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July 27, 2013

Essay on Business Management

Business management
For any business project management is the foremost important thing to achieve their objective. It has to be given critical significance. The three factors should be accomplished during the whole process of project management. It should be carried out rapidly. The mission of the project and the researches for its required collection should be made critically. The environment in which it is developed should be equipped with advanced technology to meet the modernization requirements and should be managed with appropriate business rules [Rob Thomset (2002). radical project management. Prentice hall].
      There are five basic steps that are involved in the overall project management according to PMBOK. These steps are project initiation, project planning, project execution, project monitoring and control and project closure [Harold kerzner (2009) .project management. Johns willey and sons.]. Recent development of technology has changed techniques that were used for project management in past. Innovative ideas and strategies are used to structure the management with proper role of each contributor. However Networking, life cycle of project cost planning and cash flow forecasting are still in use due its demand from the clients. The techniques that are used depend on the nature of the project requirements. Some common techniques are rapid planning, scenario planning and etc [Anthony walker. project management in costruction.].
     Scenario planning is an approach to project planning when the requirements are not explicitly documented. All the project planning is done at the very beginning of the project even the production of the project and all the steps include in system development cycle is planned at the first stage. The concept of scenario planning was emerged from the military planning and strategy. Scenario planning is a real time planning of project. It has the ability to accept the technology, requirements, and other variables during the process of development of project. In fact all the major deliverables are identified during the process of development [Rob Thomset (2002). radical project management. Prentice hall].
     The process of project management changes on daily bases. The new organizations have to keep pace with the change in technologies and strategies of business management [Rob Thomset (2002). radical project management. Prentice hall].




References:
Anthony walker. project management in costruction. Harold kerzner (2009) .project management. Johns willey and sons Rob Thomset (2002). radical project management. Prentice hall

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