Future Development of Project Management

Introduction

Project is a unique, transient undertaking, embraced to accomplish arranged targets, which could be characterized regarding yields, results or advantages. A project is normally regarded to be a win on the off chance that it accomplishes the destinations as indicated by their acknowledgment criteria, inside a concurred timescale and budget. This research is based on how to improve the plan of project management so that the customer can take it forward to implement it in future projects. The process of how to approach the idea based on the client’s requirement, gathering the documentation, plan the approach, execute and monitor it. Finally analyzing the data with all the proof of success by signing the Last signed project documentation as project closure. A key factor that recognizes venture management from just ‘management’ is that it has this final deliverable and a limited time span, not at all like management which is a progressing process. Project management is the utilization of learning, abilities, instruments, and methods to a wide scope of exercises to meet the prerequisites of a specific task. There are five phases of project management and if the life cycle gives an abnormal state perspective of the venture, the stages are the guide to achieving it.

1. Project Initiation
2. Project Planning
3. Project Execution
4. Project Performance/Monitoring
5. Project Closure

For this research we would be choosing software IT domain as of how they work in the organization. This would be an ideal concept for future development of project management.

Initiation

A venture can be described as ” a temporary endeavor undertaken to create a unique product or service.” (Project administration Institute, 2008) Similarly, Klastorin (2004) states that a task can be considered as a described set of exercises that must be executed to satisfy the goals of an undertaking. A customary arrangement alludes to a deluge of numerous errands that are liable to be performed by each other, simultaneously. Priority is additionally considered as a key factor in undertaking errands. Such priority relations describe the impediment that necessities one work to be done before another errand initiates. Undertaking administration; when contrasted with different business and administrative strategies seems, by all accounts, to be chiefly confounded, both from useful and hypothetical points of view. The high immovability of its asset planning under a constrained system makes its hypothetical perspective troublesome. Moreover, the time and spending plan are the most convoluted variables of a venture with regards to its down to earth viewpoint.

On the off chance that one examines the center of various fields of life, they will perceive that few practices were not suggested decades prior. Take the example of Human Resource Management; in the past, nobody thought about it as a vital territory to make the progress. In any case, as research and assessment occurring, it is getting to be apparent that HRM is paying a critical part in the achievement of a few expansive organizations everywhere throughout the world. Likewise, Project Management was not in the spotlight a couple of decades prior. Around two thousand and five hundred years prior Herakleitos; the considerable Greek thinker said that “everything streams” and this stream is the quintessence of life that keeps it energized and recognizes it from death. This rule applies to everything and each everyday issue including business, administration, and hierarchical practices.

Steadily, associations are making enhanced procedures to embrace the change that outer and interior organizations and worldwide condition offer. A significant number of these hierarchical undertakings for versatility are overseen through ventures in light of the fact that the exertion of progress requires the portability of various material and HR. The overseeing of changing business condition viably and effectively turns into the most urgent part of a business to survey its deftness and the prospect supportability of progress. This centrality of the subject makes Project Management affirmed standard and overseeing ventures and to execute assignments with precision and adequacy transforms into a true proficient nowadays. (Baccarini D., 2001) To have a knowledge into the prospect future improvement of Project administration; it is important to have a look over its advancement in past decades and hundreds of years.

The first and foremost thing to do before starting any project management is to choose a project which is compatible with the team and the organization. If a project brings in more revenue and the client is among the top companies in the country, but it is totally a new type of project which company never handle is not the type of project to do.

When a project is handed over to the organization or a project management team a list of pros and cons should be listed out. Where the team discusses them evaluates whether it’s a good fit for the company and the team. A project can take years to complete and a huge commitment to the company so choosing it should be done with great endeavor.

The team of project management should have brought in the initiation state because changing the team or adding a new team member in the later phases will bring the time to execute will increase also increase in the cost of the project. It is also good to evaluate the costs of execution and the profits and do analysis whether the project is beneficial to the company.

When a project is selected it is handed over to the team in the firm, an extensive research should have done. By this research, Goals should be established and these should be in a broader sense which would be detailed out in the further phases of the project. When the goals are established PID (Project Initiation Document) need to be created. This document contains the needs of the project, scope of the project, profitability, constraints, Risks, Framework etc.

When the established goals are not in sync with the needs of the project or the budget of the project is increased due to the goals they need to be reestablished.

The initiation of the project can be divided into several steps.

1. Business case development
2. Conducting a Feasibility Study
3. Creating the Project Charter
4. Creation of phases

Business case development: Most of the companies have their own temples for this and by inputting the data in these documents will give an output by which the team can know if it is workable or not in favor of the organization financially. if the result is positive the project can move forward. By creating this document, it gives an idea to the shareholders of the project and the positive result make them invest in it without worrying about their money.

The company templates mostly contain section such as research about the project topic, what problems can it create if so how can they be solved. What future opportunities can the project bring into the company? If the problem is solved how much should be invested to achieve that.

If the project is done by other institutions with a good result, how can the project team come up with new solutions with less investment or is it even possible with less investment. These are some of the example questions which should be included in the company’s business case template.

Conducting a Feasibility Study: This study will help the company in conducting research which will help in detecting problems in the project early on where the topic is not yet detailed out. What will the requirement to solve those arise problems?  Conducting multiple tests to get multiple solutions and then reviewing those solutions and see which one is more feasible and less in cost and time. After determining the feasible answer, It needs to be further researched for future risks and if so what problems will it create. After all, this is done the solution is selected for the project. This document is a guide when the first option doesn’t work in the future phases this will help with the next better option.

Project Charter: This is a comprehensive guide in which the project is explained in detail. It contains the scope of the project as well as the objectives. It contains the details from the feasibility study and the established business case.  Even if the team changes in the following phases this document will guide them on the right path as this as all the documentation required to achieve the project in a successful manner. This document acts as a foundation for the project.

Creation of Phases: When the project is determined with the scope and solutions certain goals must be established within the time frame, so the project team can deliver them accordingly and within the budget. If the time frame cannot be maintained it increases the cost of the excitation of the project which the organization or the shareholders appreciates. Each team member is assigned to the phases so that the work can be distributed accordingly which will increase the productivity of the overall team.

Project Planning

After the project has been characterized and the project group has been designated, you are prepared to enter the second stage in the project management lifecycle. This stage is extremely significant to effective task as administration and spotlights on building up a guide that everybody will take after. This stage normally starts with defining goals. Task arranging is at the core of the undertaking life cycle and tells everybody included where you’re going and how you will arrive. The arranging stage is the point at which the project designs are recorded, the undertaking expectations and necessities are characterized, and the task plan is made. It includes making a project of plans to help manage your project group through the usage and conclusion periods of the undertaking. The designs made amid this stage will enable you to oversee time, cost, quality, changes, hazard, and related issues. They will likewise enable you to control staff and outer providers to guarantee that you deliver the project on time, inside the budget plan, and within the deadline.

The purpose of the project planning phase is to:

1. Establish the business requirement
2. Establish budget, time, project deadline and project outcome
3. Establish the project resources requirement plans
4. Get approval from management and send to the next phase

The basic processes of project planning are:

Define role and responsibility: not every single key partner will audit all reports, so it is important to figure out who on the project needs to approve which parts of the plan. A portion of the key players are:

Project sponsors: who owns and finances the whole task. Sponsors need to survey and support all parts of the plan.

Business analysts: who will characterize their requirement for the finished end-product. They must help build up the scope as business standard and support the records identifying with the scope.

Project manager: who makes, executes and controls the project. Since the project manager assembles the project plan, they don’t have to endorse it.

Project team: who develop the end-product as according to plan. The group needs to take an interest in the improvement of a project plan. For example, risk management, quality check (QA), and design plan, yet the group does not approve it.

End-user: who utilize the final product. They as well, need to take an interest in the improvement of the project plan, and audit the plan, yet seldom do they really need to send-off.

Others: for example, reviewers, quality and risk examiners, product specialist, etcetera may likewise take part in the undertaking. They may need to support the parts that relate to them, for example, the Quality or Product design.

Hold a kickoff meeting. The kickoff meeting is a successful method to unite partners to examine the project. It is a successful method to start the project planning procedure. It can be utilized to begin building trust among the colleagues and make sure that everybody’s thought is considered. Kickoff gatherings likewise exhibit duty from the sponsor for the project. Here is a portion of the subjects that may be incorporated into a kickoff meeting:

1. Business vision and technique (from the sponsor)
2. Undertaking vision (from the sponsor)
3. Roles and responsibility
4. Project team building
5. Team responsibilities
6. How project team make decisions
7. Standard procedures

Scope planning: It’s the principal stage of undertaking arranging it characterize that what the task is to achieve, time and cash that are utilized to accomplish the last objective of the venture. Portray the procedure required to guarantee that the venture exercises incorporate; All the work required to effectively entire the task and understand the targets indicated for the undertaking

Preparation of the work breakdown structure: split the project into task and subtask

Project calendar development: posting the whole timetable of the exercises and itemizing their arrangement of usage

Resource planning: showing who will do what work, at which time and if any extraordinary abilities are expected to achieve the undertaking assignments

Budget planning: indicating the planned budget that to be needed to deliver the project

Risk management: Getting ready for possible risks and considering future risk in mind develop backup strategies and by tracking past project risk can be utilized to keep away from future issues through getting ready for risk management

Here is some basic example of project risk:

1. End-user review and feedback process is to slow.
2. Suddenly cut-off the budget.
3. There’s no clear thought on risk and responsibility.
4. Not understanding partner need

Quality planning: surveying quality criteria to be utilized for the project

Communication planning: Outlining the correspondence methodology with all project partners. Communication planning is one of the most important parts of the project. The key point of the plan as: Who on the project needs which reports, how regularly, in what configuration, and utilizing what media.

1. How issues will be raised and when.
2. Where project data will be put away and who can get to it.

For a complex project, a formal communication matrix that can help to decide a portion of the above criteria. It helps to report the project team’s concurred on technique for communicating different parts of the project, for example, routine status, risk management, decision making, and so forth.

Once the project design is finished, it is critical not simply to convey the significance of the task wants to the sponsor, yet additionally to impart its substance once it’s made. This correspondence should incorporate such things as:

review and approve of the project design.

Process for changing the substance of the project plan.

Following stages: executing and controlling the project design and key partner parts/duties in the up and coming stages.

Project Execution

Project Execution is the phase to evaluate the process, analyses, plans and procedures to complete the project according to project specifications as outlined in the master project plan. The most key area which we need to pay attention to is the team utilizes all the schedules, procedure and template that were anticipated and prepared during the prior phase.

Steps for the project execution phase may include the following:

1. Creating tasks and organizing workflows
2. Briefing team members on tasks
3. Communicating with team members, clients, and upper management
4. Monitoring quality of work

Creating tasks and organizing workflows: In our Project Execution, we would like to use agile methodology since because if we go with the agile methodology we have a lot of benefits. Here are some benefits which I would like to include,

1. Can have more control on the project.
2. Better Productivity
3. Better quality
4. Higher customer satisfaction
5. Minimal risk and high return on investments

Work processes can be communicated outwardly through flowcharts and process maps. An outline encourages you and your group to understand the steps in a work process and the request in which they happen, and what happens each progress.

Briefing team members on tasks: A team briefing is a type of communication inside the group, which expects to pass on information to the colleagues in a snappy way. A team briefing guarantee that the information that has been passed on is effortlessly understood by the group.

Completing a team briefing enables the team to end up proficient of the present standing and improvement of the group and the project. This permits colleagues to end up spurred in playing out their obligations and duties, prompting their better execution in the team. To make this conceivable, team leaders and individuals may observe the accompanying pointers.

The team briefing should occur in a place where all colleagues can get together. Likewise, the area ought to be sufficiently roomy to suit the whole group. Also, the team briefing area ought not to exasperate separate groups.

Setting a few standards is essential in team briefing. The gathering encourages the group to be guided in the individuals’ exercises for the day so applying a few principles will be useful. While the group ought to see how basic each gathering part is, colleagues ought to likewise comprehend that the guidelines and punishments are additionally for their own great.

team briefing should likewise set a positive temperament to the Team. This should be possible by making the group ablaze by offering acknowledgments to top entertainers, regardless of whether independently or by the group. Inviting new colleagues won’t hurt, either. Lifting the vitality of the group makes the force it needs to perform better.

Groups ought to have the instructions to be short and straightforward, as the point is to give a diagram of the group’s status and advance. The short gathering ought not to last over 20 minutes. Exceedingly point by point themes ought to be noted by the group for dialog on the following gathering. Infusing numerous subjects in the instructions will prompt data over-burden and conceivable extra minutes, which will abbreviate the individuals’ opportunity in doing their normal assignments and duties. This can keep the group from meeting its objectives.

Advantages of doing Team Briefings are doing team briefings is useful to the group in some ways and Communication is one of the advantages of completing a group preparation. Colleagues could be extremely caught up with doing their standard assignments and duties consistently that they never again meet routinely. Team briefings permit colleagues to convey data about the team and the undertaking.

Team briefings give an ideal chance to the group to distinguish fundamental information, for example, positive and negative news. Positive news incorporates the group’s achievements, which can persuade and motivate the entire group. Negative data, for example, issues, can enable the group to consider approaches to settle genuine issues and avoid anticipated issues.

Team briefings can likewise convey enjoyable to the group. While these short gatherings can be dull on occasion, the group can be it enthusiastic about running a vivacious plan. The instructions can be in an intuitive mode with the goal that colleagues can take an interest. Along these lines, the group will have a positive temperament all for the duration of the day.

Communicating with team members, clients, and upper management: Using the right tool for communication is very important in any project. The team is busy, so the exact opposite thing they require is an internal communications system th at is irksome and loaded with rubbing. Luckily, with the rising focus on inner communication best practices have come various programming programs that make it straightforward and easy. Keep it that approach to guarantee your workers take part and really appreciate it.

Apparatuses that encourage inner correspondences best practices include:

Executing organization chat software like Slack, Skype for business, etc.

Utilizing cloud innovation, for example, Google Drive at whatever point conceivable.

Utilizing one stage for all your email, calendars, reports, etc (e.g. Google, Apple, Microsoft)

Maintaining a strategic distance from email over-burden with visual interchanges through computerized signage.

Communication can be tedious in any shape. You can abstain from squandering other individuals’ chance (and your own) by being straightforward, clear and brief. Before getting the phone, composing an email or planning a gathering, pause for a minute or two to think about the accompanying.

Communicating with clients and upper management enable an organization to keep up an expert picture while elucidating and gaining by the manners in which partners and business partners associated with each other. Organizations with poor correspondence systems have a more noteworthy probability of misconception, miscounted conveyance of administration and inside disorder that can bring about lower profitability and execution.

Having an inner corporate communication policy guarantees that all staff members are on a similar wavelength on everything from marking techniques to when the following organization potluck is planned. An inside interchanges procedure recognizes how materials and data are aggregated, checked on, conveyed and reacted to. For instance, inward correspondence incorporates mandates on things, for example, how voice message is set up, how the organization intranet is utilized, the framework for messaging and duplicating partners, and for circulating things, for example, meeting minutes, notices and work process or advance diagrams.

Having great internal corporate communications guarantees everybody knows about objectives and destinations, courses of events, due dates and by and large corporate execution. This may include planning consistent departmental gatherings, staff gatherings, instructional meetings and courses, day by day declarations or a vast day by day email that updates individuals regarding applicable business news and data. This approach can help group execution, energize interdepartmental community-oriented endeavors and even lift the spirit since staff members feel “on top of it” about what’s new with the association.

Monitoring quality of work: Projects are similar– Projects clients, regardless of whether inside or outside, need extraordinary items and administration. How do your clients portray your administration? Is it true that they are getting the item includes they need?

Here are some basic quality administration mistakes. If we overcome these mistakes we can greatly improve our chance of success.

1. Failure to define quality: The term ‘quality’ is equivocal.
2. Failure to stick to the requirements.
3. Failure to create and right-estimate your quality administration design.
4. Failure to perform quality assurance.
5. Failure to control quality.
6. Failure to center around prerequisites.

Here are the critical points which we need to consider improving the quality of work:

1. Engage your team on a day-to-day basis.
2. Get in touch with the project client at least 3-4 times a week.
3. Revising project financials on a weekly basis.
4. Communicate meeting agendas to participants in advance.
5. Stop being reasonable with team members.
6. Quit sitting around idly kicking your genuine work off by doing it immediately.
7. Conduct lessons learned session during the middle of the project.

Project Monitoring

Project monitoring place a prominent role in the project management lifecycle. We will be monitoring the complete project. Measuring a project will be a crucial aspect, it mainly depends on the size of the project, and in today’s world, most of the top IT firms are going with Agile methodology, requirements will keep on change and to keep monitor of all these things will be a bit challenging.

What is Project Monitoring: In this phase, we need to keep a track on all project related statistics. A project manager to make sure whether everything is going as per the project plan or not? They also need to make sure about the team performance and task allocation of the project and a proper precaution need to be taken care in advance to make sure whether the project is getting delivered within a right scope and in a scheduled budget plan. The overall view in this phase will be to make sure about the project activities and completing the work as per project planned.

In this phase first, we need to identify what exactly you want to measure. This would be a single project or success across multiple projects or a success of project management and office? we also need to determine whether you want to measure this success factor during the project life or project after its completed.

Why it’s important? A project manager to make sure to verify the statistics of the project regularly. When they make any decision without referring to any data, then it leads for a project in a jeopardize state and simultaneously leads for project cancellation and a waste of money and resource.

It is important for a project manager to check the statistics of the project regularly and come up with an intellectual idea. By doing this, a project manager will get the answer to the following questions.

1. Are the User Stories coming out as planned?
2. Any unpredicted issues or road blocks to the employees?
3. The Overall performance of each day?
4. For existing tickets, any versions are getting in place.
5. Also, existing circumstances lead you for a good result of the project.

A project manager needs to make sure to use KPIs (Key Perform Indicators) to determine how the project is performing. A good KPI will help the team to understand whether the team is going in a right path or not? they are many key performing factors, a project manager need to select what exactly will help them to see the performance reports. In this paper, I would like to cover the four important indicators. They are

1. Project Objectives
2. Quality Deliverables
3. Cost Tracking
4. Performance of the project

Project Objectives: Here we need to make sure whether we are sticking to a right schedule? On daily basic, we need to make sure whether everything is aligned to the plan and if any new requirement comes into the picture, they need to make sure whether they can in fit this sprint or not? Also, they need to make sure whether a right resource is allocated to the project and they need to make sure whether the team is getting block with any environmental issues, if so, how exactly they need to figure it out? If not, we need them to direct to a right appropriate person so that he/ she will help them to resolve the issue. In most of the multinational companies, they use an Agile methodology, so each team member will work in different time zones, so a project manager needs to make sure everything is in sync and he needs to set up a daily call. By doing this they will get insight and if any pending work is left over for the day, they can transfer them to an offshore team, so that they will continue the left-over work. Doing this will help the project to be get delivered in right time. A sprint cycle will be maxed two to three weeks. So once a developer resolved their ticket and when quality assurance certified that ticket, then a project manager can make sure and ask a customer to verify in any preprod environment so that it will help them right away whether the expectation has been delivered or not? Once the customer is satisfied a project manager can move a ticket to complete state and in this process, if haven’t met customer requirement then project manager can request their team members to verify the ticket one more time. And in this process, if they don’t like or came up with a different ideology then the manager will create a child ticket and will go back to initiate phase and check the time and then it will be implemented one CCB approval is approved on the ticket.

Quality Deliverables: At the time of planning phase, a project manager need to make sure whether a right quality analysist has been hired and able to perform the testing. So, in agile methodology, once a development is completed, we need to make sure to move the ticket to the testing phase. In the sprint cycle, a developer will try to develop, and QA person will try to write the test cases in the sprint cycle, once the ticket is pushed from development phase to testing phase, then a manager needs to make sure whether that ticket has been verified by the testing team or not?

Internal Quality Testing

External Quality Testing

Project Closure

Project closure indicates that a project is officially completed and delivered to the customers/ client. This is the most important phases of the Project management life cycle as it deals with all the hard work done from the scratch to finish. In most of the plan, Administrative closure is mainly concentrated on terminating the project team, completing all the documentation and signing off the project. Breaking project closure phase into categories would be of great understanding and are discussed in detail below:

1. All deliverable exit criteria are met
2. Transferring the documents to customers for the support function
3. Lesson learned for future project

Project managers first step would be to gather all the information for analyzing the information and to be compared with initial client requirements. Firstly, we will need to collect data from the previous phase which would be projected monitoring and control. Project monitoring phase provides the overall performance of how the progress is made, any roadblocks, how did they overcome it, is all the work documented and finally is the time and money spent for the project is utilized according to the plan. Any changes to be made are to be reconsidered, analyzed and reviewed by the planning team before execution. All the collection/ gathering of data of project, employees or other resources are the pre-stage of deliverable criteria. All of it is reviewed by experts in a team to finalize without any errors and summarize it. Some project scope is being measured based on the project plan and few based on the changes been made during the process. If there is any termination of a project to be made the decision is taken by the project manager and experts at this early phase of project closure before considering any steps further.

Secondly, tracking down the changes/improvements which has been made for better use of Project management life cycle as it can be implemented in any upcoming projects. “Lesson learned” would be the term used in the business world which happens in each stage of the PM lifecycle. It can either be the time constraint, money been spent, resources utilized and any other parameters which are considered during planning determined in the terms and conditions before taking over the contract. Talking about contract there are two types of project closures which are full closure and partial closure. Full closure represents the completion of a project from planning until concluding and handing over to the client. A full closure has a disadvantage which is the company is not allowed to run any other project until the new project management plan has been created, it happened for all the startup companies who don’t have a PMO in their new developing platform. A strategic perspective is necessary to create, adapt, and sustain a Project management plan.

A partial closure would indicate completing a project by making changes for the existing project plan by learning towards the mistakes and make changes to improvising it by bringing a new set of procedures to follow.

Once all the changes and details are being reviewed and approved by the project managers and top-level members of an organization then comes the amount of resources used for completion. The manpower, money, time and resources used to make this happened has to be compared with the initial project plan look at the change in numbers. Reasons are to be justified and explained to the client with the support of documentation. It is a validation of the path which the project took over a period of time. Once this has been done and confirmed, the team has to be terminated in other words all the contractors are discharged from the project by keeping only non-contractors or talented people for further needs like knowledge transfer and maintenance. Before letting of all contractor’s documentation of the work done by them are being finally stored in the client-server and location is shared in the client. Knowledge transfer is given for customer employees by PM team for further maintenance and all the contractors are terminated at this stage as mentioned.

There are few more points to add on regarding the closure of a never-ending project and how to overcome it. Most associations have embraced ventures that, in spite of satisfying the greater part of their degree and quality commitments, have kept on being seen by whatever remains of the association as activities. In this situation, the association does not recognize duty regarding keeping up and working the expectations of the undertaking by different divisions, yet rather keeps on considering the venture administration group responsible for such exercises.

Thus, the individuals who have the vital aptitudes, devices, means, and capacity to “work and keep up” an undertaking deliverable are not entrusted to do as such, and rather, the individuals who don’t have such ability, instruments, means, and capacity are required to work and keep up the deliverable. This isn’t putting it mildly or weakening of the range of abilities of an undertaking administration group. The undertaking group normally has what it takes, devices, means, and capacity to “build up” the venture expectations, yet not really keep up and worked those expectations. Along these lines, the venture group plays out an extraordinary activity in the previous and neglects to convey on the last mentioned.

Another similar kind of project is an orphan project; it’s the other effects of insufficient venture conclusion is the absence of appropriate deliverables or progress of the undertaking expectations to the same old thing. At the point when a deliverable is created, the gatherings required for working and keeping up that item need to have a proper preparing, mindfulness, and apparatuses to carry out their activity successfully and productively. They additionally need to comprehend—and submit—to their new duty. The quantity of associations that neglect to lead this procedure sufficiently, thoroughly, and in a convenient way, is disturbing.

Talking about the advantages of closing a project;

1. Overcoming an unfavorable situation in improving the methodology within the project plan.
2. Establishing a concern that the work done by the team is effective and has a significant result in the further project by completing it.
3. Learning from the experience and mistakes of proofreading the work they have done.

Missing these three main points can lead a project to be liable for compliance. This might lead to liability to payment and resulting in a never-ending project which is a disadvantage for an organization and PM team.

Finally, in the end, LSPP- Last signed Project Planned is to be validated and signed to the PM team saying the project is successfully completed and handed over to the customer with all the documentation and resources of that project to carry forward work done in future. LSPP document contains terms from both parties the client and project management team notifying that there have come to a clear stop in succeeding the completion of the project.

This theory would be pointing out to the basic summarization of how the project can be closed and presented to the client. But this same theory can be explained in a field of Information technology domain. The final draft would be mainly concentrating on how future development of PM works in software development field of study.

Conclusion

This paper has presented the benefit realization methodology to be implemented in the lifecycle of a project management in a public organization. There are five essential points/ phrases to be considered in developing project management for future development. Initializing Planning, executing, monitoring and closure. This discussion gives an insight as of how an organization improves itself by learning in the process. In real world most projects are being terminated in initial stages and few during the process. The strategic perspective is necessary create, adapt and sustain the PMO value to the company. IT domain is the main concern and this paper represents the main IT sectors and project management. Advantages and disadvantages of a proper project management development and how that would lead to success or failure of a project. Navigating this paper depends on shaping an organizational change. The initialization of a project and closure of project are the most important stage in the whole cycle and the rest acts as a skeleton to support the necessary agreement between the client and Project management team.

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