MANAGEMENT PROJECT

Project Management for Innovation and Enterprise

Executive Summary

Companies are proposing project management as a broad- brush approach for formulating plans and taking care of daily business. In other words, project management is becoming a piece of organisation managerial philosophy, like total quality or customer satisfaction or lean management. It is becoming inbred, part of the fiber of the company, an accepted way for accomplishing goals. Enterprise project management is compatible with ongoing management philosophies such as client-focused management, quality movements and revamping of business processes.While taking a new product to the market, it is important that the strategies that involve the planning of the project should be effective as it will describe the success of the project management. For the project management, it is significant that the tools and the techniques from manufacturing to delivering the product to the ultimate consumer should be efficient and effective. Project Management for Innovation and Enterprise

Introduction

Projects are non repetitious enterprises or long term undertakings that have a definite beginning and an end. Because of the relentless and accelerating crunch of change, industry is taking on a new face, a project look, although repetitive-motion activities persist. While bolt tightening at an auto plant is not a project, the design and prototyping of a new four-wheel-drive roadster is as are continuous improvement activities, maintenance upgrades, production-line revamps, and the development of integrated project teams” to imp rove productivity. So while production lines are processes by nature, it is projects that give them life and that keep them competitive by shortening the product cycle.

Generally, activities in any organisation fall into one of the two categories: operations and projects. The activities in operations are characterised by repetition and day to day execution, like production, service or manufacturing. Projects, on the other hand are longer and complex activities that involve unparalleled, onetime initiatives, e.g. the launch of a new product, or extending the line of products or adding business units. New ventures with other firms and improvement of products already existing might also be regarded as projects. In many instances, investments in the infrastructure of the company are also project entities (Turner 1999). Projects drive business innovation and change in fact, project is the single way in which organisations can 'change', carry out a strategy, innovate, or derive competitive advantage. With high demand for growth and innovation, the share of operations in most organisations is declining and the share of projects is on the rise (Arbaugh 2002). This trend started out in the 1900s, and it is speeding up in nearly every organisation and industry: not only do product life cycles turn more scant, but also customers nowadays call for greater variety and more choices, driving companies to provide more products in about all markets (Kotter et al 1979).

Tools and Techniques for Project Management

New product development is recognised by all industrial sectors as essential to business success but the pressure of competition is forcing companies to look out both their products and the way they ...