Lessons Learnt in Project Management - 3415 Words

Introduction Lessons learned in Project Management In good project management, it is very important that the project manager with the help of the project team capture and document for historical reference the experiences encountered during the course of carrying out a project. These experiences whether positive or negative or from past or present projects, are very vital to process maturity and improvement and are hence incorporated into future project management procedures.[6] This idea of project management via lessons learned/ past experience tool is very vital to the success of a company or organisation with regards to the performance of present and most importantly future projects. This is because it helps many project managers across†¦show more content†¦This is due to the fact that corporate memories are often very short and an individual’s memory can be highly selective. Hence, the major cornerstones of events within a project can be focused upon, but the underlying reasons for these events completely forgotte n. Therefore a formal collection of lessons learnt in the course of a project, by the project manager and the project team, is a vital activity in administrative closure.[9] Goals Of A Lessons Learned Process The project manager and project team’s goals, when carrying out lessons learnt sessions, at the end of a project, include ensuring that the outcome is knowledge sharing and positive impact on future projects. The goal should also be to create a positive environment which is blame free and participants can be honest about the setbacks encountered in the course of the project. The project review process should also aim at balancing the amount of precious people-time utilised, to the returns of this time investment on project team and organisation as a whole. This process should also have a goal of being able to set out pliable tools and methods for various project teams sizes to effectively analyse project occurrences and hence implement a cause of action forShow MoreRelatedThe Rock-n-Bands Case Analysis: Identifying the Simulating Issues1663 Words   |  7 PagesThe Rock-n-Bands Case Analysis Identifying simulating issues In the project analysis of Rock-n-Bands simulation, the task is to design a project which will coordinate a music festival. However, the project has some interference such as limited resource and short periods of time. The entire project has to go on for a maximum of ten weeks, with a limited number of five workers every week. Many aspects of the project have to be considered, but the fundamental aspects include; abstaining from anyRead MoreCourse Management : Personal Reflection908 Words   |  4 PagesMoodle Course Management System– Personal Reflection Part 1: My Contributions to the Project The purpose of the project was to build a Course Management System to help teachers design courses online, manage the activities in the course and effectively communicate with students in their class and collaborate with them in the course. I performed the role of a business analyst. As a business analyst, I had to understand the process of course management, how it has been handled till date in theRead MoreCase Study: The Global Economy1802 Words   |  7 Pagesimportance of cost estimation and cost control for many project organizations? The global economy has greatly changed project management strategies for many project since it had created barriers and challenges and also made project management easier in other aspects. First is that globalization has led to decreased trade barriers between countries which allows for sourcing of raw materials in a cost effective manner which allows projects to run smoothly. Secondly, globalization has led to market-drivenRead MoreManaging Budget Project Management At University764 Words   |  4 PagesHowever, from my own experience in risk management, we had fully planned for the event but always there are things that happen and you do not expect it, in the event day the internet at university was down and we couldn’t print out all materials that needed for the event so one of the group member went home and printed the bit missing .In addition , I’ve learnt from this is to print every thing and be ready one day before the event to avoid any delay that can happen . 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The second level of employees to be considers is the departmental leadership. AS workshop meant

The International Labour Organisation ( Ilo ) - 1104 Words

Responsible sourcing is a universal method to the sustainable evaluation of materials. This is an environmental, economical and social way of obtaining construction supplies such as concrete. Responsible sourcing is a progressively imperative factor for specifiers and clients in the construction commerce. The idea first industrialized in fair trade of food products and fair employment conditions for production of consumer goods. The International Labour Organisation (ILO) was founded in 1919 to be accountable for drawing up and supervising international labour standards. Responsible sourcing adds to this by involving other environmental, social and economic characteristics of sustainability. The UK government spearheads in this aspect of†¦show more content†¦There is an agenda for the organisational authority and supply chain management and this must be adopted clearly by all companies. It can be assumed that responsible sourcing can be a very crucial factor that contributes towards construction and civil engineering as concrete is used in almost all projects. This is why it is paramount to produce this concrete from trusted sources. Hence â€Å"89% of all concrete in 2012 was certified to BES 6001 and of the production tonnage certified, 99% has achieved Very Good or Excellent performance rating.† As sustainability is a key world issue now, it is important to keep in mind where companies produce their resources. If concrete was not responsibly sourced then a lot of unwanted issues could arise. For example it could lead to the concrete not being of the same quality as a responsibly sourced one. Also it may increase the carbon footprint and cause global warming if responsibly sourcing was avoided to keep costs low. Although the short-term effects of using cheap concrete is good the long-term effects of responsibly sourced concrete outweighs this. In their an alysis Georgopoulos and Minson (2014, p. 129) say, â€Å"The UK concrete industry is supporting the BES 6001 as it is the most comprehensive standard available and measures the whole infrastructure of the supply chain†. It is not easy for companies to be certified by this and they have to meet certain requirements, which includes having a

Business Policy and Strategy

Question: Discuss about the Business Policy and Strategy. Answer: The benefit of strategic management in decision making. Strategic management is the process of making company goals on a long-term basis, depending on the position one expects the company to be in the future. By the fact that the process is influenced by the business activities; then it also impacts decision making in the business. The main advantage of strategic management in decision-making is that it helps one narrow down to the best and wise decision. This is achieved by the fact that strategic management gives on the visualization of the future, and without clear goals, in the future, all ideas seem to make the best outcome. For instance, the type of projects to invest in will depend allot on the expected financial position to the companys future. Staffing strengths and two examples of staffing weaknesses Staffing is the recruitment, selecting, developing and training employees in an organization. It mostly deals which person is best for appraisal or particular department instead of the current working position of the employee (Tanova, C, 110 (2003). Strengths It helps in building a healthy workforce that has the maximum ability to perform and produce quality output. Mostly on the technical part like accounting and technology departments where it was difficult to source the best personnel. Staffing improves the morale and job satisfaction of the employees; this is achieved through the training, promotion and the compensation aspects done by the organization, which in turn develops the feeling that employees are appreciated in accordance with their effort. Weakness The fact that it uses seniority as a way to categories the staffs for promoting, to which even inefficient employees get promoted too many senior positions, which can damage the companys prospects The staffing process blocks new and original ideas from new staff members with experience from gaining access into the organization, this probability blocks the company from diverse ways of doing things, yet there is a chance to improve. Market penetration: This is the activity or process that company employees so as to introduce a new product in the market or increase the market share of a particular product. For example the Coca-Cola company, which tries to increase its market share by developing new products like the coke zero soda, also by intense promotion and marketing. For instance how they associate Coca-Cola with Christmas (Arkolakis, C.,1160, 2010.) Market development This is the strategy of developing new markets for particular products by targeting new customers, in a particular region. For example adding new features to the existing product, and having deferent quality levels in the market depending on the buying power of the target market. A good example of such is the Samsung smartphones where the company improved the RAM and the processor of the current phones, and by that, they were able to win more customers. Product development: this is the rebranding of the introduction of a new product from an existing company. This is arrived at on the basis of customer needs, the nature of the market and the kind of competition from other players in the industry. For example, the banking sector which has switched more into the money transfer system using your phone, to transact and withdraw money from the bank accounts. A functional or divisional structure management The functional structure means that the reporting relationship towards the top manager of the organization is split based on their functions areas, while the division structure the organization functions are split according to the service line, product or the market base. It is more of a specialized division than a functional structure. As for me, the functional structure is the best to implement because, it is cheap compared to division structure, as it lowers the reputation of resources and also the structure maximizes the functional performance all through because all the human skills and knowledge are all concentrated to one working subdivision in the business setup. Therefore harvesting all the possible potential without duplication of the limited resources (Miles, R and Snow, C. 45, 1984) Developing a code of business conduct The code of conduct in business is a management tool used to set out the expected values, responsibilities and the ethical obligations of a company of business. The code is important as it helps employees to handle ethical dilemmas while working for the organization and also have in mind the expectations of the company while delegating their responsibilities. The answer to the question is that I would implement a code of business conduct in reference to the compliance to the legal regulations, personal responsibilities, the projected management support, and the company values on the day to day activate (Kaptein, and Schwartz, 115, 2008) Reference Kaptein, M. and Schwartz, M.S., 2008. The effectiveness of business codes: A critical examination of existing studies and the development of an integrated research model. Journal of Business Ethics, 77(2), pp.111-127. Miles, R.E. and Snow, C.C., 1984. Designing strategic human resources systems. Organizational Dynamics, 13(1), pp.36-52. Tanova, C. (2003). Firm size and recruitment: staffing practices in small and large organizations in North Cyprus. Career Development International, 8(2), 107-114. Maurer, I., 2010. How to build trust in inter-organizational projects: The impact of project staffing and project rewards on the formation of trust, knowledge acquisition and product innovation. International Journal of Project Management, 28(7), pp.629-637. Arkolakis, C., 2010. Market penetration costs and the new consumers margin in international trade. Journal of political economy, 118(6), pp.1151-1199.