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Question: Discuss About The International Journal Of Project Management? Answer: Introducation Project management is the approach which involves the applications of varied tools, skills and knowledge which are needed to attain project objective (Leimbach, and Goodall, 2017). In todays scenario this technique has gained greater importance as it allows managers to complete their task within the given specified time limit. In the present report discussion will be carried out on different concepts such as project, risk and quality management. In this regard, the report will showcase the implications of modern developments in the future of project management. Furthermore, at the end recommendations will be suggested to ensure the success of project. Changing perspective about project management The concept project management has been into the practice for more than 50 years. Thus, it has evolved very much till this time. In this regard, many studies have been done by researchers upon project management and hence have found out several perspectives about the concept. Herein, the study conducted by Kerzner state that earlier project management was seen as the type of career path. This mean that previously project manager see this concept as another designation in their career path (Kerzner, 2010). However, now days the thing has completely change as now project management has gained strategic importance. At present, manager uses this technique for the purpose to complete their task within the given specified time limit and hence gain core competency. In addition to this, managers view about project management has also changed in relation to the training. Earlier project managers used to receive general organizational behavior training which assist them in their task completion (Carvalho and Junior, 2015). However, now project managers are given number of specialized training which is related to the topics of managing diversity, virtual team and relationship management etc. This indicates that at present project management has become internal and the most important part of any business. This is because, it is with the help of given method only, manager will be able to complete its work within particular time frame and thus earn high profit and sales. Furthermore, previously companies used to see all their undertaken projects alike. However, this thing has changed and thus projects are segregated in the form of complex and non complex category. This type of segregation has improved the work of project manager. It has allowed them t o make the segregation of their work on project importance basis. Significance of managing risk in project management Risk management is being considered as the systematic process of assessing all certain and uncertain factors which might give threat to the organizations capital. Moreover, the quote entailed by Rajan gives more clarification about the risk management concept. Rajan Quote that Taking no Risk is the best form of Risk management (Quotes About Risk Management, 2017). In accordance with the given context, Asadi has entailed in his study that risk is the undividable part of project. This means that all type of project whether it is complex and non complex possesses some type of risks. In respect to this, some type of risk assessed which occurs in front of project managers while doing their work (Asadi, 2015). It consists of scope risk, scheduling risk, technology risk and resource risk. It is very necessary for the project managers that they should take action against all these given risks. This is because if not taken then it may affect the quality of the completed project. The impact of the same will be seen on firms profitability. Below are the points which depicts about importance of managing risk in project management. Help in the management of scope creep: As Kerzner has also entails in his study that scope creep is the most critical and impactful risk of any project. But, action against such type of risk could be taken if prior plans will be prepared by making use of different risk mitigation method (Kerzner, 2017). This thing will allow manager with regard to deliver the high quality services to their client. Allows timely project delivery: The main aim of project manager is to deliver his work to client in the specified time limit. But, on doing this project manager faces many hurdles due to different unidentified risks. Thus, by making use of risk management approach managers can assess all type of risks which could affect their productivity. It is through this way only project managers can complete their work on time (McMahon, 2016). Risk management strategies and quality management Risk and quality management are being regarded as another most important part of any project. This is because these are the two main factors which ensure the success of project. In accordance with the given context, it can be said that managers will be able to deliver high quality project to their clients if they have taken significant measures for removing different hurdles which occurs in front of them. Therefore, with an aim to do the respective task they have to take assistance from number of risk management tactics and these are all depicted in below: Planning: It is being regarded as one of the most important risk management tactic. This approach entail that managers should prepare plan in relation to each and every type of risks which may occur in front of them. Moreover, the approach also entail that the managers should segregate their identified risk on the bases of their impact fullness upon project. For instance, the risk which is highly impactful should be put in red category and thus should be mitigating first (Nicholas and Steyn, 2017). If work will be carried out through this order then assurance of giving high quality work can be ensured. Monitor: The risk like scope creep requires continuous monitoring. This is because if it is not done then it will become very difficult for the project managers with respect to give their services within specified time limit in an effectual way. Modern developments in project management and its implication in future There are number of developments happening in the field of project management. These developments will not only enhance the effectiveness of future project but also assist in completing the number of projects within particular time frame (Martinelli and Milosevic, 2016). In this context, detailed information about modern developments in project management and their implication in future projects are depicted in below: Developing an effective procedural documentation: It is being regarded as one of the most effective modern development which has happened in the field of project management. This approach entails that before working on any project managers should prepare some set procedure and should make documentation of the same. With the help of procedural documents managers can gain number of benefits such as unity among project team, reduces paperwork, record for future reference and conflict minimization etc. These all benefits will assist project manager in the task of managing their complex and non-traditional projects in an effectual manner. In this context, it is examined that complex projects have the features like uncertain scope and requirements etc. Thus, by making use of procedural documentation managers can prepare prior plans in relation to the same (Padalkar and Gopinath, 2016). Thus, it is by complying with the given type of activity only effectiveness of the projects taken in futu re can be enhanced. Continuous improvement: It is being considered as one of the most popular technique of quality management and thus now it is gaining importance in project management area also. This method depict that making improvement in particular task is not the one time effort but an ongoing activity. This approach helps firm in maintaining their competitiveness in a highly competitive environment. In future it has positive implication because with the help of this project manager can deal with the risk like scope creep. It is the type of risk wherein the client present its additional requirement at the stage in where project is about to complete or ready for delivery. By making use of continuous improvement, project manager can assess the area where additional requirement from client can be added. This lead to the client satisfaction and thus resulted in the form of increased profits and sales. Competency models: This model is the replacement of project manager job description. By making use of this model number of skills can be identified which are needed in order to enhance the performance of project manager at present as well as in future (Portny, 2017). Herein, with the help of this technique information about soft and hard skills needed among project manager can be assessed (Ravindranath, 2016). Leadership, communication, conflict management and creativity are some type of soft skills. On making use of these skills project managers can deal with the number of problems which tend to occur in front of them. Thus, it is through this way only managers can enhance their efficiency of delivering high quality services to client in future. Capacity planning: This approach gives information to company about the capacity which they hold in relation to new project. In other words, with the help of capacity planning project manager can identify that whether new project work can be accomplished with existing resources or not. This method assists project managers in terms of making viable decision about their work in future in an effectual way. However, it can be evaluated that these all modern developments have limitation of time consumption. This is due to the fact that in order to prepare all types of plans project managers will require sufficient time which they always lack (Pinto and Winch, 2016). But, still use of these developments will have positive implication on future project work. Actions to be taken to ensure the success of project In order to ensure the success of project in future following actions assessed which can be used by project managers. Managing conflict at initial phase: It has been seen that while doing any big task managers go through with different type of conflicts which arises due to many issues. Thus, in order to manage the same managers can use conflict management techniques and thus can take action against all the aspects which may affect the final result of project (Zwikael, 2016). To make use of risk management: Number of risk occurs at different stage of project. Thus, in order to ensure success of project it is required by managers that they should take help from risk management techniques. This will improve quality of final project also. Preventive measures for ensuring viability and completion of project It is suggested to the managers that they should make use of technique such as CPM (Critical Path Method). This approach showcase shortest path for completing project. Thus, with the help of this project managers can complete their work in specified time frame (Nicholas and Steyn, 2017). To check the viability of project, managers can take assistance from varied experts and thus can make a decision of working on particular project or not. Conclusion From the whole report it can be summarized that the future of project management is safe due to the presence of different developments that are happening in respective field. Moreover, in future project managers have a base of taking viable and effective decision about their taken work. Thus, it will lead business in profit making direction. References Asadi, Z., (2015). An investigation of risk management strategies in projects. Marketing and Branding Research, pp. 89-100. Carvalho, M. M. D., and Junior, R. R (2015). Impact of risk management on project performance: the importance of soft skills. International Journal of Production Research, 53(2), pp. 321-340. Kerzner, H. (2017).Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. John Wiley Sons. Kerzner, H., (2010). The Future of Project Management. International Institute of Learning, pp. 1135-1165. Leimbach, T., Goodall, J. B. (2017). The relation between project management education and newer streams in project management research. InFuture of Project Management, pp. 65-74. Martinelli, R. J., Milosevic, D. Z. (2016).Project management toolbox: tools and techniques for the practicing project manager. John Wiley Sons. McMahon, P. E. (2016).Virtual project management: software solutions for today and the future. CRC Press. Nicholas, J. M., Steyn, H. (2017).Project management for engineering, business and technology. Taylor Francis. Padalkar, M., Gopinath, S. (2016). Six decades of project management research: Thematic trends and future opportunities.International Journal of Project Management,34(7), 1305-1321. Pinto, J. K., Winch, G. (2016). The unsettling of settled science: The past and future of the management of projects.International Journal of Project Management,34(2), 237-245. Portny, S. E. (2017).Project management for dummies. John Wiley Sons. Ravindranath, S. (2016). Soft Skills in Project Management: a Review. The IUP Journal of Soft Skills, pp. 1-25. Zwikael, O. (2016). International journal of project management special issue on project benefit management. Quotes About Risk Management. (2017). [Online]. Available through: https://www.goodreads.com/quotes/tag/risk-management. [Accessed on 19th September 2017].