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Graded Exercise 3

Ravindranath Chowdhary Kanuri (8873647)

Project Management-1298, Conestoga College

MGMT8400 – Sec 24 Advance Project Planning and Control

Sawsah LawLa

June 11, 2023

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The two types of appropriate methodologies used by the company are: -

a. Highly flexible, focused on guidelines, forms, checklists, and templates.
b. Less flexible methodology with rigid policies and procedures in place.

The reasons that senior management would insist that the organization have a project
methodology in place are: -

1. Accepted and used throughout the company:

One of the main reasons senior management would insist on a project methodology is
to provide a consistent and approved framework for project management practices
throughout the organization. Senior management ensures that project teams and
stakeholders have similar knowledge and understanding of how projects should be
carried out by applying a standardized approach. This uniformity promotes effective
communication, cooperation, and information exchange among project teams, boosting
project outcomes.
Project methodology enhances productivity and minimizes the learning curve for new
team members joining projects. When project managers and team members are
acquainted with the approach, they can quickly adapt to new projects and use their
talents and knowledge within a familiar framework. Developing a generally accepted
methodology may speed project execution, reduce inconsistencies, and improve overall
project performance.

2. Recommended or Guidance on the Level of Detail Necessary:

A project methodology may be required by senior management to give direction on the
right amount of detail necessary for project planning, implementation, and monitoring.
Projects vary in size, complexity, and scope, so striking the correct balance in recording
project information is critical. Too little information might lead to missed duties or
hazards, while too much detail can hold back productivity and add unneeded
administrative work.
A well-defined project methodology specifies or recommends degrees of depth for
project documentation, planning, and reporting. This guideline assists project teams in
determining the amount of information required for each project area, such as work
breakdown structure, risk management, or communication planning. Senior
management ensures that initiatives are effectively planned, tracked, and managed by
making explicit recommendations.
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3. Standard Techniques for Planning, Scheduling, and Cost Control:

Using this project methodology, senior management may use standardized methods for
crucial project management tasks, including planning, scheduling, and cost control.
These processes are essential for achieving organizational goals.
A project methodology often consists of standardized procedures, instruments, and
templates for planning tasks such as defining the project's scope, establishing goals,
locating milestones, and calculating resource needs. It offers a systematic approach to
creating project schedules, using tools like dependency management, critical route
analysis, and resource leveling. To ensure consistency and accuracy in project budget
management, the methodology may provide cost estimating, tracking, and control
techniques-cost estimating, tracking, and power.

In conclusion, senior management insists on having a project methodology to provide

an acknowledged and shared framework for project management practices, give
standard approaches for planning, scheduling, and cost control, and provide direction
on the right degree of detail. Senior management can track project status, allocate
resources wisely, manage risks, and make defensible choices based on accurate
project data. These factors encourage efficient project execution, promote
communication and teamwork and give senior management the information they need
to decide wisely and guarantee project success.
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References
Bartte, D. (2023). Conestogadesire2learn. Retrieved from Project Methodologies:
https://conestoga.desire2learn.com/d2l/le/content/764167/viewContent/16540872/View