Management of projects

The Value of Project Management Services

The administration of the numerous tasks and projects at the moment has realized the value of include project management services in their operations. Any project must start with project initiation, then go on to project planning, as projects typically go through several stages before being completed. Monitoring, controlling, and concluding the project after execution (Lester 39). Every stage entails a variety of tasks and activities, which governs the changeover to the following stage. Failure at one level actually indicates that the succeeding stage is unsuccessful. Recent times have seen the successful management of projects through the usage of project management software. More information will be available in the future because of the recognition of the need of the information, and as mentioned earlier, because of the ease of capturing the information in the various technologies such as cloud databases and the project management software.

Advantages of Project Information

The information about the projects offers various advantages, which has led to the recognition of the need for the information. First, the information can be used in the monitoring of the progress of any particular project. Successful delivery of projects involves several aspects, such as cost, time frames as well as the quality aspects (Project Management Institute 20). The information is captured at the various stages, at any particular time, can be used as a monitoring tool. For instance, during the project execution, the various resources that were identified during the planning stage are used to achieve the desired project. Mismanagement at this stage may lead to failures of the project because it causes imbalances in the various projected or foreseen aspects. When the finances are used for other means other than the required use, the cost of the project may actually exceed the expected costs, which is apparently a project failure. Therefore, the information at any stage that is captured is a tool for monitoring the aspects of the project, following the time, cost and quality aspects.

The Role of Information in Project Management

The recognition of the need for information has further arisen from the fact that the project management methodologies can offer a place for the controlling functions. Control and monitoring is a stage of project management, where the various activities that will lead to the completion of the project are monitored. The human resources are monitored for their effectiveness and productivity, and additionally, the various resources are also observed. The information of all the above is captured in the various software and databases, which will lead to the intensified use of the same, because of the advantages it conveys.

Information for Decision Making

The information contained in the various databases and the software for project management can be used in decision making by the various persons that are involved in the project execution. For instance, in the case of a construction project, the information that the project manager is keying into the software can be used as a decision-making tool for the client, the architects as well as the engineers. Decisions can be made at any project stage because in the course of the project, there are various complexities that may arise. Additionally, the information is key to delivering the project in the desired aspects.

The Future of Project Information

With the recognition of the importance of the information and the constant use of the various technologies in project management, there will be more information that will be available in the future. Change is usually inevitable, and to that effect, all persons and the project management approaches and methodologies will change to adjust to the changes.

Stages of Project Management

The stages of project management include first, the initiation stage. In this step, the information that may be available include the objective of the project, the scope of the project as well as the deliverables that will be expected from the same. The information is made available to the database, which will form the basis and the bedrock of the project. The information is captured in the various technologies facilitates ease of access as well as the ease of monitoring to ensure the project is in line with its objectives.

The second stage involves the project planning, where the various professionals get to plan how the various activities will be carried out. The cost and the financial projections are produced after the multiple requirements are added up (Chin 2). The expected project delivery time is also estimated after the multiple schedules are provided by the project manager. In the planning stage, care is taken not to miscalculate anything, because, in management, planning is referred to as the bedrock. A failure in the plan means that the whole project has failed in its management. The schedules and the cost estimates are produced used the information that is made available to the various software.

The execution stage is involving, and the involvement of the project manager as well as the other professionals is essential. This ensures that the project is delivered to expected and the scope of the same is realized. During this stage, the information from the software about the schedules provides that daily targets are achieved. Cumulatively, this ensures that the projected time is maintained in the long run. Monitoring and control is a stage that involves the checking of the progress and additionally, the control of the various activities that are undertaken. Usually, the controlling ensures that the various aspects that were planned for are actually implemented an in the right way. The information that is usually availed to the databases can also be used as a future reference tool for the same projects, or another project in the future.

Project closeout is the final stage of the project delivery reflects on the whole process. The information so far includes the project milestones and the various projected costs and time of the actual time used. Therefore, the statistics can be used to compute other information such as the success rate, as well as other variables of the project, which is easy because all information is contained in the various databases such as the Microsoft project, primavera amongst others. The information that has been made available about the current projects will.

Conclusion

In conclusion, the above argument clearly explains why the information about individual projects will be available in the future. This is so because there is increased usage of the cloud databases and the project management software, which will consequently make the information of each and every stage available for use and the cross-referencing (Project Management Institute 10). The recognition of the information has arisen due to the advantages it offers. For instance, the information aids in the project monitoring process at the various stages. Moreover, the information aids in the controlling and the monitoring of the project. All the information on all the stages of project management is made available, and at the same time, it is very essential.

Works Cited

Chin, Gary. Agile Project Management: How to Succeed in the Face of Changing Project Requirements. AMACOM, 2004.

Lester, Albert. Project Management, Planning, and Control: Managing Engineering, Construction, and Manufacturing Projects to PMI, APM and Bsi Standards. Butterworth-Heinemann, an imprint of Elsevier, 2017.

Project Management Institute. A Guide to the Project Management Body of Knowledge (pmbok Guide). 5th ed., 2017.