Project Management for a New Company - Research Paper Example

Project Management for a New Company Project management is a keenly designed and organized attempt to complete the objectives of a company. This context examines a real Company expansion project management where a field has to be bought, a new structure constructed before mechanisms, and materials are bought. Therefore, the characteristics of project management for this project include the fact that the company must be able to control marketing behaviors, manage work procedures in multi location surroundings and control multiple teams’ works (Ireland 110).

Therefore, such goals must be achieved in this company that has proper management team full of experts. The type of project management I am studying is about a company or organization management, which manages the four basic elements effectively. These include: Resources – people, equipment, material Time – dependencies, duties and significant path Money – profits, costs, unforeseen events (Ireland 110) Scope – requirements, project size, goals The function of the project manager is to control and organize how the project is to be implemented (Ireland 110).

He is responsible for arranging the project team and submitting responsibilities to them. Planning and Scheduling of Project Projects involving large companies and organizations are always large and complex that must employ the project work breakdown structure. This structure elaborates on how each task is to be undertaken by different departments and team members. The structure is prepared depending on the complexity of the project where it is broken down into simpler parts. For instance, the project can be divided into task one and two (Ireland 110).

Each of the two tasks is subdivided into subtasks, which are also subdivided until the whole structure becomes simpler. That is the best master plan of the project before it is implemented. Huge projects must involve networking particularly the local area network where the team members can work on various parts of their projects at separate places under the same network. The kind of computer software used to maintain and retain the project’s objectives is the Clarizen software which eliminates challenges of projects timelines for project end.

The software also ensures devices are okay and controls elements such as reports and dashboards (Ireland 110). Cost Estimation The estimation of cost is undertaken by the project’s committee, which comprises of team members. Cost estimations begin by preparing the budget for small subtasks which builds up to the main task. Materials and mechanism costs are acquired and included as well as the main equipments in the project (Ireland 110). For instance, a project like establishment of a new company involves costs like field cost, material costs, labor costs and design costs among others.

Other costs are those of the devices to be used in the company. A project like opening a company’s branch may have cost estimate of about $100,000 (Ireland 110). Risk management Risk management entails identification of some of the risks that might be involved and coming up with the best way to eliminate them. For instance, one of the main risks that might be involved include purchasing a wrong field by being given a fake title deed. This is a huge risk because it may lead to massive loss once the project is implemented (Ireland 110).

Other risks include loss of materials, improper design implementation, dangers like death involved during construction process and obstacles like rising of material costs above the anticipated costs among other risks. Such risks can be dealt with through keen observation and follow up activities in every step undertaken. This step is followed by the project control where the project performance is measured in order for the project team to understand how decision-making process led to success or failure in the precedent and how such control can lead to improvement of the project (Ireland 110).

Therefore, in order for the real company project to come out successful, the above points must be taken into consideration and implemented effectively. Works Cite|d Lewis R. Ireland. Project Management. New York: McGraw-Hill Professional, 2006. ISBN 0- 07-147160-X. p.110.