Method of PM

        Prior to the initiation of PM, projects and their targets must be communicated and announced by the management. It has to be recognized by everyone that the project is supported by PM (Masing& Pfeifer, 2007). That is why greater involvement of stakeholder is important. With the proper implementation of PM in a firm, the resources of a project are utilized effectively, and the aim is considered (Ireland & Cleland, 2006).

        PM, in a present organization, is established. The company strongly influences and forms project communication, administration, welfare, team building, motivation, coordination, controlling, directing, and planning (Harrison & Lock, 2004). In addition, a number of possibilities in terms of organizations exist. Project management can exist in a protected, matrix firm, or functional organization.

        It can be said that the functional company is a technique or a model with a clear hierarchy. A functional manager like the division leader is reported directly by the project team. The small administrative staff is important for handling projects. On the basis of labor, the division is based while the technical capabilities of employees determine their positions. Its processes rely on the situation of work and personal duties. Divisions don't depend on each other (Hamilton, 2004; Sanghera, 2007; Stackpole et al., 2008).

        Matrix company is the most common design or structure for different projects. In 3 variations, it can be represented (Harrison & Lock, 2004; Kerzner, 2009; Stackpole et al., 2008): a strong, a balanced, and a weak matrix company.

        Divisions, groups, and individuals are integrated by the matrix firm over boundaries into a specific unit. That is why it is appropriate and flexible to link many organizations and divisions on a large-scale project. Its own identity is created by it which is important for managing projects by handing information, arranging coordination, communication, handling conflicts, and creating a team (Harrison & Lock, 2004). A project manager is needed by this kind of a company, but the project manager doesn’t have the authority over projects and matrix’s funding (Stackpole et al., 2008). The functional manager must know all competencies (Litke, 2007).

        There are disadvantages of a matrix organization as well. Confrontations about different priorities can take place among the functional manager and project manager, a gap can take place in project leadership (Ireland & Cleland, 2006). And balancing the aims of projects versus objectives of functional sectors is also capable of causing complexity in management levels (Hamilton, 2004). Teams are affected by this and loyalties of both parties are impacted. Great consideration must be given to communication, specifically when there is a large gap among different departments. In a matrix company, more time has to be invested for ensuring a power balance among parties existing in an organization (Lester, 2007). These disadvantages and advantages seem to emerge with a varied intensity relying on the categorization of Matrix Company. The functional concept is considered more by the weak matrix while the strong matrix company focuses more on projects as discussed below. 

        In a projectized organization, project management is management’s strongest form. The team seems to work full time on projects and managers have authority over teams (Sanghera, 2007). That is why, during a project, the team members are brought together in a single place. The project manager receives all reports and is mostly independent (Stackpole et al., 2008). More success is provided by short lines of interaction and communication. This lack of communication is also caused by the flexible and simple design of the project organization. In projectized companies, issues may only take place when project management runs isolated with other different projects; then it is not possible to use synergies as effectively as in a matrix company. In areas of high technology, this is quite critical (Hamilton, 2004).

The selection of right project management as an organizational competitive advantage was described by Verzuh (2008). The selection of project management is determined by the following important aspects (Verzuh, 2008):

Authority provided to the manager of the project

Communication that crosses all boundaries in the organization informing all stakeholders

Priorities having to compete for limited resources like people, equipment, and funding

Focus, a project’s attention by individuals and how much time is spent by them

Command chain, providing the authority to individuals and having short times of reaction for different decisions on issues

        A steering committee is required by each and every PM, which analyses the results and aims of a project, counter all disruptive factors and supports it using resources. The team of the project is engaged more in the project development, procedures of a project, and business process management (Masing& Pfeifer, 2007).

        In specific phases, project progress is incorporated into the PLC or project life cycle. This seems to begin with the initial phase, or ramp-up phase, definition phase, concept phase, or initiating phase. It follows the preparing and organizing phase, also terms as developing or planning. Then follows the executing phase which includes fulfillment, purchasing, and designing of a project. The life cycle ends with the closing stage in which termination and delivery of the outcome of a project are carried out. The terminology utilized for describing phases changes in accordance with the researcher (Ireland & Cleland, 2006; Kerzner, 2009; Lock, 2007; T. Mayer et al., 2008; Pfetzing& Rohde, 2009; Sanghera, 2007; Stackpole et al., 2008; Verzuh, 2008). Phases of PLC are added to by tasks and deliverables. In the first place, a deliverable is a project charter. A plan of project management is concerned with the second phase and the third phase is concerned with the final product, and project documentation’s archiving is associated with the fourth phase.

        PLC seems to depend on the service of product that must be delivered. Its phases are sub-divided into different knowledge groups for better management. In knowledge groups, the following are included by numerous authors: integration, human resource, procurement, quality, risk, time, cost, scope, and communication (Cleland &Gareis, 2006; Hamilton, 2004; Sanghera, 2007; Stackpole et al., 2008).

        In PLC’s single phase, distinct packages of work are explained. These inform the stakeholders what they have to do, the next package of work, timeframe, available budget, and the resources that they must utilize (Ireland & Cleland, 2006). Each and every stakeholder is the individual involved somehow in the project. It may be a single individual like a customer or an engineer, or it can be the whole organization or a department (Pfetzing& Rohde, 2009; Verzuh, 2008).

        Special competencies and skills are needed for managers of the project to successfully manage a project (Brandon, 2006; Hamilton, 2004; Kerzner, 2009; Litke, 2007). Following is how they are summated:

        Open minded, problem solver, capability of reviewing, anticipate issues, effective systems of work, assertiveness, integrator of individuals, cross-linked thinking, determine the project environment, coping, keep efficient individuals, administrative skills, judicious, persuade, teambuilding, getting quality individuals, conflict resolution, self-manifestation, linked thinking, negotiate, organizing, hard worker, technical skills, generalist, control and monitor, operational flexibility, communication skills, leadership, skills of planning, self-confident, manage the changing environment, capability of completing things, sensitivity for several interpersonal relationships, and high values.

Target of PM

        The objective of PM is all about controlling and balancing six factors including resources, risks, budget, schedule, quality, and scope for the effective performance of projects. The issue concerned with management is to consider all these elements equally. For instance, decreasing the duration for completion can influence scope and quality negatively but it may have a positive influence on budget and resources. Three factors are emphasized by all authors: scope, budget, and schedule with quality being an alternative. ‘Magic triangle' is formed by these factors (Cleland &Gareis, 2006; Harrison & Lock, 2004; Kerzner, 2009; Lester, 2007; Litke, 2007; Lock, 2007; T. Mayer et al., 2008; Stackpole et al., 2008; Verzuh, 2008). The given six factors are stated only by the PMI and a magical hexagon is made by them (Stackpole et al., 2010).

        The capability of balancing these elements is founded on general experience. It is significant for project management not to be reactive but proactive. The former one is considered acceptable only in the case of unpredicted events (Bentley, 2010). Management, for this objective, has to know the borders and targets of the project, which must be directly and openly shared with stakeholders involved with the project (Jankulik et al., 2005; Pfetzing& Rohde, 2009). The target of project management is also impacted by some soft factors such as motivating and guiding the team with adequate planning in a practical situation (Pfetzing& Rohde, 2009). Following criteria was suggested by Lester (2007) for supporting balance as a target:

In the beginning, clear aims are described

Sponsor and support by top-management are provided

Tight control in terms of finance

Detailed procedures of quality control

Effective documentation of the group

Effective relationship with clients

Enhanced external and internal communication

PM’s aim must be the satisfaction of all stakeholders involved and should also deliver support for all actions from which an organization is benefitted (Brandon, 2006).

Measurement and Result of PM

        It is indicated by management whether projects were successful and if the expectations of sponsors and stakeholders were met. In 1978, one of the first techniques of this measurement, "site man-hours and costs", was developed (Lester, 2007). The costs and number of hours generated in a certain project are measured by this instrument. The baseline is another measurement for the efforts of PM. Certain targets are defined and also compared to the practical or actual performance. Scope, schedule, and cost are checked by baselines which are utilized for determining whether expectations in terms of the project are met or not (Sanghera, 2007). KPIs were established by Lester (2007) for measurement, which can be simplified as economic figures, requirements, and milestones among others (Lester, 2007).

        Additionally, MTA or milestone trend analysis was introduced by Lock (2007) in which individual milestones are evaluated and the actual dates of milestone are compared with the original dates of the target. In MTA, a divergence can simply indicate if the requirements are fulfilled (Lock, 2007).

            EVM or earned value management is another technique utilized for measuring effective efforts of PM. It is defined by the SPI or schedule performance indicator and CPI or cost performance indicator (Brandon, 2006; Lester, 2007; Lock, 2007; Sanghera, 2007; Stackpole et al., 2008).

            Other than the measurement used with hard data, satisfaction factors were introduced by Brandon (2006). Generally, these are not hard measurements are rather factors of soft measurement. Normally, they are organized in fixed intervals and assessed with the ending of phases. Satisfaction is measured not only in terms of stakeholders but also to consumers. Decisions regarding the project are influenced by it (Brandon, 2006).

        Efficient results of PM in successful projects. Users of project management are actually informed and guided regarding what they can have expectations about and how the results will be. It is significant for PM standards to be reproducible for ensuring that they are capable of being implemented to different projects. Following are the consequences of a good PM (Bentley, 2010):

Less consumption of time for completing the project

Elimination of overrunning of costs

Delivery of the required product only

High caliber product

Management knows the actual status and there is transparency at each and every stage

            In addition, a PM must account for consumer expectations (Verzuh, 2008). In the view of Verzuh (2008), since consumer is the one to judge a product, success is represented by customer satisfaction even when the budget or schedule haven’t been planned or executed customers must be provided with realistic expectations by PM and follow through all those times during the project’s duration (Verzuh, 2008). Actually, a good PM can result in the transformation of resources into services or products for consumers and minimization of after-effects and effects of setbacks. In a coordinated and planned way, everything is carried out (Cleland &Gareis, 2006). The influences of disasters are minimized by PM with the use of a project’s potential trade-offs and by being considerate of when the objectives cannot be acquired or it is not possible to execute the plan (Kerzner, 2009).