Category: Business Essay

The term project management refers to the process of controlling, organizing, planning, and supervising of the project tasks by a project manager to ensure the success of any given operation. No project can be undertaken without proper planning. It is, therefore, the role of a project manager to plan and organize the future course of actions, which would involve making arrangements, providing staffing, directing and monitoring. Essentially, a project manager ensures that duties are shared among the project team members in order to enable completion of the plan within the required time schedule. The aim of the paper is to analyze the project management maturity model and its impact on the success of a project.

To start with, the Project Management Maturity Model (PMMM) denotes the basic stages that a business can go through to achieve quality in project management. According to it, a particular level of an organization’s project management maturity can be reached through organizational efficiency, beneficial performance, and consumer satisfaction. For any organization to assess its project management maturity, it has to evaluate the knowledge of project management performance, which can be accomplished with the help of a project maturity model.

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The primary aim of such a model is to establish the weaknesses and the strengths of any given project for the purpose of seeing the business opportunities within. It can, therefore, ascertain if a particular scheme succeeds or fails in generating consistent and justifiable outcomes. Project maturity model enables an organization to evaluate the maturity level and suggests any changes for improvement. Moreover, it also helps an organization to make any necessary recommendations and comparisons to other groups. In other words, the company itself can make self-assessment in terms of improvements. Project management maturity shows the progressive procedure that allows organizations to make constant improvements during the project course. It is a continuous process of monitoring the progress of a project until its completion that may be set, depending on the needs of the business, to the extent of particular degrees of maturity.

To be precise, the Project Management Maturity Model has five levels in determining the success of projects. The first level is the common language level: it involves providing training in project management and employment of project management experts. It encourages the utilization of a corresponding language in projects and enables the use of various project control apparatuses, patterns and forms. Accordingly, the second level is a set of standard processes, which involves increasing the funding for project management all over the organization. To ensure sustainability, it also requires the acknowledgment of the long term profits of project management and using the best possible strategy for future operations.

The third singular methodology level employs all methods into a collectively recognized project management approach. What is more, it also promotes a sense of collective accountability for the principles of project management. The fourth level is benchmarking, as it is essential for any project to reach a higher level of project management maturity through understanding the benefits of benchmarking. The last level is the continuous improvement: through assessing the lesson learned after the benchmarking process. It is thus important for an organization to conduct successive projects on the basis of the lessons learned from antecedents. Thus, an organization can apply the project management maturity model to increase their productivity by means of making changes and necessary improvements in future projects. Aforementioned can be ensured through the continuous improvement and training of competent staff, provided businesses constantly monitor the schedule and budget for effective project control. Some may say, it can be done through the feasibility study, defining scope and objectives of the projects. It is, therefore, the role of a project manager to guarantee that the project team is meeting the objectives and goals of the project in a proper manner, by monitoring the activities of the team and acting in agreement with the stakeholders’ and donors’ guidance.

Organization’s productivity can be increased through proper planning, the achievement of all tasks and overcoming milestones. Therefore, it is necessary for a project manager to implement project management strategy, which involves controlling tasks in a project. In detail, it involves choosing the goal and objectives, planning for the operational work in accordance with the schedule, sharing the tasks and distributing funds. Thus, the operation manager should work towards executing proper project management.

Importance of Organizational Strategy

Some may argue that an organization reaches successful project management maturity only through delivering a tactical plan. A well-formulated and implemented strategy institutes the grounds on which the company can produce, display and measure the degree of their success. However, many project managers discover that policy and its purpose as challenging to deliver. Nevertheless, the organizational strategy is critical to the success and sustainability of any organization for various reasons: strategy assists organizations to comprehend their organization and the essentials to its prosperity enable an organization to understand its major abilities, rule out and address its weaknesses and look for means of handling risks. Last but not least, strategy assists companies to search for ways to reach better results, productivity and increased profits. For such purposes earned value analysis can be valuable, though the standard method of measuring the achieved progress at any point of given time and prognosing future breaking points, which can be used as a part of a strategy acquired by a company. Such method integrates cost, schedule, and scope and can be used to forecast future performance and project completion dates.

In its essence, external environment tactical assessment plays a particular role in implementing long-term benefits and growth of a company. Trends in the external environment can impact business operations and organizational strategy is needed to advise on the way such changes should be handled. All in all, such a tactical way helps in creating a vision and direction for each project and for the whole organization at the same time, thus creating a mutual determination between them. Also, it sets the pace for achievement of goals and a set of actions in order to reach the goal, attends to every individual operating towards the same result, monitors that time and resources are being assigned due to the same objectives and purposes. It is important for an organization to come up with a well-formulated strategy that will lead to growth, productivity and benefits for present and future generations. Thus, the project leader should lead their team members to shared goals and objectives that will maintain the organizational focus as they work together in the same direction.

Clearly, a good strategy does not only allow a company to continue moving forward, but it can also establish its future vision through a dynamic performance of project supervisors. Such leaders, who are open to changes, will motivate its members and organize them towards achieving progress. Cooperation is essential for any organizational strategy, as it involves not only teamwork and mutual guidance, but bringing the team members to work efficiently and effectively in delivering their duties. Nevertheless, apart from allocating tasks to individuals, laying out datelines of progress is necessary for a good strategy, as it should expect and make emergency plans in case of obstacles that may arise in the future. Although it enables an organization to have its methodologies and processes evaluated according to management best exercises, a project strategy also provides room for self-assessment of each project. In such a way it allows the company to clearly define all of its objectives so that each member may be informed and meanwhile encouraged to use their own experience, to be a part of the changes that occur during maturation. In the long run, that will become the beginning of the project strategy becoming overly successful.

Objectives of the Model in Achieving Success of a Business

Project management needs to link to objectives to achieve the required results, which are generated through the analysis of ideas and accomplishments. The overall goal of project management is to coordinate and control activities to complete the project in compliance with the precedential analysis of all possible threats. Though effective objectives need to be set during project initialization, as this will lead to achieving an accurate result, they should be specific, measurable, attainable, realistic, and time-bound (SMART). In most cases, the project team is required to move from minor objectives as they head towards achieving the primary purpose to arrive at a particular outcome in certain individually productive steps.

In particular, the objectives have to be stated in a manner that will allow the organization to achieve the required results, thus it will have some fundamental elements. Firstly, it has to obtain a particular level of performance and quality, as the final product of a project must meet the requirements for which it was created. Secondly, the project will have to meet the budget and be accomplished without surpassing the approved spending. In particular, financial frameworks are not always unlimited, and a project might be restrained altogether if resources end before termination. Thirdly, the time of completion means that all important stages of a project must be undertaken within the specified dates, so they are completed on or before the end date. It is argued that the time limit objective is essential as late submission of projects is unpleasing to the donors and stakeholders. All things considered, success and efficiency are obtained only in case all of the objectives are met in accordance with the main strategy.