Portfolio Analysis Project Management Techniques

Portfolio Analysis and Evaluation of Project Management Techniques

Portfolio Analysis Project Management Techniques – The techniques and tools are significant for the effective project management. The Project management techniques are specifically making the overall management of the projects effective and easier. The project managers, software of project management and a range of project management aspect take their own techniques and tools that are likely to helpful for the projects to save the maximum cost and time. The problems can also occur in the project management. These problems related to the management of the project must be tackling effectively to complete the project on time without any delay.

All of the problems and their substitute solutions set up some fundamentals of change in the project that must acclimatize. Projects are normally conventional to perform these changes the management of the project is responsible for the successful project completion. So, it is also important to know that each project is exclusive as far as the problems that occur are concern and the main concern and resources needed for it, the atmosphere in which it functions, and the attitude of the project manager to control and guide all of the activities of project. As a result, the project should be planned to fit all of the requirements of organization and the nature of the problems that needed to solve under the project (Seyr, 2019).

The techniques and tools to be used in the project also depends on the organizational structure because depending on the nature of the organization the project available project personnel, resource, priorities, laws, and other possibility can also change. Implementing effective techniques of the project management reduce the disturbance of regular resources of the business activities by placing under a particular control on all technologies, skills required to understand the project. The analysis of the portfolio level is a significant part of organization a derivatives portfolio. The common types of portfolio analysis are Aggregated Cash Flows, Total Value, Value-at-Risk, Stress testing and Risk Sensitivity all of which are essential for effective portfolio analysis.

Portfolio analysis in project management is a quantitative method for optimal portfolio selection that can balance between make the most of the return and reduce the risk in various indecisive environments. In this report there would be discussion regarding the tools and techniques and problems solving method in the project management (Rever, 2007).

Critical Analysis of Tools and Techniques

The project management is very demanding task with numerous complex responsibilities. Opportunely, there are a lot of techniques and tools are available to assist in tasks accomplishment and responsibilities execution. For example, some may need a computer with effective software, while in some of the projects the tasks can be management manually. Project managers need to select some techniques and tools for the project management that are more compatible with the style of management. There are some of the tools and techniques that can be applied to project management to optimize the overall operations of the project (Jackline, 2014).

PERT Technique in Portfolio Analysis

The PERT (Program evaluation and review technique) is a control and planning tool used for controlling and defining the responsibilities necessary for the accomplishment of project and is essential in effective portfolio analysis. The PERT charts are frequently used in the project. The PERT is an extensively used technique for development and large-scale projects coordination (Calmèset. al., 2021). PERT is essentially a tool for the management control and planning. It is also known as road map for particular project or program in which the most important elements have been totally recognized, with their equivalent interrelations’. The PERT charts are time and again built for a lot of projects, the end date is permanent and service provider has flexibility of front-end. A fundamental PERT-style planning element is to recognize the critical activities. 

Following are the main steps involve in PERT planning:

  1. Identify the particular milestones and activities. The activities are the project tasks. The milestones in the process are events that mark the start and the ending of all activities.
  2. Verify the appropriate activities sequence. This step is connected with above one because the sequence of activity is obvious for tasks. Other responsibilities in the project may need some investigation to resolve the accurate classification in which they must be carried out.
  3. Build network diagram. By using the information of the activity sequence, a diagram of the network can be drawn that show the series of parallel and successive activities. Arrowed lines in the diagram stand for activities and circles symbolize the milestones of the project.
  4. Estimation time essential for all activities. Weeks are normally used time unit for completion of the activity, but reliable time unit can be utilized. An individual feature of PERT is its aptitude to handle the uncertainty in completion of the activity. For all activities, the model typically comprises three-time approximation:
    • Most likely time – time of the completion with highest possibility.
    • Optimistic time – shortest time to complete an activity.
    • Pessimistic time – longest time for an activity to complete.

Critical Path Technique

The critical path method is project management technique for planning of all process and defines the non-critical and critical tasks of the project with objective of preventing problems of time-frame and bottlenecks of project process. The critical path method is preferably suitable for projects that consist of a lot of activities that interrelate in a composite manner(Cohen, 2018).

For critical path method implementation, there are quite a few steps that are as follows:

  • Define all of the required tasks and organize them in ordered list.
  • Create a diagram or flowchart that shows the relationship between different tasks in the project.
  • Recognize the non-critical and critical relationships between tasks.
  • Find out the projected execution or completion time for all tasks.
  • Devise or Locate substitute for the critical paths

In case a critical path is not right away obvious, it might be helpful to find out 4 timelines for all activities (Ray, 2018):

  • EF – Earliest Finish time
  • LF – Latest Finish time
  • ES – Earliest Start time
  • LS – Latest Start time

All of these times can measure by using the anticipated time for the activities. The initial finish and start times of activity are find out by forward working via network and formative the earliest time on which an activity can finish and start bearing in mind its predecessor actions.

Gantt Charts

Gantt charts in the projects are used to demonstrate task assignments of the calendar time in months, weeks and days. This tool utilizes graphic representations to demonstrate elapsed, start and finishing point times of task in any project. The Gantt charts are perfect for progress tracking in the project management. The days required to finish a particular task that achieve a goal can compared with the number that is either estimated or planned. The real workdays, from the start to conclude, are plotted underneath the days scheduled. In the project processes this information help in targeting the possible failure points or timeline slippage. These are also said to be the chats that serve as an important tool of budgeting and can demonstrate dollars spent versus dollars owed (Rever, 2007).

Histogram

Histograms are said to be the tool that use in the project to make understanding of the project easier for the project team. It is a kind of bar charts that portray variables distribution over time. This symbolizes the mean distribution. This diagram can use different shapes depending on the distribution condition. The histogram used to calculate something next to time for example the histogram plotted with variable on the x-axis and time on the y-axis. The following histogram demonstrates company’s website number of hits on different day time. The x-axis demonstrates number of customers or users active on website and time of the day shows on the y-axis (Osha. gov, 2018).

Portfolio Analysis Flow Chart
Portfolio Analysis Flow Chart

Flowcharts

 In the project management flowcharts are rational steps in logical organization to achieve an objective. By using the geometrical objects, the flow charts are drawn as rhombus, rectangular, activities, parallelogram, and points of decision in a process. Flowcharting in the project can also help to identify where on project the problems of quality occur and how problems take place. There are said to be a lot of tools are there today in market for flow charts drawing, for example MS Visio, project management software etc. These techniques and tools are supportive for project manager to incorporate it and understand it and convey a quality product (Hiles, Andrew, 2010).

Problem Solving

In the project management a lot of problems also raise and it is important to deal with them effectively in order to minimize the risk of project failure and complete the project on time. There are some of the problems solving techniques to be used by the project management for better project accomplishment (Nowak et. al., 2020)

1. Brainstorming. The first step in the project management to solve any problems is brainstorming, it means to think of different possibilities and techniques of solving the problems and what impact does selecting particular techniques would have on project.

2. Patience. It is also very important to not get panic over the problems, in some of the cases the project management become frustrates with the problems occurring that can further increase the tension. It is essential for the project management team to be patient at the time problem occur. A patient approach would also help keep away from any error that further increase the problem additional issues would also raise.

3. Apollo Root Cause Analysis. This is said to be the technique in the project management that acknowledge that the majority of the outcomes have numerous causes, and find out actions and conditions that might contribute to problem occurs.

3. Data collection. By collecting more information related to the problems and way of its solution, project team members can develop more appropriate response.

4. Consider the effect anticipated solutions for the problems in the project may have as a whole on project.

5. Pareto Analysis. It is the generalized economy rule that 80 percent of the outcomes are get through 20 percent of work. It can also say that 80 percent of problems are caused by just 20 percent of root causes. Pareto was an economist who first comes up with this rule and the analysis produce a table of incidence of every cause and plot it on a bar representing cumulative total(Bragg, 2003).

6. Process evaluation. Some of the Problems in the project management can be approach by dividing the systems into segment that can be investigate for the problem source.

7. Fishbone diagrams. These diagrams look like a fish skeletal structure and chart causes to recognize effects while defect analysis. There are different questions are there used to build Fishbone diagram cause and effect based on whether question related to the problem deals with services. By imagine all cause and connected effect; managers can easily recognize the problems source.

Risk Management in Portfolio Analysis

The risk management objective is to make certain security never redirect the attempt from the established goals of the business. It is also said to be the process that comprise the recognition, prioritization and assessment of risk to manage the impact probability. Here are some of the risk management techniques to use in the project management (Clarizen, 2018).

Identification

The reorganization is the initial process idea that is to describe and uncover risks that might affect the project outcome. The major question to ask here is the reason behind the lack goal specification and thinking of risk is misperception. Recognizing a problem and discussing it is key to risk management process beginning(Allan, 2002).

Qualitative Risk Portfolio Analysis

The Qualifying risks an analysis is the method that is used to quality any risk that can occur during the project under this method involves making a list of the potential risks, with ranking them. For risks assessing from qualitative aspect following are some actions to be used (Clarizen, 2018):

  • Probability and matrix and impact assessment: Rating and analyzing risks using possibility and its impact on like schedule, performance and cost.
  • Risk categorization: Risks grouping by general root causes to build up effective reaction.
  • Risk urgency: The risk ranking from the matrix probability mutual with importance can help place priorities of these risks.
  • Expert judgment: Expert opinion from people in field or with alike experience project can also help in the accomplishment of the project.

Quantitative Risk Portfolio Analysis

These are said to be the methods that deal with definitive probabilistic and measuring techniques of project management. The major risk is risk of money losing and qualitative systems cannot be use to count the overall cost of the project. The following are some of the ways that can be used to minimize the risk associated with the project (Rever, 2007):

  • Schedule and Cost risk analysis: Cost scheduling and estimates are used as values of input that are randomly selected for the iteration.
  • Expected Monetary Value analysis: Measuring the average scenarios outcome that may or may not occur.
  • Probability distributions: It can be used in the simulation and modeling to correspond to the values uncertainty in things like the task labor and costs.
  • Analysis of Sensitivity: This is very simple method to find out how the risk is affects the project of any organization.

There are a huge number of methods to “count” the project risk throughout the process analysis. Once measurement has happened, the planning final stages have to begin.

Conflict Management

Smooth/Accommodate Conflict Management

 The accommodate conflict management emphases agreement areas rather than difference areas; giving way one’s position to others needs to preserve relationships and harmony between the project team (Jackline, 2014).”

This method also is acquainted with the professional relationships’ importance towards the success of project. As far as the long-term projects are concern, strengthening and persevering becomes very important for the project team. Nevertheless, the members of the project team are continually emphasized on differences, on the project making more of the progress becomes very complicated (Rever, 2007).

Agreement areas to give emphasis to will also vary based on the situation. It can also be said that the project shared commitment and impacts of disagreement on others team members. The project management also needs to position agreement areas that surfaced throughout the project stages. Effectively using accommodating and smoothing requires considerate of the conflict between parties. For instance, are parties really distress about a project work being late. As a project manager, it is very important for successful accomplish the project to eliminate any kind off risk from the project (Rever, 2007).

Quality Management

The quality assurance process is connected with the nonstop analysis and development of process. Before this all levels of the quality must be verified, it is very important to have correct data; as there is an old saying, “garbage in, garbage out.” For that reason, the project team have to conduct a methodical analysis of measurement system to authenticate the integrity and accuracy of system of measurement and data. There are said to be a lot of components of the good measurement system (Clarizen, 2018):

  1. Precision – data is measuring precisely that is supposed to calculate
  2. Reproducibility – unlike appraisers same measuring item get the similar outcome
  3. Accuracy – the true value reflected by the data the property to be measured
  4. Repeatability – following measurements by same evaluator have to be the same

Effort and time have to be made by the project team and project manager to make sure the credibility and accuracy of the system of measurement. The future decisions credibility depends on vital step of the quality assurance. The overall process analysis is said to be the quality assurance key aspect. This process analysis also comprises all of the topics of value-added analysis and root-cause analysis.

Many of the project managers are well-known with the root-cause analysis, in particular use of fishbone diagram or cause and effect. This is very important to know that there is root-cause analysis is to take in five main categories: methods, people, measurement system, materials, machines, and setting when inspecting the sources of the problems occur in the project management. This is also very easy to focus on the greater part of improvement corrective and efforts measures on people. After all, administration decides on the procedures, methods, processes and materials so be confident about the investigation of the root causes in all of the above categories (Jackline, 2014).

Portfolio Analysis MBA Project
Portfolio Analysis MBA Project

Conclusion

Summing up the discussion it can be said that it is important to know that each project is exclusive as far as the problems that occur are concern and the main concern and resources needed for it. Implementing effective techniques of the project management reduce the disturbance of regular resources of the business activities by placing under a particular control on all technologies. PERT is essentially a tool for the management control and planning. It is also known as road map for particular project or program in which the most important elements have been totally recognized, with their equivalent interrelations.

The critical path method is preferably suitable for projects that consist of a lot of activities that interrelate in a composite manner. The Gantt charts are perfect for progress tracking in the project management. The days required to finish a particular task that achieve a goal can compared with the number that is either estimated or planned. The histogram used to calculate something next to time for case in point the histogram plot with variable on the x-axis and time on the y-axis. There are some of the problems solving techniques to be used by the project management for better project accomplishment. Some of the Problems in the project management can be approach by dividing the systems into segment that can be investigate for the problem source. Rating and analyzing risks using possibility and its impact on like schedule, performance and cost.

References

Allan, A. (2002). Innovation Management: Strategies, Implementation, and Profits. Oxford University Press.

Bragg, S. M. (2003). Essentials of Payroll: Management and Accounting. John Wiley & Sons.

Calmès, Christian, and Raymond Théoret. “Portfolio analysis of big US banks’ performance: the fee business lines factor.” Journal of Banking Regulation 22, no. 2 (2021): 112-132.

Clarizen, T. (2018, February 19). What Are Some Good Risk Management Techniques?

Cohen, E. (2018, April 18). How to Use the Critical Path Method for Complete Beginners.

Hiles, Andrew. (2010). The Definitive Handbook of Business Continuity Management. John Wiley & Sons.

Jackline. (2014). Quality Management Tools and Techniques.

Nowak, M., Mierzwiak, R., Wojciechowski, H., & Delcea, C. (2020). Grey portfolio analysis method. Grey Systems: Theory and Application.

Osha. gov. (2018). Process Safety Management Guidelines for Compliance.

Ray, S. (2018). Understanding Critical Path in Project Management.

Rever, H. (2007). Quality in project management–a practical look at chapter 8 of the PMBOK® guide.

Seyr, B. F. (2019). Portfolio Analysis in the Field of Strategic Knowledge Management. GAZDASÁG ÉS TÁRSADALOM, 2018(3–4), 54-66.

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Organizational Ethics Program

Organizational Ethics Program

Organizational ethics refers to the principles and standards upon which businesses function according to the business’s references. The principles, as well as set standards, are mostly demonstrated over the deeds of objectivity, reliability, decency, compassion and obligation. The strategy for both business venders as well as the officials is to confirm that all the workers comprehend to the set standards as well as the principles. This can be done by initially communicating the organizational ethics to the employees through the act of training the employees on the standards of the company. Based on the basis of illustrating the goals of an organizational ethics program, essentials necessary in constructing and ensuring the function of the organizational ethics program together with the ways of implementing the procedure in favor of an organization’s future will be discussed.

The Goal of the Organizational Ethics Program

Based on the different sectors that the set organizational principles and standards function, such as on uniform treatment, considerations, financial ethics as well as dealing with the social responsibility of a particular business, the connection established is used to construct a uniform organizational goal to be attained on the course of operation. To start with, the set standards and principles ensures uniform treatment amongst all employees based on the same respect regardless of their culture, race, religion or even lifestyles. The ethics program in business through this role establishes the provision of equal promotion chances to the employees whereby the issues can be addressed during sensitive training, holding seminars as well as through inviting outside experts to disclose these issues unto the employees.

Secondly, on achieving an organization’s goal, financial stability has to be met that is protected by the compliance of the organizational ethics program in the business. This is for the purpose of business owners to establish clean business operations with respect to finances, expanding as well as investing for their companies. For example, the standards and principles may be set on prohibiting and taking action to those who bribe state legislators for either tax privileges or even credits (Johnson, 2018). On the consideration basis, a company’s ethics program ensures the provision of care to the employees who are mentally challenged, with substance abuse problems including alcohol and drug dependency. The ethics of the business through the set principles as well as standards helps the employees to overcome such problems if possible, such as putting them through employee advisor programs.

Ethics are also mandated to protect the community as well as establishing and maintaining safety standards to the nearby residents. They ensure the communication of chemical dangers by the organizations steered on ethical environmental practices. Through the joint functions established by the organizational ethics program, actions, as well as company decisions, are governed on ensuring welfare amongst the employees, customers and the community at large thus establishing the organization’s ethical philosophy hence defining its reputation on efficiency and effectiveness.

Essential Elements of an Organizational Ethics Program

For corporate compliance to organizational ethics, the standards, as well as principles, should be set to align with the company’s operations as well as objective strategies. In this approach, standards and control that includes both the code of conduct, procedures as well as standards and policies are based as the foundational elements of a functional organizational ethics program (Doppelt, 2017). Another pillar is the training feature that ensures the employees are well acknowledged on the relevant company corporate policies, laws, prohibited conduct as well as the set regulations to be applied in practice. After communicating all the critical information from the management, the questions on whether the employees of the particular company are answered through an oversight approach that includes monitoring, auditing and responding to the organizational issues.

Monitoring involves both reviewing and detecting the process of ethics compliance whereas the auditing process comprises of limited review that is based on targeting particular business components, region or even a sector of the market within a specific timeframe. Both efforts, therefore, require responding from the top management for the need of adopting any change if required in compliance with the organizational standards and principles.

Organizational Ethics Dissertation
Organizational Ethics Dissertation

Implementing the Changes based on Future Organization of a Project Management

During the process of practicing to initialize, plan, execute, control as well as close the activities of a particular team to achieve certain goals as well as meeting a specific criterion over a specified time, implementation of organizational ethics program counts to be of great significance. I work in project management that involves the planning, initializing, executing, controlling and closing different works from various teams, and observing activity operation under undefined standards and principles is a challenging issue. This is because most project management work fails as a result of unification in carrying out specific activities (Hornstein, 2015). On the other hand, you find that the initializing process of a task is simple amongst a particular team group, and the work collapses upon reaching the planning as well as the execution process. This fails due to the lack of ethical procedures to unify different plans as well as execution processes that establish the concept of how to control and finalize the work.

However, implementing the ethical changes will increasingly create a foundation for the achievement of future organizational effectiveness as well as efficiency in its operations. Further, the implementation process should be based on strategies to educate and acknowledge new as well as the existing employees on the changes that have occurred regarding compliance of the company’s standards and principles. For example, implementing these changes on my expertise area, project management, ensures mutual initializing, planning and execution of different tasks, that is closed under a unified system of control thus increasingly constructing a good reputation based on the concept of effectiveness and efficiency.

References

Doppelt, B. (2017). Leading change toward sustainability: A change-management guide for business, government and civil society. Routledge.

Hornstein, H. A. (2015). The integration of project management and organizational change management is now a necessity. International Journal of Project Management, 33(2), 291-298.

Johnson, C. E. (2018). Organizational ethics: A practical approach. Sage Publications.

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Project Control Construction

Project Control

Project control is vital since it ensures that resources, budgets, and time are used effectively. In addition, the project control is significant as it enables the project manager to evaluate the progress of the project and adjust on the shortcomings and risks that are encountered during the completion of the project as discussed below.

Earned Value Management Techniques

As a project manager of a 5000m2 retail development construction project, the project control measures are very vital in the quest to achieve the goals. Control of this project can be conducted using the Earned Value Management, EVM. The EVM evaluates the progress of the project embracing the objective approach (APM, 2013: 7). This technique is very significant as it enhances the control work which can be conducted at any period, hence, determining the current status of the project. The EVM embraces the use of a baseline project plan to control the desired outcome. In this method, the cost management as well as the schedule of the project evaluations are conducted in an integrated manner (APM, 2013: 9).

Some of the goals of the 5000m2 retail development construction project include maintaining budget and minimizing costs. This necessitated the allocation of specific amount of the resources including the human capital. In this regard, project control enables the project manager to have a control of how the project progresses considering the time taken for each activity undertaken (APM, 2013: 9). More so, the cost of the project is controlled using EVM is necessary to evade the misuse of the resources and finance allocated for the project which could jeopardize the outcome. Apart from that, EVM project control is vital since there is absolute need to deliver positive results which are useful in answering the business case (APM, 2013: 7).

Project Control Measures

Using measures such as the evaluation of the performance reports can be of great importance in ensuring that project scope including project plan, schedule among others are helping the project manager deliver the goals of the project as stipulated before the project commenced (Fleming and Koppelman, 2010: 54-55). As the project work progresses, the project manager should be informed about the achievements made as well as the cost that has been used by the time performance reporting was been conducted. EVM also enables the manager to have an estimation of the final cost of the project together with time that is likely to be consumed (APM, 2013: 9). The EVM gives a clear overview of the progress and the status of the project which is essential for the project management since the resources as well as activities are arranged in logical sequence. This ensures that the activities are at as planed in the baseline project (APM, 2013: 9).

Project Control Dissertation
Project Control – Roland Wanner

Project Control Risk Planning Initiative

As a manager, it is necessary to initiate the risk planning so that the risks that are encountered in the project can be handled (APM, 2013: 60). The progressive evaluation of the status of the project vividly indicates the risks that the project faces. In addition there is a clear forecast of the future risks that the project might encounter. Therefore, planning for the risk is inevitable in a construction project. The previous projects can be used to evaluate the project risks.

In addition, benchmarking on similar projects can be a useful technique under the EVM control of risks. Moreover, the risk management software can be incorporated to deduce both the cost risk analysis as well as the schedule risk analysis (APM, 2013: 68). This is because the construction project’s completion time is usually scheduled and there is a need to manage the time so that the project does not run behind the schedule. Moreover, the finances and other resources are allocated in a sequential and logical manner. Hence, conducting schedule risk analysis ensures that the project status is as outlined in the baseline project (APM, 2013: 69).

More so, any discrepancies are managed using the appropriate methods that does not cause cost variance. This is because the allocation of finances is done when the project plan is made. Furthermore, the change control management is vital so that the risks mitigation processes can achieve the desired goals of the project (Fleming and Koppelman, 2010: 206).

Controlling the Project Plan and Schedule

As  project manager, it is necessary to ensure that the baseline project and project plan are achievable and useful in supporting the business case. In this regard, the project plan can be changed if the project manger determines that there are shortcomings to its effectiveness and validity. In addition, if there are some external and unplanned forces such as the political instability, the project plan can hence be altered (APM, 2013: 73).

One of the possible ways is the EVM Compass Maturity Model (APM, 2013: 73). This model is necessary as it ensures that capability project control is improved. This is done through rating the progress of the project on a scale of 5 with 5 as the highest score. Therefore, project manager and stakeholders evaluates the EVM attributes such as cost, time, resources, and finances, among others and rate their performance relying on the realistic and evidence based approach (APM, 2013: 73-74). On the other hand, the baseline review is another method that can be used to control the project plan and schedule. The baseline reviews can be conducted by an independent firm hence giving reliable information about the status of the project, the project manager can thereafter act accordingly.

Data trace assessment is another technique embraced under the EVM since all the data carried out in the project is evaluated and a detailed and valid status of the project (Fleming and Koppelman, 2010: 211). In addition, tracing the resources will help in project control as the will safeguard the time schedule of the project. Tracing resources is another technique which shows the progress of the project as it evaluates the distribution of resource within the different areas of the project. This is necessary in ensuring that time is effectively managed as well as ensuring that the resource use is matching their viability (APM, 2013: 75).

Reviewing Collected Data and Acting

Acting on the collected data is vital as the possible and necessary changes for the project are enhanced. Reviewing the schedule performance index determines how far behind or ahead the project is running which enables time management. Moreover, the cost performance index which represents the cost of the earned value to the total costs of the project helps in budgeting trace which controls the finance management (APM, 2013: 80). Comparing the current performance of the project is a suitable way to forecast and plan for the future.

Evaluating EV Reports

The test of project reasonableness can be conducted through evaluating the Earned Value reports. These reports can be produced progressively as the project work advances. The EV reports are vital as they enable the project manager to improve on the management techniques so that the project goals as outlines in the plan are realized (APM, 2013: 90). More so, evaluating these reports ensures the current risks are encountered as well as laying down concrete plans for the forecasted risks.

In addition, setting the cost and variance a threshold ensures the parameters such as cost and schedule of the projects are analyzed effectively (APM, 2013: 105). If the variance or the cost is above the threshold at any given time then there should be drastic changes. The project manager controls the project to ensure that reasonableness is always maintained (Fleming and Koppelman, 2010).

References

Association of Project Management HandBook (2013) Earned Value Management ISBN 13: 978-1-903494-47-9

W Fleming and Joel M Koppelman (2010) Earned Value”, Project Management, Fourth Edition – ISBN – 978-1-935589-08-2

Roland Wanner (2014) “Earned Value Management”, The most important methods and tools for an effective Project Control by Roland Wanner 2014 – ISBN – 978-1500850234

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Project Management UAE Construction Industry

Assessment of the Application of Project Management in the United Arab Emirates Construction Industry

Subject: Project Management in UAE Construction Industry. This dissertation aims to critically analyze the application of project management for successful project completion in the construction industry. Literature review covers extensively the development history of project management since the old ages to modern era project management techniques.

The first three objectives are covered during the desk study of reviewing different literature available. Major reasons of project failure in achieving designed project goals are identified and how the market slowdown is affecting the construction industry of United Arab Emirates. The role of project Management becomes essential when complexities such as introduction of new technologies, tasks to perform which are inter dependent, large and distant teams spread across different departments, different projects or sometimes different parts of the World and constraints of time, quality, cost are imposed.

Modern project management tools and techniques are discussed in detail and use of new technology to improve the performance of project management hence construction industry is highlighted. These findings of literature review are used further in research methodology to develop an online survey questionnaire (quantitative) to evaluate the aims and objectives set for the research, e.g. the level of awareness of PM tools and techniques and to investigate if the current industry demands are met by project management and to discuss any potential improvements/features that can lead the construction industry to achieve better results in project success.

Conclusions are drawn from the analysis of data received based on online questionnaire from professionals in the industry and the aim of dissertation is achieved by meeting all the objectives set for this dissertation. In the end, recommendations are made that can lead the construction industry to achieve better results in project success.

Dissertation Objectives

  • To critically analyze the available literature on project management development history; addressing the demand of the construction industry, and how it has been assisting the industry in managing projects of extensive nature
  • To identify the major reasons of project failure in UAE construction industry in achieving the designed project goals
  • To identify how the market slowdown is affecting UAE construction industry
  • To investigate the level of awareness of new project management tools and techniques
  • To investigate if the current industry demands are being met by Project management techniques, and to identify any potential improvements/features that can lead the construction industry to achieve better results in project success

UAE Construction Industry Dissertation
UAE Construction Industry Dissertation

Dissertation Contents

1: Introduction
Rationale
Aim
Objectives
Research Methodology
Dissertation Structure

2: Literature Review
Project Management
Project Management History
Concept of Modern Project Management
Project Management Process Groups
Initiation
Planning
Executing
Monitoring and Controlling
Closing
Major Causes of Project Failure
Facts about Projects Failure
Causes of Projects Failure
Project Management Associations, Standards and Applications
Need for Project Management in Construction
Why Project Management
Benefits of Project Management
UAE Construction industry and Market Slowdown
UAE Construction Set Back
UAE Construction SWOT Analysis
Competitive Environment during Recession in UAE
Development of Project Management Tools and Techniques
Project Management Software
Over View of Prevalent Software Products
Evolution / Merging of Primavera with Oracle

3: Research Methodology
Objectives of Research Data anthology
Research Approaches
Quantitative Methods (Deductive Approach)
Qualitative Methods (Inductive Approach)
Mixed Methods
Research Strategy
Questionnaire Design
Questionnaire Sampling

4: Survey Data Analysis and Results
General Introduction Questions
Project Management General Understanding
Performance of Construction Industry in UAE
Modern PM and UAE Construction Industry
Further Improvements

5: Conclusions and Recommendations
Conclusions of the Objectives
AIM of Dissertation
Recommendations
Limitations of the Research

References

Appendix
Questionnaires

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Sustainable Construction in Abu Dhabi

View This Dissertation Here: Project Management UAE Construction Industry Dissertation

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Dissertation Managing Project Complexity

The Importance of Experience in Project Managers when Managing Project Complexity – A Study into the UAE

Traditionally, the success of a project lays on the shoulders of project managers and its achievement is constantly measured by the properties of cost, time and quality, which appear to be a simple way of measuring within the construction industry. Interest for project management is becoming fundamental. Yet, projects keep on failing at an astounding rate. This research has investigated the education level of project managers in managing project complexity, by understanding the current educational level of project managers and also to understand whether advanced education is required before achieving the designation of project manager.

Managing Project Complexity
Managing Project Complexity

This dissertation also investigates the leadership qualities and skills required for project manager to handle complex project. This research was done in 2 steps; first step of the research is to review the literature. The literature review consists of project success, complexity, background experience, skills, leadership qualities and education. Second step is to conduct an online survey by preparing 20 questions and is sent to 50 selected project managers and directors of different companies and sectors. Out of 50, 31 responded to the survey.

After analyzing the results from survey, it was found that most of the project managers have not achieved any advanced education before achieving the designation and their current education emphasized more on engineering – technical aspects and less on management aspects. The project managers who had advanced education were given more importance to hard skills (which are scope, time, quality and cost) and soft skills (which are communication, social, conflict management, etc.).

In this dissertation, many project managers had different view on project complexity. However, most of them stated that the factors relating to complexity are due to financial problems, uncertain designs and no proper construction details. Finally, the dissertation has been concluded by saying that advanced education is required for project manager to manage uncertainty and complexity. However having experience is one of the most important factors in addition with education for project success.

Dissertation Objectives

  • To investigate the educational level in project managers and to understand their abilities in adapting with change in project complexity
  • To understand the skills and experience needed to become a project manager and for project success
  • To measure project success in complexity
  • To understand the leadership qualities required for project success

1 – Introduction
Background
Rationale
Aim
Objectives
Research Methodology

2 – Project Success

3 – Complexity
Introduction
Complexity in Construction
Measuring complexity in construction

4 – Project Manager’s Experience and Skills Required for Project Success
Project Manager’s Experience
Project management skills
Required skills for managing complexity

5 – Leadership in Project Managers for Project Success
Leadership in Construction Industry
Different Leadership challenges faced in Complexity
Leadership Styles and Competencies in Construction
Political skills, Leadership and Project success
Modern Leadership in Construction Industry

6 – Education for Project Managers
Challenges faced in project management training and education
Evolution of project management and project managers
Approaches in educating project managers
Advanced training in educating project manager

7 – Research Methodology and Design
Research Methodology
Survey Questionnaire

8 – Data Results and Analysis
Data Results
Data Analysis

9 – Conclusion and Recommendations
Summary
Recommendations

References

View This Dissertation Here

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