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Operations and Project Management | Assignment

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Added on  2020-12-24

Operations and Project Management | Assignment

   Added on 2020-12-24

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Operations andProject Management
Operations and Project Management | Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Implementation of operation management principles............................................................1TASK 2............................................................................................................................................4P2 Formulation of continuous improvement plan.......................................................................4TASK 3............................................................................................................................................7P3 Application of each stage of project life cycle.......................................................................7TASK 4..........................................................................................................................................12P4 Effectiveness of PLC............................................................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
Operations and Project Management | Assignment_2
INTRODUCTIONOperation management can be defined as the area of management in which managers areconcerned with designing and controlling procedures of different business operations in whichgoods or products are manufactured. Project management is the practice of executing variousactivities such as initiating, planning, executing, controlling and closing of work which isassigned to a team in order to attain all the business objectives (Bamford, Karjalainen andJenavs, 2012). It is very important for managers to manage both the major elements oforganisation so that business can be operated effectively. The organisation which is selected forthis project report is HotPoint which manufactures different types of home appliances such aswashing machine, fridge etc. Now it has decided to enter in large screen television market.This report covers various topics such as evaluation of appropriate theories and conceptsand analysis of effectiveness of continuous improvement plan with the help principles ofoperation management. Apart from this, critical evaluation of each stage of project life cycle,formulation of different documents and use of appropriate theories, concept and models in PLCare also discussed under this report.TASK 1P1 Implementation of operation management principlesOperations management is an activity in which activities that are required to operate abusiness are controlled, monitored and analysed in order to make sure that all of them areexecuted appropriately or not. A HotPoint has decided to enter into large screen TV market andthe minimum size of its TV will be 58 inches. For this purpose, targeted customers will be ownerof stadiums, parks etc. In order to analyse effectiveness of this plan manages are going toimplement different types of tools such as six sigma, lean principles etc. All of them aredescribed below:Six Sigma: It is an approach which is used by business entities to identify defects anderrors in their manufacturing processes and then try to remove them so that best quality productscan be delivered to customers. It is mainly concerned with requirements of clients which isassessed with the help of extensive measurements and statistical analysis. There are five differentelements if this approach which are known as DMAIC (Determine, Measure, Analyse, Improveand Control). It is very important for HotPoint to take all of them in to consideration so that1
Operations and Project Management | Assignment_3
appropriate information can be gathered for the purpose of launching new TV in to market. Allof them are described below:Define: This is the first stage of in which managers of HotPoint are required to identifyissues in manufacturing process and then resolve the same. With the help of this stagethey will be able to formulate strategic decisions in order to resolve them. If they are notable to recognise problems then it can create rigidity which may result in delay inlaunching or TV.Measure: At this stage management of HotPoint will measure the problems and its sizewhether it is huge or a small error. It is helpful for them to monitor that operations infuture will be operated appropriately or not. When they won't be able to measure the sizethen it will become difficult for them to find best solution for the issue.Analysis: In this stage staff members of HotPoint analyse that that their proposestrategies are effective or not. This can help them to overcome the situation which isaffecting operations. Negative aspect of this principle is that organisation is not allowedto introduce a new tool or method whether it is effective or not. Company has to use itsold strategies (Dutta and Bose, 2015).Improve: According to this principle top executives make improvements by reducingerrors and mistakes that were identified. It helps to make sure that all the issues areresolved and operations can be executed without any interruption. When appropriateimprovements are not implemented then it will affect whole organisation and its newlaunch. Control: This is the last element of six sigma approach in which proposed solutions areimplemented and controlled so that in future development opportunities can be acquired.If managers are not able to follow up the implemented solutions then worst situations likehuge losses can be faced by organisation.Lean principles: Such type of principles are followed by organisations to deliverperceived values to customers (Lean principles, 2018). There are five different lean elements ofit that are going to be implemented by managers of HotPoint while launching new large screenTV in the market. All of them are as follows: Determine value: Managers of organisation are mainly responsible for determiningappropriate value for the products. It helps to meet customer’s expectations so that higher2
Operations and Project Management | Assignment_4

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