What are the benefits of developing Project Management Skills? Why?

Management by Geoffrey

For Residency Project #1 you will be working to answer the following questions on Project Management. The final deliverable (paper) should include the following:

QUESTIONS

1. What is Project Management? Why is it important?

2. What are the benefits of developing Project Management Skills? Why?

3. Below is a list of project management approaches? Pick 3 to compare and contrast. Make sure to provide an overview of each of the 3 approaches, as well.

    1. Agile Project Management
    2. Waterfall Project Management
    3. Process-Based Management
    4. Benefits Realization Management
    5. Critical Chain Project Management
    6. Extreme Project Management
    7. Lean Project Management
    8. Earned Value Management

4. What phases in a project’s lifecycle are recognized by PMI (Project Management Institute) and what is the PM’s responsibility in each phase?

5. What is Stakeholder Management? How can poor stakeholder management impact a project?

6. What is Risk? How can risk impact a project? Is risk always negative?

7. What is the “3-legged stool” in project management? Explain.

8. Why do projects fail? Provide examples of the type of reasons for project failure.

9. When a project fails who should take responsibility? What about when a project is a success?

Requirements:

  • There is no minimum or maximum required number of pages. Your analysis will be considered complete, if it addresses each of the 9 components outlined above.
  • Use of proper APA formatting and citations. If supporting evidence from outside resources is used those must be properly cited. A minimum of 7 sources (excluding the course textbook) from scholarly articles or business periodicals is required.
  • Include your best critical thinking and analysis to arrive at your justification.
  • Approach the assignment from the perspective of the senior executive leadership of the company.