UNIT 2 INDIVIDUAL PROJECT PRINCIPLES OF IT PROJECT MANAGEMENT
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UNIT 2 INDIVIDUAL PROJECT
JADA L. GREATHOUSE
AMERICAN INTERCONTINENTAL UNIVERSITY
UNIT 2 INDIVIDUAL PROJECT
ITPM611-2304D-01
10/17/2023
Memo
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UNIT 2 INDIVIDUAL PROJECT
To: Management
From: Project Manager, IT Department
Subject: The Importance of Project Management in the Product and System Life Cycle,
Portfolio and Program Management
The IT division is stepping up its project management infrastructure in response to the
business' growth.
I've written this memo as the project manager for the IT department to
emphasize the value of project management in relation to portfolio management, program
management, and the life cycle of products and systems.
The purpose of this memo is to
illustrate how project management can benefit our company's expansion efforts as a whole.
Project management plays a critical role in the product life cycle.
A product life cycle
includes four stages: introduction, growth, maturity, and decline
(Sraders, 2021). In the
introduction stage, project management is needed to ensure a new product is put onto the
market.
What this process consists of the new product is testing it and designing a plan.
In
the growth stage, project management makes sure that the product meets the needs of the
consumers and scaling appropriately.
In the maturity stage, project management directs on
providing an improved product's value, while in the decline stage, project management this
could involve removing the product and presenting a new product (Sraders, 2021).
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UNIT 2 INDIVIDUAL PROJECT
Project management also plays a vital role in the system life cycle.
A system life
cycle consists of six stages: feasibility study, system analysis, system design, system
development, system implementation, and system maintenance (Gillis, 2019).
Project
management is important during the feasibility study to define the project scope and establish
whether the system is practical.
Project management makes sure that requirements are acquired and documented
during the system analysis stage, and that the system design is compliant with the
requirements during the system design stage.
Project management makes sure that the
system is produced on schedule and within budget during the system development phase.
Project management focuses on maintaining the system and resolving any difficulties that
develop during the system maintenance stage.
Project management guarantees that the
system is successfully rolled out during the system implementation stage (Gillis, 2019).
Program management consists of managing a set of similar projects that together
reach a certain goal (Mallek, 2023).
Project management assists program management by
making sure that individual projects are staying within the overall program goals.
Project
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UNIT 2 INDIVIDUAL PROJECT
managers also help provide input in the variety of projects for the program.
Lastly, project
managers assist in continuous updates on the status of individual projects, this is used to
evaluate the performance of the program (Mallek, 2023).
In summary, project management is necessary for the success of our company's
growth projects. The context of the product life cycle, system life cycle, portfolio
management, and program management all require project management.
Individual projects
must be finished on schedule, within budget, and to the necessary quality standards.
Project
managers are in charge of guaranteeing this happens.
Along with regular updates on project
status that may be used to measure the overall performance of the organization.
Project
managers also contribute to the selection of projects for the portfolio and program.
Our
organization can guarantee that we are well positioned to meet our expansion goals by
investing in project management infrastructure.
REFERENCES
Sraders. Anne, (10/29/2021).
What is the product life cycle?
Stages and Examples.
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UNIT 2 INDIVIDUAL PROJECT
Retrieved on 10/13/2023, from
https://www.thestreet.com/markets/commodities/product-life-cycle-14882534
Gillis, Alexander, (06/2019).
Systems Development Life Cycle.
Retrieved on
10/14/2023, from
https://www.techtarget.com/searchsoftwarequality/definition/systems-development-life-cycle
Mallek, Laureli, (01/2023).
Program Management VS Project Management.
Retrieved on 10/14/2023, from
https://www.atlassian.com/agile/project-
management/program-management
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