Name: Jaysmine kaur Maan Student id: 00296226T Project Management is a field of developing significance to industry, increasing more prominent levels both of intrigue and use. In any case, effective...

Name: Jaysmine kaur Maan

Student id: 00296226T

Project Management is a field of developing significance to industry, increasing more prominent levels both of intrigue and use. In any case, effective Project Management has additionally turned out to be all the more challenging as the environment inside which tasks are conveyed has turned out to be progressively unstable and complex. Making it increasingly troublesome are changes to the qualities of the project and group, for example, changing business connections, new advances, heterogeneous groups, and progressively different partners. The effective project management requires a broad mix of skills and competencies. Moreover, project managers require some qualities in order to make project more effective.(“Effective project leadership: project manager skills and competencies,” 2019)

Some of the qualities are listed below:

An effective Project Leader is frequently depicted as having a dream of where to go and the capacity to explain it. Visionaries flourish with change and having the option to draw new limits. It was once said that a pioneer is somebody who lifts us up, gives us a purpose behind being and gives the vision and soul to change. Visionary pioneers empower individuals to feel they have a genuine stake in the project. They enable individuals to experience the vision all alone. Moreover, the capacity to communicate with individuals at all levels is quite often named as the second most significant aptitude by task supervisors and colleagues. Task authority calls for clear correspondence about objectives, duty, execution, desires and criticism. However, a good leader must have consistent behavior, dedication and honesty with self and team members. Moving further, a good leader must have positive enthusiasm towards work which can pump other team members to do the work with a positive attitude and he or she must have ability to remain cool under pressure and can have team-building skills and problem-solving skills.(“Top 10 Qualities of a Project Manager,” 2010)

I am aware of GIFT city project which is under construction project in India. This project is being constructed on the bank of river Sabarmati between Ahmadabad and Gandhinagar. This city will have special economic zone, entertainment zone, international technological park and one of the best technological parks of India. (“Top 12 Outstanding Infrastructure Projects of India to Proud,” 2014)

There are some methods that could appropriately be used in project selection and their processeswhich includes Benefit Measurement methods which means before starting the project we should know that what are the benefits of building that project on the basis of cost, economically, Discount cash flow analysis which handles the problem of calculating the present value of future earned dollars. Secondly, Constrained optimization Methods, this method comes into play when the project is complex and more mathematical calculations will need to be performed. So, with the variety of project selection methods and tools to choose from, one can be sure that he or she have made a right choice in selecting a project.(Yada Senapathy the PMP Jedi Master, 2019)

References:

1. Effective project leadership: project manager skills and competencies. (2019). Retrieved October 3, 2019, from Pmi.org website:https://www.pmi.org/learning/library/leadership-project-manager-skills-competencies-8115
   


2. Top 10 Qualities of a Project Manager. (2010). Retrieved October 3, 2019, from Project Smart website:https://www.projectsmart.co.uk/top-10-qualities-project-manager.php
   


3. Top 12 Outstanding Infrastructure Projects of India to Proud. (2014). Retrieved October 3, 2019, from Walkthroughindia.com website:http://www.walkthroughindia.com/walkthroughs/top-12-outstanding-infrastructure-projects-of-the-country-to-proud-of/
   


4. Yada Senapathy the PMP Jedi Master. (2019, February 17). 13 Project Selection Methods for Project Management. Retrieved October 3, 2019, from PMT Institute website:https://www.4pmti.com/blog/project-selection-methods/
   

‌

Modern projects are increasingly conducted between multiple parties and vendors, who all need to collaborate and share responsibility to achieve success (Lloyd-Walker and Walker, 2011). There is a corresponding need for project leadership skills to adapt. Lloyd-Walker and Walker highlight the need for ‘softer’ skills over procedural skills, such as the ability to effectively communicate with others and facilitate effective collaboration between groups. I've also noticed the requirement to work with multiple vendors and internal teams with technology projects is becoming more prevalent, with communication skills being critical to project success.

The ability for a project manager to get engagement and commitment from people is crucial (Bourne, 2009, as cited in Lloyd-Walker and Walker, 2011), which I think is especially important in complex environments where there are often resource challenges and competing priorities. I agree with Bourne’s argument that the ability to engage competently with stakeholders should be a top skill of project managers.

Muller and Turner (2010) compliment this by reasoning that as projects increase in complexity, ‘transactional skills’ become less important compared to ‘transformational’ leadership styles. They found that project managers with higher Emotional Intelligence scores had greater success on complex projects, with procedural skills being important only on relatively simple projects. Personal traits such as self-awareness, resilience, and the ability to influence should therefore be favored (Dulewicz and Higgs, 2005, as cited in Muller and Turner, 2010).

Digital communication channels are becoming increasingly important in environments with flexible working arrangements and when working with vendors and team members in separate geographical areas. The soft-skills highlighted above therefore become even more important. Nauman, Khan and Ehsan (2010) argue that being able to empower your team to make autonomous decisions has a significant impact on project success in these ‘virtual’ environments.

I was involved in leading a proof of concept, where 'chat bot' technology was trialled on the website of a major bank. The goal was to provide a new digital channel for customers to have banking questions answered, that would improve the customer experience and decrease operational costs.

Giving decision makers the right information is critical to ensure they select the right initiatives. To ensure a fair comparison between the proof of concept and other competing initiatives, I believe a range of methods should be used, particularly Benefit Measurement Methods such as Net Present Value (NPV), complimented by a Scoring Model that takes the wider context into consideration.

Net Present Value is a form of cost-benefit analysis, that looks at future financial returns year on year while ensuring that depreciation/inflation are taken into consideration. The value in using NPV is that it can show net gains or losses across individual years, as well as the overall return over the whole of life (Project Management Academy). This provides a quantitative way to compare projects, with those with a higher NPV being more valued. However, they are only part of the story and should be complimented with a more holistic view, which is where the Scoring Model method could prove helpful.

Scoring Models use standardized criteria which can be rated by stakeholders/decision makers using different weightings, depending on the relative importance of the criteria (Project Management Academy). Using this method allows more qualitative aspects to be taken into consideration, such as customer benefit, strategic alignment or resource availability. This, alongside a financial assessment like NPV would provide decision makers with solid information to critically appraise and select the right projects for execution.

References:

Lloyd-Walker, B., & Walker, D. (2011). Authentic leadership for 21st century project delivery. International Journal of Project Management, 29(4), 383–395

Müller, R., & Turner, R. (2010). Leadership competency profiles of successful project managers. International Journal of Project Management, 28(5), 437–448

Nauman, S., Khan, A. M., & Ehsan, N. (2010). Patterns of empowerment and leadership style in project environment. International Journal of Project Management, 28(7), 638–649.

Project Management Academy. (n.d.). Project Selection Methods. Retrieved October 1, 2019, from https://projectmanagementacademy.net/articles/project-selection-methods/

i am giving the examples of students who has completed and posted the assignments till now.. i need high distinction.