BUS530 Project Management

DON'T USE HOSPITAL

Use the Information in Bold, Please!!

Use Research an article or a report describing a project that interests you.

For this assignment, students should review an article written on an already completed, or an on-going project.

In your paper, you discussed a plan to build a hospital in a developing country, which does not meet the requirements of this assignment.

This weeks assignment requires you to apply some of the theories you have learned so far and apply them to a real-world scenario. Successful completion of this activity needs to demonstrate that you can go beyond defining project management-related terms and map them to a given concept. You will research a project of your choice and identify some of the terms and concepts in that project.

Instructions: Research an article or a report describing a project that interests you. Provide an overview of the project. Explain various components of the project, including: What qualifies your chosen project as a project Project objective(s) Project managers role Project sponsors role Project team members role Project scope Project risk/uncertainty Project outcome(s) Lessons learned

Requirements: Submit a Word document in APA format. It should be no more than 4 pages, excluding the title and reference pages. Reference your article including the URL and at least two other sources

1. What is the role of a project sponsor? The project manager, operational leads, and the project sponsor collaborate closely. The project sponsor supplies the initiative with resources, assistance, and removing obstacles. A project sponsor at my company would be an executive leadership figure with access to resources and decision-making power. The project sponsor is ultimately responsible for the project's accomplishment. 2. Who decides all the tasks that must be completed for a given project? It is unreasonable to expect the project manager to be aware of the tasks required for every project they work on. The project manager, stakeholders, the project sponsor, and the team would collaborate to develop the lessons. The project manager assigns tasks after they have been chosen and ensures they complete on time.

3. How does an organization choose one project over another? There is an application process to use the Project Management Office for anything besides balanced scorecard activities in my organization. An SBAR stating the necessity for the endeavor is presented first in the request. If authorized by executive leadership, an initial business case is produced and submitted to the PMO. If the PMO decides the project needs full-time PMO assistance, it will classify it and give it a score before referring it back to the ELT for authorization, holding, or termination. Though unfamiliar with all the requirements, cost and value-added will play a role in ELT's decision to approve or reject the project.

4. How is the budget finalized for a given project? Budgets will differ based on the resources required, administrative expenses, labor costs, material costs, and the project's duration. Stakeholders allocate a particular sum of money for a project, which must examine to ensure it is appropriate. It would be up to the project sponsor to approve the funds.

5. What happens if someone wants to add one extra feature to the project deliverable halfway through? Halfway through a project, adding a new feature to the deliverable might result in more effort, rework, costs, and time. The new feature can need more resources or supplies and adjustments to other project components. Risks may need re-evaluating, and the project's priorities may need to change.

6. Can a construction project manager run a healthcare-related project successfully? How? Project managers can manage projects in various locations and project kinds, even though they may have a preferred industry. Rather than performing the work themselves, project managers oversee the entire project. People who have explicitly chosen to complete the job make up the project team.

7. Halfway through the project execution, you learn that a project is running behind schedule. As a project manager, what would you do? When a project is running behind schedule, the project manager has a few choices, including approving overtime, adding more resources, changing the timetable, or extending the deadline. The selection may also influence by the stakeholder's needs, the available resources, the stakeholder's perception of the importance of the deadline, and the budget.

8. Longer the project duration, the higher the chances of risk. What provisions would you include in your risk management plan? 1)Need to be more knowledgeable on this subject. 2)Advise transferring as much risk as is feasible through the risk management plan. 9. Upon project completion, you learned that the client was unhappy with the final deliverables. What can you do now? I'm still determining if this circumstance would handle differently than in any other industry. I would first listen to the complaints and worries and repeat them to ensure they were understood. Second, seek clarification from all parties and cooperate to find a solution with the project sponsor and other stakeholders.

10. When should a project be marked as complete? All projects with closure have tasks that are finished. The project can be declared complete in my company: 1)In a final project survey, the sponsor acknowledges the project deliverables. 2)We are monitoring for any retraining. 3)Support requirements are all included in the project closing process. 4)Examining performance evaluations 5)an analysis of the closeout report and lessons learned.

Part A:

1. Organizational Structure Strengths and Weaknesses: One of the main strengths of our organization's structure is that it is very flat (Pinto, 2019). This means that there are not many levels of management so that decisions can be made quickly. This may be a strength, but it can also be a weakness since it can confuse without an apparent leader (Brandenburger, 2019).
2. Development of Maturity: In project management (Formal, informal), Whenever it comes to the administration of projects, our company takes a fairly laid-back approach. There is no formal process for initiating or managing projects (Pinto, 2019). This can be both a strength and a weakness. On the one hand, it allows for a lot of creativity and flexibility. On the other hand, it can lead to projects being poorly managed and not completed on time (Brandenburger, 2019).
3. Project Initiating Process: Our organization has no formal process for initiating projects (Pinto, 2019). Anyone can come up with an idea and start working on it. This can be both a strength and a weakness. On the one hand, it allows for a lot of creativity and flexibility (Editorial Team, 2021). On the other hand, it can lead to projects being poorly managed and not completed on time.
4. Project-Related Committees: (Project review, project change, etc.) There are no project-related committees in our organization (Pinto, 2019). This can be both a strength and a weakness. On the one hand, it allows for much creativity and flexibility (Harvard Business Publishing Education, n.d.). On the other hand, it can lead to projects being poorly managed and not completed on time.
5. PMO Organization does not have a PMO (Fontein, 2023). This can be both a strength and a weakness. On the one hand, it allows for a lot of creativity and flexibility. On the other hand, it can lead to projects being poorly managed and not completed on time (Pinto, 2019).

Part B:

My opinion is that the answer to this issue relies on the particular organization being discussed as well as the objectives that it seeks to accomplish:

1. It is dependent on the particular organization and the aims that it seeks to achieve (Pinto, 2019). Some organizations might prefer a more formalized project management process, while others prefer a more informal one (Harvard Business Publishing Education, n.d.). It all depends on the specific organization and what its goals are.
2. For example, if an organization aims to be as creative and flexible as possible, a more informalized project management process might be better (Harvard Business Publishing Education, n.d.). On the other hand, if an organization's goal is to complete projects on time and within budget, then a more formalized project management process might be better (Pinto, 2019).

Part A:

1. Organizational Structure: Most organizations have a hierarchical structure, with a transparent chain of command and several levels of management (Pinto, 2019). This can be a strength because it allows for clear lines of communication and division of labor (Harvard Business Publishing Education, n.d.). However, it can also be a weakness because it can lead to bureaucracy and slow decision-making.
2. Project Management: maturity refers to the degree to which an organization has formalized its project management processes (Galante, 2022). Some organizations are very mature, with formal processes from initiation to closure. Other organizations are less mature, with more informal processes. This can be a strength because it allows for more creativity and flexibility. However, it can also be a weakness because it can lead to poorly managed projects not being completed on time (Harvard Business Publishing Education, n.d.).
3. Project-Initiating Process: this is the process by which new projects are started. This can be a formal process in which new projects are proposed and approved by a project management office (PMO) or a steering committee (Ray, 2023). Alternatively, it can be an informal process in which anyone can develop an idea for a new project and start working on it. This can be a strength because it allows for more creativity and flexibility (Pinto, 2019). However, it can also be a weakness because it can lead to poorly managed projects not being completed on time.
4. Project-Related Committees: Project-related committees are groups of people who meet to discuss and make decisions about specific projects (Laukka et al., 2021). These committees can be formal, such as a project review committee, or informal, such as a project change committee. They can be a strength because they bring together people with different perspectives to make project decisions (Wayback Machine, n.d.). However, they can also be a weakness because they can lead to delays in decision-making.
5. PMO is Project Management Office. It is a group of people responsible for project management (Wayback Machine, n.d.). PMOs can be a strength because they provide a central point of contact for project management (Fontein, 2023). However, they can also be a weakness because they can be bureaucratic and slow to make decisions.

Part B:

1. Organizational Goals: These are what an organization strives to achieve. They can be short-term, such as raising earnings in the next quarterly, or long-term, such as being the leading company in a specific business sector (Wayback Machine, n.d.). Organizations typically have several different goals, which can conflict with each other. For example, an organization might have a goal of increasing profits, but at the same time, it might also have a goal of reducing costs (Lutkevich et al., 2022).
2. The Type of Project Management Process: an organization should be aligned with its goals. For example, if an organization aims to be as creative and flexible as possible, a more informalized project management process might be better (Iyer, 2022). On the other hand, if an organization's goal is to complete projects on time and within budget, then a more formalized project management process might be better (Keup, 2022)