Assignment Task:
Management innovations have changed the way we think about and do management, how we organize, solve problems, make strategy and lead people. Some innovations such as Total Quality Management (TQM), Six Sigma, Lean, and Agile are widely adopted to improve process management. There are some arguments that the use of such techniques may provide production benefits in the short term but will ultimately lead to long term failure due the inability of the organisation to innovate.
Question 1: Critically review one of the management innovations and discuss to what extent you believe the innovation would improve project effectiveness.
Project scenario:
You are working for a consultancy company that specializes in project management. In the current year performance review, the company has witnessed a high failure rate due to projects being completed late and often at a significantly higher cost than initially anticipated. Some clients have threatened to terminate contracts and blacklist your company. The management team believes that the failures are mainly due to the way projects are defined and initiated. The board of directors has called for an internal review to substantiate the causes of project failure. Your Manager would like to benefit from your newly found knowledge and has asked a report on efficacy of the current project management system. The report is expected to review the current challenges and propose a better way forward:
Question 2: Critical review of the possible causes of project failure within the company and to what extent these are contributed by ill-defined project.
Question 3: Propose and recommend the most appropriate systems for cost and time management to enhance success on future projects.