7 execution phase during this phase the various

Info icon This preview shows pages 264–267. Sign up to view the full content.

View Full Document Right Arrow Icon
7) Execution Phase: During this phase the various activities planned are completed as per the schedule, utilizing the allotted resources. 8) Termination Phase: This is the phase, during which the project is terminated or disbanded after completion. The personnel who were working in the project are assigned back to their regular jobs in the organization or to other projects, in this phase.
Image of page 264

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
259 21.3.6 IMPORTANT OF PROJECT MANAGEMENT: Organizations need project management because project management: 1) Ensures that customer requirements are met, 2) Eliminates duplication of work, 3) Reduces the number of tasks that could be overlooked during the project, 4) Maximize the use of resources and 5) Ensures that projects are in control both in terms of project completion time and project cost. Scheduling large, an often one-time projects is a difficult challenge to operations managers. The stakes in project management are high. Large amounts of money in cost overruns have been wasted due to poor project planning. Unnecessary delays have occurred due to poor scheduling and many firms have gone bankrupt due to poor controls. Hence, project management, which comprises of project planning, project scheduling and project controlling is of strategic importance for both manufacturing and service organizations which one time or another will take on a large and complex project. 21.3.7 PROJECT ORGANISATION Project organizations have been developed to ensure both continuity of the production system in its day to day activities and the successful completion of projects. A variety of organizational structures are used by enterprises to perform project work. The various considerations in forming a project organization are: a) Proportion of the company’s work that is performed by project. b) The scope and duration of the project. c) The capabilities of the available personnel. d) The preferences of the decision makers. There are four options available in choosing an appropriate organization for projects. Functional Organization: in functional organizations, functional departments are formed the specialize in a particular type of work such as production and sales. These functional departments often are broken into smaller units that focus on special areas within the function. Top management may divide project into work tasks and assign them to the function. Top management may divide project into work tasks and assign them to the appropriate functional units. The project is then budgeted and managed though the normal management hierarchy. Project Co-coordinator : A project may be handled though the organization as described above, except some one in appointed to co-ordinate the project. The project is still funded through the normal organization and the functional managers retain responsibility and authority to their portion of the project work. The project
Image of page 265
260 co-coordinator meets with the functional managers and provides focus and impetus for the project and may report its status to top management.
Image of page 266

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 267
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern