Challenges Addressed by Project Management

Discuss about the Key Observations for Six Sigma Implementation.

To establish a successful operation on any business innovation plays an important part for improving the processes and operations of the company. Different organizations responds to all the challenges that comes to them by all the processes that are involved in the system (Schwalbe 2015). The challenges are addressed by implementing project management in the organization. The projects that are planned concretely generally reduces the risks as well as the challenges that is faced by the organization. Most important that is in the project management is the project methodology that helps to solve all the processes in a synchronized order.

A Project Management Methodology (PMM) is required in a project for setting up guiding principles as well as processes for a project management (Binder 2016). The methodology that selected for a company basically defines how the company works and how the communication is done in between the team members of the project. PMM helps to complete the project in a systematic, theoretical, as well as structured way and the methods that are involved in PMM helps in successful delivery of the project (JOSEPH et al. 2018). Different organizations choose different PMM for meeting their goals. As the goals of different organizations are different from each other, the project management methodology that is chosen by different organization also varies.

This essay details the project management methodology that are used in different organization in different ways. This essay consists of three organizations of three different sectors that needs project management to be implemented in their working process. As the goals of different organization are different from each other, the methodology will also be different from each other. This essay illustrates a PMM for each of the organizations stated helps to manage all the processes in the organization. The project management methodologies provide many advantages in managing the projects in an organization. By implementing a correct project management methodology, helps to complete a particular project with the assumed time. It also reduces the risks involved in a project. The project management methodologies that are used for three given organization are stated below.

Organization A that is given in this case is a manufacturing company that produces high technology and high volume of memory chips. The company has 2100 employees working in the company with its headquarter in USA (Martinelli and Milosevic 2016). The objective of the company is to expand markets in North as well as in South America. The main goal of the organization is setting up sales and setting up marketing division and establishing low cost as well as high technology plant manufacturing (Verzuh 2015).  Currently the company is working with 2100 employees for setting up all the operations in the organization. For implementing a project methodology, the organization can speed up their operations as well as processes and can do all the processes at lower cost.

Project Management Methodologies and Their Advantages

The project management implementation that is implemented for this particular organization A is for activity management level. This is because the decision of the management will help to expand the business in the North and the South America (Turner 2016). The choice of project management that is to be taken for a particular project is different from other projects. The main aim of the project manager is to make the correct choice of the methodology which suites the projects the most.

The methodology that is suggested for this manufacturing organization is the PMBOK (Project Management Body of Knowledge). The PMBOK methodology is basically a standard for American National Standard Institute that was invented by the institute of project management (Refer to Figure 1 in Appendix). This methodology or the body of knowledge generally divides a particular project into five phases for completing the project successfully with better implementation. The PMBOK divides a project in five different process that includes the initiating the project, planning with the project, executing the project, controlling as well as closing the project (Nicholas and Steyn 2017). As the company deals with project in making high technology memory chips, modernized process are to be involved in completing the project successfully. To complete the project successfully, the PMBOK method is suggested for this organization. As the PMBOK methodology is a project management technique suggested according to American Standard, so the local where the organization is located will have an idea about the standard of this method and will make the implementation process easier.

The PMBOK methodology can be implemented within the manufacturing organization in the following way.

The first phase is the initiation phase (Ptak and Schragenheim 2016). All the requirements of the projects are gathered in the initiation phase that are related with the manufacturing industry. A plan used for setting up the sales and the marketing division within the organization are also prepared in the phase of initialization.

Second is the planning phase. In the planning phase, the project plan is generally made including the project team, schedule estimation and resource allocation pf the project.

Next comes the execution phase (Stark 2015). The execution phase deals with implementation of project with setting up the project at a low cost manufacturing.

The second last phase is the closing phase. In the closing phase, the project is delivered to the client with the scheduled cost and the estimated time (Fuller et al. 2017).

Organization A: Manufacturing Company

The last phase that is involved with the PMBOK methodology is maintaining the project and have regular inspection for eliminating the probability of failure in the project.

The project can be implemented as per the implementation plan of PMBOK. There are many advantages that the PMBOK method provides to make the project successful. One significant advantage that the PMBOK offers can with the implementation of the project management the projects can be governed and the chances of project failure becomes less (Brioso 2015). Project implementation and project governance of PMBOK methodology is done in a controlled environment. The cost of implementing the projects with the PMBOK methodology is less as well compared to other project management methodologies. The implementation of the PMBOK methodology helps the project to be completed with less amount of money.

There are certain assumptions that are to be taken while implementing the PMBOK methodology (Karaman and Kurt 2015). The team member of the manufacturing company should have a clear knowledge about the project while implementing the PMBOK methodology. In PMBOK methodology, the requirements of the projects should be defined clearly before starting the project at the initiation phase. In PMBOK there is no chance of changing the requirement after the project is started. The scope of the project cannot be changed once the project is implemented.

The issues that the PMBOK methodology incorporates is that there are some specific rules that are to be used while implementing the project and so this methodology cannot be used in all projects. This methodology is to be include with the organization that have proper knowledge as well as experience in using this methodology (Jamali and Oveisi 2016). Another issue that is included with the PMBOK implementation is that there is no changing scope of the requirement after the project is started. The scope of the project is to be defined at the starting of the project.

The PMBOK methodology provides many advantages for adopting the methodology in a particular project. The PMBOK methodology ensures delivery of the project at scheduled time. The scheduled time delivery is possible because of the there is no change in the project when the project is already started. So, the manufacturing organization A can use PMBOK methodology without any problem.

The organization that is described as an organization B is a construction company. This construction company works mainly for the projects in the European Government. This company mainly deals with government infrastructure projects (Richter 2015). This is basically a small sized construction company with 300 employees working for the company. This construction company is located in Paris, France. The motive of this company is to increase their infrastructure projects that are to be undertaken by the company basically in Europe. The management team of the company wants to increase their business by taking more infrastructure projects but also fears that the company might not fulfill the requirements of the projects and may also not complete the project within the assigned estimated cost. With the increasing number of projects, the management fears that there may be a financial risks in company (Kaczorek, Krzemi?ski and Ibadov 2017). To avoid this situation, the company wants to implement a project management methodology in the company. There should be good project methodology that should be implemented in the company that is capable of mitigating the risks of the projects and maintains the financial risks in the project.

PMBOK Methodology Implementation for Organization A

To maintain the finance of the company is the work of management in that company. as this construction company is a small sized company, the director in the organization wants to implement a methodology that helps to reduce financial risks in the organization. The project management methodology that is to be involved in the project should address all the issues related with construction process.

The methodology that is recommended for this construction company is the PRINCE 2 methodology (Refer to Figure 2 in Appendix). The PRINCE 2 methodology is considered to be a comprehensive methodology for managing the risks involved in the organization. The project is basically done in a controlled environment that involved the PRINCE 2 methodology for monitoring the risks and reduces probability of risks in the project. A proper body of governance is to be implemented in the project for mitigating the financial risks in the company (Yamami et al.  2017). The organization is suggested to implement PRINCE 2 methodology to mitigate the financial risks in the organization. The PRINCE 2 methodology is basically an approach based methodology, which provides tailored as well as easy version of the project implementation.

There are seven process that are involved in the PRINCE 2 methodology to make the monitoring of the processes easier and reducing the risks that are associated with the organization (Vargas 2016). There is a controlling phase in the PRINCE 2 methodology that establishes proper governance of the project to mitigate the risks in the project. Meetings are also held on a regular basis to mitigate the issues in different processes and the risks of the project can also be discussed.

When the PRINCE 2 methodology is suggested for the construction, there should be certain assumptions that are to be kept in mind while implementing the methodology in the organization B. The employees should have a detailed knowledge about the project methodology (Parra et al. 2016). If the employee or the worker does not have any experience about dealing the PRINCE 2 methodology, that particular worker should be given proper training to carry out the process involved with the methodology.

The PRINCE 2 methodology is appropriate for using in the construction process of organization B. The method of PRINCE 2 firstly identifies the project viability before going on the next step. So, it becomes easy to identify as well as mitigate the risks involved with that project.

Issues and Assumptions for Implementation of PMBOK Methodology

With the use of PRINCE 2 methodology, there may arise some issues in the construction process if this methodology is implemented in organization B. The problems that are associated with PRINCE 2 methodology includes that the project phase of this methodology are basically lengthy that makes the project difficult to handle (Juricek 2014). In this project management methodology, the change management is very difficult to maintain. The changes that are implemented in the project later after the initiation phase are difficult ti manage. Detailed documentation are also to be made in PRINCE 2 methodology for which extra time is required for completing the project.

The PRINCE 2 methodology offers number of advantages from which the organization gets benefitted. The PRINCE 2 methodology is a perfect methodology to maintain the risk associated with the organization (Hughes et al. 2016). This methodology is plan as well as process based approach and all the processes can be governed effectively in this project. PRINCE 2 methodology helps the construction company to focus on proper development of product. The objective of the organization is to increase the number of projects and mitigate all the risks related with those project. For this, PRINCE 2 methodology is the best methodology in project methodology that can be implemented.

The organization that is given in Organization C deals with financial services and products of different companies. This financial organization is a well-established company started almost 11 years before (Jovanovic, Mesquida and Mas 2015). This company works with 800 employees and it is basically a successful model of business that deals with financial service and products. The management of this organization just wants to improve the working of the company and enhance the delivery capabilities of the project. The manger wants a team who are organized with highly energized, enthusiasm, and should have high motivation power. By doing this, the manager wants to take the business process to a good position. The project manager therefore wants a project management that will help to improve the business processes.

The main goal of the finance organization is to improve the process of the organization. The best methodology that can be implemented to improve the working of the organization is the Six Sigma methodology (Refer to Figure 3 in Appendix). This methodology can be implemented on the entire process. The inventor of the Six Sigma methodology is the Motorola Company (Jesus et al. 2015). Motorola invented the Six Sigma methodology to make their product as originally specific all through the design as well as delivery of the project phase. Six Sigma methodology is quality control process, which focusses to gather the data for the improvement of the project process. This methodology helps to increase efficiency of the project, increase the productivity, as well as deliver the final product to customer efficiently. The Six Sigma methodology mainly consists of five processes that helps to get the project done efficiently. The five steps are explained below.

Organization B: Construction Company

Firstly, the customer needs are defined and the needs are identified by understanding the requirement of the customer (Knapp 2015).

The performance of all the processes involved are checked in the next phase. This is basically done by creating proper metrics. The mangers involved with the project can easily determines how the needs of the customer can fulfilled.

The following step is to analyze the requirement of the client as well as the common problems that are related to the project for the cause of improving the project.

In last step, the results are mainly synergized for the manager to know about changes that are project dealt with.

Along with all the advantages, the Six Sigma methodology also involves some issues that are to be mitigated by the financial organization. In six sigma methodology, there is a lack of leadership commitment and execution is sometimes improper that results in project risks as well. By implementing the Six Sigma methodology, the project takes time to get completed (Pyzdek and Keller 2014). These drawbacks can be mitigated by doing research on the methodology and then providing training to all the employees associated with the organization to understand the methodology correctly.

There are many advantages that the Six Sigma methodology provides in the financial project that helps to improve the processes in business. The Six Sigma methodology helps to make the management between the customer and the organization. The Six Sigma methodology helps to improve the processes in the organization. So, the Six Sigma methodology that is suggested for this financial organization will help to improve the processes in the organization.

Conclusion

From the above discussion, it can be concluded that project mnagemnet methodologies helps to make a system or an organization to work more efficiently and helps in successful delivering of the project. The three organizations that are stated in this essay deals with three different project management methodologies. The organization A that deals with the technological service of manufacturing memory chip is suggested to have a PMBOK methodology that helps to increase the efficiency of the organization. The PMBOK methodology also helps to lower the cost of managing the tasks in the business process. Organization B that deals with construction process is suggested to have PRINCE 2 methodology. The PRINCE 2 methodology helps to mitigate all the risks that are involved in the organization and the organization C that deals with financial service is recommended to use Six Sigma methodology for improving the processes involved in the organization. All the methodologies helps to increase the efficiency of the organization by mitigating their risks.

PRINCE 2 Methodology Implementation for Organization B

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