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Project Management
A project is defined as a temporary endeavor, usually where a group of people and resources brought together to tackle a specific problem. Project management is necessary in order to ensure that the problem is solved, on time and on budget. Project management is often very task oriented, in particular placing emphasis on how to move through the different stages of the project in order to bring it to fruition. A given project will have a number of specific, finite objectives and a defined time frame. Success for the project will typically reflect whether or not the project's objectives, including that relating to the time frame, where met, which would define a successful project. If they were not met, then perhaps the project would be deemed unsuccessful (Githens, 2011). Where a project manager deals with conflict, it is usually interpersonal conflict or communication issues between members of the project team, as there is usually not competition for scarce resources.
A program is a series of projects. These projects would be managed in a way that delivers an overall set of benefits to the organization. There is a high level of coordination required in program management, because the person in charge...
There is also a likelihood that within the program some of the projects might not contribute, and it is up to the program manager to ensure that each project fits within the specific purpose of the program. Where a project manager is focused on the transactional elements of management, arguably the program manager is focused more on strategy and leadership, and coordination, as a means of guiding the organization towards its objectives. Resource allocation is a key part of this job, ensuring that each project has the resources it needs while being efficient at the same time. The program manager also has to deal with conflict between resources for different projects. Competition for scarce resources is a major source of conflict at the program level (Usmani, 2012).
In this management sense, a portfolio is a set of programs. They are usually not related. So this is more reflective of the conglomerate model of doing things. The organization seeks to succeed by having a number of unrelated businesses, rather than by having a single business. So while program management is about juggling projects to make the organization succeed, portfolio…
References
Githens, G. (2011). Eight distinctions between portfolio management & program management. Leading Strategic Initiatives. Retrieved May 17, 2015 from Discuss the definition, similarities and differences between Project Management, Program Management and Portfolio Management.
Usmani, F. (2012). Project management vs. program management vs. portfolio management. . PM Study Circle. Retrieved May 17, 2015 from http://pmstudycircle.com/2012/03/project-management-vs.-program-management-vs.-portfolio-management/
project management and inventory management are defined through real life examples and the affects of the management practices on the performance of the business is discussed. Question No. In order to design a grocery delivery business, there are several competencies that are required to be mastered to gain an edge over the competitors. The business must have a unique strategy which is based on a distinctive capability which provides the company
Supply Chain Management Hypothesis defined Concepts of SCM and the evolution to its present day form Critical factors that affect SCM Trust Information sharing and Knowledge management Culture and Belief -- impact on SCM Global environment and Supply Chain management "Social" and "soft" parameter required for SCM Uncertainties This chapter aims to give an outline and scope of the study that will be undertaken in this work. The study lays out the issues faced by manufacturing organizations when it comes
There is injustice done to the ratepayers through higher rates. Some others will benefit by the subsidized energy efficient products such as light bulbs, refrigerators, consultation services, and to cap it is argued that a utility service provider is in no position to fix the benefits as much as the customers and since it depends on many individuals and therefore the energy efficiency and the interest rates and the
Project Management Plan of a New Restaurant This project management plan is majorly concerned primarily with the first two steps which are defining the project; the project objective is broken down into a series of manageable steps called tasks and designing the project process; this work is performed by the project manager and is presented in the GANTT chart where the tasks are displayed in more detail (Hamilton, 2004). Besides, for
Project Risk Management Risks associated with projects successful completion A project is an undertaking of human beings towards satisfying world needs. Projects are endeavors with a defined beginning and an end. Projects suffer from scope, time, cost and quality constraints. It is necessary for project managers to manage the risk of developing weak scope. Scope of a project incorporates the objectives of a project, the target population, the output and impact of
Project Management Any project, no matter what the outcome is supposed to be, has to be properly managed from outset to completion to make sure that the outcome is the one desired. Without some type of plan, a project can easily become so overburdened with cost and time overruns that it is better just to abandon it and move on. The problem is though that project management often requires a large