Analyze the Plan for Potential Problems in Project Management - Paper Example

Cost- create a budget through cost estimates based on each persons job description

Quality management- putting in place performance requirements to be used as a mesure of the projects success

Procurement management

Human resource management- identifying and recruiting team members

Communication management

Analyze the plan for potential problems

Understand the context of project management

An effective manager must be able to understand challenges presented by project management. This includes understanding the organization, what might or might not affect the project and who to cooperate with. A project manager must be very perceptive to realize both the positive and negative factors that will have an effect on the project. Perception is key as it helps in preparing and planning for potential risk. To me Mike does not seem to understand the context of project management perhaps because he became a project manager by happenstance. He is a scientist and not a skilled project planner.

Understand what success means

Evaluation criteria for a successful project involve looking at the schedule, performance, budget and client satisfaction. The goal of the project is to attain a 95% yield on production. The project manager has looked at the budget (t is set at $600 per week per employee), timelines and production without taking into account the client use and satisfaction. The probability of attaining 95% yield in production is also questionable.

Understand who the stakeholders are

A realistic assessment shows that the stakeholders in this project are many including marketing, manufacturing and other agencies. The project manager must learn to juggle all the demands of the stakeholders. This high dependence on stakeholders might cause disruption especially of the project timeline

Analyze the plan for potential opportunities

Use time carefully

There are activities that can run parallel. With correct planning, this can reduce completion time. However, doing things chronologically, that is, one phase at a time might lead to an increase in completion of the project. From the director of research, Mr. Docent, this can be done. For instance, Mike can work on product specifications and regulatory documentation simultaneously

Build and maintain a cohesive team

The project just like many other projects will involve the use of cross-functional teams. It is therefore important for the project manager to foster cordial relationships with the team. Mike is a flexible leader who understands his limitations and involves the help of others. He knows the right questions to ask and who to seek help from. Mike must maintain a cohesive team from across the different departments.

Plan Plan Plan

Efficient project management means getting things right. This can be done by planning the project to include specifications of the project, team composition budget, and the schedule. This also involves doing an investigation of what the project involves as has been done by Mike. Mike has developed a plan of the project which he plans to submit to D.U Singer.

Should the executive committee approve the plan? Why or why not?

Since a value proposition of the project is not clearly defined in the plan, the committee should not approve the plan yet. Project value proposition simply shows how beneficial the product will be both to the company and to potential customers. For a successful project, value measures must be established first. Even though there are cost estimates, the revenue streams and any other benefits to the company has not been established.

What alternatives might the committee suggest for analysis?

The committee can use either a numeric or non-numeric models. Numeric models include product line extension and comparative benefit model. Non-numeric include sacred cow, Operating Necessity and Competitive Necessity. The numeric would be more appropriate for this analysis because some information on the budget has been provided.

References

Meredith, J.R. and Mantel, S.J. (2005). Project Management: A Managerial Approach. John Wiley, New York.