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MAN6303 The Concept of Program Management

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Program Management (MAN6303)

   

Added on  2020-05-08

MAN6303 The Concept of Program Management

   

Program Management (MAN6303)

   Added on 2020-05-08

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Running head: PROGRAM MANAGEMENTProgram ManagementName of the StudentName of the UniversityAuthor Note
MAN6303 The Concept of Program Management_1
1 PROGRAM MANAGEMENTTable of Contents1. Portfolio Entry 1: Project Vs Program.............................................................................22. Portfolio Entry 2 – Program Initiation.............................................................................33. Portfolio Entry 3 – Program Stakeholder Engagement...................................................54. Portfolio Entry 4 – Program Governance........................................................................65. Portfolio Entry 5 – Program Theory................................................................................8References..........................................................................................................................10
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2 PROGRAM MANAGEMENT1. Portfolio Entry 1: Project Vs ProgramI agree with the approaches set out by Mike Fritz as the definition of the project orprogram is although twisted in case of Megatronic but helps in producing flawless products. Thebounding box concept followed in the organization is quite interesting and effective. The conceptof program in the organization has an aim of delivering new products. The products that arereleased after certain modification including the cost cutting, increasing sustainability is referredto a project. Therefore, the concept of the project and the program is very interesting anddifferent in this case with a clear and effective definition of the same. This is therefore anefficient approach of managing the different processes and operations of product development.The program is planned keeping in mind the requirements and the set boundaries of the boundingbox theory. This ensures the delivery of product within the schedule as the schedule conditionsand the boundaries are very tight in the bounding box concept. Furthermore, the different factorsof the bounding box concepts depend on risk, size and opportunity (Milosevic, Patanakul andSrivannaboon 2010). The approver of the management, which mainly includes the majorstakeholders and sponsors determines the different range of condition that defines the boundingbox. Therefore, the concept of the box depends on the agreement of the stakeholders, whichrelates to the concept of the traditional program management as well. I agree with the setapproach by Mike Fritz because the policies that are proposed consider NPI or new productintroduction as their top endeavor. This helps the programs to win over project. This is a greatconcept that works in favor of the business profit for the organization, as the NPI is responsiblefor increasing the market value and the popularity of Megatronic across the globe. The company Megatronic has an interesting way of distinguishing between projects andprograms. The only advice I want to give to the company is that the their process of
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3 PROGRAM MANAGEMENTdifferentiating a project and the program is very different from the normal definition of these twoentities and therefore the new employees should at first be thoroughly trained about thesemethods. This is essential, as the definition of these common terms is very different inMegatronic (Milosevic, Patanakul and Srivannaboon 2010). Another suggestion that I would liketo give the company about the differentiation between project and programs is that the programdevelopment in the company is subjected to completion of a program within the schedulewithout considering its cost. This can be avoided with a planned approach of project or programmanagement. This is essential because following the traditional approach of developing aprogram, the cost of production may exceed far beyond the limit than expected. This can have anegative effect on the company. Furthermore, completing the project within a constrictedtimeframe may have adverse effect on the product and its development. However, the processand the definition of program and project are very clear and the way they do the works are lucidas well. 2. Portfolio Entry 2 – Program InitiationThe solution that I would suggest is the chemical based security system proposed by theEarly Birds, Ltd. This is because it meets the standard and complies with the law. This is becausealthough it is not the system with the lowest cost, it is a system with a reasonable cost.Furthermore, this system is easy to use to some extent. The company has a prior businessrelationship with this vendor and therefore negotiations may be possible, which result inlowering the cost of the system. The system is needed to be implemented within the next 60 daysand this system is generally delivered within the 30 days of order placement (Milosevic,Patanakul and Srivannaboon 2010). Therefore, it would help in installment of the system withinthe deadline. The most important aspect of this system is that it provides a spraying area of 250
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