Millennium Dome - Essay Example

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A project can be defined as a one-shot, time limited; goal oriented major undertaking which requires the efforts of various skills & resources. A project means to achieve an end in harmony with the development process of the sponsoring organization. …
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Download file to see previous pages resources. A project means to achieve an end in harmony with the development process of the sponsoring organization. It is also usually a means to develop assets, acceptable within quality specifications. It is a process whereby six types of resources are invested; such resources are better known as the 6 M’s. These are men, materials, machines, money and minutes. Out of the six M’s minutes and money are mostly independent of one another. But the other 4M’s could be procured in exchange for money, but they are difficult to evaluate in minutes and monetary terms. Therefore it must be ensured that organizations should exercise the utmost caution in selecting and execution a project keeping in mind that resources are scarce commodities. Also keeping the scarcity factor in mind organizations must ensure that the projects should be clearly defined from the point of view of implementation and control (Kothari, 2007, p. 201). During the course of a project an organization faces a number of projects that are needed to be overcome to ensure successful execution of the project. The study looks to analyze such problem keeping the case of Millennium Dom at the focal point of discussion. The study looks to provide clear and concise understandings of the overall project management process, initial phase of the millennium dome project planning, the actual execution of the project, evaluate the outcomes of the project ( both positive and negative); and finally based on the above analysis the study looks to provide recommendations (De, 2011, p.229). Project Management Process A project management can be defined as the application of various skills, knowledge, tools, and techniques in order to achieve the required project goal. According to the definition of project management defined by The Project Management Institute (PMI), it is the art of coordinating and directing both material, financial and human resources throughout life of a project by using advanced management techniques to successfully achieve predetermined goals. Formulation of the organization as system of problem This is done in such a way to capture and highlight the essential and systematic properties of the organization, not by listing independently formulated threats and opportunities; but by protecting the future that the system would have it, and its environment, were to continue unchanged. It is the future that a system currently is in. End Planning This involves selecting the ideals, objectives and goals to be pursued by preparing an idealized redesign of the system planned for a design which the relevant stake holders would replace the existing system today if they were free to do so. The difference between this most desired design and t description developed in the first phase define the gaps to be filled by the remainder of the planning process. Means Planning Here the ways of filling the gaps are selected. These are more likely to require invention than discovery. They can take the form of policies, programs, projects and procedures, practices or individual courses of action. Resource Planning A determination is made of how much of each type of resource –people, facilities, equipments, materials, energy, money, information, knowledge and understanding will be needed by the means elected, and when these requirements will arise. Then it is quite ...Download file to see next pagesRead More
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