• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Project planning and control methods

Extracts from this document...

Introduction

Project planning and control methods came to be in the 1980s with the introduction of microcomputer software. In the 1990s project management was accepted into the mainstream business as a means for developing new products and services. In the 20th century project management appears to be the solution to many of the challenges confronting global business enterprises (Gray, C. & Larson, E., 2003). Trends such as the globalization of business operations increase in mega mergers and acquisitions, increased focus on results, need for speed in delivery, and pressure for accountability have fueled a growth in project management activities across the organization. Traditional organizations are undergoing significant changes, which are being driven by the advances that information technology is bringing to the business world (Gray, C. & Larson, E., 2003). Project management must include management of product life cycle. Gray and Larson states that the shortening of the product life cycle is perhaps the most enormous force driving changes in the process of managing projects. The average life cycle of all products 50 years ago was in the neighborhood of 15 to 20 years. Now it is estimated that the life cycle for all products is three years. High-technology firm executives estimate that the average life cycle of products to be six months. Short life-cycles increase the number of projects an organization will have to handle simultaneously. ...read more.

Middle

Furthermore, if one partner has a dominant equity position over the other, than a competitive alliance is also desired. A cooperative alliance is preferred when partners have similar technologies or know-how and contribute equally. Alliances combining same value-chain activities which complement talents and share the same degree of risk also prefer a cooperative alliance over competitive. Whether projects are domestic or global in outlook, there are competitive risks involved. This risk results from the changes in the competitive environment. When a project is global, the project manager may not be able to develop a complete understanding of the foreign markets. It is important to remember the strength of cultures and traditions that shape and differentiate the nation's society. Failure to learn the unique features of the foreign competitive environment may result in failure to identify potential risk that could have a serious impact on the project success. Global projects have rewards to be gained but these must be weighed against the risk that might incur. Domestic products are not exposed to as much competitive risk. They do not need an additional due diligence in assessing market potential nor additional costs of reducing and managing risk; however, neither do they have access to the potentially high rewards from a successful global strategy. The biggest obstacle that project managers must endure when managing a project across multiple ethnic backgrounds is culture. ...read more.

Conclusion

www.globalsavvy.com There are three challenges in managing a remote team: poor communication between team members, poor management/leadership, and lack of support and direction for member of the team. These three challenges indicate the importance of leadership role when managing a virtual remote team. When team members do not work in close proximity building trust among them is difficult. Some essential recommendations for managing a virtual remote team are to: * Have face-to-face meeting at key times * Have a clear agenda and document actions * Focus on team member similarities * Communicate regularly * Give performance feedback Because leaders/managers can not see team members, it is easy to forget that people are working in context that are different and that they might have different support needs, resources, and demands. There exists a wide array of challenges involving project management with members of a different ethnic or cultural background. Environmental, political, legal, economic, and cultural differences can act as barriers towards completing projects. Due to these factors, it becomes extremely important for the project manager to step in and make an assessment of its team member's ability to communicate effectively across cultural boundaries. A look into past performance reviews as to how well they work within a team constraint and possible work issues with other employees, should information on potential conflicts that may arise. Project managers should never just look at skill-set as the determining factor in putting together a team, because other intangibles may outweigh an individual's ability to handle the project. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE People in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE People in Business essays

  1. Rekindle the latent innovation

    This change must constantly differentiate itself vis-�-vis other companies and add extra value to the main players in the business model. One alternative is the creation of new products/services; the other is the implementation of improved, more optimal processes. Hence there are two varieties of innovation, which are, by definition, quite dissimilar.

  2. manging theories and globalization

    The second is the digital revolution, which has resulted in technological developments that have helped to transform the way in which work is carried out. According to Haque (2002, p.106) one of the most effective measures enhancing globalisation has been the internet.

  1. For this project I am asked to explore one certain company and see how ...

    Delivery This is an important feature of many marketing programmes and can ultimately be the deciding factor in the buying decision. Some people only buy certain fast foods because they provide free delivery with their service. Delivery nowadays is seen as an essential aspect in the market.

  2. Self-Efficacy Theory Explanation for the Managementof Remote Workers in Virtual Organizations

    Self-efficacy is the judgment an individual makes about his or her ability to execute a particular behavior (Bandura, 1978). According to self-efficacy theory, if organizations can learn how to increase their employees' self-efficacy judgments about their abilities to complete relevant remote work tasks, this should lead to improved performance.

  1. The background of the Kettering Park Hotel and Spa

    detailed focus, means a more focused improvement, so the S.C.H.E.R-Report is a hugely and probably most important way of measuring success, but also the most important way in how to put it right. The Park Hotel is expected to get a minimum of 80% on the report but it should

  2. Critically evaluate why so many mergers and acquisitions continue to be made when so ...

    expect the merged enterprises to be greater than the sum of its parts' (Doitte and Smith 1998). Coopers and Lybrand (1993) along with many other writers have studied and expanded on some of the key factors that limit that usefulness of M&A's.

  1. Power, Authority, Control, Obedience and Initiative in the context of IT

    The relationship between worker and manager can be characterised as one of control and obedience. The manager has control over the worker through the legitimated power that constitutes authority (Pfeffer, 1981). This authority allows the manager to subject workers to control and expect their obedience. As Pfeffer (referencing Mechanic, 1962)

  2. Enabling a Remote Workforce.

    And since every organization has their unique differences (i.e. size, industry, complexity, culture, locale), there is no single formula for such planning. However, successful telecommuting programs should address the following at a minimum: * Perform an initial assessment * Consider organizational strategy and culture * Consider the role of management * Consider the need for staff input * Determine

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work