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Project Management Tools and Their Uses

Question :

This assessment will cover some questions which are like:

  1. Elaborate effective business management process and working.
  2. Give all the areas and the ways it develops the strategies for external analysis.
  3. Provide the nature and functioning of business management.
Answer :

INTRODUCTION

Business management refers to as managing tasks with responsibility of making budget analysis with an administrative purpose. In this, a vital role played by a manager in order to make marketing programs which assists in a company(Carroll, 1959.). They includes general requirements which a manger can perform activities of finance, marketing, management etc. The purpose of this assignment is to deal with management tools and journal content in reference to develop personal skills. In this, business and its assignment is made in the context of evaluation and finding key terms. Learning reflections is made in a manner with online quality and content basis.

TASK 1

Demonstrate project management tools and their uses

Project management is define as one time activity in accomplishing of successful target. The activity is specific in order to produce outcomes. Program is made in order to control quality and for managing various projects. Plans created in a way to define and confirm goals and objectives. The project is often follow by stages in defining, planning, implementing and for evaluating purpose. Management uses software tools for making effective and efficient project. It is temporarily defined from beginning to the end by examining scope and resources. The applications used in activities or techniques required in projects having complete knowledge and skills about project. Project process is explained in five forms like initiating, planning, executing, monitoring and closing. The knowledge required in forms a person having integration, time consuming, optimum utilization of resources, effective communication, managing risk and stakeholders.

Project management tools

Tools of project management is based on developing purpose with high responsibility targets. In modern organisation, projects made are in form of development for next generation with the help of software(Chen, 1998.). For executing successful plan, team support is made for setting tools. Their use is made on weekly basis for managers for easy as well as standardised work. Tools are designed in regular productivity adopted by management. The following tools used by managers are consider as under.

  • Project Plan: Project plan is executed in detailed form with many aspects. The two main components are allocating of resources and delivery details of product. Strategy depends on the purpose and specific requirements with a motive to achieve(Cooper, Gimeno-Gascon and Woo,1994.). It is addressed in describing scope and objectives. By executing plan it plays a essential role for business in achieving targets well and accurately. It is an ongoing process helps in weekly activities. This is an important function of a manager and stakeholders working in an organisation.
  • Milestone Checklist: It is a best tool which is used to determine managers project progress. In this, it help manager to use excel template in weekly act and as well as  prepare document which are updated once or twice in a week. Work with expensive software system is not in a mode to use by manager but he may can use simple excel template in behave of that.
  • Project management software: Software tools are made for specific purpose to develop technological use. It is useful in weekly activities by tracking complex projects. The projects are managed in many geographical areas. MS reports has many other software packages tool to determine online portals of activities with details. This tool is used by managers in all over the world. It refers to a project which came in a form easily managed by mangers in dealing with projects.
  • Gantt Chart: it is a management tool used by preparing bar charts for tracking targets. In this, it shows different phrases, tasks, resources which are a part of project. organisation uses a kind of project tool which determines standard of industry. It illustrates schedules and intermediaries of task for each activity. Their use is constructed on weekly basis for developing software. Its contact describes dealing with complex tasks and involved in hundred of activities. They create use of excel template which is downloaded from internet.
  • Logic network: It define as a project which is dealing with sequencing activities over a period of time(Costanza and Haskell, 1992). This prescribed as another logical activity which is used in a manner to identify critical path of a project on weekly basis. The tool is used for valuing information by overlooking on task. Dependencies are made on project, timescale and workflow during task formation.
  • PERT Chart: PERT is defined as program evaluation and review technique. This model is based on analysing targets and prepare them till the accomplishment of objectives. A business uses this tool to solve total project in minimum required time. It is used when completing tasks in form of making network model(Gibson and Cohen, 2003.). This model estimate each activity within a fixed period of time. The diagrammatic model is useful for completion of complex problems in easy way. This method is used in a manner to make chart which can easily be seen and understand by an organisation or an other person.
  • Work Breakdown Structure: It define as the process to determine by complex projects and tasks performed. Managers use this project execution in weekly activities. They are dealing with larger tasks by breaking down by manageable work. Scope of project is made out by accomplish objectives and with delivery required. Elements which are made in this composition are product, data and service. This structure is created in a project for few reasons are stated as under.
  1. The project is accurate and readable for an organisation.
  2. Team work with delegation power in performing responsibility.
  3. Task consider controlling points and milestone projects.
  4. Helpful in estimating time, cost and risks.
  5. Illustrating scope of the project with making understanding with stakeholders.
  • Potential return on investment: ROI is important for measuring project, time and money. In this, measurement is made by teams in order to achieve cost. It is a tool by which management can communicate effectively with each other. This is used for weekly mode by determining project solutions which are estimated by ROI.

Time and money plays a vital role in this tool for management applied for higher value of activities. For this, software are designed for the purpose of saving lots of time in projection. Preplanned activities are helpful in weekly basis to start their day with a defined purpose. In business, employees are working in production with saving time either by wasting their time in other work. Money is a biggest topic in dealing with ROI as management tool. It is made on real concerns with work zone as  employees salary per month worth to achieve business goal.

  • Rationale for exhibiting: It is widely using tool by an organisation which deals with trade shows and goals in mind which ultimately makes focus for program effectiveness. This is useful for company to exhibits activities on weekly manner. Many of the industries uses this in order to deliver program by executing easily typical objectives.
  1. Obtain customer feedback:  it is a way to attend topics with perfect opportunity in trade shows. This is wonder by sales to know what customers service skills provided(Kramer and Cook, 2004). They are drawn on the basis of examining product demos exhibition.
  2. Gather competitive intelligence: Trade shows are made in a way of gathering competitive intelligence by attending seminars, assembling value data, new competitive trends etc. It is made in order to compare products by determining marketing challenges uses in weekly basis.
  3. Introduce Employees to the industry: this is the best way in which employees interacted with an industry. It exhibits sessions, valuable information with an incorporated companies. On weekly activities this is used by entering of new employees to make an interaction with an industry.

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TASK 2

Personal reflection on development of key skills

In business management there are various skills are requires for the effective understanding and work. Appropriate key skills are essential in the management and skills of person should fulfil the requirements of business management so that work can be done effectively and smoothly. If any one have appropriate skills a per the need than chances of error or defects can be minimised or reduced. There are following key skills which I need to posses which are such as follows :

Communication Skills

These skills are very important because it helps to understand the message of a person. In this process minimum two persons are required one is sender and other is receiver. Sender convey the message or information to the receiver which the help of verbal or non verbal modes of communication. Verbal modes of communication includes:

  1. Oral communication: I use spoken words in this type of communication and there are various intermediaries can be used like: telephone, video, television etc.
  2. Written communication: In this type of communication written signs and symbols can be use to communicate the information. It includes letter, email, report memo etc.
  3. Non verbal communication: I can communicate the information to the receiver with the help of facial expression, gesture, posture and body language. Some times reviver can not understand the message of sender. So this skill can help to make the effective and efficient communication between two or more persons.
  • Numeracy: Numerates means having the confidence and skill to use numbers and mathematical approaches in all aspects of life- at work, in practical everyday activities at home. It can help to managing the finance and budget. I can develop thinking and reasoning skills through it which can help me following ways such as:
  1. I can interpret data, diagram and charts.
  2. I am able to solve mathematical problems.
  3. It helps me to understand and explain solutions.
  4. It can help me to take effective decisions based on logical thinking and reasoning.
  5. Numeracy help me to make my weekly and monthly budget  which can help me to analyse my expenses.
  • ICT: Information and communications technology is used by me to complete my business management project(Myers, 2013.). It involves broadcast media, telecommunications, audiovisual processing and network- based control and monitoring functions. It helps me to do work in Microsoft office  which can help me to complete my project effectively and efficiently. I use it so my work can be done fast and smoothly and chances of error or defects can be reduce by using it.
  • Problem solving: Problem solving skill is essential so that a person can solve the problems easily and effectively. Getting problem is a common thing which is faced by the person at his home, office, school, college etc. Persons have to face it in their day to day work. I also faced various issues on day to day basis but I am able to find the solutions so that it does not affects me more. It can be easy or complex depends upon the situation or work but I have posses problem solving skills so that I can able to handle the different- different difficult situations easily. During the making project there are various problems which are arise but I know how to find the solutions so that I can able to solve it.  It helps me to improve my skills and develops the confidence in my self that I am able to rectify the complicated situations. There are following ways through which can help  a person to solve the problem which are as follows:
  1. I always focus on the solution not the problem so I can analyse it.
  2. I try to find out various alternatives so that I can got various solutions to rectify the issues.
  3. Get out of the “I know everything” mentally is help me to find the ways to solve the critical problems.
  4. I always find the root cause of the problem not the symptoms so I can able to find the effective ways which can deduct the issues.
  • Working with others: If a person can adjust itself in the group and comfortable to work with others than its coordinating and managing skills can be improve and develop(Nickerson and Silverman, 1997.). I like to work in team  because its helps me enhance my performance and I can learn how to work in a team. Working with others can helps in to achieve the target easily because all members can suggest and use their innovative ideas. So work can be done smoothly and effectively and targets can be achieved easily. There  are various benefits of working with others which are such as follows:
  • Better outcome: Working in a team can generates better and effective outcomes because team gets more resources to faced the challenge and minimise the risk of poor contribution of individuals. I want   better results so I like to work with others.
  • Efficiency: If a team is performing well together and able to achieve its target than it can do better than individuals can do alone.  I want to improve my efficiency so that I work with others.
  • Better ideas: If there are many members are working  in a team than better ideas can generates that's why I want to work with others so that better, unique and effective ides  can come which can help to do work smoothly.
  • Mutual support: Mutual support can be gained if a person is working with others because all members of team can encourage and motivates the person if it want support. I work in a team with others because when I face any problem in any task than group persons are always ready to help me so that I can perform my duties effectively. It helps to develop the confidence in myself to work better and achieve my targets.

Operation management focus

Management focus is made on production level in producing goods and services.  Customers are becoming more demanding in opting more and better products(Pearce and Robbins, 1994). The main  motive of an organisation is to deal with their best efforts in order to gain customer importance and attraction towards a creation.  Industries are producing variety of products with examining, right quality, product, time and manufacturing costs.

  1. Right quality: For establishing customer focus towards product, company deals with the necessity for demand of products.
  2. Right quantity: An organisation manufactures products in right number. The demand of product leads shortage in quantity of products which block inventory on excess of demand.
  3. Right time: effective timelines are refereed in delivering made by judging in order to production department. The objectives achieved by utilizing input resources by department.
  4. Right manufacturing cost: Costs are stablish before manufacturing made on product. The variation lie in between actual and standard product is made by pre stabilised costs. 

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Transformation process: In operational management, changes made by business and organization  is improved by employees and management. The participation made in an order to develop business operations. The process of change can make failure or can improve operation. This forming is made on new market trends by overlooking on business processes. An organisation uses smart process in directing business. The focus of operation management lie on implementing business process. Modification is made by redesigning and improving of processes smartly.

Product service delivery: This service define in an order to satisfied customers with maximise efficiency. Company allows focusing on clients and customers by making effective monitoring and managing. Operational management is addressing in away by controlling of quality and focusing on core of business. Procedures are used in implementing schemes and sustainable resources. The services are to be deliver in an order to gain make focus of customers and clients towards a product.

Managing Capacity: capacity is managed by limiting resources such as in manufacturing, technology, raw materials and inventory. New product development or marketing is made with capacity constraints that arises by various resources. It is a primary goal of an organisation to meet business requirements. Management of services are made in order to lead with higher growth and opportunity justifies with investment decisions(Svensson, 2002). Capacity is managed by an operational management with their focus on raw material to the finished product.

Managing Quality: Quality of a product is managed by overseeing activities with desired level of excellence. It includes determination of policy created by planning and assurance. By this, an implementation is made by improvement of quality. Focus of operational management is on long term goals implemented by short term initiatives(Tiwana, 2000.). This approach is made maintaining quality management by enhancing productivity. 

Resources: Resources are those which are supplied in making benefits. Classification is made in order with renewable and non renewable resources. It is a stock or supplied of money, material made for an organisation. It is a strategy which is adopted in adverse circumstances by measuring, planning , plotting, devising and tools. It is their in an organisation to make optimum use by gaining objectives and goals.

CONCLUSION

From the above mention report it describes about business management which deal in an order with project and operation management focus. The company which are used to deal with an efforts on project completion. This report has explained tools of project management which are used in an order to compensate work easily and rapidly. Focus of an operation is on making production from raw material to finished goods. The managing efforts used by company.

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