General Aspects and Approaches in Project Management Application according ISO21500.

By Global Trust Association

15 July, 2019 | 16:07hrs

One of the main advantages of working on projects applying the principles and guidelines of Project Management according to ISO 21500 is to achieve improvements in the compliance with the requirements of the product and/or service, which will be reflected in improvements in customer satisfaction. Likewise, the efficient management of resources helps to improve sustainability and encourages cost optimization, which has a direct impact on increasing competitiveness and generates greater effectiveness of the results regarding business objectives.

Projects are a natural part of the mechanisms to guarantee and sustain the company operation and, at the same time, drive its growth through the implementation of changes required to adapt to the current dynamics of its environment. In this regard, the aspects of project management –known as subjects– will be used as a framework to ensure the success of projects. According to ISO 21500, these subjects are as follows:

  • Integration: identify, define, combine, unify, coordinate, control and close different activities and processes related to the project.
  • Stakeholder: identify and manage the sponsors, customers and other stakeholders applicable to the project.
  • Scope: identify and define the work and required deliverables applicable to the project.
  • Resource: identify and acquire appropriate project resources.
  • Time: prepare the schedule and monitor and control its progress.
  • Cost: develop the budget and monitor and control its progress
  • Risk: identify and manage threats and opportunities
  • Quality: plan and establish quality assurance and control.
  • Procurement: plan and acquire products, services or results, and manage the relationship with suppliers.
  • Communication: plan, manage and distribute information relevant to the project.
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