Operations and Project Management : Assignment Solution

Operation And Project
Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1. Review and critique of the implementation of principle of operation management.............3
TASK 2............................................................................................................................................7
P2 Continuous improvement plan that based on review and critique. .......................................7
TASK 3............................................................................................................................................9
P3 Project Life Cycle with business case, project plan and work breakdown structure ............9
TASK 4..........................................................................................................................................11
P4. Effectiveness of PLC in application of project...................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES .............................................................................................................................13

INTRODUCTION
Operational management is concerned with managing and controlling the core functions
of a firm i.e. converting available resources into maximum output with minimum wastage and
higher productivity. Project management forms an integral part of it as it is set of activities that
ensures success of a particular project by planning, coordinating and controlling each phase of a
project from starting to end (Alhawari, et.al., 2012). Thus, both these process are significant part
of business functions as they plan , implement and mange day to day activities related to project
and aims towards completing it on specific time, within the set budgets and with efficiency so
that it can reap maximum profits for firm.
This assignment is based on XYZ company which is having a well brand image on
market and deals in manufacturing of home appliances. Under this, a brief review about
principles of operational management will given along with a detailed improvement plan for the
company will also be discussed. Further, a detailed Project Life Cycle plan will be designed and
analysed for its effectiveness for the chosen firm .
TASK 1
P1. Review and critique of the implementation of principle of operation management
Operational management is concerned with creating a value for a firm and for its
consumers. It is one of the most crucial and significant function to be undertaken by
management as it deals designing, executing and controlling each and every operations linked
with a firm to ensure that it has maximum efficiency at all stages of product development process
so that desired products could be made by using fewer resources and high standards. It forms the
cornerstone of every business as it manges both strategic as well as routine activities related to
production process (.Burke, 2013).
The major objectives of operational management is to attain customer satisfaction and
optimum utilization of its resources. Thus, by monitoring progress at each level of product
manufacturing it ensures that material, labour and financial all resources are fully utilized
without wastage and minimum errors and that all quality standards are been followed for
manufacturing products as per customer requirements.
Therefore, operational management forms one of the pillars of organization's success. It
is important for XYZ firm to to focus on its operational as well projector management functions.

By applying principals of operation management XYZ is will be able to formulate those policies,
norms, values that will assist firm in determining rightfulness or wrongfulness of its business
actions. As company is entering into new product market, these principles are crucial to be
applied as it will provide required knowledge about the new market by indicating lines along
which research should be conducted, will enable manger to check effectiveness of his decisions
by making his role concrete and thus will contribute in business success
(Eweje, Turner and Müller, 2012). The firms whose management or employees violate these
principals struggles to attain growth in long term. Mentioned below are the most important
principals that are followed by XYZ company while managing its operations:-
Reality- This principal states that it is beneficial and practical for XYZ to concentrate on
understanding and analysing root cause of its problems rather than on searching out or
focusing on tools and techniques to overcome that problem. It is because in reality there is
no technique that can provide a universal solution of every problem.
Organisation- For XYZ to attain success in its new product line, merely conducting all business
functions is not of use , it is of critical significance that all the procedures and activities
should be predictable and consistent with each other with a single objective to attain.
Fundamental- It is important for XYZ to document bills of its materials, maintain accurate
inventory records and other general systems as strict adhesiveness to these fundamentals is
requisite for effective production. It is because it serves as a reference for manufacturers at
the times when performance went wrong or is not up do the mark.
Accountability- This principal states that manager of the XYZ Company in order to get desired
results from its workforce should beforehand describe the expected level of outcome from
each employee and actions associated with their performance level. It includes fixing up of
responsibilities and accountability of each employee for work assigned to him. It is essential
to make them motivated to do a particular task in desired manner (Garel, 2013).
Variance- Value of variance to be set depends entirely on the goal of a firm. Variation refers to
bringing out change in dimensions, process as well as in thinking to bring out something
new, more innovative in its product, process or technique line that can help an organization
to have an edge over its competitors and to maintain its lead in the market.
Causality- This principal states that it is of utmost significance for XYZ company to find out
and eradicate problems by finding out main cause of its occurrence. Until a company doesn't