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As per PMBOK - "The whole point of undertaking a project is to achieve or establish something new, to venture, to take chances, to risk. Risk may have positive effects or negative effects on the project “Schedule” and/or “Cost”. Positive risks are Opportunities and negative risks are losses or threats; remember both risks are uncertain “percentage of occurrence less than 80%”. Risk Management purpose is to manage (Plan and implement) these uncertainties.
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With uncertainty comes opportunity. But if a project manager is consumed with managing the risks, there is little time to manage the opportunities. Good risk management is not about fear of failure; it is about removing barriers to success. This is when opportunity management emerges.
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Over the years the success rate of traditional project management methods applied to software development projects has been underwhelming. These traditional methods are based on a retrospective approach which measures variance against plan rather than providing a performance–forecast that can be used to guide projects in a chaotic environment.
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As per PMBOK - "The whole point of undertaking a project is to achieve or establish something new, to venture, to take chances, to risk. Risk may have positive effects or negative effects on the project “Schedule” and/or “Cost”. Positive risks are Opportunities and negative risks are losses or threats; remember both risks are uncertain “percentage of occurrence less than 80%”. Risk Management purpose is to manage (Plan and implement) these uncertainties.
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With uncertainty comes opportunity. But if a project manager is consumed with managing the risks, there is little time to manage the opportunities. Good risk management is not about fear of failure; it is about removing barriers to success. This is when opportunity management emerges.
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- This processes group includes processes to organize, manage and lead a project team. It also assigns roles and responsibilities for completing project. Besides, it does resource leveling also. - IT is very important to understand roles and responsibilities of the team and links to the team and should able to communicate that to all affected people. Few important roles associated with Project are: Sponsor, Management Team, executive/leadership team, Project Team, Project Manager, functional manager.
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It is important to be aware of the following:Mission statementVision statementGoals These will allow you to manage and strategize to follow the company mission and vision and meet the goals. Stakeholders – any individual or group that has a stake in the outcome of the company.Some examples:CustomersManagersEmployeesStockholdersCommunityCompetitors WBS=Work Breakdown StructureIt is a deliverable oriented decomposition of a project into smaller components.It is similar to an organizational chart. RAM=Responsibility Assignment MatrixThis is a chart that assigns various responsibilities to employees.It decreases confusion about job descriptions.It assists with communicating through the proper channels. A risk analysis should be conducted on a regular basis and more frequently if conditions change.Some examples are:SWOT (Strenths, Weaknesses, Opportunities, and Threats)PEST (Political, Economical, Socio-economical, and Technology) Once risks are identified, they should be addressed in a risk assessment plan.The plan should include:The risk.Response to risk.Potential chance the risk could occur.Potential cost of the risk occurs. Scheduling can be a daunting task.It may be helpful to create a formal scheduling system to help manage the day to day schedule as well as overtime, sick time, vacation time, etc.Scheduling should be conducted with the budget in mind. In larger organizations, a communication plan may be appropriate.This details:The frequency of communication with each stakeholder.The medium that will be used to communicate.The response time for returning communications. Hale, Judith. (2007). The Performance Consultant's Fieldbook: Tools and Techniques for Improving Organizations and People (Essential Knowledge Resource). 2 ed. Washington D.C.: Pfeiffer. The Assignment (2-3 pages): · Identify the social problem · Explain rational for selecting social problem · Describe state and federal policies that impact the social problem · Identify specific methods to address the social problems · Explain how the agency and student can advocate to change the social problem Week 4 Discussion 1 Influence Decision-Makers If an organization considers its employees to be human assets, training and development represents an ongoing investment in these assets and one of the most significant investments an organization can make. Training involves employees acquiring knowledge and learning skills that they will be able to use immediately; employee development involves learning that will aid the organization and employee later in the employee’s career. Many organizations use the term learning rather than training to emphasize the point that the activities engaged in as part of this developmental process are broad based and involve much more than straightforward acquisition of manual or technical skills. Learning implies ongoing development and continuously adding to employees ‘skills and knowledge to meet the challenges the organization faces ...
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1 Running Head: Leading and Managing HR Project 7 Leading and Managing HR Project Leading and Managing HR Project Introduction Effective leadership is all about communicating effectively. While hiring a manager, good communication skill is a primary component to put into consideration. Helping a manager to make sure that persuasion, responsibility, creativity, and management of value system as well as providing support and motivation to teams. They should have the power to inspire and convince teams to work extra hard to achieve the targeted goals of the organization. Made possible by effective leading. Sound planning, monitoring and communicating. Effective communication acts as an added advantage for a leader to lead effectively (Armstrong & Michael, 2016). The question, what are the key points managers must keep vividly in their minds while communicating with their teams and suggestions to improve communication to make leadership more effective is a topic of discussion in every organization. Thus, forms the basis of our discussion. Effective and accurate communication act as an essential factor to grow an efficient and successful leader or manager. To accomplish professional success, managers must be active and convincing communicators. It is very vital for managers and his team to learn how to communicate effectively and to aid in successfully completing projects and enable the organization to achieve success and grow. As if that is not enough, communication allows every employee to share what they have and give their opinions. Good communication yields better understanding and trust among people, empower them to follow core principles and values that their leaders want to inculcate in them (Armstrong & Michael, 2016). Lack or absence of excellent communication leads to failure to reach goals and the overall decline of the organization. Interacting with the team freely, a manager will increase the potential of having the work done in time. Good leaders are always aware that effective communication is obtained through just a single process. It is through listening and speaking that managers are said to have good communication. Managers should hence set aside objective that they must achieve after communicating. Review and understand the types of project manager power listed and defined in the textbook and select and define any two you feel would be relevant to your current project and explain why. Be specific There are five types of project power manager; formal or legitimate power, reward power, punishment power, expert power, and relational power. One can have all these powers, but to complete the project, I will need to have at least four of them (Heldman & Kim, 2018). Since am doing my final project on leading and managing the Human Resource project, I will consider expert and reward powers. Formal power will help me to establish my own authority as the lead of the project, while expert power will help me gain .
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