Internal project management Coursework Example | Topics and Well Written Essays - 4500 words

Internal project management - Coursework Example This research seeks to explore and look into ways of shaping an effective method of managing projects inside IB - Wirth so that it can perform better and produce optimal results; and if necessary, to fill in gaps which exist and offer suggestions for improvement. The underlying motivation for choosing this topic is the fact that project management is a domain that has been gaining more and more importance today. Such value has been triggered by shifting economic conditions like globalization, the escalating competitive spirit among business enterprises, technological advances and growing customer demands and requirements - all these have led to businesses carrying out projects to attain maximum value in their products and yield better production results. In this discourse, it is hoped that the positive features of project management will be magnified, clarified and given the needed stress with the anticipation that such features will assist in the enhancement of Wirth's business practices, provide ways that would improve the engineering office' current dealings with its customers thereby giving more satisfaction and develop to the fullest the company's overall bottom line. Contents Chapter 1 - Introduction Case Company Background 5 Research Objectives 5 Significance of the Study 6 Outline of the Dissertation 6 Chapter 2 - Literature Review Definitions 7 Risk Management and its Role 8 Role of Managers 10 Effective Project Management/ Strategies 12 PM Framework 15 PM Application/Issues 16 Chapter 3 - Methodology Research Design/Strategy 17 Method of Data Collection 18 Validity and Reliability 20 Appendices 22 Bibliography 30 Chapter 1 Introduction Whether in times of economic troubles and stagnation or during periods of financial viability, it is always imperative for business organizations to "tighten their belts" and focus on rational and pragmatic objectives. Essentially, business firms must aspire for economic efficiency as their crucial goal and make such objective compelling and well-founded. To grasp this goal, all minor divisions of a business organization must therefore be cost-effective. In this treatise, these minor divisions are seen as "projects." To achieve harmony and synchronization in these projects, internal project management is necessary. Project management has surfaced as a forceful discipline carried out by well trained, professionals as business firms have come to realize that they cannot be a viable enterprise if they cannot manage their projects. However, many organizations are still limiting the application of project management to the tactical level since it is critical to for the business' continued existence to make certain that products are efficiently crafted, developed and delivered to internal and external customers. Likewise, knowledgeable organizations have long recognized the fact that project management