Operation and Project Management - Assignment
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Added on 2020-07-23
Operation and Project Management - Assignment
Added on 2020-07-23
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Operation andProject Management
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................3P1. Review and critique of the execution of operation management principles ........................3TASK 2............................................................................................................................................6P2 Develop a continuous improvement plan based on the critique and review of principles ofoperation management ...............................................................................................................6TASK 3............................................................................................................................................8P3 Discuss each stages of product life cycle producing necessary documentation for projectcompletion. ................................................................................................................................8TASK 4..........................................................................................................................................11P4 Review and critique the effectiveness of PLC ....................................................................11CONCLUSION .............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTION Operation management is considered as a fundamental function of every businessenterprise that helps in designing and controlling the production process and redesigningbusiness operations in manufacturing of goods and services (Antonio Martins and RamosMartins, 2012). It ensures that all business operations must be efficient enough in context ofusing available resources optimally when needed and effective in terms of satisfying customer’srequirements. It is mainly associated with entire production process that converts raw material,labour and energy (input) into final goods or services (output). The chosen company for thisassignment is Haier that mainly deals in production of electronic goods like washing machine,refrigerators, etc. Selected entity wants to expand its business operations and thus, wishes toenter into new market by offering a large sized television of 58 inches. The report covers critiqueand review of operation management principles and application of product life cycle by usingsuitable concepts or theory. TASK 1P1. Review and critique of the execution of operation management principles In every organisation, there is an administration department or team that effectivelycontrols and handles all firm’s activities and operations. The term “Operation Management”refers to the business practices that develop highest level of efficiency possible within company.It is primarily concerned with converting input into output that effectively fulfils the customer’sneeds and expectations. It helps in controlling the overall business cost and ensures utilization ofavailable resources in an optimum manner. Management formulates different strategies so as toattain the effective outcomes. Operation Management chiefly deals in controlling and designing the process ofmanufacturing and redesigning of business activities. It is one of the important functions incompany along with supply chain, finance, human resources and marketing. For managing firm’sactivities in an appropriate manner, different kinds of decisions are framed by its operationalmanagers regarding products and process design, inventory control, quality management,facilities planning, capacity and operation strategy (Beringer, Jonas and Kock, 2013). Each ofthese aspects needs to be evaluated as per the current situation prevailing in market andidentifying the best possible solution that leads to improve overall effectiveness and efficiency ofproduction process. Some of the common principles that Haier Group Corporation follows are
mentioned below which help in execution of management planning for producing and offeringhigh quality products. Principles of Operation Management: Discussed below are some of the key principles ofoperation management that help in executing plan of action systematically: Reality: The concept of operation management mainly lays stress on problem rather thantechniques or because no tool in itself would depict a universal solution. Organisation: The process of production is inter-linked. In order to achieve higher profits,all factors associated with production process need to be predictable and consistent(Blomquist and et. al., 2010).Fundamentals: Pareto principle is applicable in operation management. According to thePareto principle, it has been believed that 20% of the firm's profit and success driventhrough application of new process and methods and 80% from strict adherence toexactly keeping disciplines and records. Variance: Variance of any business needs to be managed well. If it is properly managedthen it can be considered as a great source of creativity which can be beneficial forcompany. Accountability: The primary duty of any manager is to set and define roles andresponsibilities of their co-workers or subordinates. Also, they are required to checkregularly whether their sub-ordinates are effectively accomplishing pre-defined goals ornot. And also they ensure whether are putting efforts or not. Causality: Problems are the symptoms and effects of underlying causes. Therefore,management needs to pay attention towards them so as to eliminate them from the rootcause and it never appears again in company. Managed Passion: Passion of employees can be considered as the main driver ofcompany's growth and it is essential for managers to introduce. Humility: Instead of using trial & error method that is very costly, managers of Haierneed to acknowledge the limitations and the way to get assistance and move on (Brauersand Zavadskas, 2010).Success: Success of any firm depends upon how effectively they fulfil client'srequirements and needs. The main objective of any company is to offer such goods and
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