ASSIGNMENT:                                                                   OPERATION MANAGEMENT
                                    
COURSE:                                                                              SUPPLY CHAIN MANAGEMENT
                                                                           
STUDENT NAME:                                                             OSMAN OSMANOVIC
                                                              
STUDENT NUMBER:                                                        16DL03
                                                                                                   
LECTURER:                                                                        PAUL FOGARTY

DUE DATE:                                                                          15 JAN2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CERTIFICATION
I CERTIFY THE CONTENT OF THE ASSIGNMENT TO BE MY OWN AND ORIGINAL WORK AND THAT ALL SOURCES HAVE BEEN ACCURATLEY REPORTED AND ACKNOWELEDGED AND THAT THIS DOCUMENT HAS NOT PREVOUSLY BEEN SUBMITED IN ITS ENTIRETY OR IN PART AT ANY EDUCATIONAL ESTABLISHMENT

 
TABLE OF CONTENT

1. INTRODUCTION

Project management is constantly evolving and becoming increasingly applicable to different industries, organizations and various projects. The standards of project management become an unavoidable project management guide. The purpose of project management is planning, organizing and controlling of all activities to make the project as successful as possible carried out despite all the risks. For a better understanding of project management at the beginning of this paper will be explained the term project management and its characteristics.

Every project goes through five phases: initiation, planning, performance, supervision, control, and closure of the project.

1 PROJECT INITIATION

Initiation is the begining of the project, and the objective of this stage is to define project at a broad level. The first stage starts with a business case usually. This is an ideal opportunity to look into whether the project is possible and if it should be attempted

Stakeholders will choose whether the project is a “go” or not. If it is given the green light, it is required to create a project charter or a project initiation document also known as PID that outlines the purpose and requirements of the project. It should include business needs, stakeholders, and the business case.

1.1 Planning

The second stage is critical to effective project management and concentrates on making a goals and plan that everybody will take after. This stage normally starts with defining targets and objectives.

 

1.2 Execution

 

This is where expectations are developed and finished. This regularly feels like the meat of the project since a lot is happeining at this time, like meetings and status reports, development updates, and performance reports.

A “kick off” meeting usually  marks the begining of the Project Execution phase where the groups and teams included are informed of their obligations.

 

Objectives complited during Execution Phase include:

 

Develop teams, Assign assets, Execute project management plans, Procurement management if necessary, Set up tracking systems, Task assignments are executed, Status meetings, Update project plan, Modify project ideas as required

 

While the project monitoring stage has an different set of requirements, these two stages frequently happen at the same time.

1.3 Performance and Monitoring

This phase is all about measuring performance and progress, and ensuring that everything happening aligns with the project management plan. Project managers will use key performance indicators (KPIs) to decide whether project is on track or not.

1.4 Closure

This stage represent to the finished project. Temporary workers employed to work particularly on the project are terminated at this time. Significant members are recognized. A few PMs even arrange little work occasions for individuals who took an interest in the project to express gratitude toward them for their contributions. Once an project is finished, a PM will often hold a meeting – in some cases refered to as an “post mortem meeting” – to evaluate what went well in a task and recognize project failures. This is particularly useful to comprehend lessons realized with the goal that changes can be made for future activities.

2 PROJECT METHADOLOGIES

 

_______________________________________________________________________________________

 

There are a considerable amount of them really, and some even combine fron new hybrid approaches.

Some of most utilized strategies are:

 

2.1 Waterfall

This is most common method. The simplicity and power of this method is that is planned and laid in proper sequence. One task must be finished beore next one begins.

 

2.2 Critical Path Method (CPM)

 

This method was created in the 1950s depends on the idea that there are a some tasks you can’t begin until the point when a prevoious tasks are done.

Concentration on this critical path allows project managers to organize and assign assets to complete the most imperative work, and reschedule any lower priority tasks that obstruct team’s bandwidth.

This way, if changes should be made to the project schedule, you can optimize your team’s work process without making delays the end results.

2.3 Critical Chain Project Management (CCPM)

 

Critical chain project management is an approach that puts a primary focus on the asseys expected to complete the project’s tasks. It starts by building a project schedule and identifying the most urgent tasks that should to be done and reserving resource for those high-priority tasks.

2.4 Agile Group

 

Four main values of Agile group are  expressed as:

Individuals and interactions over processes and tools.

Working software over comprehensive documentation.

Customer collaboration over contract negotiation.

Responding to change over following a plan

 

Agile can refer to these values as well as the frameworks for implementing them, including:

Scrum, Kanban, Extreme Programming, and Adaptive Project Framework.

2.5 SCRUM

 

Scrum is the most famous Agile development method since it is moderately easy to implement yet it takes care of a great deal of problems that project managers have battled with in the past, for example,  inflexible project plans, delayed production, convoluted development cycles,

 

In Scrum, a little group is driven by a Scrum Master whose fundamental job it is to clear away all obstacles to work getting done more efficiently. The team works in short cycles of two weeks called “sprints,” however the team meets daily to talk about what’s been done and where there are any barriers that need clearing. This strategy takes into account fast development and testing, particularly within small teams.

2.6 KANBAN

 

Kanban is another method for executing Agile however depends on a group’s ability to do work. It began from the production lines of Toyota amid the 1940s and was initially a visual arrangement of cards (“kanban”)  used by a department to signal that their team is ready for more raw materials, that the team has more capacity to work with.

 

 

Today, this visual way to managing a project is well-suited to work that requires steady output. Project teams create visual representations of their tasks regularly using whiteboards and sticky notes (however there are also

virtual versions that can be used online) and move these through predetermined stages to see progress as it happens and distinguish where bariers occur.

2.7 EXTREME PROGRAMMING (XP)

Extreme programming is another branch of Agile and is a methodology intended to enhance the quality (and simplicity) of software and the ability of a development team to adjust to cliets’ needs. Much like the original Agile formula, XP is characterized by short work sprints, offten iterations, and constant collaboration with stakeholders. Change can occur inside a sprint: if work hasn’t begun on a specific feature, it can be swapped out and replaced by a similar task.