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Operations and Project Management Assignment Solved - XYZ company

   

Added on  2020-10-22

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Operations and ProjectManagement
Operations and Project Management Assignment Solved - XYZ company_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3ACTIVITY 1 ...................................................................................................................................3ACTIVITY 2....................................................................................................................................5ACTIVITY 3....................................................................................................................................7ACTIVITY 4..................................................................................................................................12CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................15
Operations and Project Management Assignment Solved - XYZ company_2

INTRODUCTIONOperation management refers to the process of planning, organising and controlling theoperations and routine activities in the most effective and efficient manner. It is concerned withproper administration of labour, machines and materials for attaining the maximum productivityand efficiency. Project management is concerned with the systematic process of initiating,planning, implementing controlling and appropriately ending a specific project for attaining aspecific goal and target in a stipulated time (Akhtar and et.al., 2018) . The present report is going to discuss about the XYZ company that has decided to enterinto another market for which it is undertaking new product development. The study will includean analysis of theories and concepts of operations management, a continuous improvement planfor the organisation. Further, an evaluation of project life cycle will be done along withnecessary supporting documents. Lastly, the report will highlight the appropriateness of differenttheories concepts and models that will help in differentiating between large and small-scaleprojects.ACTIVITY 1 P1 & M 1Operation management is the process of managing the activities of a company in the mostefficient manner. The management has different theories and concept that are discussed below : Six Sigma : It is an method of improving the process of production in an organisation.XYZ company could use this methodology for improving its manufacturing process. Thetechnique helps in eliminating the probability of defects in the products, process or services. It isdata driven technique and uses quality management tools, statistical tools for detecting errors andremoving them. The sigma in the approach represents standard deviation that again represent thedefects in the quality of the product, process or service. One of the model of six sigma is DMAICthat stands for : Define : This aspect states that a project plan must be properly defined such asdefining problems, goals and objectives, strategy for overcoming such issues etc.Measure : This phase is concerned with the measurement of the plan and itsfeasibility. The data is collected and is analysed for drawing meaningfulinformation.
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Analyse : The mentioned phase is all about finding the root cause of the problemsstated in the project plan, that is business inefficiency in terms of product quality,long product life cycle of XYZ company.Improve : The phase is concerned with the improvement in the business, itsproduct or process by identifying the practical solutions for it.Control : The purpose of this phase is to monitor and control the executed planby finding out the deficiency in the actual performance with the standards set inplan. Corrective actions are taken if deviations largely variates from what theXYZ expected.The method is useful and important because it helps in improving the quality of theproducts by detecting them in the manufacturing process. This leads to delivery of better qualityproducts and services to the customers which makes it as a customer driven approach. Ifexecuted successfully, it would lead to great profitability and cost reduction for XYZ company(Ferguson and et.al., 2019).However, implementing six sigma technique is a very complex task, involves cost andtime that less feasible for small-scale organisations. The technique is very rigid as each task hasto be performed in the standardised manner which destroys the creativity and innovation. It alsorequires highly skilled workforce for executing the plan as expected and employing thistechniques would consume lots of resources of the XYZ company in planning and introducingnew products in market.Lean manufacturing : It is a technique of waste minimization within the production ofthe organisation. XYZ could employ this methodology for eliminating its waste in themanufacturing process. It involves designed, manufacturing and distribution in such a way thathelps firms in reducing the waste. Examples of waste are over- production, unnecessary ofmovement of man, materials and machines, defects in quality, unneeded transportation etc. Thereare different principles of lean manufacturing that are mentioned below: Value : This principle states that value is build by manufacturer but it is ascertained bythe customers. XYZ needs to determine what its customers assigns value to its Fridge, gas,washing machines, TV, etc. This would help it in assessing what people are willing to pay for itsproducts. Organisation can reach to customers willing price by reducing waste and cutting costof operations.
Operations and Project Management Assignment Solved - XYZ company_4

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