Project Management Operators of Large Assets

Question: Discuss about the Project Management for Operators of Large Assets. Answer: Introduction: The topic for second week was the project management for operators of large assets. I have developed an understanding on how to make effective assessment of a project within a budget and time. I came to know important of cost benefit analysis that the higher cost-benefit ratio will be favoured for successful completion of project. Moreover, there are different risks that can sustain project such as implementation, operational risks, financial risks and revenue risks. After knowing these risks, now I am able to manage risk effectively by the help of additional resource allocation, communication improvement and by having additional information (Kerzner, 2013). I experienced that quality management skill is also significant as it is capacity to meet customers needs, requirements and market expectations fit for uses. Likewise, in the words of Dr. Deming, Quality management is everyones responsibility. As argued by Crosby, that the cost of quality only includes non conformance costs. However, Juran stated that both the cost of quality namely conformance and non conformance comes under it. Crosby states that the cost of quality does not include costs of appraisal and prevention but are the cost necessary for doing business (Wong). Hence, it is said that non conformance is the only associated costs that defines the quality as it is free. Additionally, an analytical technique was not emphasized by Crosby but heavily relies on role as well as motivation of senior management. The comparison of different authors for defining quality has helped me to know that not only the worker but also the management is responsible for addressing the quality. This helped me to ensure my responsibility regarding quality management in context to management as I will be the future project manager. I have learned that cost of quality involves appraisal, internal and external failure costs (Burke, 2013). The quality management plan, process improvement plan are effective for meeting the needs of the customers. I learnt Taguchi Approach is important for quality. As illustrated, project quality can be achieved by minimizing the variation from the objective of the project. I have examined that Malcolm Baldrige National Quality Award can be achieved by developing the leadership skills, strategic planning, analysis on customer needs and market information, development of human resources and management category along with process management for best business results. In addition to this, I have gained ISO 9000s knowledge that implement and develop the quality standard in the project. From this course, I can easily differentiate between TQM and BPR. For example, TQM is a better way of performing business while BPR involves new way to perform business (Walker, 2015). I came to know that there may be adverse impact on project due to environmental factors such as water, air, human aspects, natural resources as well as economics. Therefore, environmental impact assessment process is necessary to stud y along with valuing environmental methods. Weekly Portfolio Learning Table Learning outcomes of the course Description of topics including reading samples Learning from your experience Supporting documentation including your prior learning Develop knowledge on project justification for effective decision making. Dr. Bernard Wongs Project Management for Operators of Large Assets I have gained knowledge on selecting the most suitable project with effective decision making with project justification. Wong, B. Project Management for Operators of Large Assets. Project manager skills necessary for project construction Walkers Project management in construction I came to know about various skills needed by the project manager to construct project within the budget and time. Walker, A. (2015) Project management in construction. USA: John Wiley Sons References Kerzner, H. R. (2013)Project management: a systems approach to planning, scheduling, and controlling. USA: John Wiley Sons. Burke, R. (2013) Project management: planning and control techniques.USA: New Jersey. Walker, A. (2015)Project management in construction. USA: John Wiley Sons. Wong, B. Project Management for Operators of Large Assets.