Lean Project Management Implementation in Bain & Company

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Lean project management
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MEMO
The project can be referred to as the management of the project this is most necessary for the
organizations to have some significant project to achieve the goals of organizational structure.
The concept of the lean project is basically to take an overlook of the working structure of the
project. Our consultancy Bain & company has adapted the strategy of lean management to make
the productivity of their organization more effective and efficient. The memo includes brief
information about lean management and also describes its importance and consequences.
The initial reason for implementing lean project management
According to the author (Brioso, 2015), the foremost reason of applying the lean project
management is that it provides the advantage to the organization to determine the needs of
resources and also determines the current requirements which need to be fulfilled by time.
Another benefit which organization Bain & company can achieve from the lean management
project is about the risk management as this is the concept which critically evaluates the entire
structure of work culture of the organization and these critical evaluation helps to determine the
risk. If the organization can successfully determine the risk so it will be easy to make a risk
management plan and the plan will secure the structure and growth of the organization. Another
benefit of lean project management is that it provides the ideas and strategies to determine and
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TO All staff
CC Board of Directors
DATE 1 May 2019
SUBJEC
T The Introduction of Lean Project Management
(LPM) principles to secure government work

understand the accurate time balance to fulfil the project (Sreedharan & Sunder 2018). The time
management is the most necessary essential to develop and evaluate a successful plan and this
benefit can be gathered by the use of lean project management. Thus, the project management
plan helps to determine some policies to make a successful structure of the organization
Benefits to stakeholders
The stakeholders of the organization can be referred to as the people who directly or indirectly
interact and effects with the working structure of the organization. The examples or types of
stakeholder are different and depends on the needs and requirements of the organization. The
example of stakeholders is like creditors, employees, investors and so on. The stakeholders
directly deal with the organizational structure and lean project management helps to determine
some essential approaches which can help to access and understand the concepts and needs of
various stakeholders (Sohi, et. al., 2016).
Government: The government plays a very important role in the development and structuring of
the organization. As many of the laws and policies of the organization depend sand maintains by
the government. The lean project management helps the government to determine the concepts
which help to make the policies about taxpayer and funding operations. The other benefit of lean
project management is that it provided a specific structure to the working structure of the
organization (Gao & Low, 2014).
Owners: The owners or holders can be referred to as the leaders of the organization as they are
the base of the organizational structure. The owners defiantly need to apply some good and
effective strategies which helps them to set a benchmark for others. The lean project
management provides some different policies which help to determine the strategies to make the
organizational structure more effective.
Investors: The Bain & company is a well-established organization of UK. The organization
always had tried to attain some strategies and ideas to make the investors attractive towards the
productivity of their organization. The investors are the most necessary elements of an
organizational structure as they provide the base to the financial structure of the organization.
They can be taken as the only path for the organization to create and maintain their resources.
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Employees: Employees are the most necessary part of an organization as they are the base for
the working culture of the organization. The employees are the major elements of project
management. The LPM helps the employees to understand and determine their significant
working roles in the project management (Tenera & Pinto, 2014).
Critical success factors of lean project management
This is determined that the concept of lean project management is beneficiary for the growth and
development of an organisational structure but the major concern is about the accurate way to
implement the plan. The implementation of the plan makes a very big impact on the success ratio
of the plan. As to make the plan is not that hard to implement it so is the organization Bain &
company want to achieve the advantages of the plan this is most necessary to define and
comprehend the success factors of approaches.
Understand the lean program: To evaluate or attain the approach the most necessary thing is to
understand and determine the significance of the plan. This is a very common thing that the
strategies can only be implemented if one will know the way to implement them. So to get the
success in the project the first and major concern is to understand the project in brief (Brioso,
2015).
Appropriate training to the employees: As the employees are the key elements who will
implement the idea in the real world entity so this is also very necessary to make them
understand about the actual and correct demands of the project. Each employee of the
organization shares some different abilities and skills and this is not necessary that everyone can
achieve the acceptations of the project immediately. So if the employer wants to achieve growth
so this is most necessary to make the employees understand about the whole project (Sreedharan
& Sunder 2018).
Implementation of good approach: The further step which is necessary to make the LPM
successful is to make some strategies to implement the plan in a significant way. As the
strategies will provide a sequential structure which helps to determine the overall concept of the
project plan. The further need which it includes in the regular and active communication which
helps to obtain the major requirement of project management.
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Allocate resources: This is also a major concern that to implement the plan in a significant way
the resources are most necessary as these are the elements which help to transform the image into
reality. The other concern is about the determination of required resources (Sohi, et. al., 2016).
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References
Brioso, X. (2015). Integrating ISO 21500 Guidance on Project Management, Lean Construction
and PMBOK. Procedia Engineering, 123(C), 76-84. https://www-sciencedirect-
com.ezproxy.cqu.edu.au/search/advanced?docId=10.1016/j.proeng.2015.10.060
Sreedharan V, R., & Sunder M, V. (2018). A novel approach to lean six sigma project
management: A conceptual framework and empirical application. Production Planning
& Control,29(11), 895-907.
https://www-tandfonline-com.ezproxy.cqu.edu.au/doi/abs/10.1080/09537287.2018.14920
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Sohi, A., Hertogh, M., Bosch-Rekveldt, M., & Blom, R. (2016). Does Lean & Agile Project
Management Help Coping with Project Complexity? Procedia - Social and Behavioral
Sciences,226, 252-259.
https://www-sciencedirect-com.ezproxy.cqu.edu.au/search/advanced?docId=10.1016/
j.sbspro.2016.06.186
Gao, & Low. (2014). The Last Planner System in China's construction industry — A SWOT
analysis on implementation. International Journal of Project Management, 32(7), 1260-
1272. https://www-sciencedirect-com.ezproxy.cqu.edu.au/search/advanced?
docId=10.1016/j.ijproman.2014.01.002
Tenera, A., & Pinto, L. (2014). A Lean Six Sigma (LSS) Project Management Improvement
Model. Procedia - Social and Behavioral Sciences, 119, 912-920. https://www-
sciencedirect-com.ezproxy.cqu.edu.au/search/advanced?docId=10.1016/
j.sbspro.2014.03.102
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