General Overview About M.Sc Project Assessment Answer

General overview about Msc project management

Introduction:

Training on project management provides the professionals with a better sense of time and available resources. Therefore, the professionals with knowledge on project management perform better when it comes to managing the complex projects. The current report deals with analysis on the importance of pursuing a degree in project management for working as a commercial representative in oil and gas companies.

Purpose of studying Project Management:

The purposes of studying project management are stated below:
To gain knowledge on setting and prioritizing the goals: The knowledge on project management assists the professionals to determine scope of the project and identify the sub tasks of a large project through creation of work break down structure (Badiru & Osisanya,  (2016). In addition, the knowledge on project management also helps the professionals to prioritize the tasks on basis of a number of tools and techniques. One of the main purposes for studying project management is gaining knowledge on scope management, development of WBS, timeline and use of task prioritization tools so that the tasks with in a project can be managed effectively.
Gaining knowledge on better resource utilization: In addition to the scope and time management, the knowledge on project management helps the professionals to stay aware of the other knowledge areas associated with a project such as communication management, risk management, cost, quality, human resources, stakeholder, and procurement and integration management. Awareness on the ten knowledge areas associated with a project helps the professionals to utilize the available resources in a better way (Ford et al.2014). Gaining knowledge on every aspects of the project is another purpose for pursuing the course.
Keeping records more effectively and creating documents for review: Managing the communication among different stakeholders is important for successful completion of a project 
(de Carvalho et al.2015). Pursuing a course on project management helps the professionals to become aware of the different communication tools and techniques and the information systems used for sharing the information.

Adding value to job function: 

The knowledge on project management adds value to the functions of sales and marketing professionals:
Better prioritization of tasks: A commercial representative for sales and marketing divisions in an oil and gas company has to carry out a number of complex activities such as arranging a meetings, undertaking sales tasks, arranging different promotional events simultaneously (Ramazani & Jergeas, 2015). The knowledge creating WBS, setting timelines, identifying the deliverables of the project and prioritizing the tasks help professionals to carry out different activities simultaneously. The knowledge on project management also gives the professionals with idea on better resource management. As a result, completing all the tasks within limited time and resource will be easier for a commercial representative.
 Better communication management: A commercial representative in the sales and marketing division of an oil and gas company needs to communicate with different stakeholders of the organization (Klakegg, 2016). The knowledge on communication tools and techniques help the commercial representatives to manage communication among all the stakeholders.
 Identification of risk: Forecasting the risk factors is crucial for the organizations in oil and gas industry (Jamali & Oveisi, 2016). The performance of the oil and gas companies fluctuates significantly with the economic conditions across the globe. The knowledge on project management assists the sales professionals to identify and manage the risks for the organization in advance. 
Discussion  on  the  above  benefits  indicates  that   the    knowledge  on    project   management    can   help  a   commercial  representative    to  take better  decisions. Hence,  the  professionals     with   knowledge  work     effectively  in   corporate  leadership   roles   through   using   the   d

Key role of leadership in project management:

The leader plays a pivotal role in managing the projects (Ramazani & Jergeas, 2015). However, a leader requires having clear vision and in-depth knowledge on time and resource utilization for successful completion of the project. The role of leader is even more important in case of oil and gas organizations as these organizations have to work in an intensely competitive market and needs to deal with financial uncertainties. Hence, the leaders who are responsible for managing projects in these organizations need to have adequate knowledge on identification and management of risks, setting the goals, managing the time, cost and quality of the project. A course on project management can help the project leaders to utilize the resources and time available in a systematic manner. Hence, it can be stated that in-depth knowledge on project management techniques for the leaders is necessary to completing the complex projects in the oil and gas industry successfully.

Conclusion:

The above discussion indicates that having knowledge on project management is important for all professionals. However, the knowledge on project management helps the professionals working in the oil and gas industry to identify the risks and managing communication with different stakeholders effectively.

References

Badiru, A. B., & Osisanya, S. O. (2016). Project management for the oil and gas industry: a world system approach. CRC Press.
de Carvalho, M. M., Patah, L. A., & de Souza Bido, D. (2015). Project management and its effects on project success: Cross-country and cross-industry comparisons. International Journal of Project Management, 33(7), 1509-1522.
Ford, J. A., Steen, J., & Verreynne, M. L. (2014). How environmental regulations affect innovation in the Australian oil and gas industry: going beyond the Porter Hypothesis. Journal of Cleaner Production, 84, 204-213.
Jamali, G., & Oveisi, M. (2016). A Study on Project Management Based on PMBOK and PRINCE2. Modern Applied Science, 10(6), 142.
Klakegg, O. J. (2016). Project Risk Management: Challenge Established Practice.
Ramazani, J., & Jergeas, G. (2015). Project managers and the journey from good to great: The benefits of investment in project management training and education. International Journal of Project Management, 33(1), 41-52.