Riordan and Project Management Overview- Riordan Manufacturing

Riordan and Project Management

Overview- Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Its products include plastic beverage containers produced at its plant in Albany, Georgia, custom plastic parts produced at its plant in Pontiac, Michigan, and plastic fan parts produced at its facilities in Hangzhou, China. The company's research and development is done at the corporate headquarters in San Jose. Riordan's major customers are automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers.

Project Implementation -- Prior to the implementation of any new project, it is important to have some level of consensus from key managers and stakeholders. Meeting with each key player begins an important dialog and ensures not only consensus building, but also buy-in from those most affected by any new project. This should be done in phases: analysis of current situation, information gathering, observation and follow-up on data received formation of steering committee, timeline approach, core project development, and implementation and then follow up.

For process design changes, the above information will be key to the structure and eventual implementation of the project. Three major sections should be addressed: 1) Material requirements planning (MRP) in which demand is analyzed and forecast, a Master Production Schedule is formed, and various lead times, inventory, etc. issues are considered; 2) Proposed Process Design Supply Chain looking at the way inventory moves and is managed as well as vendor and stakeholder needs; and, 3) Production Forecast and Implementation Plan. The keys to this analysis are the way that each piece (e.g. production) fits in with demand and potential increased sales functions. Within this, several details arise. For instance, it is important to establish a MRP: Bill of materials that allows for a snapshot of a sequence of every item that is required for the final output, considering Human resources, inventory and any individual parts that are constructed rather than purchased. Overall, this process design change determines the requirements of the company and associated stakeholders, establishes a flowchart which then determines workflow, determines the resources required -- human and equipment, then details the supply chain paradigm which includes outsourcing, logistics, global sourcing, just-in-time inventory and any customization necessary (Magrab, et al., 2009).

Phases of a Project -- Project management is an integral part of the business project which should bring about positive change and benefit to the organization. It may be both strategic and tactical with the challenge to achieve a positive result and to complete the project's goals while realizing any planned or unplanned constraints (usually scope, time, quality and budget). In addition, project management must optimize the allocation of all available resources towards the successful result (Nokes, 2007).

Essentially, the idea of project management is to plan, organize and manage the appropriate resources to ensure the completion of a specific task, goal, or object. In general, there are five stages to any project: the initiation, planning / development, production/execution, monitoring/controlling, and closing. Whether this project is a building or an academic thesis, the chart below shows how these stages interact with one another (See Figure 1). There are numerous ways to measure any specific project, and, depending on the project, certain factors take on greater or lesser importance. Three of the most general, yet vital measurements within any project, though, are time, budget, and quality control. These are self-explanatory in some ways, yet complex in others. The entire purpose of a project management system is to be able to adapt to a different set of circumstances, knowing that projects change, circumstances change, and therefore the way a project is managed must be adaptable as well (Stevens, 2002).

Key Deliverables- Deliverables are based on the ratio between the system as it is currently, appropriate benchmarks, and the overall goal of the project. They should be measured both quantitatively and qualitatively (e.g., total production rates for X product is quantitative, employee attitude and retention both quantitative and qualitative). These key deliverables should be part of the planning process that measures the success or failure of the plan, but should also be continuous and part of a feedback monitoring system to ensure for quality and sustainability:

Production Statistics -- One would hope and expect to see rising production rates that tie in with quality and efficiency, as well as improvement on ROI. The project should allow for a higher level of production using fewer resources in a smarter manner.

Quality -- Quality control is an important part of the new project -- fewer mistakes, customer returns and a higher level of satisfaction are key. It would not make sense to increase production, but see a large decline on quality and service.

Efficiency -- Using a newer model of SCM that links needs and deliverables between Riordan and vendors, as well as retooling the manufacturing process should fall into line with improving production and quality.