PROJECT MANAGEMENT

REFLECTIONS

The group tackles value or system value delivery. As it was explained by the reporter,
that this system for value delivery is a collection of strategic business activities. The
business organization incorporates strategies or practices that connotes value not just
to their business but mainly for their customers. When delivering a value , it has
something to do with their products or services that they intend to introduce in the
market. Value pertains to the worth of something that could be satisfactory and in
relation to delivering that value, the process in doing so isn't just centered on
enhancing their deliverables but it has something to do with the people working within
the said organization too. Part of this is on how they govern their people and the
organization as a whole. In formulating or establishing goals, mission, vision, strategies
and the drive to deliver valuable product or service to the customers, the organization
takes into account both internal and external factors. The top down to the low level
people in an organizational hierarchy must develop a set of systems and strategies that
helps them guide their people and give directions to the entities goals that are to be
pursued. Thus, the board of directors, management and employees must work hand-in-
hand following their well-established guidelines and work ethic parameters that will lead
them to developing a trusted and strong organizational name in the market that in turn
makes them loved by their customers and business partners.
The group 2 reported about project management principles. In my perspective,
principles are similar to laws, rules, and ethical guidelines that are set within an
organization that serves as a guide to its people in maintaining a good reputation that
can help in establishing a strong foundation of business . The reporters have mentioned
leadership, authority, ethics, honesty, responsibility and other valuable aspects. All the
aspects that relate to the principles and morals , or ethical standards applied by the
organization in doing their business are essential in directing their people. Once there is
a guide or parameters that are bound to be followed by the people or teams, this can
aid them in working with unity and working together with similar intentions in mind
which is to achieve their goals in pursuit of business success. The reports explained the
relevance of principles in the business arena. It was said that honesty , fairness and
respect while being responsible allows a well-established relationships among business
peers or team members. Furthermore, they have mentioned that leaders are capable of
making sound decisions , are approachable and acts in such a way that support
individual and the needs of the team. Coordination in a team was stressed out as very
essential for the smooth work flows which can mitigate conflicts, address problems and
possible risks , and promote unity. To conclude, their report has something to do with
carrying out their activities responsibly, complying necessary requirements and
guidelines, incorporating principles or taking the process with a holistic touch in
achieving a good, trusted and sustainable business.

The program, project, portfolios, and operations were the topics assigned to this group.
The above-mentioned elements are linked to one another. Although they seem to
possess similarities, their context varies. For instance, if we look closely to their
definition, it says that "portfolio refers to projects, programs, and subsidiary portfolios
and operations managed as a group. Program is the related projects or subsidiary
programs and activities that are managed in coordinated manner ". In terms of the
aspects like scope, focus, and existence project when compared to programs are more
specified while programs and portfolios are broader in scope. On the other hand
operation has a direct influence in these mentioned components or terms. As operations
refers to the on-going execution that is already covered within this projects, programs
and portfolios. It is important to distinguish their differences in order for the concept to
be not mistakenly understood in which management will encounter when doing their
work. Studying their influences will be beneficial especially to the knowledge crucial for
operations management or project management. 

The project life cycle is discussed in the group report. It includes incremental approach,
predictive life cycle, adaptive or change driven, and hybrid in its topic. The first step in
a Project Life Cycle phase is to initiate. This outlines what the project team wishes to
achieve, followed by comprehensive plans that serve as a road map for the team to
follow as they complete their tasks. This phase carries out the action that was planned,
as well as management and monitoring to keep track of their development.
Furthermore, monitoring allows the team to anticipate difficulties or anything that could
disrupt the entire process. One of the topics covered by the reporters is the many
techniques that project teams can use. One cycle is the adaptive project life cycle,
which is open to changes and allows consumers to suggest changes or provide
feedback to the project team, which allows them to predict potential flaws that may be
rectified while the project is ongoing. These different approaches are important to be
understood in order for the teams to decide on which is the best to use in fulfilling their
job in working on a project. 

The topic discussed by group 5 pertains to knowledge areas and writing project
management plans. As being defined, that project management plan is a formal
document that defines how a project is going to be carried out. It is important to learn
about the knowledge areas of how to write a project management plan. Some factors
suggested in their discussion is the determination of problems and possible solutions for
the problems. Management is broad in scope that covers goals, budget, risks
considerations, time frame for the work and many other aspects. The importance of
understanding and knowing the knowledge areas of project management plays a vital
role for every organizations. Once they are able to learn , understand and master the
knowledge areas in considering writing a plan, the workflow will be established in a
timely and organized manner. Thus, it is critical that upon writing a plan, it's taken with
seriousness and that management or project management team will take full
responsibility to what will be their specific role within the project management planning
when they are about to start their work. Taking the writing of the plan stage must be
taken seriously because it will be the basis of the managing team soon when they will
translate those plans into actions.