Project Management Techniques and Trends

This assignment delves into the world of project management, examining a range of established and emerging techniques. It explores how business strategies influence project portfolio management and success. The focus extends to the role of control versus flexibility in project environments, highlighting the importance of adaptive approaches like Agile. Additionally, the assignment touches upon the evolving landscape of project management with its ongoing trends and the impact of factors such as innovation and team dynamics.

MANAGING PROJECTS

Contents
TASK 1..........................................................................................................................................................3
1.)Different types of project....................................................................................................................3
2.)Scope management and its tool. ........................................................................................................4
3.)Gantt chart and its critical path...........................................................................................................4
4.)Terms which help to decide project is successful. ..............................................................................4
5.)How to manage minor or major change in plan..................................................................................5
6.)Method to complete the project on time. ..........................................................................................5
TASK 2..........................................................................................................................................................6
Introduction of company ........................................................................................................................6
Outlining the activities required for successful business.........................................................................6
Competence of project............................................................................................................................8
Management process..............................................................................................................................9
REFERENCES..............................................................................................................................................10
Books and journals.................................................................................................................................10

INTRODUCTION
Automotive industry is growing in great manner in modern world. Therefore, it is quite
tough for the business to get stable in market and compete with their competitors and thus large
organization are managing their project in such environment so that they can earn higher profits
and can move further to attain their goal and objective as well (Saunders and Lewis, 2012).
Moreover, large company has the opportunity to expand their business and many criteria of firm
help to do so. The report is based on TSK bearing limited which is manufacturing an industrial
bearing for automotive industry. Company is founded in around 1980 and entity is looking
forward to expand their business and for such firm is investing approx. £12 million pounds. Firm
is working at large scale and they are providing various bearing to companies so that entity itself
can expand their business. Assignment include scope management and Gantt chart is also
included and thus which factors are there that decide business is successful and what method are
included to get knowledge of completing task on time.
TASK 1
1.) Different types of project.
TSK bearing has included various kind of business to complete their project on time and
in proper manner although so that company can attain their profit and productivity (Pinto, Helo,
and Kekäle, 2010).
Manufacturing project: TSK bearing has a manufacturing plant which is producing
bearing for automotive industry so that they can earn higher income and can make themselves
stable in market.

Recruitment and selection: Company is looking forward to expand their business and
for such they are going to recruit and select the best people for job and effective working can be
done or coordination will be seen in environment of firm. Recruitment of person can be done
within firm and somewhere can go outside entity to select some people.
Technology: This is something which help company to expand their business in effective
manner and thus proper training has to be provided to employees of firm so that they can adapt
technology and can work on new machines so that business can manufacture goods and services
in right prospect.
2.) Scope management and its tool.
Scope management is thus refers to set of process which enhances project scope is
somewhere accurately defined and mapped as according to stated. Scope management thus helps
managers and supervisors of entity to allocate the correct amount of work and task to employees
which are required to complete the project in effective way (Polonsky and Waller, 2014). Scope
management and its tool are as follows:
Planning: To have an effective working in organization it is required by company and
their staff to produce an efficient planning which can help them to have an attainment of their
goal and objective. Planning is needed concept as through this whole firm work in same direction
and earning of profit can be seen.
Monitoring: Company has to monitor their whole task and project on regular basis so
that in timing and completion of project can be there. Through monitoring firm can solve issues
where staff is not being able to work in right mannerism (Meskendahl, 2010).
Controlling: TSK bearing should have control on their employees and task so that
effective working can be seen. Controlling is required so that timely task can be completed and
wastage of resources cannot be there and such thing can be used in further project.
3.) Gantt chart and its critical path.
Gantt chart is such which help entity to receive knowledge as which task or project is
taking most of time getting completed. Those task which is taking more time to get done and for
such effective and efficient policy and procedure will be produced so that they can be completed

on time and those task which is taking less time should be encouraged and project which takes
more time will use method to minimize such. Gantt chart normally helps company to have
knowledge and to keep in mind which task is complete on time.
4.) Terms which help to decide project is successful.
There are various terms which help organization to decide that project on they are
working is being successful and those are as follows:
Productivity: In Company if employees and the whole workforce is increasing their
working criteria and performance as such thing lead to increase in productivity of firm and they
can achieve their goal and objective in right contrast. Productivity has to increases so that entity
can earn higher profits in market (Schwalbe, 2015).
Feedback: Firms has to take feedback from their client and customer so that they can
come to know that if any changes have to be made then they can make in right manner and
improvement in quality can also be bought. Feedback can also be achieved from peers and
colleagues as well.
Communication: This concept is the base of any successful project although
communication has to be made in between employees so that effective working can be done in
proper manner and thus communication also help firm to minimize conflict in organization.
5.) How to manage minor or major change in plan.
There are various things which help company to manage and handle the changes in plan
of firm and they are very effective in nature
Training: Organizing a proper training for their employees make them to learn new
skills, knowledge and ability which help them to work in effective and efficient which make
employees to adapt changes and work according to requirement.
Research and strategy: TSK bearing has to make a research so that they can use
information gathered from market in right manner and from such an effective strategy can be
made which will somewhere help to manage the changes in market and project as well and this
can be done in proper manner (Boud, Cohen and Sampson, 2014).

6.) Method to complete the project on time.
It is mandatory for organization to complete their task and work on time to achieve the
success in market and can make they stable in market. The various methods are as follows:
Evaluation: Evaluation of work has to be done in right contrast so that company can gain
a completion of work on time. Evaluation is the thing which helps business to provide quality
product and services to their client and customer although concept has to be done in correct and
accurate mannerism.
Monitoring: Senior executive has to keep their eye on the working scenario of
employees so that effective working can be carried out from such only. Monitoring has to be
done so as to receive the right direction of work and task completion can be there and attainment
of goal and objective can be there.
Controlling: Controlling should be there so that effective working can be seen and thus
control over work is very required. This concept help to complete the work on time and although
this somewhere help firm to attain higher profit in market (Lenfle and Loch, 2010).
TASK 2
Introduction of company
In this competitive world it is required by companies to brought innovation and creativity
in their product and services so that they can earn higher profit and achievement of goal and
objective can be there. TSK bearing is doing same and they are providing bearing to automotive
industry so that they can manufacture in better manner. Bearing has to be in quality nature so that
automotive business can produce a great product. Therefore, company is working successfully in
market from the day it has started producing bearing in year around 1980. Now TSK bearing is
looking forward to expand their business in global market and for such thing they are purchasing
new machinery for new manufacturing site in UK (Too and Weaver, 2014). Project is almost is
of £12 million pounds For such firm has to organize and provide training to employees so that
they can adapt change and somewhere in Asia workers will be trained to receive the knowledge,
skill and ability so new technology can be implemented in proper manner and attainment of goal
and objective can be there in firm.

Outlining the activities required for successful business.
It is required to outline those activities which are helpful in gaining success on business
and make to complete the task on time. To have successful completion of project it is needed to
include various activities which lead to have a proper gain of goal and objective and some of
those are as follows:
Training: This is something which is very required for the employees of company so that
they can work in effective mannerism and they can increase their performance so that firm can
attain their higher profit in easy way. Training help to employees in learning new skills,
knowledge and ability to perform their task in right contrast and somewhere they can use their
learning in future as well. Training does also help employee to learn motivation so that they can
adapt the changes according to firm needs. Therefore there are various methods available for
training to employees it is on organization that which type of they need to provide their worker
(Meredith and Mantel Jr, 2011). Although TSK bearing firm has to provide training to their
employees on regular basis so that they can adapt the changes in easy manner and can go to
know how to work on new technology.
Determination of goal: This has to be determined in proper manner so that employees
can work for particular goal and can work in right format and although correct direction of
working can also be seen. Determination of goal is required and moreover it is required to
communicate the goal of company to employees and motivate them in such manner so that they
can work in effective way and firm can achieve such in great mannerism. Determination help
entity to be committed towards their objective and whole organization as one to attain such
within the time period stated.
Evaluation of task: Evaluation of task is mandatory as such thing help company to know
that work is being done in proper manner or not. Evaluation help firm to know that which part or
what thing needs to be improved in right manner so that proper working can be seen. This
concept is required in company to attain the goal and objective in perfect mannerism. Therefore
the evaluation has to be done in correct contrast as because such thing help to identify as where
are the pitfalls are exactly.

Communication: This concept is the base of anything which is being needed to have
interaction in between the whole organization. Although this thing help firm to communicate
their policy and strategies to their employees and whole staff as in which direction they have to
work in which structure and way (Unger, Gemünden, and Aubry, 2012). Communication is the
backbone of any organization as this help to bring coordination among every department and
smooth functioning of work and task so that entity can achieve all the target is specified to them.
Interaction by top level executives has to make regularly with their employees so that they can
understand their problem and issues as well and can produce a healthy policy and procedure for
them so that they can work in right mannerism.
Feedback: To earn a good amount of profit in organization it is required to have a
feedback in quite period of time. Although this thing help firm to improve their product and
services in right manner so that a large market share can be attained by entity in right mannerism.
Feedback can be attained in various ways like questionnaire, peers feedback and analyzing by
firm itself according to standard set by them to have an effective working (Kelley and Lee,
2010). Feedback also helps to bring positive image of organization in eyes of customer and client
and somewhere this help business to accomplish their goal and objective in proper manner.
Competence of project
Therefore, company is being looking forward to use their competence in right mannerism
so that they can work in proper manner and thus competence is also leads to ability of workers
and employees to have an effective working. Competence of worker and firm has to be strong so
that such thing can be used at right time and competence also helps to adapt various changes
happening in market.
Communication: This is the base o organization although communication is required at
every stage of working in companies so that effective working can be there, interaction among
people in firm and moreover this thing somewhere also helps to minimize the criteria of conflict
in entity. Communication among every department and employees help organization to receive
coordination and collaboration in working format of firm in effective manner. In attainment of
goal and objective communication plays an effective and efficient role (Highsmith, 2013). This
concept is something which helps business to have a smooth functioning of working and with
this task can be completed on time.

Leadership: Leadership is something which is required in firm and although leadership
help company to have a right direction of working. Leaders help employees in their problem and
provide solution to their problem in right mannerism so that they can work in smooth way.
leaders does also help employees and worker of business to complete their task on time an
effective working can also be there as leaders make them to work in right direction. Leaders are
those who motivate and manipulate workforce of organization to adapt changes in company so
that firm can compete with their competitors in right way. Generally leaders analyze the different
situation and then will choose best leadership style which help company to overcome difficult
situation in better manner. Leadership has to be done in proper manner as because this thing
helps company to attain their higher profit with goal and objective.
Team building: This has to be made by firm so that effective working can be there and
having a team work is better than an individual working. Team work provides an effective task
completion of their project. In building team somewhere bring minimization in conflict scenario
of entity and employees work with coordination and help each other in working as this help firm
to attain their aim and objective in right contrast (Brown and Hyer, 2010). Team building make
employees to meet with each other and work together so that they dispute can be ignored and
efficient work can be there.
Risk management: This concept is such which help firm to reduce risk in various ways.
Management of risk is required concept and this thing has to there so that they can work in right
contrast as well. Moreover risk cannot be eliminated as risk can be overcome by business and top
executive already teach their employees and workforce that how they have to face risk and feel
as challenge and face it and overcome such in proper manner as this help company in reduction
of hurdles in working and proper working can be there and goal and objective can be achieved in
right context.
Management process
Managing a successful business with lot efforts requires a great competence to work with
and process is that which has to be executed in proper manner so that company can evaluate their
working criteria in correct format so that they can earn higher productivity with the
accomplishment of goal and objective in right format although management process include
various things which has to be executed in perfect way to get stability in market.

Planning: This is something which has to be done in proper way although it is required
to have an accurate form of working in organization (Schwalbe, 2015). Planning is somewhere
dependent on the research part so that firm can make strategy and decision in right context and
according to such employees follow the instruction and work in effective and efficient way so
company can attain goal and objective. Planning must be done in proper mannerism so that
effectively in working can be seen. Therefore, planning is done for the future purposes and
planning is somewhere used for future prospect only.
Execution: Execution has to be done in right manner and the planning which is being
made for the successfully completion of work. Execution has to be in a systematic manner so
that proper execution of project can be there. Execution in right contrast helps organization to
attain their goal and objective (Oberthür and Stokke, 2011). Moreover planning needs a lot effort
for such top executives and managers ho with research and according to such decision are made
so that effective working and somewhere this leads to expansion of business in upcoming years.
Control: Therefore, control is very much required concept in organization as because
this help firm to decide that which task has to make it on minimizes part. Although control is that
which has to be there on work so that effective criteria of working can be seen. Controlling on
various things should be there as such thing help Company to know that which part is getting
pitfall in task and other so that changes in work and task can be brought up and effective and
efficient completion of task can be there.
Closing: Therefore after the completion of task it is required by organization to control it
in proper manner so systematically everything going to be placed in right format. Proper closing
is totally dependent on the context used in the working so that closing of task can be done in
right manner and thus this thing lead to completion of project over time.

REFERENCES
Books and journals
Pinto, J.K., 2015. Project management: achieving competitive advantage. Prentice Hall.
Saunders, M.N. and Lewis, P., 2012. Doing research in business & management: An essential
guide to planning your project. Pearson.
Larson, E.W. and Gray, C., 2013. Project management: The managerial process with MS
project. McGraw-Hill.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Pohl, K., 2010. Requirements engineering: fundamentals, principles, and techniques. Springer
Publishing Company, Incorporated.
Ajmal, M., Helo, P. and Kekäle, T., 2010. Critical factors for knowledge management in project
business. Journal of knowledge management. 14(1). pp.156-168.
Polonsky, M.J. and Waller, D.S., 2014. Designing and managing a research project: A business
student's guide. Sage publications.
Meskendahl, S., 2010. The influence of business strategy on project portfolio management and
its success—a conceptual framework. International Journal of Project Management.
28(8). pp.807-817.
Schwalbe, K., 2015. Information technology project management. Cengage Learning.
Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and
technology. Taylor & Francis.
Boud, D., Cohen, R. and Sampson, J. eds., 2014. Peer learning in higher education: Learning
from and with each other. Routledge.

Lenfle, S. and Loch, C., 2010. Lost roots: how project management came to emphasize control
over flexibility and novelty. California Management Review. 53(1). pp.32-55.
Too, E.G. and Weaver, P., 2014. The management of project management: A conceptual
framework for project governance. International Journal of Project Management.
32(8). pp.1382-1394.
Meredith, J.R. and Mantel Jr, S.J., 2011. Project management: a managerial approach. John
Wiley & Sons.
Unger, B.N., Gemünden, H.G. and Aubry, M., 2012. The three roles of a project portfolio
management office: Their impact on portfolio management execution and success.
International Journal of Project Management. 30(5). pp.608-620.
Turner, R., 2016. Gower handbook of project management. Routledge.
Kelley, D. and Lee, H., 2010. Managing innovation champions: the impact of project
characteristics on the direct manager role. Journal of Product Innovation
Management. 27(7). pp.1007-1019.
Highsmith, J., 2013. Adaptive software development: a collaborative approach to managing
complex systems. Addison-Wesley.
Brown, K.A. and Hyer, N.L., 2010. Managing projects: a team-based approach. McGraw-Hill.
Schwalbe, K., 2015. Information technology project management. Cengage Learning.
Oberthür, S. and Stokke, O.S. Eds., 2011. Managing institutional complexity: regime interplay
and global environmental change. MIT Press.