MANAGING PROJECTS

Managing Projects



Managing Projects

Section 1

Project management is an approach of organizing a business from the start to finish. The project can be divided into lots or sub-projects or projects in order to obtain subsets whose complexity is easier to control. The division also allows the project to proceed more easily with its planning. The conduct of the project is generally assigned to a project manager or project coordinator.

Project management is the application of knowledge, expertise, tools and techniques for planning activities to meet or exceed the needs and expectations of direct participants of a project.

Principles of Project Management

Analysis of the situation

Goal setting and performance indicators.

The preparation of the structure of division of labor.

Optimal use of resources (technical evaluation and review of programs).

Clarifying the responsibilities of each task.

Implementation & the settings to optimize results.

On the basis of the overview of the project management selection criteria, there are factors that were identified by the authors that could have a positive impact on the project. Since the financial returns from Six Sigma projects determine the success and failure of the Six Sigma program for an organization's lean management process to a large extent, the following factors were identified by the authors as desirable while selecting the projects that have a high probability of success that include waste reduction potential, increasing customer-centricity, improvement in work flows, user complaint reduction potential, scope for cycle time reduction, scope for method simplification, scope for process reengineering (Gido 1999, pp. 1). In addition, the following factors are identified as having an impact on successful execution of the projects at the functional level, process mapping, asset availability, transparency of information, availability of a good measurement system, clearly defined deliverables, availability of innovative and qualified people, deployment of adequate financial resources, presence of top management commitment and presence of good communication system are the basis for the innovation in the project management (David 2006, p. 5).

Effective project management is the main reason behind the success of any progress. Typically, the effective conduct of a project can be summed up in the search for the maximization of the quality, control limits, control of costs. Similarly, the effective project management at all levels of the organization demands a high level of trust, honesty, integrity etc. The people involved in the project management team must possess high levels of skills and abilities. The reason is that until unless there is no cohesiveness among the members of the project management team, the maximum result cannot be derived, no matter there is a excess financial resources or not.

Section 2

Lean production is an important concept in the operations management which involves the methodology of assembly line which is important for the manufacturing, it is also known as the Toyota Production System or just-in-time production. Furthermore, the lean manufacturing of the Aston Martin is also involved in the just in time inventory but the major difference in the production is based on their target market. Many industries, including car industry, have adopted the principles ...