The manner in which an organization or project team is structured can have a great impact on determining a project’s success or failure. Likewise, the culture of an organization can either help or hinder project success. Understanding the strengths and weaknesses of different project management structures, how organizational culture affects those structures, and selecting the right structure for the project help the project manager start with a solid foundation for project success. The project management structures examined in this unit are the following: Functional Matrix Projectized Dedicated The matrix structure is further divided into the weak, balanced, and strong. Describe your current or former work organization. Does the organization operate under 1 of the project management structures? Discuss how well-suited this structure was for what the organization was trying to achieve.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
I've given answers basing on two companies, you may choose which ever you like.
General Electric (GE), where I was used to working as a management trainee for Human Resources, is the firm I'd like to discuss. In this paper, I'd want to talk about GE's organizational structure, which was the matrix. GE is recognized for its wide range of companies. Throughout the corporation, the firm employed the same basic structure, with five functional managers reporting to one general manager, who was overseen by a Director. GE's groupings, divisions, and departments were organized into a matrix. GE used to assign projects as objectives and assemble a cross-functional team of personnel from several divisions to work on the project on a temporary basis. Because the team could commit all of their time to a project, it gave them the freedom to react swiftly to a client's requirement. The team members may return to their respective departments or join a new project team after the project is completed.
I discovered that the matrix for organizational form or project management structures had assisted GE in effectively preparing a person to lead a large, diverse group, especially when there are so many complicated and competing interests. For the firm to run well, it must be balanced. I saw that the matrix's project form structure has an advantage over the traditional functional or product structure in that it allows for quicker management responses to changing market and technological demands. The managers think in terms of a matrix that diagnoses prevents, and treats dangers that are identified during operations. I witnessed how the organization was able to develop a collaborative atmosphere with adequate power and responsibility distribution, proper information systems, the planning and budgeting process, the PMS, and so on by adopting a matrix structure. The advantage of matrix architectures is that, unlike vertical silos, the reporting route is dynamic. In GE, the matrix reporting structure forced divisional executives to report directly to their divisional business leadership, with little influence from corporate functional leadership, which I found offered strong operational impact and speedier decision-making. At GE, each individual gained collaborative abilities to share authority throughout the company, resulting in group activities being harmonized and coordinated. GE's human resources played a critical role in realizing the advantages of the matrix organizational structure. As a trainee, I saw that the majority of HR policies are in accordance with the matrix organization structure. The department's main aim was to ensure that rules did not promote biased behaviors that distorted cooperative conduct. I may infer that GE was able to decentralize authority and effectively execute projects by building a cross-functional team by adopting a matrix structure. Employees are highly motivated since they are never given the same task again and are constantly faced with new difficulties that help them improve. The matrix structure has aided GE in its expansion.
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