Pala Din Inc. Project Management Case Study

Pages: 13 (4175 words)  ·  Style: Harvard  ·  Bibliography Sources: 8  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business - Management

SAMPLE EXCERPT . . .
Recommendations

After evaluating these risks, few back up strategies have been devised accordingly. First and foremost, as a primary foundation of project management, planning and budgeting need to be performed in the preliminary phase. Also, the inherent risks to the current situation should be analyzed and are addressed as per last planner model. A new method, often called Last Planner, to cope with the situation met in construction production control, has been developed by Ballard (2000) since 1992. The method has emerged in an inductive manner from a series of industrial experiments (Ballard and Howell, 1998). Considering this theory, following remedial actions are suggested considering that the risks have materialized.

a) In case where outdoor shoots are not permitted by the city government which will be known to the production team in next three working days, the in-house studio of Paladin Inc. will be used for the coming three shoots. In order to add surprise element to these episodes, some of the shooting will be conducted at the residences of the guests and the participants or other locations as suggested by them. Considering the planning timeline, after three working days, the planning and other necessary communication can be performed in next two working days. The outline for this plan has been already shared with the board of directors.

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b) Where Natasha Sharma fails to show her consent within next three working days, the offer made t her will be already null and void, since the format of the program demands an Asian representation, one of the Asian actor Rajesh Kutharpali, can be contacted for a single episode. Overall time demands, that shooting one episode takes five working days. Rajesh is already working in another project of Paladin Inc. And is currently under contract. Therefore, he will be readily available in case the board of directors gives permission.

Case Study on Pala Din Inc. Project Management Assignment

c) The PR Team must be provided with the necessary budget. The team head has been already given a deadline to share the marketing plan in next two working days and commence the marketing activities within seven working days after this submission. Also, the progress of the marketing team is required to be shared with the Project Management team on bi-monthly basis.

While addressing these issues, the concept of Management-as-planning and Management-as-organizing, are used to mitigate all these risks in the planning phase.

Resource Risks

Resource risks refer to the absence of the necessary resources required for the execution of the project. These risks can be of financial nature as well as human resources a swell. In the current state of the project, the equipments required during production have been outsourced by the specialized supplier named as "Shooting Specialists Inc.." The costing has not been received by the team and therefore cannot be incorporated in the project budget. Also, the PR team has not shared the requisition of the project required by it. The equipments have been received and have been used for the preliminary shoots. However, at more than three occasions, the equipments have malfunctioned.

As of now, the production has already started its activities and has hired a team of freelancers who will be working on 35% of the visual effects of the overall show and will be fully responsible for the editing after the shoot has been completed. Considering these risks, one can consider them risks of mild nature if the variance between the costing given above is less than 8%. More than that will declare the project to have signification risks faced during its execution.

For addressing these risks, Strategic Management Theory has been used. For the purpose of this report, an extension of this theory is used which is known as Research-based view. RBV is based on an assumption that every entrepreneur has its own set of skills and assets which provides it with differential advantage (Barney & Hesterly, 1996). Because of the specialized nature of this industry, this approach has a special significance (Chan-Olmsted). 'In a content analysis of media strategy research, Chan-Olmsted (2003a) identified an even split between the SCP and RBV approaches in Strategic Management research on media companies.

Recommendations

The recommendation given below are devised after evaluating the above mentioned scenarios in the light of concepts of execution and control of project management theory and referring them to the strategic management and RBV concepts.

Since the vendor has failed to provide the necessary costing even after four written reminders and the equipments provided are faulty, therefore it is suggested that another vendor should be hired with immediate effect. For the purpose of this hiring, recommended vendors names have been already shared with the procurement department. In the meanwhile, necessary equipments have been taken from another project of Paladin Inc. named as "Poor Uma." The show is almost completed and in its editing phase. However, the equipments borrowed cannot be used in the longer run as "Real Life-Real Faces" is a fashion-based show and the equipments required for it must of high resolution. Therefore, necessary equipments must be provided in the next three days.

Secondly, it is necessary that the vendors must be hired so that Production Team can design its budget accordingly and submit it to the board of directors. As mentioned above, the budget needed by the production team is USD 0.9 Million other than the costs of cast finalized. Variances in this cost is acceptable up to the level of 8% dependent on the exact costing shared by the planning and procurement department after hiring the new vendor for the equipments. Up to this variance, the risk faced is of mild nature. Above that it is not acceptable and may turn out to be severe.

Timing Risks

Timing and scheduling are the fundamental success factors for any project. Other than budgeting and scope, the third dimension playing substantial role in defining the direction of the project. Considering the current state of the project, there are various factors which can lead affect the over scheduling of the project.

The project needs to be completed by the production team by 23rd June, 2013. For this purpose, the production activity must be commenced at 23rd April, 2013. However, the current status of the project defines that they are legal formalities t be met, cast and budget to be finalized, and marketing activities to be commenced. All these factors in their individual capacity have a tendency of impacting the overall scheduling of the project.

In addition to that, the overall project performance is still in the form of monthly targets as decided by the board of directors and the departmental heads. However, considering the strict deadline that has been given to the respective department, time management is an aspect of this project which cannot be neglected or underestimated. Since, the deadline is given in the form of monthly targets to every department, therefore, as per the estimated schedule which has been shared with the board of directors in the last email; the deviation of five working days is acceptable without missing the deadlines. Other than that, the risk will reach a severe level and will affect the overall progress of the project.

Recommendations

While evaluating the impact of miscalculation of time or missed deadlines, we have used all three aspects of Management theory ie. planning, execution and control. Using these concepts, all the teams i.e. Marketing, Production, Editing, Visual Effects and Legal Department, are required to present their planning in the form of a Gantt chart. Gantt chart is a tool which not only allows performing planning at micro as well as macro level but is also used during the execution of the project and act as a control tool as well since it refers to the deviation from the standard performance expected at a particular time frame.

While evaluating risks that may arise in this case, the corrective actions are suggested in the light of thermostat model. The thermostat model is the cybernetic model of management control that consists of the following elements: there is a standard of performance; performance is measured at the output; the possible variance between the standard and the measured value is used for correcting the process so that the standard can be reached (Koskela, 2000).

Since the contingencies that might appear at individual departmental level have been already considered therefore it is necessary that all the remedial actions must be taken in the e planning phase and also deviations from the Gantt chart performance must be addressed in timely fashion and reported to the management as well.

Strategic Risks

Strategic risks have a potential of reshaping the overall performance of a project. Now that we have completed more than 80% of our planning and have already started shooting. The market intelligence has reported that the rival channel DEF Entertainment is also launching a similar kind of show. The show has a format quite similar to "Real Life-Real Faces" and is also a small scale project with a dedicated team. Since, there launch date is… [END OF PREVIEW] . . . READ MORE

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