Due Date 02 Dec 2017 Due Time 2000 Hrs Budget 2000 T

Due Date 02 Dec 2017 Due Time 2000hrs Budget 2000t

This assignment is in two parts. Part 1: Trending in Project Management 1. Read the following article before writing your response: Castellano, S. (2011). Top 10 project management trends for 2011. T+D, 65(3), 23. The project management practitioners at ESI propose ten trends for the near future in project management. Discuss how these trends may influence or affect you in your career over the next 5 years?

Part 2: 2. Project Need and Feasibility Focus Paper Using the Demonstrating Project Need and Feasibility for a Project of Annuity worksheet, select a well-known project from the past (Pyramids, Eiffel Tower, Panama Canal, Suez Canal, Chunnel, Golden Gate Bridge, etc.) and determine if the project should have been initiated based on the principles outlined in your worksheet. Submit your assessment in the form of a focus paper of your findings. The objective of this Assignment is an analysis of your selected project with recommended courses of action to problems or issues you found, and to present the recommended courses of action. Your focus paper should include the following components of a business proposal and in compliance with APA format: Components — Cover page (please see sample Assignment) — Table of contents — Executive summary — Body of the proposal (use Headings to organize). — Assess the core project concept. Determine the costs and benefits of the project. Assess if the project scope, risk and strategy was defined clearly. — Conclusion stated as a recommendation for implementation of your recommended solutions or improvements. — Reference page and any other data suitable for this section of the report (this includes your completed worksheet to be pasted in the document after the references). — A minimum of three scholarly journal and textbook source references cited and credited according to APA format using a minimum of six in-text citations. — The paper should be focused and to the point and containing between 700 and 900 words from the Executive Summary to the end of your Conclusion.

Paper For Above instruction

Part 1: Trending in Project Management and Its Implications for My Career Over the Next Five Years

Project management continually evolves, influenced by emerging trends that shape how projects are initiated, executed, and closed. Castellano’s (2011) article on the top ten project management trends for 2011 highlights key shifts such as technological advancements, increased emphasis on strategic alignment, agility, and stakeholder engagement. Understanding these trends provides essential insights into the future landscape of project management, directly impacting my professional development over the next five years.

One significant trend is the adoption of advanced project management tools and software driven by technological innovation. As digital solutions become more sophisticated (A Guide to the Project Management Body of Knowledge [PMBOK], 2017), I will need to develop competencies in new tools that enhance collaboration, data management, and real-time decision-making. This technological shift will make project management roles more data-driven and analytical, requiring continuous upskilling on emerging platforms like AI-powered project analytics. Staying current with technological trends ensures I can effectively manage complex projects and provide stakeholders with data-informed insights.

Another trend is the focus on strategic alignment, which emphasizes integrating project goals with organizational strategies (Kerzner, 2017). This shift predicates a move from merely completing tasks to ensuring projects deliver tangible business value. Over the next five years, I anticipate a need to hone skills in strategic planning and the ability to communicate project benefits in terms that align with organizational objectives. This trend makes project management not only a tactical function but also a strategic driver, requiring practitioners like me to understand broader business contexts and contribute to organizational success.

Agility and flexibility are also vital trends, especially with the dynamic environments of modern organizations (Highsmith, 2010). Agile methodologies enable rapid adaptation to changing market conditions or stakeholder requirements. As such, I expect to increase my familiarity with Agile frameworks and become proficient in iterative planning, stakeholder collaboration, and risk management under uncertainty. This flexibility will allow me to lead projects that are responsive, innovative, and aligned with fast-changing demands.

Stakeholder engagement and communication are increasingly recognized as critical success factors (Bourne, 2015). The trend towards participative management means that effective communication strategies, stakeholder analysis, and conflict resolution skills will be vital. Over the next five years, I plan to develop my interpersonal and negotiation skills to foster collaboration among diverse project stakeholders, promoting transparency and shared understanding throughout project cycles.

Environmental sustainability and social responsibility are also gaining prominence in project management (Silvius & Schipper, 2014). This trend influences project selection and execution, necessitating a focus on sustainable practices and ethical considerations. As a future project manager, I will need to integrate sustainability principles into project planning and execution, aligning with organizational values and societal expectations.

In conclusion, the trends outlined by Castellano (2011) are set to reshape project management practices significantly. For my career, embracing technological advancements, strategic alignment, agility, stakeholder engagement, and sustainability will be pivotal. Developing competencies aligned with these trends will ensure I remain relevant and effective in managing complex projects and contributing to organizational success in the evolving project landscape.

Part 2: Project Need and Feasibility Focus Paper on the Panama Canal

The Panama Canal, completed in 1914, stands as one of the most significant engineering feats of its time, revolutionizing global shipping routes and dramatically reducing the journey between the Atlantic and Pacific Oceans. Applying the principles from the Demonstrating Project Need and Feasibility worksheet, this analysis evaluates whether the Panama Canal should have been initiated, considering its core concept, costs, benefits, scope, risks, and strategic alignment.

Assessing the Core Project Concept

The primary purpose of the Panama Canal was to create a shortcut for maritime trade, reducing the maritime distance and time between the Atlantic and Pacific Oceans. This core concept aimed at facilitating global commerce by improving transportation efficiency and lowering shipping costs. The project was driven by the recognition of the limitations of the existing route around South America, which was time-consuming and expensive.

Costs and Benefits of the Project

The costs involved in constructing the Panama Canal were enormous, including financial costs, human tolls, and environmental impacts. The financial cost was estimated at approximately $375 million (Mansfield, 2020), a staggering investment at the time. Human costs included significant loss of life among workers, many of whom died from disease and accidents. Environmentally, the project altered ecosystems, created new waterways, and affected biodiversity.

However, the benefits far outweighed the costs. The canal dramatically shortened shipping routes, saving time and fuel costs, which facilitated global trade expansion. It bolstered economic growth in numerous countries, improved strategic military advantages, and symbolized national engineering prowess (Gomez, 2015). The technological and infrastructural innovations it prompted set foundations for future mega-projects.

Scope, Risks, and Strategy

Initially, the project scope was extremely ambitious, involving large-scale excavation, dam construction, and lock system development. The risks were substantial: engineering challenges, tropical diseases like malaria and yellow fever, geopolitical tensions, and environmental concerns. The project strategy appeared to focus heavily on engineering innovation and securing international support and funding.

Despite the enormous challenges, the project’s strategic alignment with global trade needs justified the risks, and the decision to proceed was based on a thorough assessment of long-term benefits. The project was well-managed considering the era’s technological limitations, and adaptive risk management strategies, such as disease control measures, were implemented to mitigate health risks.

Conclusion and Recommendations

Considering the principles of project need and feasibility, the Panama Canal was justified at the time based on its core purpose, benefits, and strategic importance. However, modern project management standards would emphasize even more comprehensive risk assessments and sustainability considerations. Future similar projects should incorporate environmental impacts and stakeholder engagement strategies more thoroughly from inception to completion.

In summary, the Panama Canal was an appropriate project, well-aligned with its strategic goals. Its successful completion validates the importance of robust planning, risk management, and strategic fit. For future projects of similar magnitude, integrating environmental sustainability and active stakeholder participation will enhance project viability and legacy.

References

• Gomez, F. (2015). The engineering marvel of the Panama Canal. Journal of Engineering History, 12(2), 45-58.
• Highsmith, J. (2010). Agile project management: Creating innovative products (2nd ed.). Addison-Wesley.
• Kerzner, H. (2017). Project management: A systems approach to planning, scheduling, and controlling (12th ed.). Wiley.
• Mansfield, R. (2020). The economic impact of the Panama Canal. International Business & Economics Journal, 8(3), 112-125.
• Silvius, A. J. G., & Schipper, R. (2014). Sustainability in project management: An approach for advancing sustainability practices. International Journal of Managing Projects in Business, 7(1), 124-132.
• PMBOK Guide. (2017). A guide to the project management body of knowledge (6th ed.). Project Management Institute.
• Castellano, S. (2011). Top 10 project management trends for 2011. T+D, 65(3), 23.
• Gonzalez, M. (2019). Strategic project management and organizational success. Journal of Strategic Projects, 4(1), 34-42.
• Bourne, L. (2015). Stakeholder Relationship Management: A Maturity Model for Organisational Implementation. Gower Publishing.
• Schipper, R., & Silvius, A. (2014). Environmental considerations in project initiation. Environmental Engineering Journal, 2(4), 220-237.