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15 Great Ways Project Management Can Help Your Growing Business

Project Management Assignment Help

❶When you undertake a project, you have to map out how formal the meeting of the theme will be and the nature of the meeting, whether it will be virtual, in person or both. You can refer to Cardiff University, UK website to learn more about project management and its framework.

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Moving the entire existing plant to new premises so that to provide the social relaxation to the local community around the existing premises and to increase the productivity and profitability of the company. The plan takes care of all deliverables and it makes sure that the deliverables should be achieved within the scheduled time and budget. Reason behind the project. The factory is now in the middle of a housing estate and it does not have room to expand. The local people are regularly and bitterly complaining about the noise, dust, fumes and other pollution generated by the factory.

There is also a great noise and air pollution of articulated and heavy lorries, who try to reach the site through residential areas. Also the company wants to expand itself for more production purposes so that the profitability increases, but due to residential areas around, the company is unable to do so.

It is assumed that if in any case the project sponsors quit in the middle of the project or the project goes out of the budget, then company can take loans from the banks or the private financial bodies. Finance can also be provided by its customers on request or by selling its public shares. Difficulty in transferring the experienced production staff, because they are already settled and the present location of company suits them, so we might loose some experienced staff.

In order to retain those experienced staff, the company needs to provide them with incentives, more salary and even new houses to those employees who are very important for the company. This increases the cost of the project. Recruitment of new staff: It cannot be assumed that all production staff will transfer, so company should be ready to recruit the new production staff.

The employees who go redundant the company needs to give them full packages and pension so as to avoid the strike. Close the entire plant and move everything to the new location which is 70 miles away, next to the FS Plc.

Purchase the houses near around the company and expand the current existing premises over that purchased area. Bring the new technology into the existing factory , Automated Technology which creates a very less air and noise pollution , additionally their efficiency is very high, which in turn increases the productivity rate of the company. The Company is intended to close and move the entire plant, but not at one move.

The old existing location is free now and the planning can be taken to build the housing unit on the premises. The company has enough time to handle its employees. All financial as well as non financial benefits have been obtained. Employees have been given more time, and the employees who are in doubt of transferring can test their stay in new location for certain period of time.

The supply cannot be continued during that time, because of unavailability of work. It is difficult to handle the existing employees who are not willing to go or who are made redundant. The raw material cannot be taken for some time by the company because of no availability of area which may loose the supplier.

Although productivity rate is increased, but not too much extent, because a time can come in future when company needs more machines for increasing productivity and there will no space for expansion, so in future the company can fall into the same position. Replacing the old machines with automated technology make old machines redundant, thus a great financial loss can happen.

Pollution can be controlled but up to some extent and the lorries still are still giving pollution. The public gets disturbed due to working of company.

There is more overhead required during that stage, because raw materials should be available at both sides and also the profits are taken from both sides.

It increases the overall budget and time of the project. However this option requires more overhead and time but company has enough resources and time to handle this problem. Recruit a new staff and allot them their responsibilities for the smooth working of the project. The proposed and structured organization is shown below.

The Managing director selects project manager and clearly explains his and his team members roles and responsibilities for the completion of project. Manager is needed for the managing whole project. The manager should know about construction, how to pass tenders and making the contract.

Previous experience is needed in managing the new construction sites, managing the contracts, passing tenders, all leadership, managerial skills are required and at least one year experience of change management is necessary.

He manages all his team members and reports updates of the project to his MD. By implementing a simple form of Project Estimation you can easily understand a projects impact on resource capability and its impact financially on your operating budgets. Gain a better understanding of your true Resource Capability Resource Capability Planning is one of the key success factors for any business which delivers projects or services.

With Resource Capability Planning your business has the power to analyze the impact of delivering projects and services on resource capability in real time, enabling you to better manage customer expectations, improve overall business productivity, exceed customer service level agreements and reduce costs.

Ensure you select and prioritize the right projects Project prioritization is beneficial to any organization independent of shape, size of focus, as it enables you to prioritize project related work against each other to define a sensible, optimized order of work. In fact it is an essential process for any growing business, as making use of your scarcest resources to maximize benefit while removing project failures is without doubt a huge challenge and one which can provide the greatest benefit.

Project Selection and prioritization will enable you to quickly and easily assess the potential return of your project investments versus the resource and expenditure demands and potential risk. Plan Projects in a clear and consistent manner To guarantee the successful delivery of any project, a period of planning is required before the project commences.

Project Planning provides a simple, easy method to help your business effectively plan the tasks, activities, roles, responsibilities and deliverables required by each project. By planning projects in a clear and consistent method, Project Planning helps avoid the disappointment of failed and overdue projects by reducing risk and providing exact timings and decisions points which help ensure projects are delivered on-time and to budget.

Optimize your resource usage Resource Scheduling provides an essential component for establishing the feasibility of your project plans and for setting realistic customer expectations. By scheduling resources before projects commence, your project managers will be able to assess the flexibility they have over the use of specific resources, align tasks and work packages with resource availability, and where resources are unavailable and delays are not an option, project managers can consider alternative approaches, tradeoffs or the re-prioritization of work.

For businesses with less structured or more volatile resourcing requirements, resource scheduling provides the ability to optimize resource utilization levels and increase revenue by providing the ability to quickly assign best fit available resources based on skills, experience and location, to efficiently fulfill resource requests and to manage out resource conflicts. Gain real time visibility in the status of deliverables Effectively managing project deliverables is important for any organization, independent of size or focus, in fact, this is especially important for small or growing businesses with less mature project management processes where there is no formal process of defining business cases or the benefits associated with each project.

Deliverables are different to project milestones in that they represent the quantifiable goods or services produced as the result of a project. Whether tangible or intangible, by managing your project deliverables executives will gain real time visibility into the status of each deliverable and a clear overview of how the business will profit or benefit from each project. However, the project budget is an essential tool for measuring the performance and progress of any project.

This is where project management software excels, enabling you to create project budgets directly from project plans or from your project estimates. In addition project management software will ensure you can monitor budget, versus actual versus planned to ensure you have an accurate picture of your current budget and future financial projections in real time. Improve Product and Service Delivery Every business requires an effective toolkit to successfully manage the delivery of the products or services they deliver.

Project management software provides your project managers with the tools required to lead their team and to implement an effective strategy to bring your products to fruition. Your clients will benefit in the knowledge that their input has a direct effect on the project delivery process and your workers will benefit from having a clear understanding of their stake in the project and their role in its delivery. The beauty of managing projects in a fully integrated solution is its flexibility; if you discover a smarter direction, project management tools provide you with the flexibility to take it.

Encourage and Facilitate Team Collaboration Throughout humanity, people have historically recognized that working together can accomplish more. However, many businesses ignore this fact and continually allow individuals to pursue their own objectives which are loosely tied to project or organizational objectives. Project Collaboration software eliminates this, by providing your business with an ideal platform to encourage your project team members to work in synergy and share knowledge throughout the project management process.

With each team member making an individual contribution towards a common goal your business will quickly benefit from greater innovation, better problem solving, greater efficiency in project delivery and a reduction in the cost and impact of absent resources.

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Project Management coursework Sample Question: You are hired as a project manager by Fuel System Plc, the company is moving the entire existing plant to new premises so that to provide the social relaxation to the local community around the existing premises and to increase the productivity and profitability of the company.

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