Comprehensive Report: Management Operations and Project Strategies

This report provides a comprehensive overview of management operations and project management, discussing key concepts and techniques. It begins with an introduction to operations and project management, emphasizing the importance of efficiency and meeting project requirements. The report then delves into project overview, exploring resource allocation, shareholder roles, and the conversion of raw materials into finished goods. It covers business planning, strategic planning, and marketing plans. The report examines cost management, including resource analysis, budgeting, and cost control. It also explores various project time management techniques like traditional project management, waterfall project management, and PERT. Additionally, the report discusses project risk management, highlighting its significance in identifying potential problems. The report concludes by summarizing the key findings and providing references for further study. The report emphasizes techniques for achieving business objectives, increasing market share, and managing project components. It also underscores the importance of effective planning, resource allocation, and risk mitigation in achieving project success. The report provides a detailed Gantt chart for project timelines and dependencies.

Management Operations and
Projects

Table of Contents
INTRODUCTION...........................................................................................................................3
PROJECT OVERVIEW..................................................................................................................3
PROJECT COST MANAGEMENT................................................................................................5
PROJECT TIME MANAGEMENT................................................................................................6
PROJECT RISK MANAGEMENT.................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Operation management can be regarded as the business practices which are carried out in
the entity to create efficiency within the organisation. The employees of the firm have to convert
material into finished goods so that they can attain maximum profit in the competitive market
(Bozarth and Handfield, 2016). Project management is application of knowledge and skills so
that they can meet requirements of the project. In this report, discussion upon different planning
technique and the project management techniques which can be used by the employees in a
different situations.
PROJECT OVERVIEW
Operation management is the process where resources can be used properly within the
defined system so that they can combine and transformed the values which can be controlled
easily and by that they can use the appropriate policy which is communicated by the
administrative bodies of the business entity. The administrative process of business helps in
generating highest level of efficiency by using the available resources. Proper management of
operations helps in converting raw material into finished goods which assist in achieving profit.
The company members have to do proper control which includes cost, quality as well as
inventory levels (Langabeer II and Helton, 2015).
The main key objectives of the business entity which they have to achieve that is the
market share should be increased by 15%. They have to attain maximum profit by providing best
services to the consumers.
The manager have to make appropriate schedule so that they can do the proper work on
the scope, time as well as quality and by that they can provide best services to the consumers. It
includes the boundaries on the projects so that they can deliver best products. Along with this
they have to use the work breakdown structure so that they can manage the workload and also
manage all the work so that they can attain the success.

Shareholders or directors are having a main role and they are responsible for managing
the some status and also manage and supervise the management. Moreover, shareholders can
make the investment decision on the basis of financial condition of the company.
Resources are those which help in production process which includes human, material
and capital inputs etc. The staff members of the business entity have to use upgraded technology
by using the resources to make the best products. They can use proper tools in making the
products which supplies to make the merchandise so that they can attain the maximum value.
Capital is a store of values which assist in regulating the flow of the other resources. Capital
includes the stock, bonds as well as taxes and contributions which help in attaining the maximum
profit. When they use the appropriate resources then only they can do the proper management of
operations.
By doing the proper planning, the business entity members can manage the operation
which is done in the company with effectiveness which can help in attaining the targets. They
have to use proper system so that they can do appropriate arrangement of components which are
designed to achieve objectives according to the plan. Proper planning in the organisation helps in
identifying problem with the less data and by that they can resolve the problems. By using the
system, the employees can achieve the objectives which is depend on its design and control
(Todorović and et.al. 2015).
Every company members have to do appropriate planning which helps in doing the
proper management. Planning is a business responsibility because the firm have limited time and
personnel resources. There are different tools and techniques which can be used by organisation
while doing appropriate planning.
Primary planning types – Business planning depends on size of the company and industry.
There are three basic plans which can be used by the organisation so that they can do proper
planning whether the business entity having large as well as small business. These plans can be
used by the profit or non-profit firm which helps in understanding the goals along with the
components by using the tools so that they can create the effective plans which help in attaining
the aim (Stadtler, 2015).
Business plans – In making the business plans, company members have to do proper
research in the market. Along with this, the description of the product and services so that they

become successful in providing the proper services. By doing the proper planning, they can fix
their budgets for making the best products.
Strategic plans – These plans can be created by the business owners and are based on
historical data and future projections. These plans help in defining goals and identifying the
options which aids in attaining goals and on the basis of that they can attain the best results.
Marketing plans – For doing the marketing plans, they can use SWOT analysis which
helps in identifying the strength, weakness, opportunity and threats so that they can make a
proper product with the reasonable price.
Universal techniques – These types of techniques helps in attaining success as well as obtaining
goals and objectives. There are three simple things which are included in this plans i.e., the goal
should be realistic and measurable. They have to understand and communicate the base of
consumer. The company have to attract and retain the best employees. These three steps help in
achieving best results which aids in reaping the success (Whyte, Stasis and Lindkvist, 2016).
In the business entity, there are some limitations which hinder their relative operational
and practices of project management which includes:-
Cost – They have to prepare proper budget which is responsible for ensuring that the budget is
not overspent and that income should be raised according to plan.
Quality – They have to use the proper quality of inputs as well as output so that they can attain
the maximum benefits and by that they can obtain the aims.
Time – It requires completing each and every component of a project is to be analysed.
PROJECT COST MANAGEMENT
Cost management is concerned with proper process of carrying out planning as well as
controlling the budget of project or business. Project cost management includes different
activities like planning, estimating, budgeting, financing, funding along with managing and
controlling cost so that the staff members of the business entity can complete the project with the
proper budget (Spanyi, 2015). Cost management is a form of management accounting which
allows business in doing the expenditure so that they can reduce the chance of managing the cost
over the budget. In doing the proper management, they have to define the proper goals and they
are unique in nature. They have to utilize proper resources as well as have to adopt the
appropriate skills and knowledge from different profession which helps in managing cost and are
helpful in selling unique products.

Resource analysis – It is a strategic planning tool which helps in considering the proper
resources which is required to support appropriate strategy and on the basis of that they can
attain competitive advantage which helps in requiring the competencies so that they can use the
proper resources whether it is effectively and efficiently. These resources help in making proper
budgets, funding, and equipment so that they can complete the task in time. Allocation of
resources is based on priority of activities.
Budgeting – A budget for project is a sum of money which is allocated for a particular project
within a specified time. The aim of budget management is to control cost of projects within the
approved budget and then they can deliver expected goals of projects. Budget identifies the
planned expenditure for a product or for an event. There are three major components which are
helpful in doing budgeting for an event which includes base cost estimate, contingency and
management reserve (Azhar, Khalfan and Maqsood, 2015).
Cost control – Cost is the main key factor which is an indicator for projects which are involved
in controlling a cost by carrying out planning, estimating, budgeting, financing as well as
managing costs so that they can complete project in a specified time. In this, risk can be set the
projects back along with the unexpected expenses which is helpful in saving the time and by that
they can attain their aim to raise the capital of £2017.
PROJECT TIME MANAGEMENT
There are different project management techniques which can be used in the
different situation of the organisation which helps in the manager in managing the activities
while doing the operations (McArthur, 2015).
Traditional project management – This method can be used in the different situation of the
business entity. This is the simple method which requires the proper assessment of task which
assists in completing the work and also in attaining the best results. This technique can be used
when the work done in a small group and have to complete the task in a proper time.
Waterfall project management – This technique helps the individual person of team member
so that they can complete the work in a proper manner as well as in a sequence. They have to
make a proper contribution in building a goal so that they can do large tasks. In the different
situation company member can use Gantt Charts which succour in symbolising the project
timelines and dependencies.

PERT project management – This method helps project management in attaining the
challenges so that they can collaborate by using the new model for the large scale administration
of projects. This style helps in manufacturing and development process in a particular time. By
using this manager can differentiate between the events and activities which succour in making
proper budgets (Shields and et.al. 2015).
Critical path project management – This technique relies on task duration estimates and
dependencies. They have to focus on completing the tasks by the proper measurement and
prioritization. They have to do the appropriate development by the proper time frame. This can
be used in the different situations which occur in the business organisation so that they can attain
the targets.
Gantt chart – It is a type of bar chart which helps in illustrating a start and finish dates of the
elements of the project. It shows the dependency and relationship between activities. Gantt charts
can be used for scheduling the generic resources which helps in resolving the problems or
different situations which are faced by the staff members of business entity so that they can attain
their aim to raise at least £2017.
Task/ Week 1 2 3 4 5 6 7 8 9 10
Market Research
Define Specification
Overall Architecture
Project Planning
Detail design
Software
Start
A
D
B C
G
E
H
F
I End

development
Test plan
Testing and QA
User
Documentation
Network diagram – It is a graphical way which assist in viewing the tasks, dependencies and
the critical path of project. This also helps in obtaining the targets and this diagram can be used
by the staff members in the different situations (Enshassi and Mosa, 2015).
PROJECT RISK MANAGEMENT
Risk management is one of the knowledge area in which project manager must be
competent. It is a uncertain event which having positive or negative effect on the objectives of a
event. The purpose of risk management is to identify the potential problems before the risk occur

so that they can do the proper planning for handling the risk activities to adverse impact on
achieving objectives (Giuliani and et.al., 2015).
Risk Identification – The manager who conduct an event have to recognise and describe the risk
which affect the project. There are so many techniques which helps in identifying the risk like
decision tree analysis, brainstorming etc.
Risk analysis – It involves the identified risk and deciding that which risk factors having a effect
in managing the event. Risk evaluation involves the comparison on different levels of risk which
found during the analysis process.
Risk matrix – It is a matrix which is used while doing the assessment of risk. If assist in
increasing the visibility of risk and helps in managing the decisions. It helps in determining the
nature of risk and the action which are required. They are the indicators which help in making
the correct decision to control the risk (The Practice of Time Management on Construction
Project, 2017).
Risk treatment – It involves in identifying the different range of options so that they can treat
the risk properly. It helps in selecting the most appropriate method so that they can achieve the
best results. In this the members who conduct the event have to do the proper risk treatment
which helps in attaining the goals and objectives.
High risk: The employees of the business entity have to do proper analysis on the basis of risk so
that they can establish the high, medium as well as low risk. High risk which involve or exposed
to a high level of danger.
Low or medium risk: A balance of investments which offers the some investment security
alongside the possibility of the long term investment which assist in expanding the growth or
income. Moreover, the employees have to focus on the combination of income as well as capital
growth.
Monitor and review the risk – This is the last step of the risk management process. Monitoring
and review helps in obtaining the proper information which is generated by the risk management
process which is used, captured or maintained (Cost Management – Determining Project Cost
Performance, 2017).
CONCLUSION
From the above carried out analysis it has been inferred that management of operations
play a important role in the business entity. The staff members of firm have to do the proper

implementation of the management of operations by using the different tools, techniques along
with the strategies which assist in reducing the cost, high quality and performance of product in
the market. The company members have to do innovation in the merchandise so that they can
become successful in maintaining the standard in the market. While doing the analysis or
evaluation they have to use the appropriate information so that they cannot face any problem and
attain the leading position in market at the time of high competition.
REFERENCES
Books and journals
Azhar, S., Khalfan, M and Maqsood, T., 2015. Building information modelling (BIM): now and
beyond. Construction Economics and Building. 12(4). pp.15-28.
Bozarth, C.B and Handfield, R.B., 2016. Introduction to operations and supply chain
management. Pearson Higher Ed.
Enshassi, A and Mosa, J.A., 2015. Risk management in building projects: owners’ perspective.
IUG Journal of Natural Studies. 16(1).
Giuliani, M and et.al., 2015. Curses, tradeoffs, and scalable management: Advancing
evolutionary multiobjective direct policy search to improve water reservoir operations.
Journal of Water Resources Planning and Management.142(2). p.04015050.
Langabeer II, J.R and Helton, J., 2015. Health care operations management. Jones & Bartlett
Publishers.
McArthur, J.J., 2015. A building information management (BIM) framework and supporting
case study for existing building operations, maintenance and sustainability. Procedia
Engineering. 118. pp.1104-1111.
Shields, J and et.al., 2015. Managing Employee Performance & Reward: Concepts, Practices,
Strategies. Cambridge University Press.

Spanyi, A., 2015. The governance of business process management. In Handbook on Business
Process Management 2 (pp. 333-349). Springer Berlin Heidelberg.
Stadtler, H., 2015. Supply chain management: An overview. In Supply chain management and
advanced planning (pp. 3-28). Springer Berlin Heidelberg.
Todorović, M.L and et.al., 2015. Project success analysis framework: A knowledge-based
approach in project management. International Journal of Project Management. 33(4).
pp.772-783.
Whyte, J., Stasis, A and Lindkvist, C., 2016. Managing change in the delivery of complex
projects: Configuration management, asset information and ‘big data’. International
Journal of Project Management. 34(2). pp.339-351.
Online
Cost Management – Determining Project Cost Performance. 2017. [Online]. Available through:
<http://www.definedlogic.com/blog/archive/cost-management-determining-project-cost-
performance/>. [Accessed on 20th February 2017].
The Practice of Time Management on Construction Project. 2017. [Online]. Available through:
<http://www.sciencedirect.com/science/article/pii/S1877705815033238>. [Accessed on
20th February 2017].