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Operations and Project Management Essay - XYZ

   

Added on  2020-07-23

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OPERATIONS AND PROJECTMANAGEMENT
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Operation management...............................................................................................................1Six sigma and lean principles .....................................................................................................2TASK 2............................................................................................................................................4Continuous improvements..........................................................................................................4TASK 3 ...........................................................................................................................................5A. Business case..........................................................................................................................5B. Project plan.............................................................................................................................6C. Work break down structures...................................................................................................7D. Gantt chart..............................................................................................................................8E. Theoretical and conceptual idea for use of methodologies..................................................11TASK 4..........................................................................................................................................11A. Effectiveness of project life cycle........................................................................................11B. Importance of designing and implementing PLC.................................................................12C. Cost saving techniques.........................................................................................................12D. Quality assurance techniques...............................................................................................12E. Theories, models...................................................................................................................13F. Evaluation of PLC within theoretical and practical framework...........................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
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INTRODUCTIONProject managements is the process to manage a project from initial phase to completionby applying established procedure and principles (Kerzner and Kerzner, 2017). Project managerstake supports of various tools and techniques in order to meet with the requirement of theproject. Present study is based on XYZ company which offers home appliances to consumers.Company is planning to enter into large screen television market and for that it is required toconduct research and develop product so that it can successfully enter into this market. Currentassignment will discuss six sigma methodology and lean principles. Furthermore, it will explaintheories, models for preparing continuous improvement plan for the business. In addition, studywill include project life cycle so that new product development can be done properly. TASK 1Operation managementOperation management (OM) is most important part of business unit, it is themanagement areas that concentrates on designing, controlling, planning so that issues inoperations can be examined and necessary action can be taken to redesign these operations. OMis the process of converting input into desired output in accurate manner. This function ofbusiness concentrates on tool and techniques that can be applied in organization in order toimprove its operational efficiency (Harrison and Lock, 2017). Principle of OM are: inventorymanagement, operation planning, manufacturing management, distribution and logistic,managing operations. All these principles assist in conducting operations in smooth manner.XYZ company currently engaged in manufacturing, marketing and selling of home appliances. Ithas strong reputation in the market and consumers are highly satisfied. Before entering into thenew large screen television market cited firm is required to look upon its operational process andidentify its suitability for this market (Heizer, 2016). If entity analyses the issues in the businessthen it will be able to take action to improved these aspects and will be able to establish in thenew market. This is possible through managing operations well. Advantage of operationmanagement for XYZ company:OM will help the cited firm in improving its performance factors. As entity has strongreputation in the manufacturing market but if it wants to enter into new market then itwill require to make changes in its operational process and have to make it in suchmanner so that needs of consumers can be improved (Fleming and Koppelman, 2016).1
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Operational management supports in improving condition of the business. It helps inenhancing its profitability to great extent.OM can help the XYZ company in reducing its inventory. With the help of this techniquecited firm can be able to effectively utilized its inventory by this way wastage will beminimized (Verzuh, 2015). It supports in enhancing quality of products and services that can help in raisingsatisfaction level of consumers.It brings innovation and flexibility in business unit. That assists the entity in makingpositive changes in the firm for its improvement.Operation management supports in improving communication in the workplace so thatconfusion can be minimized and entity can be able to provide quality goods to consumers(Turner and Aitken, 2018). Six sigma and lean principles There are various techniques that are used in operational management process. Thesetechniques help the organization in improving efficiency level of operations. Six sigmaIt is the process improvement tool. It concentrates on removing causes of defects so thatquality of output can be improved. It is the approach that enhances demand of quality andincrease tolerance level so that entity can manage its operations well (Hazır, 2015). Six sigma isbeneficial for the present case of XYZ because with the assistance of the firm entity will be ableto provide high quality television products to consumers that will raise their satisfaction level.Benefit of sig sigma are as following:It supports in enhancing revenues of the firm by increasing sales volume.It supports in minimizing cost of operations by reducing wastage.Sig sigma is significant in order to improve efficiency level of operations (Holweg andet.al, 2018).Lean production processIt is another type of technique of operation management. It is the method that paysattention on minimization of wastage without compromising with productivity and quality.Whenever one product is being developed or manufactured then many times duplication ofresources, unevenness in work loads enhance wastage due to which costing of operation get2
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