Project Management - Project Breakdown, Risks and Staffing - Assignment Example

Project Management Introduction The major risks that face the business organisation are staffing, management, and handling of a new project and the risk of running out of business because of the adverse competitors. For an organization to run and operate smoothly it is the duty of the managers to control manage and mitigate all the risks that the organization is prone to. The management should come up with a plan which will ensure effective project management with regard to the risks and challenges that the organisation faces. For the business to achieve success the manager should first establish where the problem exists in the organisation and identify the categories of risks to be addressed (Alkhafaji, 2001). This paper highlights the possible risks in the organization and how they can be analysed and managed. Problems being addressed and where it exists in the organization. The organization faces a challenge of the inability to influence wider and diverse market margins. The company is striving to widen its customer diversity and population. This is hindered with the various risks the company faces such as stiff competition from similar companies and lack of sufficient stuffing. The company lacks enough employees hence the production of the company is not to its maximum. There is also poor human resource management. The organization finds it difficult and expensive to train the recruited employees. It is hard for the organisation to replace the experienced personnel who leave with new recruits who take time before conforming to the organisation’s operations and strategies. The organisation faces constant shifting of the employees and this gives it a disadvantage compared to the competitors. Another risk that the organization faces is lack of sufficient resources and funds to hire more employees. More employees will enable the organisation to have broader market margins as there level of production will be increased. This problems affect all departments of the organisation hence put the whole organization at risk. The organisation has not fully implemented technology in its daily routine and operations. The computer services and the internet facilities are not fully utilized by the employees of the organization. This particularly affects the HR, marketing and finance department. Impacts on the organization if the problem or risk is not resolved If this problems are not adhered to the company faces a threat of falling out of competition and closing down in the long run. Failing to diversify and widen it market margin gives the competitors an advantage. This also hinders the organisation from attracting more customers hence limiting the amount of profit the company makes. The constant shifting of employees makes the organisation to incur more cost in recruiting and training new people. This makes the organisation to lag behind as the resources which would have been used to expand the business is used in recruiting new employees to replace the ones who have shifted. The poor HR techniques is causing many of the employees to shift. The HR together with the management should come up with strategies to retain the employees especially those with sufficient experience and technical know-how. If the company also fails to recruit more employees the levels of production of the organisation will be limited and this hinders the amount of profit the company makes. Increasing the number of employees will reduce the work load of the existing and this will help in retaining and attracting more employees in the organisation (Sims, 2002). The problem of lack of adequate funds and resources if not addressed will force the organisation to fall out of competition. This gives the competitors with sufficient resources an advantage as they are capable of recruiting more employees and diversifying their products to increase their profits. Failure of the organisation to fully implement the use of computerized services and internet facilities compromises the efficiency in the operation of the company. It inhibits organisation and order in the company hence minimizing the returns. There are also losing out on customers who prefer the use of computer services in the purchase of goods and services of the organisation. The company is still entrenched in the traditional production methods and this hinders it from widening its market margins. Methods to be used in analysing and managing risks The risks should be analysed and managed in order for the company to counter the challenges. The challenges must undergo intrinsic steps for the management to solve and mitigate or control the risks that the organisation is facing. The management should identify the required and existing redundancy standards in the organisation in order to accommodate and consider the critical functions and systems which include information, hardware, communication, services, and personnel (Miller, 2008). To control the risk of employees shifting the management, through the HR should come up with incentives and other privileges that will help maintain the existing employees and attract more. The employee retention practise should be overemphasized and at the same time putting maximum consideration on the skills and expertise development. The management should also ensure that all the members of the organisation embrace the use of computer and internet services. The use of technology enhances efficiency and effectiveness in the daily routine and operations of the organisations, it will also enable the organisation to have an upper hand over the competitors as there will be increased returns and productivity as a result of utilising technology. To manage the resources and funds risks the organisation should diversify its products and services so as to attract more customers. This will help it make more profits which can be used to recruit more employees and expand the organisation. The company should make use of SWOT analysis and judgement from experts so as to identify the possible risks. In analysing and identification of the risks checklist analysis and interviews should be used by the managers (Wagner & Bode, 2009). Categories of risks to be addressed 1. Strategic risks such as the competitors that are emerging on the market. 2. Operational risks which includes the breakdown, theft or failure of equipment. 3. Financial risks such as luck of sufficient resources and funds to recruit more employees. 4. Compliance risks for example embracing change and using technology 5. Employee risk management which includes maintaining of sufficient staff numbers and ensuring their retention. 6. Commercial risks which entails the suppliers and customers of the organisation. Conclusion For the organization to be successful the management should take adequate measures against the possible risks and also control and mitigate the ones that it’s already facing. This will ensure its productivity and an advantage over its competitors (McFarlin & Sweeney, 2008). References Alkhafaji, A. F. (2001). Corporate Transformation and Restructuring: A Strategic Approach. Connecticut: Greenwood Publishing Group. Dean B. Mcfarlin, P. D. (2008). International Management 2008 Edition: Strategic Opportunities And Cultural Challenges. London: Dreamtech Press. Miller, D. P. (2008). Building a Project Work Breakdown Structure: Visualizing Objectives, Deliverables, Activities, and Schedules. New York: CRC Press. Sims, R. R. (2002). Organizational Success Through Effective Human Resources Management. Connecticut: Greenwood Publishing Group. Wagner, S., & Bode, C. (2009). Managing Change and Security: The Safeguard of Long Term Success for Businesses. New York: McGraw Hill Publishers. Westport, Ct: Quorum Books. Read More