...Running head: Week 2 Project Management Alesia Mason Bryant & Stratton BUSS340- Operations Management Dr. Edwards Risk is a way of measuring probability and consequence of not reaching a defined project goal. Managers and leaders have began devising risk management plans which assist them by identifying a problem and creating a plan that will help them minimize risk factors. There are four ways to address certain risks in project management. Those plans are, but not limited to strategic fit, service / product attribution, project team capability, and operations. It is safe for me to say that regardless of the risk, management has a responsibility to analyze the process and develop valid plans to help address, and / or minimize potential risk factors. With that in mind, operational risk requires more than a generalized thought process. According to research, operational risk is the risk of loss resulting from inadequate or failed processes, people and systems, or from external events. Operational risks can include legal matters, environmental factors, financial risks, cultural risks and employee / management risks [ (Operations Risk Management) ]. Owning and operating a business can be full of risks and rewards. For the most part, operations management speaks of five risks that have been proven to be the most researched and talked about. Legal risk is a risk or loss to an institution caused by defective transactions, a claim being made or some other event...
Words: 728 - Pages: 3
...Foundations of Operational Research and Business Analysis 1 Assignment 2013/14 Author: Thibaut Achard de Leluardière Abstract: Looking through the infinite number of theories and models developed in organisations, this assignment aims at finding out the founding principles of a good OR/MS model and general issues encountered in the setting-up of OR interventions. To try out and compare the insights presented, this assignment proposes to study a specific case about OR modelling in Fishery management. Fishery Management is related to the preservation of fish resources and optimisation of catch and profit of this industry, in a context of high-yield practices and increasingly more complex environmental issues present. This case applies to a large and complex system linked to today’s topics issues of sustainable development. In addition, a personal experience of analytical project related to an internship position as assistant project manager in a leading oil company is proposed to illustrate this essay. This essay concludes by giving recommendations about what could be the characteristics of an ideal portrait of OR/MS model. Introduction: In a letter addressed to English universities after the Second World War, general Pile, a popular British officer who commended the Anti-Aircraft Command, claims for men of sciences ‘able to quickly understand complex issues and to find them simple’. Thus, supporting the fast economic growth in Europe after war, operational research...
Words: 4178 - Pages: 17
...document: http://dx.doi.org/10.1108/09544780710828421 Downloaded on: 16-08-2012 References: This document contains references to 20 other documents Citations: This document has been cited by 10 other documents To copy this document: permissions@emeraldinsight.com This document has been downloaded 12014 times since 2007. * Users who downloaded this Article also downloaded: * François Des Rosiers, Jean Dubé, Marius Thériault, (2011),"Do peer effects shape property values?", Journal of Property Investment & Finance, Vol. 29 Iss: 4 pp. 510 - 528 http://dx.doi.org/10.1108/14635781111150376 Hui Chen, Miguel Baptista Nunes, Lihong Zhou, Guo Chao Peng, (2011),"Expanding the concept of requirements traceability: The role of electronic records management in gathering evidence of crucial communications and negotiations", Aslib Proceedings, Vol. 63 Iss: 2 pp. 168 - 187 http://dx.doi.org/10.1108/00012531111135646 Charles Inskip, Andy MacFarlane, Pauline Rafferty, (2010),"Organising music for movies", Aslib Proceedings, Vol. 62 Iss: 4 pp. 489 - 501 http://dx.doi.org/10.1108/00012531011074726 Access to this document was granted through an Emerald subscription provided by UNIVERSITY OF MANCHESTER For Authors: If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service. Information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more...
Words: 7152 - Pages: 29
...The International Journal of Digital Accounting Research Vol. 1, No. 1, pp. 47-68 ISSN: 1577-8517 Risks and Controls in the Implementation of ERP Systems Severin V. Grabski. Michigan State University, U.S.A. grabski@pilot.msu.edu Stewart A. Leech. The University of Melbourne, Australia saleech@unimelb.edu.au Bai Lu. Colonial Mutual Group, Australia blu@colonial.com.au Abstract. The implementation of ERP systems has been problematic for many organizations. Given the many reports of substantial failures, the implementation of packaged ERP software and associated changes in business processes has proved not to be an easy task. As many organizations have discovered, the implementation of ERP systems can be a monumental disaster unless the process is handled carefully. The aim of this study is to identify the risks and controls used in ERP implementations, with the objective to understand the ways in which organizations can minimize the business risks involved. By controlling and minimizing the major business risks in the first instance, the scene can be set for the successful implementation of an ERP system. The study was motivated by the significance, for both the research and practice communities, of understanding the risks and controls critical for the successful implementation of ERP systems. Following the development of a model of risks and controls, a field study of an ERP system implementation project in an organization was conducted to provide a limited test of the model...
Words: 8803 - Pages: 36
...risks in project early phase Authors: Alquier A.M. Cagno E. Caron F. Leopoulos V. Ridao M.A. Abstract During the early “conceptual” phase of a project life-cycle – considering for instance a competitive bidding process when a request for bidding has been received by an engineering & contracting company and the decision to bid has been made – the main objective of the proposal manager is to achieve an effective trade-off between the bid competitive value on the side of the client expectations and the project baseline in term of time/ cost / performance constraints on the side of the utilisation of the internal resources. Since project final performance depends primarily on risk analysis and management, a “risk driven approach” to Project Management appears to be necessary, particularly during the project early phase when only scarce information is available and contractual obligations are to be taken. In this context, both “internal” risk (e.g. probability of cost overrun) and “external” risk (e.g. probability of winning) must be taken into account. The paper presents the PRIMA (Project RIsk Management - IST-1999-10193) research project aiming at implementing such a “risk driven approach” to Project Management through the development of a Risk Management Corporate Memory and a Decision Support System allowing for collecting, storing, sharing, using company knowledge both in terms of data records and experts knowledge in order to improve the company capability of project risk...
Words: 5506 - Pages: 23
...paper presents a critical literature review concerning the effects of involving suppliers in product development, the critical processes underlying the management of this involvement and the potential driving and enabling factors for managing supplier involvement in product development. Together they constitute the building blocks for a ‘input-throughput-output’ model that helps in understanding the crucial elements of how to manage supplier involvement in product development. This model draws on our previous work in this area, but focuses more clearly on the ‘inputs’ and ‘outputs’ of managing supplier involvement. Introduction to managing supplier integration in product development Literature on product innovation has been pervasively trying to distil the key ingredients for company success. Many of the internal and external actors that are involved in product development - and the interfaces between them - have been subjects of research. Especially the interface between R&D on the one side and marketing and customers on the other side has been investigated (Souder and Chakrabarti 1978; Souder 1988; Griffin and Hauser 1996; Sherman et al. 2000). Compared to this body of literature, the role of suppliers in contributing to company success via product development has been addressed only in a limited way. Also the specific management role of the purchasing function regarding supplier involvement from the customer side has attracted relatively little attention. The...
Words: 12263 - Pages: 50
...Resource Management, 2006, 4 (1), 36-43 SA Tydskrif vir Menslikehulpbronbestuur, 2006, 4 (1), 36-43 AN OPERATIONAL ’PROJECT MANAGEMENT CULTURE’ FRAMEWORK (PART 1) YVONNE DU PLESSIS CRYSTAL HOOLE yvonne.duplessis@up.ac.za Department of Human Resources Management University of Pretoria ABSTRACT The aim of this research is to develop an operational ‘project management culture’ framework, which can be used by project managers and organisations to support project work. One of the main causes of project failure is attributed to a non-supportive project management culture in organisations. A triangulation method is followed inclusive of a thorough literature review, a survey questionnaire and a concept mapping process. A project management culture framework with descriptive elements, based on Deal and Kennedy’s (1982) definition of organisational culture, comprising of four dimensions i.e. project process; people in projects; project systems and structure, and project environment was developed. Key words Project management culture The management of projects has become a strategic issue for many companies. Issues such as strategic alliances, rapid movement of labour and capital, and failure of projects are calling for the need of risk assessment and management from a new perspective. An organisation that wants to remain competitive in providing its customers with continually improved products and services has no choice but to use project management concepts...
Words: 6671 - Pages: 27
...PMO: Project management office An organisational body or entity assigned various responsibilities related to the centralised and coordinated management of those projects under its domain. The responsibilities of the PMO can range from providing project management support functions to being responsible for the direct management of a projecti PMO Services:ii . Basic support services Administrative support for project managers Collating and reporting project status to senior management Providing standards, methodologies and a set of PM tools Managing project documentation (including risk registers, schedules, incident logs etc) Promoting project management within the organisation 2. Advanced specialist Services Consultancy and advisory services Strategic and governance services Developing competencies of personnel, including training and mentoring for project managers Advising project and programme managers Evaluating project managers’ performance Recruiting, selecting and/or allocating project managers Recording, analysing and disseminating lessons learned Identifying, selecting and prioritising new projects, including involvement in benefits management and business cases, contingencies etc Allocating resources between projects and programmes Providing advice and recommendations to senior management Conducting project health checks and post-project reviews Monitoring and reviewing PMO performance and its effect on project delivery SServuces Services Services ...
Words: 3090 - Pages: 13
...ASSESSMENT FRONT SHEET LONDON CHURCHILL COLLEGE Programme: AAPBS LEVEL-5- Certificate in Business Mgmt Studies. Unit: Operations Management in Business Unit code: M- QCF level: 5 Credit Value: 15 Tutor: Sabrina Akbar Email- Sabrina.akbar@londonchurchillcollege.co.uk Date Set: 08/02/2012 Learner’s name and statement of authenticity Learner’s Name: …………….. Learner’s ID: Date handed-in: I certify that the work submitted for this assignment is my own. Where the work of others has been used to support my work then credit has been acknowledged. Signature: ……………………. Date: …………… 1. Introduction: Operations management is concerned about overseeing, redesigning and designing business operation in service or production of goods, efficient use of resources and effectively meeting of customer requirements. Operations management also cover the process which converts inputs into outputs like inputting raw materials or energy and labor and getting goods and services. It considers the utilization, development and acquisition of resources that organizations need to deliver services and goods their customers want. The works and jobs responsibility of operation management starts from strategic planning and ends at operational and technical levels. Operation management use various technology and ideas to reduce production and operating cost and increase productivity, improve customer services, increase product quality and improve...
Words: 3606 - Pages: 15
...European Journal of Operational Research 172 (2006) 401–416 www.elsevier.com/locate/ejor Production, Manufacturing and Logistics An investigation of buffer sizing techniques in critical chain scheduling Oya I. Tukel a a,* , Walter O. Rom a, Sandra Duni Eksioglu b College of Business Administration, Cleveland State University, 1860 East 18th Street, Cleveland, OH 44114, USA b Department of Industrial and Systems Engineering, University of Florida, Gainesville, FL 32611, USA Received 24 April 2004; accepted 28 October 2004 Available online 1 January 2005 Abstract In this paper, we introduce two methods for determining feeding buffer sizes in critical chain project scheduling. Both methods integrate project characteristics into the formulation. Specifically, one of them incorporates resource tightness while the other uses network complexity. Both methods are tested and compared to two commonly suggested methods in the literature, the cut and paste method and the root square error method, as well as using no buffer as a benchmark. The comparison is done by means of a simulation study using the Patterson data set. The test results indicate that both of the suggested methods generate smaller buffer sizes while providing sufficient protection against delays in project completion time. Ó 2004 Elsevier B.V. All rights reserved. Keywords: Project scheduling; Critical chain; Feeding buffers; Buffer sizing methods 1. Introduction In his 1997 book, Goldratt (1997) introduced the critical chain...
Words: 8941 - Pages: 36
...Supply Chain Management: Challenges, Remedies and the Impact of change - Overview By Adawari Josiah Jumbo Student No.: 15522057 Submitted To Laureate Online Education & University of Liverpool – Online Masters Degree In Partial fulfillment for the award of Master of Science (M.Sc.) Degree in Operations and Supply Chain Management Instructor: Professor Anshuman Khare 2010. ACKNOWLEDGEMENT I am delighted to say thanks my Instructor Professor Anshuman Khare for your professional support and supervision all through this module including this project work for your encouragement is commendable. The learning acquired through interaction with my course mate has been tremendous, I therefore say thanks to my entire class mate. I also appreciate all authors whose works aided me in this project. I am sincerely indebted to all of you. To God, I say thanks for your kindness and support for this programme. Adawari Josiah Jumbo ABSTRACT This research was carried out to find out the challenges and the economic and operational impact of change on supply chain, including the options available to improve the challenges and create increased performance on the chain. To drive home the study we focused on PHRC Limited in Nigeria. We also undertake a comprehensive review of...
Words: 2614 - Pages: 11
...Management Information Systems MANAGING THE DIGITAL FIRM Kenneth C. Laudon New York University f Jane P. Laudon Azimuth Information Systems PEARSON feerttifie tall Pearson Education International Brief Contents Part One Chapter 1 Chapter 2 Chapter 3 Chapter 4 Part One Project Organizations, Management, and the Networked Enterprise 1 Information Systems in Global Business Today 2 Global E-Business: How Businesses Use Information Systems 38 Information Systems, Organizations, and Strategy 80 Ethical and Social Issues in Information Systems 124 Analyzing Business Processes for an Enterprise System 165 Part Two Chapter 5 Chapter 6 Chapter 7 Chapter 8 Part Two Project Information Technology Infrastructure 167 IT Infrastructure and Emerging Technologies 168 Foundations of Business Intelligence: Databases and Information Management 222 Telecommunications, the Internet, and Wireless Technology 260 Securing Information Systems 312 Creating a New Internet Business 351 Part Three Chapter 9 Chapter 10 Chapter 11 Chapter 12 Part Three Project Key System Applications for the Digital Age 353 Achieving Operational Excellence and Customer Intimacy: Enterprise Applications 354 E-Commerce: Digital Markets, Digital Goods 388 Managing Knowledge 428 Enhancing Decision Making 470 Designing an Enterprise Information Portal 508 Part Four Chapter 13 Chapter 14 Chapter 15 Part Four Project Building and Managing Systems 509 Building Systems 510 Project Management:...
Words: 3508 - Pages: 15
...Comparative Research on the Development and Implementation of Philippine Health Information Systems Nasak, Leah Grace B. University of the Cordilleras Blk 7, Quirino Hill, Baguio City 09475813872, 2600 leahgracenasak@yahoo.com Martinez, Erna-Kristi N. University of the Cordilleras 25 Engineer’s Hill, Baguio City 09063177093, 2600 ekjmartinez@yahoo.com ABSTRACT This document is a comparative study of different researches conducted regarding the implementation of a health information system in the Philippines. The analysis shall include a look into the collaborative efforts of the government, the health care industry, and NGO’s to address the concerns of integrating information and communications technology in the health sector. Government deployed health information system projects shall be presented as additional references to draw out conclusions for the research. The implementation of a Health Information System (HIS) is a big step to take for developing countries like the Philippines. Encumbered with numerous problems, the Philippines have to prioritize and exhaust all efforts to resolve issues to address the needs of the country. Through the efforts of some private sectors and some government agencies, the country’s health information system is undergoing major changes towards a national implementation. This research will take a retrospective look into the beginnings of the Philippine Health Information Systems. Assessment and reviews on the current status...
Words: 4425 - Pages: 18
...Organisational chart and management profiles 3 Chapter 3 – Management responsibilities 4 Chapter 4 – Budget summary 5 Chapter 5 – Operational plan 6 Chapter 6 – Description of operations 9 Chapter 7 – Organisational risk register 10 Chapter 8– Marketing plan 12 Chapter 9 – Sales and marketing policy 24 Chapter 10 – BBQfun Privacy Policy 26 Chapter 11 – Anti-discrimination policy 30 Chapter 12 – Procurement policy and procedures 31 Chapter 13 – List of preapproved suppliers 36 Chapter 1 – Business plan (excerpt) Chapter 2 – Organisational chart and management profiles BBQfun organisational chart Chapter 3 – Management responsibilities Pat Mifsud, CEO Pat is responsible for working with the Board of Directors to oversee the business, set overall strategic directions, manage risk, and authorise large financial transactions. Riz Mehra, Chief Financial Officer Riz is responsible for preparing quarterly financial statements and overall budgeting. Riz is also responsible for overseeing budgets for cost centres and individual projects. At completion of financial quarters and at the end of projects, Riz is responsible for viewing budget variation reports and incorporating information into financial statements and financial projections. Kim Chen, Operations General Manager Kim is responsible for the day-to-day running of the company. Kim oversees the coordination of all operations. Kim is responsible for sponsoring projects which affect operations of...
Words: 693 - Pages: 3
...INROP- International Research Network of Organizing by Projects IRNOP was founded in 1993 as a loosely coupled network of researchers and have developed from there, adding researchers in countries all over the world. The IRNOP network connects scholars with a background in business, economics, engineering and other fields, with a common interest in projects, project organizations and temporary systems. The goal of inrop is to inform researchers of conferences and other project related issues the website builds on info the readers provide .So far Inrop has organized nine conferences in Istanbul Turkey, Montreal Canada , Oslo Norway, Umea Sweden, Austria, Finland, Paris France, Germany, Ireland, Lisbon Portugal, and the United Kingdom. Publications •ephemera - theory & politics in organization (See 2009, 9(2) for a special issue on 'Project management behind the façade') •International Journal of Managing Projects in Business •International Journal of Project Management •International Journal of Project Organization and Management •Journal of Project, Program & Portfolio Management •Operational Research Society, UK. Study group: Project Management. •Project Management Journal •Project Manager Today (electronic journal) •Projects and Profits ICFAI Press •Scandinavian Journal of Management (See 1995, Vol 11, No 4 for a special Drouin, N., Müller, R. and Sankaran, S. (2013) Novel Approaches to Organizational Project Management Research. Copenhagen Business...
Words: 819 - Pages: 4
