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Project Management
Balanced scorecard
This is a strategic planning and management system that is widely used in the industrial sector, the nonprofit organizations, in the business world and even the government in order to put the activities of the business to the strategy and the vision of the business. It is used to check whether the management and their visions and decisions are in line with the goals of the organizations and whether these visions are implemented by the employees. The balanced scorecard helps in improving the external as well as the internal communications of the organization. This also helps in monitoring the performance of the organization against the strategic goals that the organization set. The balanced scorecard also helps in increase in quality of service in the service oriented organizations and observance of procedure. These set procedures under the balanced scorecard will ensure the reduction of blame games within the organization.
The "do no harm" principle is the observance and ensuring that the particular project is not only implemented within the criteria fro effectiveness but done ins a socially responsible manner. A project cannot be considered to successful if at all it harms the employees, the society or the environment within which it was situated. A successful project is one that does no harm but instead gives positive impacts to the community and environment (Brown K.A. & Hyer N.L., 2010: Pp11).
2. Project, program and project portfolio
These are three interrelated terms that at times are used interchangeably and mistaken for the other. A project can be described as an endeavor that is temporary in nature...
There are projects that are targeted at bringing significant changes to products, processes or even services yet others are geared towards spawning events or to handle a given crisis and others to produced some desired information. Most of the projects experienced require a team that draws it membership from diverse backgrounds to execute, however, there are some projects that can be executed by an individual. Projects vary in size as some can be large and other small in scale and size.
A program on the other hand is a term used when the effort to solve a given problem or achieve targeted results includes several subprojects therein. An example of a program targeted at creating safe and clean streets within a city will have other subprojects to handle the road repairs, signage, lighting systems, street cleaning, security patrols among other subprojects hence this is considered a program. In the same city, there are bound to be other projects that are not really related to the cleaner and secure streets but contribute towards the completeness of the city, for instance the building of an entertainment spots or public library. Bundled together, this effort to run a number of projects is what would be referred to as project portfolio (Brown K.A. & Hyer N.L., 2010: Pp2-3).
3. Challenges of a project
The project that I have been involved in is the deliberate effort to ensure that the schools within the region I lived in are maintained in terms of cleanliness through collection, transportation and recycling of the solid wastes that emanate from these schools. This…
References
Bisk Education, (2014). Top 10 Project Management Challenges. Retrieved November 12, 2014 from http://www.villanovau.com/resources/project-management/top-10-challenges/#.VGVA2snSn5U
Brown K.A. & Hyer N.L., (2010). Managing Projects: A Team Based Approach. McGraw-Hill Irwin.
Balance Scorecard Applications in Healthcare Organizations Balanced Scorecard The Learning & Growth Perspective The Business Process Perspective The Financial Perspective Strategy Mapping General Perspective of Performance Management Performance Planning Ongoing Performance Feedback Employee Input Performance Evaluation & Review Performance Management in Healthcare Organizations Healthcare Organization as Learning Organization Principles of Performance Management in Healthcare Organizations Performance Measurement & Evaluation Methods Used In Healthcare Organizations Setting Up Performance Management Systems Dimensions and Approaches to Performance Management in Health Care Taken From the British National Health Service Induction Programs Performance Monitoring Personal
Strategy implementation can also be severely affected by the lack of commitment of employees of all levels. "The resistance from some employees who not yet see the big picture" can have detrimental affects on the successful implementation of strategies derived from the Balanced Scoreboard process (Berger 2009). Moreover, there are long durations between creation, implementation, and results. Long pauses in implementation can drastically lower the momentum of the entire project,
Balanced Scorecard The balanced scorecard is a managerial approach based on the principle that four different elements of a business are interrelated. Thus, to optimize one, a strategy should seek to optimize all of them. The four elements in question are the financial, the business processes, the learning & growth and the customer. If one element is prioritized in the business, then the business will be unbalanced. The businesses that thrive
Yet upon closer inspection these two ideas are connected by the reality that strategy must be implemented; a task achieved by project managers throughout the value chain. Likewise, the human capital of the project managers must be accounted for by management in creation of a strategy framework. The BSC connects these elements by: Providing the discipline to ensure that the formulated strategy has specific objectives for shareholders and customers, an
Project Management Emerging markets continue to be a promising area for many of America's most beloved companies such as Coca-Cola, Apple and more. This bodes well for project managers in the digital age as the expand operations overseas. However, as these companies become more global, the risk associated with their operation becomes more important. Understanding gender, ethnic and cultural differences can have a profound impact on the overall success of a
Balanced Scorecard The global environment continues to be very contentious as organizations compete for market share around the world. As business continues to become more integrated, it is necessary to have standardized rules and processes. This standardization however must be adapted to fit local constituency within a given market. The balance scorecard is no different in this regard. A balanced scorecard allows businesses to better ascertain their particular strengths within a