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Managing projects

1. Introduction about Myself

I am an in charge of a project team at a manufacturing and distribution firm of haircare products. Recently, the firm has taken the initiative to introduce a new product line of bulk-packaged hair care products to be sold and distributed to organizations such as hospitals, gyms, schools and universities with residences for students, and similar customers. As an in-charge my responsibility is to  present a project plan for the sales, distribution and the products of the newly introduced product line to the potential investors. The key purpose is to gain funding in order to launch the new product into the market.

2. Experience and Knowledge of Managing Projects

I have been applying the knowledge, tools and techniques in both my personal and professional life. One of the key examples of project management in my personal life includes the search of a new apartment. Everybody knows it is not an easy job. For this purpose, I used the basic techniques of project management in order to meet the requirements in an efficient possible way. Before, starting the new apartment hunt, I noted down some facts and figures that are a prerequisite to achieving the project diligently. Most importantly, I kept two core challenges in my mind for this project one is cost and another one is time and then I planned systematically. I planned a formal project through designing its initiatives, plans, implementation, monitoring, control and closing as well.

The initiatives include the expected outcome of the project that was of course a new apartment. The planning stage includes the specifications of the apartment that includes the location, cost, venue and also how and where to search. After planning, I executed and searched for the new apartment, made phone calls to agents, visiting the sites and meetings with landlords. Similarly, I was following the techniques of monitoring and controls on the basis of outcomes whether the plans were successfully implemented or not. Finally, the selection of an apartment. Hence, on the basis of this personal experience, I applied complete knowledge and my experienced to accomplish the project.

3. Key Concepts of Project Management

As per the unit resources, I am interested in the Turner’s Schools of Thought and the Project Scoping (Shenhar and Dvir’s Diamond Analysis). This is because, the first one is useful in attaining the project through using the leadership styles that are required for the successful attainment of the project. For example, I can use different leadership styles to manage my team members in order to complete my project successfully. Similarly, the NTCP model is useful for effective decision-making, planning, risk assessment, resource allocation, process and structure designing and selection of project management techniques. In the modern era, the tools of this model are highly useful within a project that……