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Construction Project Risk Management Research Paper

… Construction Project Risk Management

Risk management is the process of identification, assessment and prioritization of risk to minimize uncertainties within a project lifecycle. Risk management is a management tool aiming to identify the risks and uncertainties as well as determining the impact and develops appropriate management responses to manage the risks. A systematic approach to manage the risks is to divide the risks into risk identification, risk analysis and risk response. However, risk response is divided into further actions, which include reduction, retention, transfer and avoidance. Contrary to other industry, construction industry is characterized with more risks due to the unique features associated to construction activities and complicated process surrounding the construction project. (Zou, Zhang, Wang, 2010).

Construction projects are categorized as very complex projects…. [read more]


Management Development Techniques All Business Term Paper

… Evidently, the management may be said to be effective if there is satisfactory performance of the workers, as well as, of the management processes of the organization. The authors advance four roles that performance management will play in streamlining management. First, it would streamline strategy. It would also develop the instruments, which will be embraced in estimating the performance of the business. The approach will also play a role in interpreting the performance results, and finally encourage top management on the need to respond to the issues that negatively affected the performance of an organizational management system (Smith & Goddard, 2002).

Finally, Kirsch (1996) advances another management development technique, which may be embraced by organizations. This approach according to the author is applied in the…. [read more]


Project Management Organizational Structures Essay

… It also calls for effective communication, effort of managers in the planning process, vertically and horizontally oriented managers should be enthusiastic for resource negotiation, and the horizontal lines to be allowed to function as a separate entity (Davies, & Hobday, 2005).

Matrix organizational structure has the capability of providing rapid response to conflict, changes, and the other needs of the project. Conflict does not occur in many cases, but those that come in to existence are easily resolved by use of hierarchical referral. Nearly all the demerits of traditional structure are cancelled because of the profusion of matrix structure advantages. The most popular organizational structure for project management is the functional organization suitable for small-sized companies. All the sections are geographically close together and provide…. [read more]


Project Management Emerging Markets Continue Essay

… This also allows flexibility in respect to overall consumer trends. With a matrix organizational structure, a particular region can quickly and efficiently address varying consumer tastes within that region. As I will show with my McDonalds example later in the document, the entire organization did not have to change its product offering which would have been detrimental to the entire business. Instead, only the Indian region was to change which allowed flexibility within the overall scope of the McDonalds franchise. Below are many multinational structures and how they are defined. It's important for the project manager in the digital age to understand organizational structure so as to determine his best approach to leadership and success.

1. Ethnocentric. An ethnocentric mind-set is one primarily based on…. [read more]


Using Fuzzy Logic for Scheduling Multiple Chapters

… 315). Even when executives make the effort to plan their projects carefully, they may overlook the most important ones in their attempt to organize all of the enterprise's projects in a cohesive fashion. In this regard, Dinsmore and Cabanis-Brown point out that, "Most executives are aware of the need for drastic change in multiproject management practices, but many place the emphasis in the wrong place. Unfortunately, a great deal of such investment is misdirected into multiyear efforts to implement software tools and time sheets before dealing with the highest leverage points" (2011, p. 315).

There are three discrete roles that organizations must formally define in order to develop an effective project portfolio management system as follows:

1. Governance: This executive role is one of decision…. [read more]


Quality Management a Comparison Research Paper

… Volkswagen and Toyota are the world's largest automaker. Ford must compete against these companies.

Ford gained competitive advantage by changing their image. They are not only known as the American car, which was great domestically, however not for global competition. Ford is now known as the eco-friendly automaker. The company focuses on environmental friendly cars, and cultural values. Ford has executives assigned in different parts of the world that understand the cultures and change business process to adapt to cultural practices. Ford can compete globally because they have plants located throughout the world. They are able to employ local people to build their cars, making the people feel as though Ford is a part of their country as well. Ford has also maintained competitive advantage…. [read more]


Agile vs Traditional Project Management Comparative Essay

… This would make project execution much simpler.

Managing Project Execution


Conventional/ traditional project execution puts emphasis on ensuring that the initial plan for the project is executed as is and that it is strictly monitored and any variations fixed. Variations from the initial plan are undesired unless they are approved through a formalized change management system. Monitoring is, therefore, very important in traditional project management. A traditional-style project manager would typically monitor progress, quality, effort, and cost. Most importantly, they would monitor the milestones and whether they are being met. Monitoring these many things would typically be time-consuming and very difficult especially in big projects (Fitsilis, 2008). For instance, in a dam construction project managed in the waterfall style, the project manager would have to…. [read more]


Applied Management and Decision Sciences Thesis

… ¶ … management and decision sciences from various theorists; and, analyzes the evolution of managerial decision making from scientific management to the complicated forecasting models used today. The objectives of the Breadth component were four-fold: (a) to examine the theories of applied management and decision sciences as interpreted by the research of Ducker (1974), Harrison (1975), and others as listed in the reference section; (b) to analyze the historic evolution of decision making from scientific management to modern applications of operations research; (c) to examine the decision making process, with a particular emphasis on the importance of values and management judgment; and (d) to describe, assess, and evaluate various decision evaluation tools including matrix analysis, influence diagrams, payoff matrices, sensitivity analysis, decision tree, probabilistic forecasting,…. [read more]


Management Philosophies Samsung Group Essay

… Another article by Kamii & Ewing (1996), states that it is impossible for learners to establish high levels of relationships with what they observe unless they incorporate certain levels of knowledge to it. According to Kamii & Ewing (1996), cooperative learning methodology brings great maintenance of material and an increase in the transfer of learning. Jean Piaget insisted that constructivism would advance to other philosophical theories because the ideas are innovative and concepts can change with time.

Narrative

The article by Ruth-Sahd is about social collectivism. The article bases on concepts of observation in a nursing clinical setting. The article also incorporates personal experiences of nurses. Observation and personal experiences help nurses in learn of effective management practices that will help them in their nursing…. [read more]


Project Management: How Scope, Time, and Cost Research Paper

… Project Management: How Scope, Time, and Cost Work Together to Define a Project

Managing a project can mean everything from the initial idea stage all the way through to the finished product. With that in mind, it is very important to understand what goes into the project, and how it should be guided from one phase to the next. For those who plan projects and manage them, that guidance is vital to make sure the project stays on track (Cattani, et al., 2011). Often, projects end up failing not because they were bad ideas or because they would not have been valuable, but because they are mis-managed (Nokes, 2007). That can start to be a problem from the very beginning, or it can be something…. [read more]


Portfolio Management Term Paper

… " Tools utilized by AAA Northern California included: (1) A Guide to the Project Management Body of Knowledge; and (2) PMI's Project Management Professional credential. The foundation of AAA Northern California portfolio management was based on the following: (1) program and project alignment with the strategic goals of the organization; (2) the enterprise's operational capacity to deliver on the projects and programs proposed; (3) the impact of change and the organization's ability to absorb the results of successful execution of the programs and project; and (4) making sure the organization realizes the promised benefits to the organization of strategic investments. Coordination of available resources resulted in the ability to make the determination of projects that were higher in priority and return and to allocate the…. [read more]


Management Philosophy Management's Principal Characteristic Essay

… These management philosophies are different from the management approach proposed by He (2011). He (2011) identifies the Chinese approach based on the Confucian Philosophy, which identifies that the key idea is the achievement of strategic alignment. The philosophy especially identifies the creation of alignment between individual's behavior and organizational strategy. This is different from other management philosophies for He (2011) proposes that teamwork is essential in creating individual drive in the larger organization, which is part of Confucian values. The article identifies that this management philosophy follows Confucian values, which make the heart of management strategies for Chinese companies in the Silicon Valley. The article finds from the analysis of case studies that the alignment of management strategies with Confucian values has led to the…. [read more]


Project Management Theories Traditional Term Paper

… Project Management Theories

Traditional theories on project management state that projects should follow a sequence of steps referring to initiation, planning and design, execution and construction, monitoring and controlling, and the completion of the project. However, projects in certain fields cannot follow each of these steps. Therefore, these requirements are modified in accordance with the characteristics and objectives of each project. The traditional approach to project management has determined numerous theories that have been developed in order to satisfy the needs of different projects.

The critical chain project theory refers to the resources required for project management, rather than on its stages. This approach requires the experience of professionals in different fields. This theory is derived from the theory of constraints. In comparison with other…. [read more]


Traditional Project Management Research Paper

… Traditional Project Management

Please write on: Traditional Project Management techniques have been shown to be less effective in when used on new product development projects. What, according to Belassi et al.(2006) explains this phenomenon?

In the study New product development projects: The effects of organizational culture (Belassi, Kondra, Tukel, 2007) the authors illustrate through an empirical analysis of which aspects in an organizations' culture benefit New Product Development (NPD) the most and least why traditional project management techniques are marginally effective. Throughout the detailed analysis the authors find the three critical success factors of work environment, management leadership and results orientation as being essential for any NPD strategy to succeed (Belassi, Kondra, Tukel, 2007). Their contention is that traditional project management techniques do not take…. [read more]


Management Theories and Philosophies Term Paper

… Management Theories and Philosophies

Royalco Resources Limited (Royalco) has been engaged in the management of the resources based on the royalties and the exploration of mineral tenements that are located in the UK. The business established in the year 1929 to manufactured the mining appliances for diverse mines around the United Kingdom. Royalco Resources Limited survived the world war through numerous recessions (Boyett & Boyett, 1998-page 34). The organizations adopted the hybrid of the classically and scientifically managed the theory for a couple of years, this has been proved to be successful with the popular processes that have not yielded the growth of reputation through the surrounding areas. The financial rewards are perfect as the workers provide the efforts through the achievements of the endeavors.…. [read more]


Management Styles Different Management Styles Exist Article Review

… Management Styles

Different management styles exist and are in use, with the most common in use today being Management by Objectives (MBO). Bell, Bodie & Fulk (2011) in their research article on MBO and its role in developing team performance. The article explores different theories in literature on MBO and team management in improving performance. They identify that MBO improves organizational performance, if management can understand its principles. First, MBO is founded on communication between employee and manager. Secondly, management and employee jointly create goals, which direct employees' efforts, and form the basis for evaluation. Thirdly, goal setting involves employee participation, and must be specific in nature to direct efforts to achievement of higher organizational goals. Fourthly, management enhances ability of employees to accomplish goals…. [read more]


Project Management Term Paper

… While on the surface, it would be easy to point blame on the project members who were responsible for the mix up in the case, ultimately it is the project manager's responsibility to address many of these quality concerns. In this case, the project manager quickly recognized their role transgression and worked to address the issue without any blame placed on the subordinates.

How does verification/validation and change control support quality in an IT project?

Verification and validation are useful tools to support quality control in any IT project. This shifts the testing process from the end of the development process as it is commonly found, to an ongoing process that can instituted whenever a task changes hands. For example, using verification and validation, once…. [read more]


Project Management for an Experienced Essay

… Generally, open negotiation consisting of several rounds following an initial evaluation of potential contractors and suppliers is recommended, as this tends to yield the best available price from the most reliable contractors or suppliers. A determination cannot be made in this case, however, as for certain needs and processes a closed-bidding or other procurement process might be best (Bower, 2003). This organization is more than capable of advising on general and specific procurement processes once further discussion of your needs has been carried out.

Contract Elements and Termination

Specific parts of procurement contracts that should be included with your suppliers and other contracted parties as a part of this project include, as mentioned above, penalties for time delays and budget overruns, and these should be…. [read more]


Management Organizational Structure Essay

… This form of organizational structure can be observed in various departmentalization discussed in this paper. Brews and Tucci (2004) explains that the strategic business units can be created basing on geographical lines or product lines. In the figure 4, the strategic business unit is based on geographical area.

Conclusion

Organizational structure as explained by Brews and Tucci (2004) is the way the organization is organized according to leadership of the organization. There are several factors that determine the structure of the organization; they include size, industry and objective of the organization. Accordingly, there are several organizational structures that can be formed. They include divisional organizational structure, which have several departmentalizations, which allows the organization to be divided in small management units depending on their functions…. [read more]


Management and Supervision in Social Work Term Paper

… Management & Supervision in Social Work

The team of Alfred Kadushin and Daniel Harkness has published a book titled Supervision in Social Work, which has a number of key ideas and strategies about the leadership needed by supervisors and management in social work. This paper reviews and critiques that book as well as an excellent book by author Donna Hardina, an Empowering Approach to Managing Social Service Organizations.

Supervision in Social Work -- an Overview

This book embraces a wide variety of subjects that are germane to social work and to the leadership / supervision required to provide the best possible services to clients, and the best possible working conditions in the office. It begins with a historical overview of the field of social work,…. [read more]


Management Principles Management Leadership Model Term Paper

… There is a pre-assumption that the leader's traits existed before leadership and most of them failed to approach the study of personality. Several studies aiming at identifying some of the leadership traits reveal that most of the traits were unimportant compared to other traits (Dereli, 2007). In this context, some scholars have argued that the failure to outline leadership traits should account to the lack of measurement and comparison of data from the many studies conducted. Some of the recent studies utilized measurement procedures focusing on managers and leaders.

Behavioral Theories of Leadership

The lack of tracing important leadership traits urged scholars to explore the behaviors exhibited by specific leaders. Behavioral studies of leadership primarily aim at identifying behaviors that distinguish leaders from non-leaders. These…. [read more]


Management Accounting Essay

… " (Islam and Ariful, nd) Still yet, other reports are stated to be such that conduct analysis on a "developing business situation or opportunity." (Islam and Ariful, nd) Management accounting as compared to financial accounting according to John Lewis companies is that while financial accounting is considered mandatory, management accounting is considered optional by most companies. John Lewis Company states in relation to management accounting that it is "inconceivable that a large company could operate without sophisticated management accounting systems." (Islam and Ariful, nd)

Management accounting is stated by John Lewis Company to operate upon a lack of general principles as management accounting systems and measurement rules are often unique and company-specific. Management accounting is reported by John Lewis Company to be "forward-looking and to…. [read more]


Project Management, Sustainability and Whole Research Paper

… This level of clearly defined accountability is crucial to maintaining scope control throughout the duration of a project which may span multiple decades, because it allows stakeholders and participants to effectively measure progress across a wide range of project parameters.

Targeted Use of Project Metrics to Measure Success and/or Failure

One of the most reliable ways to ensure that the boundaries of project scope are adhered to is the development and implementation of precise project metrics through which relative success/failure ratios can be accurately assessed. Proper project management practices involve the establishment of a series of increasingly difficult goals to guide the project to its most efficient form of completion, and a number of distinct metrics are used to gauge the extent to which these…. [read more]


Stake Holder Management Article Review

… Stakeholder Management

Assessment and Summary of Project Stakeholder Management

Assessing the relative contributions and roles of stakeholders while also determining the best possible strategies for enabling higher levels of stakeholder trust is one of the many findings from the study Project Stakeholder Management (Karlsen, 2002). The author has completed an empirical study of project management professionals in his native nation of Norway, relying on a stratified sample of industries as the sampling frame. His methodology is based on a series of hypotheses centered on the creation of a new methodology for stakeholder management. Using a 5-point Likert Scale to measure stakeholder influence and perception of collaboration including trust across stakeholders by industries, the researcher creates a foundation for their defined stakeholder management process. This approach…. [read more]


Benchmarking Project Benchmarking Different Industries Essay

… , 2007).

For some projects it is difficult to find a source to use as a benchmark; especially for large-scale development projects. Due to high level of risk associated with large-scale development projects, the traditional risk management approach, which assumes that risk can be predicted and budgeted early on, is not adequate for application in the context of these projects because each large-scale project has a high level of uniqueness that renders benchmarks from databases generated out of previous projects obsolete (Baydoun, 2010). Therefore risk management systems are difficult to benchmark and must be handled in more of a reactive approach that attempts to streamline the response to the various risks that can emerge as opposed to being able to proactively identify all of the…. [read more]


Westower Communications IT Project Management Essay

… Controlling the scope of any project is essential if the inevitable changes which tend to occur are to be predicted, adapted to, and mitigated (Marchewka, 2009). One of the most overlooked aspects of scope control is the regular improvement of user input, because ultimately it is the user who will levy the final verdict of success or failure for any given IT project. Fostering a genuine sense of cooperative collaboration between the employees working on a project and the users who will be receiving the finished product -- in this case, communication towers personnel for Sprint, AT&T and T-Mobile -- is the mark of a competent and qualified project manager, because when users are encouraged to contribute to the process of developing a product, the…. [read more]


Management at Sun Microsystems Term Paper

… ¶ … Management of Sun Microsystems

Sun has become synonymous with intelligent, rapid innovation and the ability to translate complex requirements into financially successful products, which is what Oracle found so valuable in acquiring the company in 2010 (Veverka, 2010). The culture of Sun Microsystems is highly engineering-centric, and as a result, senior management, engineering, product development, sales and service all rely heavily on quantify performance for each process and strategy implemented. The key success factors for Sun Microsystems' products and services divisions have traditionally focused on attracting, retaining and growing key engineering and development professionals as the primary priority. Second, Sun continually pursues greater agility and speed of innovation with extensions to existing products and the development of entirely new ones. Third, Sun's direction…. [read more]


Restoration Project Office Renovation Essay

… Furthermore, recent studies have indicated the of the PMBOK Guide's nine Knowledge Areas that risk planning is among the top that have the greatest impact upon effective project management (Zwikael, 2009). Since this project is technically challenging and there are potentially many obstacles that the construction crews could encounter, it is reasonable to suspect that a detailed risk management plan may be of vital importance to the project.



In order to prepare a comprehensive risk management plan the literature was surveyed for information about best practices. For complex construction projects such as this, it is critical that the project manager prepare a detailed risk management plan that depicts all of the various risks identified by the relevant project stakeholders. Some of the…. [read more]


Portfolio Management Involves Managing Several Projects Essay

… ¶ … portfolio management involves managing several projects each with an aim of maximizing the profits for the organization as you keep the expenditure to the possible minimums. Many organizations have discovered the pros of managing their projects in relation to other departments of the organization instead of treating each project as an isolated unit. There is a growing interdependence of projects in many organizations and the treatment of project-by-project where the Net Profit Value (NPV) was looked into before picking out one project to pursue is dying out.

While the previous method considered the projects to be independent of each other and that the projects had not tight relationship or common factors with the other activities of the organization, the current trend assumes that…. [read more]


Management Control Essay

… These involve seamless integration and top-notch performance from all our divisions. It is in this way that connectivity to strategic initiatives in all departments of the company from Finance to HR is integrated and working well. Goals for all departments must be SMART (specific, measurable, acceptable, realistic, and time-bound) with standards and weights accorded to goals as well as measurable outcome, with the brunt of our objective of these goals, outcome, and activity focused on inter and intra-communication. To that end, each division must have his specific goals outlined in specific terms. They must be measurable and acceptable not only to the ends of the specific division but to the ends of the organization as a whole. They must be realistic fulfilling the division's sub-goal…. [read more]

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