International Project Management for Planning and Executing

Question: Discuss about theInternational Project Management for Planning and Executing. Answer: Introduction Project management is one of the essential tasks of the companies for fulfilling the needs, desires and wants of the customers. It is a process of initiating, planning, executing, controlling and completing work with the help of team members. Effective management of projects results to the accomplishment of the specific organizational goals and objectives which leads to gain success criteria (Braglia and Frosolini, 2014). The present essay is based on the given case Leadership in Managing the East Timor Project. In context to this, the essay includes methodologies for cost and schedule tracking along with report structure having information regarding data type and their explanation. Along with this, meetings with project Government Board and structure for CEO report is also explained. Main Body The company uses different methods for recommending cost and tracking the schedule of the projects. This helps in providing right and proper information regarding the completion of the project to the customers. The method which is used by the Kate for her projects is as follows: Prince2: It is a process-based method which is used by the company for the effective management of its various projects. It is accessible and widely recognized technique among the private organizations worldwide. Kate divides the project into the different manageable and controllable stages for their better handling (PRINCE2 Methodology. 2017). The seven processes through which the project manager decides cost and schedule of the project by using Prince 2 method is as follows: Starting a project: This includes the appointment of the project team as per the required skills and talent for the project. The activities involved in this step includes a selection of the executive, designing or project management team, preparation of project brief, development of business outline case and many others. Initiating a project: In this, a summary of the project is being used for the preparation of the other management documents which will be required at the time of the project. For example, quality approach, risk handling approach, control methods, etc. Directing a project: In this, project board authorizes the project along with its stage plan. An exception plan is also added to the project for handling any risk by replacing it with the stage plan. This section emphasizes the authorization of project, stage plan, giving ad hoc direction and confirmation regarding the project closure (Teller, Kock, and Gemnden, 2014.). Controlling a stage: With the help of Prince 2 method, a project of the firm is being segregated into the steps for their proper controlling. Each process is being appropriately monitored by the managers and project board for handling any issue efficiently by taking corrective actions. Managing product delivery: In this, project manager and other team managers ensured the allocation of necessary resources, precise information about the outcome of the project, accuracy of progress information and expected delivery of the planned products. Managing stage boundaries: In this, project manager and her team review the progress approve the changes by taking valid and experience based opinions of the team in the end stage. This helps in making improvements for raising the project quality before delivering it to the customer (Mir and Pinnington, 2014). Closing the project: In the last stage, project evaluation review, decommissioning the project, identification of the follow-on actions and preparation of the benefits regarding the review plan is analyzed by the manager and another team. This selected Prince2 project methodology provides organization various benefits like improvement in communication between the manager and other stakeholders, better control over the project steps, provides stakeholders an opportunity to express their opinions and help in the decision-making process. On the other hand, there are some risks as well which can affect the quality of the project. These consists of improper leadership capability which can lead to demotivate workers, inappropriate information concerning the project requirements which can affect its result and lots of documentation is needed which increases time and cost. Thus, while using the Prince2 approach project manager should handle the risks by selecting appropriate solutions (Fleming and Koppelman, 2016). It is necessary for the project manager to create a project report for presenting it to the customers. This report consists of information about the required resources, cost of the resources, the period for completion, explanation about the data type, etc. The structure includes Title of the project, abstract, table of contents, introduction, main body, and conclusion. This format of the report provides appropriate information about the project progress to the clients. In context to this, abstract includes the summary about the project, introduction is about the information contained in the plan, main body consists of various processes used for the project completion, types of techniques, costing with appropriate tool, required resources like manpower, tools and techniques, infrastructure, etc., different steps like planning, designing, data analysis, methodologies, development, implementation and many other. This report format helps in better understanding of the project and its var ious concepts. Proper representation along with exact information results to satisfy the needs of the client (Burke, 2013.). Project Governance board meeting conducts every month for informing about the progress of the project. This session helps in making changes or improvements into the completed steps as per the requirement of the customers. Monthly meetings lead to the completion of the project adequately along with handling and controlling of the risks. This prevents later stages from becoming faulty or inappropriate. The format required for the CEO and Board project report includes the only summary about the project. This review is a brief description of the project, data used, type of methods used, costing, period, steps involved, customer requirements, feasibility study, necessary resources along with their costing and risks which can be occurred with their controlling solutions. This brief information helps board and CEO in taking decisions for accepting the project or not (Kerzner, 2013). Conclusion The above essay concluded that project management is a complicated and essential process for an organization. With the help of Prince2 methodology, the project manager can easily track the various steps along with costing and scheduling of the project. On the other hand, proper format of the report can help customers in understanding every process for completion of the project. In addition, for CEO and other board members summary of the project is sufficient for making them take appropriate decisions. References Books and Journals Braglia, M. and Frosolini, M., 2014. An integrated approach to implement project management information systems within the extended enterprise.International Journal of Project Management,32(1), pp.18-29. Burke, R., 2013. Project management: planning and control techniques.New Jersey, USA. Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management. Project Management Institute. Kerzner, H., 2013.Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Mir, F.A. and Pinnington, A.H., 2014. Exploring the value of project management: linking project management performance and project success.International journal of project management,32(2), pp.202-217. Teller, J., Kock, A. and Gemnden, H.G., 2014. Risk management in project portfolios is more than managing project risks: A contingency perspective on risk management.Project Management Journal,45(4), pp.67-80. Online PRINCE2 Methodology. 2017. [Online]. Available Through: https://www.prince2.com/eur/prince2-methodology#main-menu. [Accessed on 6th October 2017]