Planning Of A Rich Media Project For Digital Portfolio

Project direction as the building blocks of conglomerate types of businesses holds important roles in defining the success or failure of these businesses, whether it is used in a everyday basis or in used in lighthouse events only. As the environment changes however, larn management strike to face new challenges and issues brought upon it by shifting trends in the society.Concerning date management, this paper discusses how the trends hurl shifted and what issues be presented in the face of enter management science. In the end, I will describe how bear managers have responded to those challenges and create new business models and new encounter management initiatives.I. Case Studies and FindingsII.1. Changing Environment new Trends and IssuesLimited ResourcesOne of the nearly obvious shifts in project management trends is the limited resources provided for each project. With the take aim of competition and professionalism expect by investors, project managers now be ex pected to do more with less. Tighter budgets, less time and fewer resources atomic number 18 some of the challenges faced by modern project challenges. Using those limited resources, project managers atomic number 18 expected to create products and provide services which are faster, cheaper and better. The basis of the competition is now rooted in two dimensions, time-based considerations and cost based considerations. The cost based dimension has been around since the beginning, provided the increasing enormousness of time-based considerations is the new competitive edge. Companies or project managers at once are demanded to control their cost using project management techniques and to deliver product or service to the market faster than any nonpareil.Developing a consistent flackSurveyed executives and project professionals reported that underdeveloped a consistent approach to managing projects is one of the nearly common challenges in todays project management. 24% respond ents believed that designing the approach toward a project management strategy is the of import first step. Any other steps are built upon the success of this first step. It is the foundation of the firm project. If it is managed successfully, any other steps would run smoothly in aftermath.However, due to the unpredictability of situations, project managers back sometimes decide to change their approach toward the project. More often than not, this action does not deliver solutions to the problems, but rather generate confusion and baffle the people who already have their mindset tune-in to the preliminary approach (Research, 2003)Managing multiple projectsAlmost 20% of the respondents believed that it is the allocation of resources that become their huge challenge in managing their projects. The difficulty level is enhanced once the project managers must manage multiple projects at once. One of the preliminary considerations project managers must made is about choosing the pro per projects. 17% of the executive and project professionals interviewed verbalise that one of the most common issues for companies is that they choose too many projects to manage or they choose the wrong projects.Deciding to manage projects without the right basis of considerations will generate flawed end-result and thus flawed corporate reputation. In managing multiple projects, the consequence of the challenges, whether they are from the cost-based considerations or the time-based considerations is enhanced substantively (Research, 2003).Limited visibility of project activitiesAnother important challenge and the one that is increasingly discussed in recent years is the limited visibility of project activities. Increasing scope of project, complexness and increasing need to be cost and time effective enhanced the necessity to have bear visibility throughout the project duration and processes. Nevertheless, such a visibility is seldom available because it requires significant amount of investment in IT initiatives and staff training.Companies rely on project management more.About 72.4 projects within a company is lasting less than one year, which makes them eligible for implementing the project management science 51% of these projects are considered complex or highly complex. Almost 60% of companies surveyed manage projects at the enterprise level. 44% of these surveyed companies already have an established project office and a center of excellence for project managers (Research, 2003).II.2. Requirement The sweet Business ModelsII.2.1. Improving the Project ManagerIn order to deal with the changes in todays marketplace, companies rely on project management sciences a lot more than yesterday. This is considered a logical step because managers discovered that project management science contain a significant competitive advantage to other concept of management. Companies are now supplying their project managers with tools to manage projects efficiently, li ke seminars and training in project management sciences, to learn about scheduling techniques like Gantt charts and PERT diagrams. Project managers are also taught to plan ahead, be proactive yet flexible and creative in anticipating problems due to changes within the environment.II.2.2. Developing the Project TeamProject teams also accredited significant raining steps. These training steps are performed to give projects teams the capability to write project specifications, estimating time, developing budgets and homework procedures within the project. The training will enhance the efficiency of the project team in planning the project. The more efficient the planning process, the easier the implementation of the project becomes. Afterwards, team members are taught to develop teamwork and team preen to help ensure the projects success. As the level of competition increases, businesses realize the increasing look upon of providing project managers and project teams with those typ es of trainingII.2.3. Developing the Information Technology DepartmentIn order to fulfill the need to have project visibility across its processes, companies and project managers turn to Information Technology. IT initiatives are the choice of 77% project managers having been surveyed, Compare to 69% believing that methodology improvement and staff training are the most crucial problems (Chaakravarty, nd).II.2.4. OutsourcingHaving limited resources and time to manage projects efficiently, companies begin considering outsourcing the project management systems. More than 50% of companies surveyed stated that they only have 1-9 project managers on the companys staff, others are outsourced. 25% of these surveyed companies have 10-25 project managers on staff and 39% of the companies surveyed fully outsourced their project management function or considering it.