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MB0044 : Discuss the Modern trends in Project Management. Write a note on macro issues of project management.

Posted on: October 18, 2011

MB0044 : Discuss the Modern trends in Project Management. Write a note on macro issues of project management.
Answer : Modern Trends in Project Management

There are a number of ways a manager can implement a project successfully. As it is important to monitor and control the project activities throughout various stages, it becomes much more important to resort to effective and powerful tools to coordinate the activities. Modern trends in project management have shown a number of ways that can be considered to achieve good results in any project. Irrespective of whichever way one wants to choose for effective outputs, the essential methods are as follows:

  • meticulous planning of all the activities
  • referring to checklist which could have been creatively designed
  • adopting quality control measures and standards

Perception

As per the current trends in project management, the perception is that the job of a manger is to obtain result. A more result-cum-profit oriented corporate strategy lays greater emphasis on maximised efficiency of operations.

Corporate strategic tools in project management

a. Continuous Business Process Improvement: Continuous business improvement is a process through which a project team passes on the details of any system as recommendation for standardisation. It acts as a business process element for the company as a whole.

b. Force Field Analysis: The analysis is done by adopting suitable methods to identify external factors which may affect the project progress. The external factors are the hurdles in a project. Use of appropriate processes minimises and eliminates the hurdles resulting in a smooth flow of activities and project progress.

c. Information Risk Management: Various methods can be adopted to reduce the risks in a project. A proper methodology is one that is based on the quality control aspect which may even be automated and integrated into the project process. The risks arising out of corruption, age, field size variation and format mismatch have to be controlled.

d. Management Assurance Measure: Management assurance measure is a task performed by the project leader to convince management against wavering. At the same time, it aims at preparing team members to counter any unexpected storms in the project. This is the greatest opportunity for a leader to mature and go up the ladder as well as an equal opportunity for the member to emerge a leader through accepting a challenge.

e. SEI-CMM & ISO Certification: SEI-CMM & ISO Certification is a well established certification system. An organisation having a certification will enable the management team to realise the importance of a process and how effectively projects could be managed smoothly. Several world organisations, are now working on P-CMM and total quality assurance.

f. Strategic Inflection Point: A real test for the project leader and the management team is to accurately predict the exact point of the development process where the team might face a massive problem. These points may be related to political, geophysical and rarely to time.

Macro issues

The macro issues of the project management are listed below:

  • Evolving Key Success Factors (KSF) upfront
  • Empowerment Title (ET)
  • Partnering Decision Making (PDM)
  • Management by Exception (MBE)
  • Knowledge (K) Factor

Evolving Key Success Factors (KSF) upfront

In order to provide complete stability to fulfilment of goals, a project manager needs to constantly evaluate the key success factors from time to time.

Empowerment Title (ET)

ET reflects the relative importance of members of the organisation at three levels – Team members, Group leaders, and Managers.

Partnering Decision Making (PDM)

PDM is a substitute to monitoring and control. A senior, with a better decision making process, will work closely with the project managers and members of the project. The whole crew will plan together to find out what best can be done to manage the future better from past experience.

Management by Exception (MBE)

“No news is good news”. If a member wants help he or she locates a source and proposes to the manager only if such help is not accessible for free. Similarly, a member should believe that a team leader’s silence is a sign of approval and should not provoke comments through excessive seeking of opinions.

Knowledge (K) Factor

Knowledge is the most powerful mover of the wheels of progress. Knowledge (K) factor is an index of the extent to which one can manage today with yesterdays knowledge content and also the extent to which today’s knowledge will be used tomorrow.

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