I have learned that knowledge in project management is highly essential, as its application is universal. This implies that project management skills are useful in all aspects of life, both professional and personal. Both personal projects for example room renovation, or a professional project such as building construction or developing a product put into practice project management. I have learned that the process of managing a project requires identification of the requirements, while addressing the needs or concerns as well as expectations of all the stakeholders of the project. This enables the planning and execution of the project. From this class, I have learned that communication is a vital component of the project management process. Communication with all relevant individuals, who are connected to the project, is important to ensure a successful project. The project management knowledge gained from this course is valuable in the achievement of organizational objectives and strategic plans (Project Management Institute, 2015).
This project management class has made me understand that the successful completion of a project relies on the organization, its mission, vision, regulations, policies, leadership, and work culture/environment. Success also relies on the project management tools, processes, and techniques application. To achieve the set project objectives, a project may be broken down into smaller modules or phases, which functions as a means of easing the management, planning, and control processes. Moreover, project phases give room to changes within the project. . For many organizations, increased flexibility to change strategies midway is a great gain from project management. Any solutions or discoveries during any part of the project lifecycle can take effect at any point of the project. Therefore, project management plays a critical role in managing change. As a project manager, the knowledge and skills enable risk control and management as well as the management of project integration.
For any project, knowledge on project management matters is generated, which acts as an essential asset for the organization. The knowledge gained is useful for other projects as well as in business innovation. Even when projects fail, not all is lost. The lessons learnt from such failures fuel business innovation and enable product or service quality improvement. New developments in project management are driven by the changes in global markets and technology innovation. These lead to project managers focusing on either achieving the organization’s strategic plans, achieving routine goals or improving project effectiveness to ensure successful projects (Meredith & Mantel, 2012). The knowledge on project management according to the Project Management Institute aims to foster growth and professionalism while maintaining the three prime objectives of any project, which are meeting the specified scope while maintaining the project schedule and estimated project cost.
References:
Meredith, J. R., & Mantel, S. J. (2012). Project management: A managerial approach. Hoboken, NJ: Wiley.
Project Management Institute. (2015). A guide to the project management body of knowledge: PMBOK® guide: fifth edition.
