The Principal Reasons Why Management Has Become Such A Popular Business Tool

1118 WordsSep 28, 20155 Pages
1. Discuss the principal reasons why project management has become such a popular business tool in recent years. (Objective 1.1) Business has changed greatly in the last 20-30 years. The introduction of global competition has forced businesses to find new ways to gain a competitive advantage, whether it be new or improved products (as product life cycles have shortened), cost reductions (perhaps through a new MIS), or just improving the customer experience. With Project Management, companies have the ability to focus on many things at once without losing focus on their core business model. By bringing together varied peoples into the PM team, innovation is increased. Under the old way of doing things, the quality of each plan would suffer. Projects have a start and finish and can be tracked and quantified from beginning to end. This ensures a higher quality end result within time and resource restrictions. 2. Suppose that you are in charge of a production line. What is expected of you as a process manager? Now suppose that you are assigned the task of making a radical change to the production process. What then would be expected of you as a project manager? (Objective 1.2) As a process manager you are in charge of making sure the day to day operation is running smoothly and that you meet your immediate quotas. A process manager, especially on the production line level is not involved in big picture thinking and only needs to be concerned with what is happening in

More about The Principal Reasons Why Management Has Become Such A Popular Business Tool

Open Document