Are project managers the new superheroes by Ruth Le Pla
Summary
Coupled with the rapid changes taking place in the business world are equally significant changes taking place in the workforce and how it values jobs in relation to careers. Somewhat in reaction to the employer's lack of loyalty to the worker is the worker's lack of commitment and loyalty to its employer. Mergers, acquisitions, and stockholder loyalty have led to widespread downsizing and layoffs and have contributed to the worker feeling more like a commodity than an asset (, & , 2001). No wonder people have evolved to a position where the decision to change jobs is based more on immediate gratification from 10 percent to 20 percent salary increases and signing bonuses than on any professional advancement that may result from the job change. While people understand the temptation of job-hopping for financial gains, which is a short-term perk, people are more concerned about the long term impact on their professional development. Project management is facilitation of the planning, scheduling, and controlling of activities needed to accomplish objectives. These objectives include cost, performance, time, and scope (, & , 2001).
Project managers are always making trade-offs between these four objectives. It is very common that senior managers try to assign values to all four of them, yet people know that in an equation with four variables, only three can have values assigned. The fourth will be whatever the equation says it will be. This means that project managers will often have to negotiate with others to establish a balanced cost equation. Not everybody is destined to be a project manager. And for those who want to be one, there are several variations of project manager to consider. It will take a very special set of skills regardless of the type of project manager someone wants to be. Furthermore, the type of project one wants to manage will require a set of skills particular to that type of project. The good news is that these skills can be acquired with patience and initiative on the employees’ part (, & , 2001).
To be effective a project manager's interpersonal relations, which include problem solving, decision making, and conflict resolution, are now part of their responsibility. In other words, as a team leader they could focus internally on the project, but now, as a project manager, they have to focus also on the external aspects of the project (, & , 2001). The article Are project managers the new superheroes by Ruth Le Pla started by comparing Project managers to superheroes wherein they wear their pants first before their trousers. She narrated that project managers and project management provide a great service to a company in such a way that they make sure that the quality of a project is maintained and poor performance is exposed and given proper actions. Ruth Le Pla stated her article that project management is a core competency of managers wherein it is a mechanism to get the job done. The article also promoted other changes done to the company and managerial career path by project management.
Evaluation
A review of the traits of the ideal project manager demonstrates that great demands are placed on project managers. In fact, they are traits that people do not even expect the CEOs of certain great corporations to possess. No project manager scores strongly on all the desirable traits. The great majority of them are quite weak on most of these traits, and this contributes to the problems encountered on so many projects. But the more desirable traits project managers possess the more effective the managers will be. Salaries of average project managers are not particularly elevated (, 2002). They are typically in line with salaries offered to middle managers occupying responsible positions. However, salaries of high-performing project managers are generous, occasionally higher than salaries paid to company vice presidents. These top-gun project managers typically have a ten-year track record of successful delivery of large and complex projects. What the high wages are buying is confidence that the selected project managers will carry out their chores effectively on high-value projects (, 2002).
As projects grew more complex an interesting phenomenon arose rather than entrust the project to one person some organizations established co responsibility teams. The rationale underlying the creation of co responsibility teams is simple no project manager will have a grasp of the knowledge needed to bridge the technical and business issues today's complex projects encounter. The chief concern of adopting this approach is that it goes against the management principle that in carrying out work efforts, responsibility must reside in one person (, 2002). Experience shows, however, that once the co managers get beyond the question of who's really in charge and learn to trust each other's abilities and appreciate that they can achieve more collectively than when working alone, the co responsibility teams work well. The idea that all responsibility must ultimately rest with a single individuals is one of the most cherished principles in management thinking. This is particularly true in project management, where project managers are seen as the key to delivering successful solutions. However as organizations gain more experience using cross-functional teams to carry out projects, they may also develop skills in sharing responsibility among multiple players. If this happens, then the rise of co responsibility teams appears inevitable (, 2002).
The article was a source of information on how project managers contribute to the company. It showed the different things that made project management popular to various businesses. The article comprised of different ideas of different people on project management. The article showed the positive and negative things businesses say about project management and how it created changes in their business. The bad thing about the article was it did not provide much focus on why the project managers should be compared to superheroes. In the beginning the article contained some sort of attribution of project management to superheroes but it did not follow it up to create a better understanding of such idea.
Assessment
The article Are project managers the new superheroes by Ruth Le Pla helped in providing a wider view on project managers and the things that they do to a company. Through the different ideas shared in the article a clearer view of project managers is seen. The ideas act as practical testaments on how project managers impacted the business and the industry. The article gave information on why project management is being liked by most companies and why it is a new trend in the business world. The article carefully explained different benefits of project management from different people’s points of view. The author of the article followed this explanation with different statements from different people that made the benefit claim stronger. The article showed that project managers have a high price to pay in doing their jobs. They sacrifice different things just to be able to reach their goal for the company.
Not all project managers undergo a good career path when they take such position. Some get promotion from accepting such job; others become too much attached to the job that they don’t get other better positions. Moreover the article showed surreys and other studies that helped in explaining the changes done by project management to companies. This strengthened the importance of project management to the society. It provided basis on how project management should be enriched more so that it can provide a better service to the company and so that project manager can be prepared for any changes that can make negative effects in the future.
Cost Overrun? Call in a project manager by Amit Roy Choudhury
Summary
Projects are fraught with risks of many kinds. When the project contract is finalized, many factors will have been considered and an agreement about the risk assumption will have been reached. There are three prime risks associated with project construction and completion. Generally, they are described as cost overrun risk, risk of delay, and technical risk. Cost overrun risk refers to the fact that many projects are finished significantly over estimated cost (, 1997). To avoid cost overruns that must be financed from additional capital from lenders or investors, the contract should provide incentives for project completion by or before the targeted completion date and within the estimated cost. Some contracts contain bonuses for completion at or below estimated cost and penalties for completion over budget. Of course, the bonuses and penalties must take into account cost overruns resulting from a project sponsor or other administrative change of the original project orders or plans, detrimental weather conditions, or civil insurgency and citizen unrest that cause a project work stoppage or slowdown (, 1997)
Change orders often cause cost overruns. The general project manager cannot control change orders, inclement weather, or external civilian or military insurrection or disturbance at or near the project site; however, the project control managers can control, to a great extent, project work leading to project completion. If the cost of the completed project comes in over budget, the sponsor must raise the additional funds. The lenders must be asked to advance more money under new or existing loan agreements. They generally will be reluctant to do so since cost overruns generally mean lower yields if the projected profits and net cash flow remain the same (, 1997) Project investors may be asked to contribute more equity whether the lenders do or do not advance more funds. When project completion is delayed, generally, from the investor and lender's points of view, investment yields will decline. Interest payments will rise in total. The lender will require more compensation for monies that are used by the borrower for a longer period. In order to lengthen the loan at the original or a higher amount the lenders may require higher rates for the higher risk (, 1997).
The article Cost Overrun? Call in a project manager by Amit Roy Choudhury provided an insight on what project management can do to cost over runs. The article narrated that most projects have cost overrun. The article narrated how project management can provide solutions to cost overruns and neglected scheduling committed by software projects. The article narrated what will happen in the meeting by leading business executives in Singapore. The article discussed how the meeting was initialized and how it is important in determining the importance of project management in preventing cost overruns. The article gave its focus on Project Management Institute its role in the meeting, its desire for project management and its agenda in distributing to people the benefits of project management.
Evaluation
One major responsibility of many project managers is developing and adhering to a budget for the project. Often they will be rated a success or failure as project managers according to whether the project comes in under, on, or over budget. Overshooting the budget can have serious consequences for project managers and the organizations in which they work. Consider a project that is funded through a contract: a cost overrun may lead to litigation, penalties, and financial losses for the performing organization (, 2003). If the project is funded internally, an overrun may lead to a serious drain of scarce organizational resources. In view of the importance of budgeting, it is not surprising that many organizations focus much of their management attention on that area. Consequently, many organizations have well-developed budgeting techniques that are custom-made for the organization's particular environment and operating. Project costs are typically composed of four components: direct labor costs, overhead, fringe benefits, and auxiliary costs. Direct labor costs are determined by multiplying the workers' hourly wages by the amount of time that they are expected to spend on the project. In most service projects, which are not capital intensive, direct labor costs are the largest component of project costs (, 2003).
Project controls have two components to it: analysis and action. Up until now, people have been talking only about the analytical aspect of control. People have seen that by using planning and control tools such as Gantt charts, cumulative cost curves, and resource histograms, they were able to determine the extent to which the project is achieving its schedule, budget, and resource targets. If the variances between what was planned and what is actually transpiring are small, then the project is seen to be under control. If the gaps are large, then planning targets are not being achieved and steps might need to be taken to bring the project under control. The action aspect of control has people taking steps to handle unacceptable variances. If schedules are slipping, they need to figure out how to get the project back on schedule. Or if cost overruns are being incurred or insufficient resources are being employed, they need to take steps to get back on target (, 2003).
A common feature of projects today is that they are under funded. In order to receive support for projects, their champions often offer excessively optimistic estimates of what they will cost. The low-ball estimates make them appear attractive. But once the project is under way, it becomes obvious that it cannot be carried out within the approved budget. Cost overruns ensue, and the project team is pressured to get costs under control (, 2003). The article provided a definite need for project management for businesses to avoid encountering cost overruns. It showed through practical examples the importance of project management to the control of cost overrun. The article made sure that doubters of project management can be given a situational proof of how it can create changes to the business. The article showed the newer heights of project management and how its benefits are being discussed in other parts of the world.
Assessment
The article Cost Overrun? Call in a project manager by Amit Roy Choudhury gave an idea on cost overrun and how project managers could control it. The said article explained how cost overrun happens in a company and then it provides details of how it can be given solution by project management. The article provided an actual example of how project management is being spread to various parts of the world. Project management is not only a trend but a newer need for businesses all over the world. Through the definite example ideas that involves project management being an important part of business operations becomes strengthened. Moreover the article helped in analyzing how project management can help in lowering the instance of overrun cost. The article contributed to the knowledge about Project Management Institute (PMI), its history, its goals, its representation in most parts of the world and its contribution to society.
The PMI was the main advocate for project management because it believes in what it can bring to the company. PMI is the leader in setting standards and conducting researches that will strengthen the project management profession. It partnered with private and public corporations to solve problems such as cost overruns. This gave PMI all the information it needs to boast about the importance of project management to businesses. PMI’s information comes from the different experiences and situations encountered by their partners with regards to project management.
Seattle’s Big Projects need expert managers by Benjamin Minnick
Summary
In Seattle the economy is organized around Weyerhauser as the dominant resource sector company, Boeing as the dominant industrial employer, Microsoft as the leading services firm, the Hutchinson Cancer Center as the progenitor of a series of biotechnology firms, and the Port of Seattle as the transportation hub. Core firms or institutions are embedded non locally, with substantial links to suppliers, competitors, and customers outside the district. Internal scale and scope economies are relatively high, and turnover of firms and personnel relatively low except in third tier suppliers or in major downturns in hub industries (, & , 1999). Key investment decisions are made locally but their consequences are spread out globally. In Seattle there are at least five distinctive industry groups natural resource processing, port-related activity, the aircraft industry, the software industry, and the infant biotech industry. Although each benefits from agglomeration factors contributed by the others, no very strong links were detected across the sectors. Regions with greater or lesser dependence upon one or a few key industries can be contrasted using portfolio theories of regional development (, & , 1999).
To explain Seattle's success and vulnerabilities, it is vital to examine the placement of each hub organization within its developmental trajectory and stress the role of corporate strategy and government policy, based on site interviews with over five dozen firms, local economic development informants, and Seattle watchers. Seattle's long-term success is a function of the ability of a hub emergent in one era to tolerate and encourage the development of other, relatively unrelated hubs, either actively or at least passively, through its provision of agglomeration economies. The region's robust employment growth is also a function of successful diversification into new activities. Although the aerospace industry is indeed the single most important employer, with extraordinarily high location quotients and levels of employment a number of other industries have either traditionally or recently developed a strong export base(, & , 1999). Resource-based industries, particularly forestry and to a lesser extent fishing, are still quite prominent in the regional economy, but are not generating net new employment. The port, another traditional industry, has grown rapidly and has become one of the West Coast's premier entry points for goods from the Pacific Rim. The port itself forms the core of yet another hub-and-spoke structure (, & , 1999).
The article Seattle’s Big Projects need expert managers by Benjamin Minnick was about the projects that Seattle area was preparing for. According to the article the projects will be successful if there will be proper management on it. The article narrated different cost of problems in Seattle that made it hard for projects to be successfully completed. Moreover the article provided insights on how project management is greatly needed by Seattle so that it can complete its projects and use it to improve its economic standing. The article gave insights of some people in Seattle with regards to how project management can help them.
Evaluation
One of the best ways that managers can increase the level of motivation among subordinates is to be effective leaders. Leadership can be defined as a process of influence in which the leader is able to get the follower to stay on a prescribed path toward the attainment of specific goals that are desired by the leader. Thus, by definition the art of leadership is an important part of effective management. The art of leadership may be inherent within the individual. If leadership can be acquired through education and training it may be the most difficult thing to learn (, 2003). Managers in the professional environment are likely to have specialized training and are often preoccupied with the technical or scientific aspects of subordinate jobs. Consequently, they may pay little attention to the development and application of leadership skills (, 2003). When overall organizational success is related to leadership qualities, it is clear that effective leadership can and does make a difference Leadership qualities assume great importance in the professional work environment because professionals are highly sensitive to how they are managed (, 2003).
A categorization of leadership types can be established relating to the institutional settings within which leadership is exercised and which allow or prevent feasible leadership action. Leadership styles by contrast can be categorized according to the actual behavior of leaders faced by particular situations. The leadership component is not much easier to identify. Traditional organizational culture is sometimes expressed in terms such as risk aversion, inertia, hierarchy and sometimes political clientelism (, & , 2004). Leadership styles associated with this kind of political culture are far removed from the values and expectations which might be linked to an effective complementarily between leadership and community involvement. A range of leadership styles may therefore be appropriate for joint working dependent on the personal characteristics evident in the leaders reflecting the degree of charisma, commitment, persuasion, ambition etc. which rest within any individual (, & 2004).
The article provided a background on why projects were not successful in Seattle. It showed the different cause of project failure in Seattle. The article provided examples of companies that were affected by project failure. There were different business affected by project failure and the effects to this business caused them a lot of resources. The article provided a list of companies that have been successful because their projects were managed well. The successful projects gave added reason for project management be considered by Seattle and its government. Moreover the article provided what are the other things that should be done aside from project management so that success can be acquired. The article showed suggestions that can help in making sure that projects will be a success, these suggestions concentrated on technical issues on the project. On the other hand the article. Lastly the article did well in suggesting how the government can contribute to solving the problem. It mentioned that the government needs to pay qualified employees to succeed.
Assessment
The article Seattle’s Big Projects need expert managers by Benjamin Minnick showed the relationship between effective management and project success. Without an effective management and leadership styles no project will be completed and those projects that were completed may not pass the standards set by the company. The article helped in understanding the concept that political problems can be a source of failure for projects. The article clearly described what will happen if politics keeps meddling in projects without proper guidance of project management. Moreover the article discussed that governments should hire project managers who are experienced in the kind of project they are overseeing. Project management will not work if managers are not knowledgeable about the project they are guiding. Putting project managers that knows about economics into projects that are purely technical in nature would cause the failure of such projects.
The article addressed the need for performance measurements during project making. Performance measurements help in knowing whether the people working in the project are capable of doing their task and if they can finish such task at the fastest time possible. Lastly the article provided a short history of project management and correlated it with the different effects of project management to construction and other kinds of projects. Throughout history the importance and effect of project management was felt, this makes it distinct from other techniques used to gain project success.
References
0 comments:
Post a Comment