Week 1 Written Assignment|
In Partial fulfillment for MS Operations and Project Management| 1-14-2012|
Name and briefly describe the primary goals of a project?
According to Figure 1-1 of our text book, the three primary goals of a project are: 1) Performance: One has to ask themselves during a project if you have met the objectives of the project. Performance can be measured by evaluating the processes such as scope verification, quality planning, quality assurance, and quality control. The initial performance goals should be outlined in the initial Scope of Work. 2) Time: All projects will have a deadline, whether it is tied to an event (e.g. Olympics) or an arbitrary deadline set by the stakeholders. Whether it is arbitrary or related to a significant event, completing the project within the deadline is always the objective. 3) Cost: It is important to remain within the budgeted amount for a project. A Project Manager must not over extend themselves on the resources available. Along with the primary goals of a project our text states a Project Manager has ancillary goals which “include improving the organizations project management competency and methods, increasing individual’s managerial experience through project management, gaining a foothold in a new market and similar goals.”(Meredith and Mantel, 2012) Meredith, J. & Mantel, S. (2012). Project Management: A managerial approach. Hoboken, NJ: John Wiley and Sons. Discuss the advantages, disadvantages and limitations of project management. Project Management has many advantages for an organization. Along with the tools that project management provides, it can improve” an organization’s ability to plan, execute, and control the performance of activities and the utilization of resources when doing non-routine work.” (Meredith and Mantel, 2012) At the same time a company can “experience better control and better customer relations” (Meredith and Mantel, 2012). Project management also fosters a team environment allowing for better decision making and ideas to be floated around, finding the optimal solution. This will result in an organization that can have new products or services developed in a shorter amount of time, lower costs, increased quality which might result in better profit margins. (Meredith and Mantel, 2012) While there are many advantages to project management there are some disadvantages as well. According to the text, some disadvantages of project management are the organization will see an increase in organizational complexity and the possibility of organizational policies being violated due to the autonomy a project manager has. At the same time some organizations stated they “have higher costs, more management difficulties, and low personnel utilization.” (Meredith and Mantel, 2012) Project Management also has its limitations. One of the glaring limitations our text states is the actual creation of a project might make an organization’s managers feel they cannot accomplish their goals through the “functional organization”. Another limitation is the project manager rarely has the authority needed to garner the necessary resources and must rely on a managers “good will” (Meredith and Mantel, 2012) While there are disadvantages and limitations to project management it is an important part of business and can be successful if the project manager is properly trained and has the backing of the organization. Projects will fail if they do not have the proper resources available and the support of management. Meredith, J. & Mantel, S. (2012). Project Management: A managerial approach. Hoboken, NJ: John Wiley and Sons.
Briefly describe the seven (7) main characteristics of a project (include an important feature of each). A projects characteristic according to the project management guide is “temporary – temporary means that every project has a definite beginning and a...