Vendor Management IT Management Process Research Paper
- Length: 15 pages
- Sources: 15
- Subject: Business - Management
- Type: Research Paper
- Paper: #57673057
Excerpt from Research Paper :
In this regard, a project manager must have a follow-up on facilities development in order to ascertain success.
Strategic Planning and Project Programming
A good strategic plan shapes programming of essential capital projects in an organization. Market demands and resource constrictions impede the success of the projects. The programming activities linked with planning, and other management functions establishes the priorities and time required for completion of various projects to achieve the goals of the organization (Bruhn et al., 2007). Managers make such a decision while initiating a project and market fluctuations may determine the success or fate of the completion. Among the different projects influenced by market fluctuations is the construction project. If the organization fails to hit the market, it may short-live the demands for the products. With the current trend in both local and global markets, there is intensive competition. However, only the technology intensive organizations succeed in marketing for their products. In essence, it plays a larger role not only in procurement management, but also in marketing organizational products. However, some managers may overlook planning and feasibility studies because they consider them expensive. Invariably, if there are any changes that alter the scope of the project, this increases the costs incurred. In this regard, the organization requires a system that guarantees personnel are accountable for their actions. In addition, the it trend adopted by the organization ascertains that the models used in evaluating the resources required are accurate and efficient for the project. Furthermore, when the estimates of the project exceed the budgeted resources, managers use the it services, for instance, computers in identifying the errors committed. If there any errors identified, managers attribute this to the uncertainties intrinsic in the projects. This compels the project managers to increase the duration of time set for the project in order to revise the entire process. Insufficient planning and poor practical studies may be the cause of unsuccessful projects (Aucoin 2009). Early business premises face diverse challenges caused by premature planning of it services adopted by the organization solves the problem. Project managers hold the basis to the success of projects because any decision they initiate at the onset of a project determines progression. The plan and project decisions will affect the operating costs in progress and revenues accrued. Therefore, managers should have the competence of expertise to offer sufficient planning and viable studies. In addition, organizations must create a good relationship with the external consultants enable their success. The response between the organization and the outside consultants is mainly through telecommunication networks. If there is communication breakdown, the company lacks the significance of consultants and investors.
In earlier times, reaching out to external environments was difficult because of unstructured ways of communication and marketing. Recently, organizations realize the significance of establishing viable communication network and marketing strategies. Even among those vendors that embrace the traditional ways of communication and marketing, they acknowledge the new trend of marketing for their products. Most of them regard the new trend as less costly because of less time used in covering a large market. In essence, they accept the efficiency of having it procurement services in a business premise.
The current trend encounters numerous risks that stems from different sources and often entails many contributors in the project. Most of the project participants precisely, the workforce are the major stakeholders in the organization have a tendency of minimizing the risks at their own capacity. This mostly happens when they realize that the errors committed reflect their own undertakings. In the process of trying to minimize the risks, they put organizational projects on a detrimental state. Any changes or attempts to alter the scope of the project are reflected in the computers. Most of the computers have software that limits the responsibilities of the workforce. Only the assigned personnel have the ability of moderating the plan. In essence, such persons hold the key to particular assignments through appropriate contractual agreement with the management. It is at this point when the significance of Human resource manager becomes significant.
During the recruitment process, the Human resources manager explains to the employees their roles in their respective allotments. Failure to acknowledge and stick to their responsibilities often results to an undesirable outcome. In this regard, organizations have contingency plans that deal with unforeseen events. Any attempt by the employees to alter the scope of their job descriptions or assigned task is reflected by the level of productivity. In recent years, organizations acknowledge the trend of "risk sharing/risk assignment.
Organizations accept using such a concept because it identifies the responsibilities of both the organization and other participants in the project. This new concept falls within the it procurement trend and minimizes the risks involved in the organization. Both managers and the workforce are accountable for their own actions. However, there are uncertainties involved while undertaking some projects. In this regard, managers become liable for any perceived risks involved. They offer incentives to employees as a way of motivating them, for instance, offering bonus and other privileges. The compliance of employees to accept risks often reflects their proficient competence and their aptitude to risk.
Individuals perception of the potential risks involved in a risk-taking project may drive them away from accepting the risk. This is because most organizations deny the liability of putting their employees on danger when indulging them in risky projects. There are numerous risks involved while undertaking various projects and activities in the working environment. They include;
Public safety regulation
Exchange rate instability
a. Contractual relationship
b. Approaches of Labor force
c. Communication breakdown
a. Design assumption
b. Environmental conditions
c. Work processes
d. Work occupational safety
The environmental protection agency contributes to the ambiguities encountered because they are unaware of the project requirements and the time it takes before obtaining approval. The prerequisites of continued review of challenges and absence of perfect criteria that are feasible results to added costs incurred. Public safety regulations present related effects mostly in projects that involve coal mining and nuclear power plants.
With ineffective regulations, there is a new aspect of uncertainties experienced, which makes it hard to schedule and accomplish the work within the financial plans (Armenakis et al., 2009). However, with the new trend in information systems, the situation is constantly experiencing shifting guidelines for the persons involved. The project is also moving through effective procedures of planning to construction. In addition, past economic conditions reinforces the aspect of uncertainty with exaggerated inflation and high interest rates. Furthermore, inadequate control of financial institutions generates unexpected problems that affect management of finances set for construction purposes. Organizations should either mitigate or eliminate uncertainties that stem from regulatory movements, environments aspects and financial problems.
A Project manager focuses in achieving a breakthrough that cuts down the cost budgeted for the completion of the project and mitigate the time wasted. A manager seldom plans for such a breakthrough. They occur when there is presence of appropriate conditions, for instance, when there is innovation or when the organization acknowledges the importance of HRM. However, adoption of a new trend in an organization is a bureaucratic process. Some people will accept the effects generated by the trend while others reject the trend (Burke, 2008).
In this case, the management team has to clarify the significance of absorbing the new trend and the effects associated with the trend. In addition, employees must be ready to acknowledge the impacts of the new technology and wait for their repercussions. There are numerous risks associated with adoption of a new trend particularly if the trend influences productivity. Adoption of it procurement services means that all the processes involved in procuring resources and raw materials required by the management are electronically recorded. This means that eliminating the paper work task is costly and organizations must report a sound financial plan before introducing the trend (Burke, 2008).
Most organizations prefer applying it services in conducting most of its operations. It services play a significant role, especially during economic expansion periods. When companies are experiencing tremendous capital expenditures, the financial transactions involved are high. There is a need to control the inflow and outflow of costs incurred and accrued. Prior to adoption of the new trends, most organizations used fixed price contracts. This passed unforeseen risks to consultants who elevated their prices in order to counterbalance the unforeseen risks. Even though the organizations shifted the liability to other parties, this was unnecessary because there was mismanagement of resources (Amis & Trevor, 2008).
The paper work was unreliable because some pertinent information pertaining to management of finances was left out deliberately. With the adoption of it trends, every detail pertaining to the welfare of the organization is reflected electronically, and auditing becomes easier. In essence, problems related to business relationships may seem needless, but they are real.…