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Operational and Project Management : Report

   

Added on  2020-06-04

18 Pages4943 Words34 Views
OPERATIONAL AND PROJECTMANAGEMENT

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Operations management principles........................................................................................1Sig sigma and lean principles.................................................................................................3TASK 2............................................................................................................................................4Continuous improvement.......................................................................................................4Preparation of continuous improvement plan (CIP)..............................................................4Effectiveness of CIP...............................................................................................................5Strategies for efficiently implementation of continuous improvement plan..........................6Organizational theories and tools...........................................................................................6TASK 3............................................................................................................................................6Project life cycle for developing new product........................................................................6A. Business case.....................................................................................................................7B. Project Plan........................................................................................................................8C. Work break down structure................................................................................................9D. Gantt Chart........................................................................................................................9E. Justification for use of project methodologies.................................................................12TASK 4..........................................................................................................................................12A. Review effectiveness of Project Life Cycle (PLC)........................................................12B. Significance of designing and implementing PLC..........................................................13C. Incorporation of cost saving techniques..........................................................................13D. Techniques to ensure quality, scope ad tenure in project implementation......................13E. Theories use between large and small scale projects.......................................................14F. Evaluation of PLC............................................................................................................14CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15

INTRODUCTIONOperation management is considered as management areas that assist manager indesigning, controlling over the operational process so that entity can conduct its business insmooth manner (Kerzner and Kerzner, 2017). Project manager ensure that planning anddesigning impact positive on the operational process so that its efficiency can be improved.Present study is based on XYZ company which is recently working in the manufacturingindustry. Firm has strong reputation in the market and consumers are satisfied with its products.Company aims to enter in large screen television market in order to expand its business and earnmore profit. Current assignment will discuss principles of operation management. It will describesignificance of sig sigma and lean production tools in the operational process. Furthermore,assignment will describe concept of continuous improvement and its effectiveness in order toaccomplish goal of the firm. TASK 1Operations management principlesOperation management (OM) is the essential function of business units, it includesplanning, organizing and supervising activities in effective manner so that operational errors canbe minimized and entity can become able to earn more profit. Manager always work for utilizingresources well so that desired output can be generated (Martinelli and Milosevic, 2016). Ifindividual does not use inputs properly then it may create difficulty in accomplishing objectives.Main principles of operation management in the business are as following:Inventory management: This is considered as essential principle that ensure all involvedpeople have great understanding about inventory and they perform their job well so thatstick can be managed properly. Operational planning: Operation management have to concentrate on effective planningso that future consequences can be minimized. Manufacturing management: Manufacturing needs to be managed in order to minimizegap between demand and supply.Distribution and logistic: Distribution need to be on time so that more demand can beraisedManaging operations: It is another principle that describe that entire operations need to bemanaged properly.1

Randall Schaeffer has given ten principles of OM:◦Reality: This explains that it is duty of operation manager that to concentrate onproblems and implement new techniques that can support in minimizing these issues.◦Organization: Individual has to predict manufacturing process so that positiveoutcome can come out.◦Fundamentals: There is required to maintain records and discipline so thatcomplications can be minimized.◦Accountability: It explains that manager has to check work of subordinates so thatpositive results can come out.◦Variance: This helps in enhancing creativity in business so operation efficiency canbe improved.◦Causality: individual has to find out causes of issues and have to make efforts tominimize these problems.◦Managed passion: All employee need to be passionate and have to put more efforts sothat overall goal can be accomplished.◦Humility: managers need to provide help to employees.◦Success: they have to consider consumer's interest so that they can be satisfied.◦Change: This principle ensure that changes need to be made in business time to timeso that errors can be abolished. XYZ company has strong reputation in the home appliances market. It is able to offersatisfactory goods and services to its consumers as per their requirements (Cleden, 2017). As it isplanning to enter in the large screen television market for that it is essential for the corporationthat to manage its operational process well so that errors can be minimized and input can beconverted in desired output. Project manager has to ensure requirements of inventory formanufacturing large screen televisions, sourcing strategies, aggregate operational planning,advance scheduling, TQM etc. All these phases will assist in identifying errors in the operationalprocess thus, XYZ will be able to make effective strategies for improving operational process(Walker, 2015). Benefits of implementing operational management process in the XYZ companyare described as below:Current performance of XYZ is good but as it is planning to enter into the new market forexpansion thus, it is essential to analysis existing operational performance of business2

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