Top Five Management Challenges

In: Business and Management

Submitted By epilef
Words 871
Pages 4
LESSON 2 EXERCISE 2-1

THE TOP FIVE CHALLEGENGES

1. SCOPE OF THE PROJECT LACK OF CLARITY

Once completed, becomes the basis for future project decisions because it contains the criteria used to determine if the project or phase of the project has been completed successfully. This scope will form the basis for an agreement between the project team, the customer and the project sponsor identifying both the project goals and mayor project deliverables.

2. CHANGING PRGANIZATIONAL PRIOITIES

Priorities are very much everything in our economies and organizations creates uncertainty of them. I think one of the most difficult or frustrating experiences a project manager can suffer is managing within this environment while the project is being implemented. This is like a strategically driven scope where the organization may change the project’s goals deliverables, budget or time line. A project that is critical today may not be as important tomorrow and the project manager may be told to put it aside for a while and work on the newer priorities.

A change in top management is another factor to be considered. This could result in change in priorities, direction of expansion and other efforts. The project manager has little control over these occurrences. Hopefully, the project has a clear process for managing project changes. There are always ways to reduce the impact of the changes by informing the teams, concentrate on executing the change, revise schedules and budget, revise project plan, and making sure there is a signed project scope etc.

3. LACK OF MANAGING PROJECT OR PROJECT OR PROJECT NOT WELL MANAGE

Things were done one way and now are done different. A new approved scope statement and project plan initiates a request for change when there is a need to modify the agreed-upon project scope defined. Scopes often require adjustments to…...

Similar Documents

Five Functions of Management

...Five Functions of Management within the Army Denise Witherspoon MGT 330 Jonathan Good May 7, 2012 Five Functions of Management within the Army The five functions of management within the Army are inseparable. Through lost wars and battles, Army leadership had to learn the hard way why those functions were inseparable. In this paper, I will provide a brief narrative of the Army’s organizational structure and how it applies to the five functions of management. I will also incorporate leader and motivation theories as it relates to the Army. The Army’s organizational structure can be complex to those who aren’t familiar with the military. The Army consists of numbered armies, corps, divisions, brigades, and battalions that conduct full spectrum operations around the world.” (Department of Defense 2012). Those units report to the Department of Defense through a chain of command. The units within the Army have front line managers (Troop Commanders), middle managers (Division Commanders), and top managers (Commanding Generals). These managerial levels are comprised of Army officers. The enlisted leadership is comprised of line managers and staff managers. The President is the Commander-and-Chief of the armed forces, otherwise known as the President. His top-level management team consists of the Vice-President, the Chief of Staff, and the Secretary of Defense. The Army is a mechanistic organization combined with a......

Words: 1774 - Pages: 8

The Five Traps of Performance Management

...The Five Traps of Performance Measurement by Andrew Likierman In an episode of Frasier, the television sitcom that follows the fortunes of a Seattle-based psychoanalyst, the eponymous hero’s brother gloomily summarizes a task ahead: “Difficult and boring—my favorite combination.” If this is your reaction to the challenge of improving the measurement of your organization’s performance, you are not alone. In my experience, most senior executives find it an onerous if not threatening task. Thus they leave it to people who may not be natural judges of performance but are fluent in the language of spreadsheets. The inevitable result is a mass of numbers and comparisons that provide little insight into a company’s performance and may even lead to decisions that hurt it. That’s a big problem in the current recession, because the margin for error is virtually nonexistent. So how should executives take ownership of performance assessment? They need to find measures, qualitative as well as quantitative, that look past this year’s budget and previous results to determine how the company will fare against its competitors in the future. They need to move beyond a few simple, easy-to-game metrics and embrace an array of more sophisticated ones. And they need to keep people on their toes and make sure that today’s measures are not about yesterday’s business model. In the following pages I present what I’ve found to be the five most common traps in measuring performance and illustrate......

Words: 2936 - Pages: 12

Applications of the Five Functions of Management

...Applications of the Five Functions of Management Applications of the Five Functions of Management The five functions of management, planning, organizing, staffing, leading and controlling are all necessary actions to ensure a successful path of operations in the depot. Each of these functions will be detailed in the coming text to show the relationship each has to the other and as they apply to the day to day challenges that the depot faces. Repair activities in the depot must begin with a plan. As the depot operations manager planning begins with a complete understanding of the action that must be undertaken. Strategic plans are designed to integrate all company activities into one coherent course of action (Bedeian, 1986, p. 100). Planning a repair activity in the depot consists of choosing strategies, resource planning and goals. These steps consist of different levels of detail. The strategy employed for a repair is determined first by assessing the failed carcass. The example we will use will be a Unit 3 Control Power Supply, Multifunction Chassis. This is one of the major units that the depot services. We begin the strategy aspect of the planning function by researching our data base to find valuable failure data that we collected during previous repairs. This data is then reviewed so a strategic approach can be developed. During this data collection and strategic planning commonality of failures, failure trends and corrective actions are......

Words: 2243 - Pages: 9

The Top Five Global Pharma Companies Where They

...Brochure More information from http://www.researchandmarkets.com/reports/680564/ The Top Five Global Pharma Companies; Where they are Now and Where they heading? Description: A mini report identifying drivers and barriers to sustaining financial performance over the next 5 years for the top five global pharmaceutical companies -Johnson & Johnson, Pfizer, GSK, Novartis and Sanofi-Aventis This report presents the cases of the top five global pharma companies: J&J, Pfizer, GSK, Novartis and SanofiAventis and identifies their key growth areas. Pooling data from 6 major investment institutions, it delivers a 360o analysis on these big five global pharma with further value add and refinement coming from 8 leading key opinion leaders, to produce an easy to read 25 page PowerPoint deck. Johnson & Johnson has reached a critical point in its product portfolio which should see the company convert from “cash cow” (high market share; low market growth) to “star” (high market share; high market growth) status by 2010. This is reflected in J&J having not less than 6 late stage drugs that will either unveil phase III data or be filed with the FDA within 2008 culminating in strong impact on its P&L account by 2010. Likewise the other cash cow Pfizer, boasts of at least 17 disclosed products under late phase development, with launches in the post-2010 period, thus are likely to buoy double digit sales growth beyond Lipitor patent expiry. GlaxoSmithKline on the other hand, has a product......

Words: 1107 - Pages: 5

Role Top Management

...What role can top management play in helping a company achieve superior efficiency, quality, innovation, and responsiveness to customers? A company can increase efficiency through a number of steps: • Exploiting economies of scale and learning effects, • Adopting flexible manufacturing technologies, • Reducing customer defection rates, • Implementing just-in-time systems, • Getting the R&D function to design products that are easy to manufacture, • Upgrading the skills of employees through training, • Introducing self-managing teams • Linking pay to performance, • Building a companywide commitment to efficiency through strong leadership, • And designing structures that facilitate cooperation among different functions in pursuit of efficiency goals. The role of top management is absolutely critical in achieving each of these goals. It is top management’s task to set challenging efficiency, quality, innovation, and responsiveness goals and to communicate the importance of these goals to others in the organization. Top management must also demonstrate commitment to the attainment of these goals by modeling the desired behavior and by using the internal incentive systems of the organization to reinforce behavior that is consistent with each of the goals. Furthermore, top management has to allocate resources within the organization so that others can attain these goals; it needs to facilitate cooperation between different functions within the organization in......

Words: 593 - Pages: 3

Five Functions of Management

...The Five Functions of Management Practices Implemented in my Workplace OJ MGT 330 Prof. Kay March 22, 2014 The Five Functions of Management Practices Implemented in my Workplace As the world continues to advance at a fast pace, organizations has to be extremely watchful in exercising of their managerial qualities, values, culture, and system, as it is compulsory for each and every employee to understand the standard of operation of their organization. Management is a discipline that consists of a set of five definite functions: planning, organizing, staffing, leading, and controlling. These five functions are part of a body of practices and theories for how to be a successful manager (Reilly, Minnick, Baack, 2011). At the mention of management, a lot of people believe management is about supervising employees, or that it is an incomprehensible set of practices developed by corporate experts in high level positions within an organization, while others think management is related to a specific leader or authority within an establishment (Reilly, Minnick, Baack, 2011). Who then is a manager? What the duties of a manager as a leader in an organization? The solution to these questions mainly depends on the five functions of management which are: planning, organizing, staffing, leading, and controlling are implemented in the various institutions to help in identifying standards and accomplish set goals. In this paper, I will present how the management practices of......

Words: 2034 - Pages: 9

Five Decades of Operation Management

...Title –Five Decades of Operation Management and the Prospects Ahead INTRODUCTION This article basically talks about the advancement of the operations and supply chain office in the journal in the course of recent decades in tandem with the development in the field of operations management. It praises its past achievements, talks about its present difficulties and imagines the future in this field. It starts with the root of diverse administration contemplations and how the field of operations administration and operations exploration propelled out of it and set forth logical and investigative models for streamlining, institutionalization and dissemination of advantages. The main tread of operations management was streamlining which was in the long run embraced by numerous associations. Later because of different changes in computing innovation and because of mechanical progressions the field of operations was postured with numerous difficulties that brought about more decentralization and center moved to functionalities that brought about the shrinkage of the field. With introduction of new ideas like Just in Time, TPS and TQM there was a shift in the locus of imagination and which prompted the broadening of the field. At last the article portrays how the OSC office in the journal created in a relative way with the extension of new parts into the division bringing about its available structure. It unpretentious components the challenges it stood up to and what......

Words: 660 - Pages: 3

Five Functions of Management

...Five Functions of Management from an Insider Management for Organization Organizations require outlining of design and arrangement of many details in order to grow. Working in the educational industry, has opened my eyes to the “behind the scenes” aspects of what it takes to run schools and the departments within to stay afloat. I will apply the five functions of effective management; planning, leading, organizing, staffing, and controlling to my professional career in examples that I have encountered. Examples will include from both positions I have held in the district; some will be explained in positive aspects and others in negative aspects. I have been employed about two years with the La Joya Independent School District. My journey began in the human resources department as a receptionist to being promoted to personnel clerk. Later I transferred to an elementary as a teaching aid for special education children. The district serves over 4,000 employees and consists of 23 early childhood schools, 8 middle schools, 3 high schools, 5 early college and academy schools, and an alternative center. The planning function is critical in the human resource department. With new laws taking effect, people transferring, and new departments being made; working in human resources is fast paced and merciless to those that cannot multitask. The environment is assessed internally and externally by executives, goals are implemented to all departments and individuals, to......

Words: 2047 - Pages: 9

Five Marketing Management Orientation

...orientation focuses its efforts on 1) continuously collecting information about customers' needs and competitors' capabilities, 2) sharing this information across departments, and 3) using the information to create customer value. The market orientation simply defines an organization that understands the importance of customer needs, makes an effort to provide products of high value to its customers, and markets its products and services in a coordinated holistic program across all departments. In what we call the "Marketing Concept," the company embraces a philosophy that the "Customer is King." The Marketing Concept is an attitude. It's a philosophy that is driven down throughout the organization from the very top of the management structure. The Marketing Concept communicates that "the customer is king." Everything that the company does focuses on the customer. Via the Marketing Concept, a company makes every effort to best understand the wants and needs of its target market and to create want-satisfying goods that best fulfill the needs of that target market and to do this better than the competition. It wasn't always that way. There were other orientations that companies embraced over the years. The Production Concept has been around for years. That concept simply suggests that customers prefer inexpensive products that are readily available. In effect, "if we make it, they will come." The Product Concept suggests that......

Words: 425 - Pages: 2

Challenges Facing L'Oreal Management

...L'Oreal: Knowledge Management Using Microsoft SharePoint. Hand in 9 & 11 13 April 2016 Tags: Global brand coordination; sharing business knowledge; collaboration and coordination of effort worldwide; enabling a single community; ease of integration with desktop MS Office. Summary L'Oreal decided to use Microsoft SharePoint server to create a global knowledge management and collaboration platform. The system runs on a corporate intranet called M@sternet that spans the globe and coordinates the work of hundreds of teams in over 150 subsidiaries. URL:http://www.youtube.com/watch?v=8MvWkDXFz0w&NR= Case "The L'Oreal Group is the world's largest cosmetics and beauty company. It is headquartered in the Paris suburb of Clichy, Hauts-de-Seine, France. 96% of L'Oreal revenue is generated from cosmetics, from hair colour products to skin care, sun protection, make-up, perfumes and hair care. L'Oreal also is active in the dermatological and pharmaceutical fields. The company was founded in 1907 by Eugene Schueller, a young French chemist, who developed an innovative hair-colour formula. In 1920, the small company employed three chemists. By 1950, the research teams were 100 strong; that number reached 1,000 by 1984, and is nearly 2,000 today. While L'Oreal got its start in the hair-colour business, the company soon branched out into other cleansing and beauty products. L'Oreal currently markets over 500 brands and many thousands of individual products in all sectors of the......

Words: 844 - Pages: 4

Challenges of Performance Management in Nursing

...CHALLENGES OF PERFORMANCE MANAGEMENT IN NURSING INTRODUCTION An effective employee is a combination of a good skill set and a productive work environment. Many factors affect employee performance that managers need to be aware of and should work to improve at all times. These include a lack of recognition of employees who are performing well, quality performance outcomes and an absence of a formal performance management system and poor working conditions (Awases, Bezuidenhout & Roos, 2013). Over the last 20 years, a number of strategies aimed at improving the job performance of health workers have been implemented in low and middle-income countries (LMIC) (Marchal et al. 2012). Each strategy has had its specific perspective and focused on one particular issue: quality improvement, performance management, building learning organisations, innovation diffusion, to mention but a few (Chopra et al. 2008). While success has been reported in some cases, there is increasing acknowledgement that to improve performance of health workers especially nurses and health care organisations in general, approaches that deal with one problem, mostly fall short or obtain only short-term results (Marchal et al. 2010). The concern about shortage of nurses and it potential effect on quality of nursing care rendered as well as the mounted public urge on quality and excellent performance in the health sector mandates the Human Resource Management as part of their core function to ensure that......

Words: 2800 - Pages: 12

Cmos' Top Goals and Challenges

...CMOs' Top Goals and Challenges by Ayaz Nanji  |   July 16, 2015   26 inShare Chief marketing officers (CMOs) say they are expected to simultaneously retain customers, increase brand awareness, improve customer satisfaction, and increase customer profitability, according to a recent report from Oracle Marketing Cloud and the Aberdeen Group. The report was based on data from a survey of 447 marketers at B2B, B2C, and mixed-model (B2B and B2C) companies from around the world (57% based in the Americas; 29%, EMEA; 14%, APAC). Some 81% of senior marketers surveyed say retaining customers is one of their top agenda items; increasing brand awareness is the next most common goal (74% cite), followed by improving customer satisfaction (67%) and increasing customer profitability (54%). Below, additional key findings from the report. Challenges More than half (55%) of respondents say a top challenge is meeting the needs of modern buyers who have access to a wealth of information about competing products/services. Some 40% of respondents say they struggle to create enough content for their marketing efforts. Best-in-Class Performers As part of their analysis, the researchers examined what differentiates the data strategies of the best-in-class performing companies—those who self-report being in the top 20% in customer retention, revenue growth, profit margin, and response time to customer needs. The analysis found best-in-class marketers are more likely to use......

Words: 389 - Pages: 2

The Five Functions of Management

...The Functions of Management at Work Columbus Diamond Management for Organizations MGT 330 Instructor Ed Gehy March 13, 2016 References Page: The five functions of management, Planning, Organizing, Commanding, Coordinating, and Controlling are all part of what shapes and makes Ingalls Shipyard a successful and great place to work. Don’t get me wrong the place I work and the type of work I do is dangerous. What makes it worth the dangerous conditions I am under while at work is the company that I work. To explain, the company that I work for takes really good care of their employees. Huntington Ingalls Industries is America's largest military shipbuilding company and a provider of manufacturing, engineering and management services to the nuclear energy, oil and gas markets (www.huntingtonIngalls.com). This company follows The Functions of Management to the tee, Ingalls demonstrate this by its long jeopardy and in how long this company has been alive, production count ability. Planning is a systematic process in which managers make decisions about future activities and the key goals that the organization will pursue (D. Baack, M. Reilly & C. Minnick, 2014). Planning is looking ahead. According to Henri Fayol, drawing up a good plan of action is the hardest of the five functions of management. This requires an active participation of the entire organization. Rick Spaulding is vice president, Central Planning and Process Excellence, for Ingalls Shipbuilding. ......

Words: 422 - Pages: 2

Top Pm Challenge

...Top Project Manager Challenge: Team Motivation Yevhen Grinman Executive Summary Practice to hire profession project manager (PM) to lead projects is becoming more and more popular in organizations. However, project managers’ scope of responsibilities is usually misunderstood. Yet the belief in that project manager is responsible for project’s success and failure is common among researchers. According to PMBOK (2008) successful project is the one that achieved on time, on schedule, and within the budget; this definition of success identifies only variables that need to be addressed, while there are more pieces to successful project management. According to common definition PM is responsible to ensure project’s “timely delivery, adherence to budget constraints, scope, and quality specifications” (PMBOK, 2008). However, successful project management is more than just following presumed project management methodologies and techniques. PM may have necessary skills to guide project team through various stages of project while lack basic people skills that in the future can cause project’s failure. Herein lays major scope of project manager’s responsibilities in meeting project objectives as well as fulfilling team members’ behavioral needs. Some project managers along with researchers tend to overlook less tangible elements of successful project which is team motivation. Top PM Challenge In Fundamentals of Project Management Heagney (2012) reveals that......

Words: 564 - Pages: 3

The Challenges of Trust Management

...The Challenges of Trust Management Your Name CMGT/430 July 10, 2011 Distributed Trust Management What is distributed trust management? Why do business-to-business (B2B) companies like EBay and PayPal have such profitable success with online transactions? Do people trust business-to-consumer (B2C) methods? Have intra-enterprise applications matured to the level of satisfaction that company executives come to expect? These questions are at the forefront of consumers and business minds alike. This paper will focus on the ideas and cornerstones that inter-organizational companies rely upon; namely, trust. All of these questions boil down to trust and the business models we, as a community, have come to expect. The definition of trust, as it relates to the enterprise, is explained this way: A type of expectation that alleviates the fear that one’s exchange partner will act opportunistically (Aoyama & Ratick, 2007). Ratnasingam & Phan define trust as “A psychological trait found in trading partners who are willing to pursue relationships or interdependencies to achieve a planned goal” (Ratnasingam & Phan, 2003). Trust within the business realm becomes something that is taken for granted if there are no checks and balances between both organizations. One has to be careful not to abuse the trust given to a specific company like Cisco Systems or Amazon. Maintaining a competitive and working relationship is paramount to the...

Words: 1312 - Pages: 6