1

Hiram Garcia Velasquez

Curtis Thompson

PMG 320

8/10/2022

Self-Reflection

Project management is an essential tool to improve the quality of a business and its

processes. Harvard Business Essentials defines project management as “ The allocation,

tracking, and utilization of resources to achieve a particular objective within a specified period of

time.” ( Harvard, 2004). This is an important definition that we have to take into consideration

while working in a company or organization. Because as a manager we want to save time and

money, with the right planning, we can achieve these obstacles.

There are several obstacles that each company faces. Being a project manager is not an

easy task and it requires a lot of training, methodologies, and training. The most common issues

project managers faces are the following:

Scope Creep: Also known as functional creep, feature creep and requirement creep. In

project management, this refers to continuous growth or uncontrolled changes in the scope of the

project. This is a very harmful problem while working on a project since it creates a change in

clients' decisions. When the scope of the project is not properly documented, controlled, or

defined then scope creep occurs. This can be easily avoided by establishing a clear path and

understanding of the time, cost, and resources. It is important to include everything a project

needs and doesn't.

 2

Risk Avoidance: “Risk avoidance is the elimination of hazards, activities, and exposures

that can negatively affect an organization's assets.” (Pratt). I consider risk avoidance an

important strategy to take into consideration while working on a project, the reason is that as

project managers we want to eliminate or reduce any possible risks that could alter the project.

The avoidance strategy is designed to minimize possible threats. Risk avoidance and mitigation

can be achieved through different methods, starting from policies, procedures, training, and

technology implementations.

Risk Analysis: “Risk analysis is a detailed process of identifying and analyzing the

various issues that may occur and affect a project, quantifying them, and looking for measures to

control them. Risk can be simply considered as the chance of an issue occurring.” (“How Risk

Analysis Works”). When a project is started the project manager must stick to the plan he

created. The planner created includes specific procedures, resources, and tasks that the project

needs to be successful. The risk analysis helps us to prepare and avoid losses in a project. It is

important to compare the risks and benefits and see if the risk offers more benefits than the risks

and the cost it produces. The following chart has helped me to understand when it is important to

accept or decline certain risks.

 3

Project Planning: “Project planning is a procedural step in project management, where

required documentation is created to ensure successful project completion. Documentation

includes all actions required to define, prepare, integrate and coordinate additional plans. The

project plan clearly defines how the project is executed, monitored, controlled, and closed.”

(Techopedia). Project planning is the second of the four stages of a project management plan.

(Initiation, planning, execution, and closure). I consider that this stage is the most important

because we analyze in detail all the resources, financial risk, quality control, etc. Factors like

milestones, timeframes, resources, deliverables, and scope play an important role during this

stage. During this stage, after we identify the project's goals, project scope, and once all parties

have agreed on the project scoop the next step is to identify the deliverables of the project. After

analyzing the phases of the project we should create a breakdown structure and assign roles and

responsibilities to the members that are working on the project.

I also learned that being a project manager requires many sets of skills and traits. There

are many details that you need to be aware of during a project. I would say that I'm a responsible

person but I still need to improve on and monitor the weaknesses I have. Being a project

manager requires a high level of organization and responsibility. One of my biggest weaknesses

is that sometimes I focus too much on a day to day activities rather than the bigger picture. While

working on a project you need to be a step ahead of what's happening. Communication plays

also an important role while working in a company and a team project. My communication skills

are good but they can be better with some work, during a project it's important to communicate

with the stakeholders and keep them informed about the project and anything that is changing.

Presenting project updates will give a clear vision of how is it going to be with the project.
 4

Works Cited

Managing Projects Large and Small: The Fundamental Skills for Delivering on Budget and on

Time, Harvard Business Review Press (2004),

HBR Guide to Project Management, Harvard Business Review Press (2012),

Pratt, Mary. “Risk Avoidance.” SearchSecurity, 12 Oct. 2021,

www.techtarget.com/searchsecurity/definition/risk-avoidance.

“How Risk Analysis Works.” Investopedia, 30 Sept. 2021,

www.investopedia.com/terms/r/risk-analysis.asp.

Techopedia. “Project Planning.” Techopedia.com, 24 Sept. 2012,

www.techopedia.com/definition/14005/project-planning.