Master of Business Administration

Assignment Cover Sheet

Full Name Zin Mar Win Grade / Marks

Student ID
Email address Zinmarsoe272@gmail.com

Module Information
Module Name Project Management
Lecturer Name U Win Thein Aung
Assignment Title Unit 1, Q1
Submission Due Date 10-Sep-2017
Submission Date 18-Sep-2017
Intake 1
Word Count 1195

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Student’s Signature :……………………………………………………………………

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 Master of Business Administration
Assignment Assessment Form
Student Name Zin Mar Win
Module Name PMBOK Knowledge Areas
Lecturer Name U Win Thein Aung
Assignment Title Unit 1 , Q1
Submission Due Date 18-Sep-2017
Intake 1

Excellen Very Good Poor

t Good
I. Content

Relevant to question asked

Effective use of Theory
Topics discussed in depth
Logically development of argument
Integration of Reference material

II. Originality

Orginality and creative thoughts

Goes beyond basic course material

III. Presentation

Language fluency and style

Well organized and clear framework

IV. Referencing

Acknowledge of sources

Assessor's Comment and initial

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Project Management

DQ#1 - 1,200 words maximum. List the PMBOK knowledge areas, and write brief of the
importance of each on success. Please do this in your own words, do not copy the PMBOK’s
words. Write a summary of why projects fail even using the PMBOK, and what you think should
be done to increase success based on the knowledge areas.
PMBOK Knowledge Areas

The list of PMBOK knowledge areas are as follows:

1. Integration Management (INT)

2. Scope Management (SCO)
3. Time Management (TIM)
4. Cost Management (COS)
5. Quality Management (QUA)
6. Human Resource Management (HUM)
7. Communications Management (COM)
8. Risk Management (RIS)
9. Procurement Management (PRO)
10. Stakeholder Management (STA)

Importance of Integration Management (INT) on Success

Integration management includes the range of processes required to ensure that the various
elements of a project are properly coordinated. Integration Management comprises of six tasks:
developing project character, developing project management plan, directing and managing
project work, monitoring and controlling project work, performing integrated change control,
and closing project or phase. All these tasks hold the overall project together and integrate it into
a unified whole. Integration management is essential for managing project holistically, not in
individual process chunks. Hence, integration management is essential for ensuring that all
elements of a project are successfully coordinated.

Importance of Scope Management (SCO) on Success

Scope management is about the project scope, especially the work included within the project. It
is very important to define the boundaries of the project from the beginning and to monitor
rigorously. Scope management has six tasks. These tasks are planning scope management,
collecting requirements, defining scope, creating work breakdown structure (WBS), validating
scope, controlling scope. According to these tasks, scope management is the way to define what
a project will deliver and it makes sure that everyone is clear about what the project is for and
what it includes. Thus, scope management is essential to complete the project successfully.

Importance of Time Management (TIM) on Success

Time management concerns with how to manage the time which people are spending on project
tasks and how long the project takes overall. Time management includes seven tasks: planning
schedule management, defining activities, sequencing activities, estimating activity resources,
estimating activity durations, developing schedule, and controlling schedules. These tasks are
required to ensure the timely completion of the project. A well-structured plan and schedule
plays an essential part of a successful project.

Importance of Cost Management (COS) on Success

Cost management is all about handling the project’s finances. The big activity in this knowledge
area is preparing budget which includes working out how much each task is going to cost and
then determining a project’s overall budget forecast. Cost Management involves four tasks:
planning cost management, estimating costs, determining budget, controlling costs. All these
tasks cover tracking the project’s expenditure against that budget and make sure not to
overspend. As cost management contains the processes required to ensure the project is
completed within the approved budget, cost management is very important for creating a
successful project.

Importance of Quality Management (QUA) on Success

Quality management deals with the processes required to ensure that the result of a project meets
the expectations. The quality level should be established during project planning and specified
within the project management plan. Quality management has three tasks and these are planning
quality management, performing quality assurance, and controlling quality. These tasks enable to
meet requirements and expected deliverables of a successful project.

Importance of Human Resource Management (HUM) on Success

Human resource management concerns with the processes required to make the most effective
use of people involved within the project. This knowledge area has four tasks: planning human
resource management, acquiring project team, developing project team, and managing project
team. If there is a good team, there will be a successful project. Therefore, human resource
management is usually one of the most important factors in the success of a project.

Importance of Communications Management (COM) on Success

Communications management contains the processes required to ensure the timely and
appropriate generation, collection, dissemination, storage, and ultimate disposition of project
knowledge. Communications management includes three tasks: planning communications
management, managing communications, and controlling communications. For a project to be
successful, the correct people must receive the right information at the appropriate time. Hence,
it is essential to develop a communications plan.

Importance of Risk Management (RIS) on Success

Risk management comprises of the processes concerned with identifying, analyzing, and
responding to project risk. Managing project risk is one of the most important aspects of project
management. Major risk are difficult to be identified up front and analyzed within the project
management plan. Risk Management has six tasks: planning risk management, identifying risks,
performing qualitative risk analysis, performing quantitative risk analysis, planning risk
responses, and controlling risks. It is quite sure that effective risk management maximizes the
realization of opportunities. Hence, risk management is an important factor for achieving the
success of a project.

Importance of Procurement Management (PRO) on Success

Procurement management involves the processes required to acquire the goods and services from
outside the organization. Procurement of resources means purchasing or acquiring materials,
services or results required from an outside source. Outside specialists are often needed on more
complex and large scale projects and outsourcing is common. There are four tasks in
procurement management. These are planning procurement management, conducting
procurements, controlling procurements, and closing procurements. It can be seen that
procurement management can help the job done quicker or with better expertise. Thus,
procurement management is very essential for a successful project.

Importance of Stakeholder Management (STA) on Success

Stakeholder management entails the identification of participants – groups, people, organizations

involved and affected by a project. It needs to understand their role and needs in the project and
to ensure that their needs can be delivered. Stakeholder management comprises of four tasks:
identifying stakeholders, planning stakeholder management, managing stakeholder engagement,
controlling stakeholder engagement. All stakeholders should be actively managed and addressed
within the project management plan. In order that, the project will meet its success criteria.

Why Projects Fail even Using the PMBOK

The PMBOK provides a structured methodology as to how to approach and execute a project
under the 10 knowledge areas. Nevertheless, the final decision lies with the knowledge of the
project manager. Due to limited time and financial constraints, the project manager may decide
to perform a process that they are most comfortable with, or that is easier to implement.
Insufficient knowledge of a project manager and having constraints can lead a project to fail.

The PMBOK outlines a step-by-step linear process for project completion. If this linear process
remains unchanged and projects risks are controlled by the model, PMBOK is critical to the
specific success of a project. However, in real world situations, politics, environment, social,
technology, economy, and legal issues are always changing. The nature of the PMBOK structure
restricts the ability of an organization to react flexibly to changing environments. It is a factor
that makes a project fail.

How to Increase Success based on the Knowledge Areas

The PMOBK is a vital part of a successful project. To achieve more success, a project needs a
competent project manager who is full of sound knowledge and has the ability to prioritize the
significance and effectiveness of each knowledge areas.
If tasks are uncertain, change is unpredictable and creativity is required, flexibility is required to
deal with evolutionary and non-linear processes. Thus, the higher the adaptation to environment
changes, the higher the success rate of a project.

References

https://www.thebalance.com/the-10-project-management-knowledge-areas-3866902

https://www.project-management-prepcast.com/pmbok-knowledge-areas-and-pmi-process-
groups

https://pmpcertificationhelp.com/project-management-knowledge-areas/

https://en.wikipedia.org/wiki/Project Management Body of Knowledge

https://study.com/academy/lesson/the-nine-knowledge-areas-of-project-management.html