Overcoming main challenges of project management with ISO 21500

By Global Trust Association

25 February, 2020 | 04:02hrs

Due to the changing and disruptive nature of today’s markets and their global focus, it is not possible to talk about implementing strategies or improving those already existing aimed at ensuring the growth or possibly the survival of the organization, beyond project management.

To this end, ISO 21500 proposes to apply methods, tools, techniques, and skills within a sound and organized framework to ensure projects can successfully achieve the established objectives.

Below are some of the main challenges faced by managers in charge of conducting and managing projects:

  • Adequate project governance. Establish the management structure, policies, processes and methodologies to be used, empowerment, responsibilities, access to information, and continuous communication with stakeholders on submitting issues or risks.
  • Skills for Project Steering and Management. Availability of resources having the required skills and properly understanding the roles, responsibilities, authority levels, and limits within the project team.
  • Appropriate project time estimate. Take into account the variables affecting a correct estimation of the project’s duration, such as quantity and type of resources available, the relationship between activities, planning calendars, learning curves, and administrative processing.
  • Costs and Risks. It is possible to obtain an accurate cost estimate based on a more precise estimate of the project activities. Also, it is suitable to use methods to consider the value of money over time and add an estimate of contingencies to deal with risks or uncertainties.
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