The World without Bankruptcy Laws
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers
What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
According to the PMBOK 3rd edition, A project is defined as a “temporary endeavour with a beginning and an end and it must be used to create a unique product, service or result”. Further, it is progressively elaborated. What this definition of a project means is that projects are those activities that cannot go on indefinitely and must have a defined purpose.
The art of project management calls for an increased vigil on quality and related processes. The project manager is expected to be aware of the best practices that are used for the project and is supposed to make sure that he or she adapts them to the use of project management.
One area of concern nowadays is the absence of processes in procurement and staffing. These are areas of concern not only to the project manager but also to the organisations.
There is a need to balance the requirements of the fast procurement and staffing cycle with that of proper processes to be followed. There has been much debate in many organisations about the lack of quality in recruitment and procurement.
These twin areas of quality and procurement have the aspect of ruining the chances of a successful project and hence the project manager has a responsibility to steer the course and ensure that quality does not suffer. There are several areas of project management that need quality control and there are several benchmarks of quality that can be used to meet these standards.
For instance, many organisations use Six Sigma and SEI CMM level processes to guide them in the art of quality and meeting quality specifications. These are just one instance of how the quality framework is used to differentiate between the processes that are error free and those that need revision and rework. Sampling method prescribed by Kaizen, Six Sigma etc can be used to improve the quality of the processes that are employed by the organisations.
Kaizen, in particular relates to continuous improvement, a theme that would find resonance in the uber-competitive world of today. All organisations strive for quality and to find the edge that would differentiate those from others and thus these initiatives are the ones that the project manager must look forward to and implement them diligently in the workplace.
To address the issues arising out of poor procurement and staffing practices, the project manager has to be in constant touch with one important stakeholder i.e., the procurement and staffing teams and this is where the project manager is expected to show their level of competence by managing the procurement and staffing cycle.
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