Project Management for Business Essay Example | Topics and Well Written Essays - 3000 words

Project Management for Business - Essay Example Measures need to be enacted to evaluate the achievement and progress of the objectives. Project managers are therefore tasked to liaise with all the stakeholders to set up objectives which are commonly agreed on. Products in which a project engages are varied and can be classified as new, processes or services. Any kind of product that is dealt with need to be developed to meet the company objectives and also to add value to the organization. Articulation of the project benefits is vital at the initiation. This will provide a clear roadmap to the success and benefits of the project. Communication is vital element of the project. Clear information need to be relayed to those who are likely to be affected by the project. The end users should also be made to comprehend the potential benefits that are likely to accrue from the introduction of a given product. Proper communication mechanisms will help to battle the possible human reluctance to change in cases of new or totally improved products (KLOPPENBORG, 1900, np). Resources that are needed to implement the objectives should be identified and put in place to ensure smooth running of the project. These are in terms of time, technical, financial as well as human resources. People are the last major element that is required for the success of a project. They are the stakeholders and people who have other roles and vested interest which are geared toward the success of the project (KLOPPENBORG, 1900, np). The most crucial people in a project are the sponsors, the project manager, the team members and the potential customers. The principles of project management revolve around five pillars: initiation, planning, execution, monitoring and control then lastly closure. They are like the processes through which a project has to pass, right from its inception to winding up. The initiating process involves the procedures which are put in place in order to jumpstart a project. At this stage, new projects may require to