Assignment Task
As one of the fastest growing knowledge area, project management has evolved over time. Treated earlier as a subcategory to production, engineering, and operation management areas, project management is a combination of several disciplines including business and management (Gauthier & Ika, 2012). Organization uses project management to realize business objectives and goals crucial for the success of the organization. Effective project management can give a strong competitive advantage in project delivery, provide quality services, and reduce project costs. Excellence in effective project management can also guarantee measureable and tangible results based on scope, time, and cost, which are the cornerstone to project success (Kerzner, 2010). Defining and implementing best practices for project management is the sole discretion of the organization. Best practice refers to a technique, tool, method, or approach used effectively to arrive at the desired outcome. In this sense, project management body of knowledge (PMBOK), projects in controlled environment (PRINCE2), agile project management or strategic execution framework (SEF) are some of the effective project management best practices. Typically, best practice is something, which improves organizational efficiency and effectiveness, and provides consistency and uniformity across organization (Kerzner, 2010). Adopting suitable best practices for making the organization an excellent institution is a significant challenge faced by project management office (PMO). PMOs are the custodians of best practices, and it is their duty to establish best practices for the organization. Constituting a PMO, adopting project management methodology, finding strong project managers, developing project management capabilities, and using feedback mechanisms are some of the best practices an organization needs for its success.
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