BSMAN3005 Project Management Assignment Questions Answers
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BSMAN3005 Project Management
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Different areas of PMBOK are majorly impacted by the project management life cycle and it is needed to be considered in every vital aspect of a project work (Sepasgozar etc. 2019). The project management life cycle is mainly broken down into four vital phases of initiation, planning, execution and closure. All of these phases make up the distinct path, which takes the project from the initiation to the end. In the initiation phase, the project manager requires to identify a business need, opportunity or issue and then brainstorm methods that the team could fulfill the need and resolve the issue. As a result, there is a high chance that the project would be successful, under every circumstance.
The second phase is planning that is being done when the project is approved to move forward, based on the distinct business case and also moving as per requirement. The third phase is execution and the project aspects would be executed eventually and finally closure phase is required for closing or completing the project in a successful manner (Orgut et al., 2020). All of these above mentioned phases are needed to be considered properly with an implementation of PMBOK areas and the project life cycle is impacted majorly.
PMBOK or Project Management Body of Knowledge is the set of standardized terminology as well as guideline for the project management published as well as upgraded by the PMI (Hermano & Martín-Cruz, 2019). There are ten distinct areas of PMBOK, which include project integration, scope, schedule, cost, quality, resources, communication, risk, procurement and project stakeholders’ management. All of these above mentioned knowledge areas are considered as the most distinct and noteworthy aspects for project management life cycle to ensure that there would be a lesser chance of project failure accordingly.
The knowledge areas of PMBOK that would be impacted by the project management life cycle include project risk management, schedule management, project resource management, project stakeholder management as well as project communications management (Rosenberger & Tick, 2018). As a result, the probable risks of the project would be eradicated with a proper and effective communication within the respective stakeholders. Moreover, the planning and execution of the project work would be done, after incorporation of appropriate resources and not including new and effective other changes, apart from the initial requirements. Furthermore, the project schedule is also needed to be considered, so that the project does not exceed schedule, under any circumstance.
An alignment is needed to be ensured within the life cycle of a specific project and the respective deployment of PMBOK in project works. This type of alignment is possible only when the project would be completed within deadline and there would be exact usage of cost and resources in the project. A suitable and detailed plan is needed to be made for the project to be completed, so that communication is effective and all types of risks are avoided on a priority basis (Mable & Sunken, 2017). As a result, all project activities as well as objectives are needed to be aligned with the strategic vision of the organization.
The project managers would require having an extensive knowledge of the process of project alignment and would subsequently assist the top level management to properly align the strategic goals with all projects at hand. A shared vision of success is needed to be considered for making the project a successful one and also ensuring that project life cycle is getting completed accordingly. The project team as well as all representative members of the company are operating at the same time for better alignment, from the day it gets initiated (Galle, 2018). Such alignment could even improve the success rates of a project and even the core capability of addressing customer needs and expectations and hence alignment between PMBOK areas and project life cycle is established successfully.