Best practices in Project Management Best practices in project management Best practices refer to the technique, method or process that is believed to be more efficient in achieving goals when applied to any circumstances. They are based on experiences and are used to describe the process of following standard ways of doing things. In project management, best practice basically includes these two factors: • Strategic Guidelines • International standards *(Liviu. I, Crisan. E, Muresan. I, 2010). Best practices in project management: • Defined Life Cycle and Milestones • Stable Requirements and Scope • Defined Organization, Systems, and Roles • Quality Assurance • Planned Commitments • Tracking and Variance Analysis: • Corrective Action Decisions: • Escalation and Issue Management • Work Authorization and Change Control *(Salapatas, J. N. (2000) Some of the benefits of best practices in PM are: • • • • • • • • • *(Liviu. I, Crisan. E, Muresan. I, 2010). Transfer of knowledge Better communication Time and cost savings Better process quality Better team work Better position on the market An international approach of labor Better monitoring and controlling of projects A more efficient and objective audit Project Management International Standards and Guidelines • ICB : International Competence Baseline issued by the International Project Management Association (IPMA) • ISO 10006 : Standard for quality management in project management issued by the International Standards Organization (ISO) • PMBOK : Guide to the Project Management Body of Knowledge issued by the Project Management Institute (PMI) • PRINCE: Project management standard developed and issued by the British Office of Government Commerce (GOC) • PCM: Project Cycle Management Guidelines issued by the European Commission *(Salapatas, J. N, 2000). • Leaders all over the world discovered that adhering to project management best practices that includes methods and strategies reduced risks, cut costs and improved overall success rates worldwide. Global impact of project management • Ninety percent of global senior executives ranked project management methods as either critical or somewhat important to their ability to deliver successful projects and remain competitive, according to the Economist Intelligence Unit survey. *(The Value of Project Management, 2010). References • Liviu. I, Crisan. E, Muresan. I. (January 2010). Best Practices in Project Management. Retrieved from https://www.researchgate.net/publication/46567671_Best_Practices_in_Proj ect_Management • Salapatas, J. N. (2000). Best practices—the nine elements to success. Paper presented at Project Management Institute Annual Seminars & Symposium, Houston, TX. Newtown Square, PA: Project Management Institute. • The Value of Project Management. (2010). Retrieved from https://www.pmi.org/-/media/pmi/documents/public/pdf/whitepapers/value-of-project-management.pdf Project Planning • Project Planning can be referred to as everything that we might do when we think of how to make our project successful. • Based on the type of project there could be many ways in which plans can be shaped and executed. What is Project Planning? What is Project Planning? • The main aspects of project planning could defer based on the type of project. • The objectives are different for each project and hence it becomes necessary that we are listing the necessary requirements for a project before executing the process. • Project Planning would also mean that the resources that have been allocated have to be checked upon and used in the right manner so that the execution process does not stall. • As mentioned in the fig, project planning has to be prioritized so that we are in a position to complete all the steps in a project beginning from the coding to the execution. • All of the parameters mentioned in the fig would have to be considered when we are planning the execution of a project. Importance of Project Planning Basic Principles of Project Planning • Determining how to plan • Developing the scope statement • Selecting the planning team • Developing the schedule • Developing the Budget • Risk Planning • Gaining formal approval to begin work References • Ika, Lavagnon. (2009). Project Success as a Topic in Project Management Journals. Project Management Journal. 40. 6 - 19. 10.1002/pmj.20137. • Munns, A.K., Bjeirmi, B.F., (1996). The Role of Project Management in Achieving Porject Success, International Journal of Project Management, University of Dundee, Scotland, 14(2), Pg: 81-87.
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