives, proper planning has to be made to find the most appropriate approach to maximize quality. Others ways of enhancing quality are the quality assurance to the customers, and control of the business process. Controlling the business process involve assessments of the possible ways of reducing the risk likely to be met by the business, the quantity of work and determine the duration in which this can be done and work on the anticipated time to avoid time wastages and associated cost. Part 2 Five most important PMBOK knowledge areas Project time management Proper management of time in the project helps to mitigate prolonging time to accomplish the project and cost overrun. In projects management time is the most important factor put in consideration because it enables the project managers to achieve the success of the project through understanding the critical path techniques and the specifications involved including the associated software such Microsoft project and many more (Charvat 2003).  The essential understanding the effect of delays and its occurrence critical path project scheduling, merits and demerits of several schedule and ways of delays, etc. Discovery of delays sources enable the project manager to come up with an appropriate way of reducing time wastages, for example, staff training to familiarize with steps set and the likely areas for delays to come up. Project cost management In the process of project execution management of the cost involve controlling the cash flow to balance the rate of inflow and outflow so that excess in the cash outflow is kept to a minimum. Cost control helps in assessing the techniques to be used in analysing the data and the information in the bills of quantities (BoQ) (Charvat 2003).  In doing so, it helps in maintaining the project cost within the estimated total cost of the project since unnecessary expenses can be reduced during data analysis basing on BoQ. Human resource management In the management of workers during the project execution, the team needs to be put as the priority in order to achieve the project objective. One of the ways of managing employees in the workplace is through involving them in decision-making because it makes them feel that they are part of the project. Workers feel motivated and work with a positive attitude and the end results will be good output and of good quality. In this way, the work shall be completed in time hence saving time and cost. Quality management Proper management of quality helps in avoiding quality failure cost; for example, failure to meet the quality specification leads to rework that put in high costs due to rework. However, quality management helps the managers to improve their reputation and the client and the entire community will recommend them for the good work. It increases their efficiency of management. Quality management is done through the total quality management, and it involves managers making decisions and getting policies to guide subordinates. It can also be implemented by the continuous process improvement that is done by recognition of success towards the goal of total quality. Risk management Construction is associated with various risks such as accidents, exposure to toxic substances, etc. Managing these risks helps to maintain a healthy workforce and avoid delays. Risk management can be done by observing the occupational health and safety measures on site. Risk management involves the use of safety gears, sensitizing workers on the necessary safety requirements for the workplace. Workers should also be insured against occupational risks. Risk management in the project saves the managers from incurring the losses due to accident and by doing so; the management team has the benefit of saving time and cost. Part 3 Engineering Management Project Project management refers to the ways of ensuring the success of the project from the initiation to the closure of the project. Project management process includes planning for the project; project organization, motivation (of workers), resources control, steps and protocols that are needed to ensure achievement of the goals in everyday tasks. Project management activities are very essential in all phases of the project (these stages include, project initiation, planning, execution, and project closure) Management of the project involves cost control, maintenance of the work quantity, quality control, time management, etc. In managing a project, for example, a road project care should always be taken when it comes to variation in the work say due to change in the terms of the contract, weather conditions, the nature of work, etc. The engineering project chosen is the road project. Initiating the project The phase of project initiation involves the analysis of the quotation request by contractor to the client, estimate the project scope, and clearly define all the necessary information required for the project, for example, structure of work breakdown, project scheduling, construction planning, etc. which are necessary for the project success. During initiation of the project, the scope of work is estimated by carrying topographical survey to determine the quantity of cuts and fills that need to be done. Where the road passes through a hilly terrain the volume of cuts and fill shall be high because of blasting the rocks to give way and fill the deep down slope along the hills. Using the plans and sections are drawn, the quantity of work can be estimated starting with the amount of materials needed, etc. Scheduling of the work involves looking at the most critical part of the project and put much care on it. Such activities need to be completed before the start of another. In planning for construction, the equipment for use is put into consideration and their cost of operation and maintenance, the materials source. Proper feasibility study is necessary that is done to determine the appropriate materials sources, the importance of the project to the community and gathering the information needed for the project For example, during the construction of the road in the oil region to facilitate transportation of oil products there was need assessment for the road benefits in the oil region. It is will help the government and the community around in terms improved transport means. Construction planning and scheduling of work helps to control the work process and the costs of executing the project at different stages. Failure to implement better planning for construction can result in high value because the entire work process shall be associated with a magnificent cost. For example, there was fault during procurement where the contract was not awarded in accordance procurement procedures and the contract was cancelled leading to the financial loss of the movement (client) Initiating the project that show the client high cost of the project can make the client fear or give the contract to another cheaper contractor. Lesson learned was that, the procurement laws must be adhered during the procurement process. Project planning The planning stage of the project the scope, time schedule, the materials and equipment for use, financial analysis, etc. need to be refined For instance resource allocation to a particular task, and the necessary finance and making commitment to accomplish the task need to be done in this stage. The procedures for doing the work were analysed basing on the specifications in the contract documents (Smith 2002).  There was the monthly routine maintenance of the equipment for avoiding delay due to plant breakdown. It saved a lot of time because there was no time wastage leading timely delivery of the project to the client. The financial analysis helped in maintaining the project cost within the signed contract sum. Cash flow analysis was done, and it helped in maintaining sufficient cash to run the project. However, there was a double payment made by the resident engineer to the contractor on the drainage structure, and yet the payment had been made in the previous month leading financial loss (Wysocki 2004).  Financial loss due to double gave a lesson to the resident engineer because he did not fully understand everything specified in the financial document since he fails to produce evidence of the payment. Project execution When planning is done, the next step is implementation of the plan on the ground and in this stage the breakdown in work is of great importance because doing work in shift basing on the most critical part and doing the least essential part later. Where the quality is guaranteed in the process of execution, the client, and the well wishers always give the right recommendations to the contractor and its entire team. The quality assurance was done through; the contractor obtaining material from the certified supplier and being issued with certified of quality from the supplier (Lester 2014).  There was proper monitoring of construction process especially concrete, earthworks, surfacing, etc. All the necessary tests were done and made to match the specifications of the project. Teamwork was the major priority in the project execution where there was the proper motivation of workers, good communications from top management to the workers through their representatives (Project Management Institute 2013).  In the concrete work, there was no failure at all but there was a failure in earthwork where a box culvert settled differentially and when riding quality was tested it fails and a contract did the work again. Proper project execution can lead to good reputations of the company and the engineers involved in the construction of the project mainly concrete and others including earthwork that had a little error. The work was done satisfactorily, and it expanded the services of the company since the client recommended them for good work and other work to come. Rework on the box culvert imposed constraints on the materials and finance because more of it was used to redo the same works (Hedeman et al. 2010).  In a proper execution of the work, especially concrete work enabled the contractor and its team to find other ways of further improving their efficiency especially where the work was done satisfactorily. Where there was rework mainly due to differential settlement of the box culvert created an experience on how to handle work in the loose soil. Project control and monitoring Under this, the sources of problems were carefully identified and this case time determination of the work quantity executed on the ground. Site meeting were organized on a monthly basis to discuss the work process, and it was in line with the time scheduling made (Hedeman et al. 2010).  A case where there was needs to change design due to the loose nature of the soil, the client delayed to respond to the consultant for the design change, and there was time wastage due to client delay. The time delay was catered for by putting more resources (labour, plant, etc.) to cover up the time due wasted due to delay by the client. It is called resource loading. Closing the project Project closure was done after completing and settling every contract that were necessary for the project. All activities were finished and closed waiting for the project commissioning. Conclusion Project management has been the key aspect of achieving the project objective so as to meet the client's needs and the need of the final users of the project. The methodology involved in the management of a project has a great impact on the project as well as its utilization by the people such as the road. In the analysis of the engineering management project it was found that the resident engineers have the great roles in the success of the project because a case where the box culvert was put in the loose soil he had a right decision to make the contractor repeat the work. Also in making the double payment, it was a loss to the client and the resident engineer should be having sound interpretation and understanding of the contract documents. Good management of the project can lead to more project and success of the project managers and should be the key element to be put in any project. References Charvat, J. (2003). Project management methodologies: selecting, implementing, and supporting methodologies and processes for projects. Hoboken, NJ, Wiley. Hedeman, B., Van Heemst, G. V., & Fredriksz, H. (2010). Project Management Based on PRINCE2 2009 Edition. Zaltbommel, Van Haren Pub. http://public.eblib.com/choice/publicfullrecord.aspx?p=592808. Project Management Institute (PMI). (2013). Guide to the project management body of knowledge: pmbok guide. [S.l.], Project Management Inst. Smith, N. J. (2002). Engineering Project Management. Oxford, Blackwell Pub. Lester, A. (2014). Project management, planning, and control: managing engineering, construction, and manufacturing projects to PMI, APM, and BSI standards. http://site.ebrary.com/id/10764912. Wysocki, R. (2004). Project Management Process Improvement. Norwood, Artech House. http://public.eblib.com/choice/publicfullrecord.aspx?p=227679. Read More