MGT8022 Project Based Management

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MGT8022 Project Based Management

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MGT8022 Project Based Management

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Course Code: MGT8022
University: University Of Southern Queensland

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Country: Australia

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Provides students with details of the marking criteria for this assignment including penalties for non-compliance with specific requirements, Acts as a checklist to ensure that students have addressed all requirements, and Is used by markers for providing feedback and marks for the assignment.
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Introduction
Project Management framework plays a significant role in helping the evaluation of characteristics those are common to the company (Pemsel and Wiewiora 2013). Without any formal planning, project managers working in small organizations start the project that can cause the project failure. “Project based management” can be referred to a model that can organize the project activities (Jia et al. 2014). If the clear picture of the output received from the strategies applied and the enterprise would be determined then, the project optimal values can be achieved. Therefore, this study focuses on the analysis of the universal component that is applicable for Samsung; issues faced by the enterprise, findings and analyze critically the project based management framework in small enterprise. Moreover, this project can be completed through the involvement of the continuous changes, multidisciplinary team-work, increasing the communication connectivity with the customers and by enhancing the customer orientation. Thus, the project success would depend on the strategy alignment with the output necessary by the company. This study aims to critically analyze that how Samsung electronics can make the utilization of the generic value chain model. Companies focus on improving the HRM, technology, manufacturing related to design, quality as well as marketing of the products.
Discussion
Samsung has transformed its mediocre manufacturing to strong brand value and low cost product. This drastic transformation brings huge success for this organization. According to Pinto, Dawood and Pinto (2014), Samsung electronics mainly works on the principle of innovative theory which generally helps to imply research in several areas of innovation in technology and trends, customer demands, organizational resources, functional differences and others (Samsung 2017). Moreover, Samsung has changed its strategies for opening Human Resource for preparing g their organization for the business era. Therefore, in this regard, it must be aimed to analyze the strategic management of Samsung electronics by utilizing the value chain model. Additionally, this model helps to identify the activities performed within the company. Burke (2013) has stated that the value chain model divides the activities into two sets those are known as the supporting and primary activities. In case of the primary activities, these focus on the services as well as products offered to the customers (Khan and Rasheed 2015). On the other hand, the supporting activities are comprised of the related functions those are utilized to develop products for the company.
Issues faced by Samsung – Pinto, Dawood and Pinto (2014) have noticed that this organization has faced challenges to complete their supporting and primary activities to analyze the working ability and structure of the company. The contract management and the network promotion works on acquiring and promoting customers by making the utilization of contract that is related with managing services provision. Marketing and branding strategies set for the company has played a crucial role in the success factor of Samsung electronics (Schwalbe 2015). Moreover, service providing is the other issue to handle the network connection. Infrastructure operation is an important matter for a company as it needs the resource distribution among several enterprise activities. Apart from that, the industrial network is comprised of resources ties, agents bonds and activity links (Khan and Rasheed 2015). Furthermore, it has been challenging to determine the organization’s position within the intermediate network. The network recognition of the company can also be demonstrated by analyzing the resource structure, actors, activities and resources. The product quality consistency is the key concern of the company for maintaining its brand value within the market.
Personal Management System – Samsung Electronics has utilized the open management to develop their personnel management. The open management has focused on the development of creativity and autonomy for employees who helps to enhance their efficiency and skills. According to Personal Management system, new HR systems always enhance the knowledge skills and abilities of the employers with the help of education, resource allocation and recruitment.
Marketing and Design – As discussed earlier, marketing and branding strategies those have been set for the company have taken an important part in achieving the business success of Samsung Electronics. This organization has utilized six marketing imperatives in terms of building their marketing strategies. Initially, the Samsung emphasize on predicting the customer requirements that they want in the product as well as help in satisfying their future requirements. Apart from that, they work on identifying the product designing that should be implemented in accordance with the customer requirements. On the other hand, they also work to develop the adaptive, efficient, intuitive and simple design. Besides that, they also implement the design that portrays the customer lifestyle. In addition, they also work on the development of the authentic featured product that entirely covers the market. Lastly, they work also on the launch of new products to maintain and sustain the long-term growth of the company in market.
Quality Based Management – Mir and Pinnington (2014) have stated that the “Quality Based Management” of Samsung mainly works on the process of emphasizing the technical resources that helps for driving as well as formulating product quality. Moreover, the quality based management is comprised the interconnection between technology and human being. Human resource fosters on time management to deliver the products. The consistency within the product quality is the key concern for this company in terms of maintaining its value of brand within the market.  Therefore, new slogans should be utilized to attract the new customers to their product (Todorovi? et al. 2015). The efforts given by this company has help this enterprise in order to compete with the other organizations such as Apple, Sony, Nokia and other companies in smart phones or mobile.
Hybrid management system of Samsung – It mainly aims on diversification, gives the scope to tap into external as well as internal market and others. Therefore, the R&D program helps to bring continuous improvement in the area of marketing, innovation and design. Besides that, this organization generally emphasizes more on the potential customer focus that helps to analyze the employee requirement (Cicmil, Lindgren and Packendorff 2016). On the other hand, this management system also helps to develop long-term relationship with the suppliers. The scheme of compensation based on market helps to motivate and attract the internal workforce. Open recruitment and annual recruitment play significant roles to motivate employees for sharpening their skills.
Principles Utilized to Analyze the Organization – There are four major elements those should be analyzed in accordance with the company such as the project and program support, project management office, project sponsorship and portfolio management (Jaime et al. 2016). The four elements has been discussed and summarized with thorough discussion in the tabular form:

Particulars

Description

Portfolio management

Portfolio management should focus on the selection of the new project in accordance with the working practices as well as strategies developed by the company (Karsakov, Bilyatdinov and Hoekstra 2014). Therefore, in this regard, Samsung deals with basically the termination policy of the project that is not capable of bringing huge success to the company.

Project Sponsorship

According to project sponsorship, The direct connection should be developed between the executive as well as the project management to study the lifecycle of the project (Briand and Hodgson 2015).

Project Management office

It deals with reporting the strategic capabilities of the enterprise

Project and program support

The success of this enterprise mainly depends on the properly managing the strategies utilized in order to accomplish the project (Boss and Krauss 2014).

Comparison to the Literature

Particulars

Project Activities according to the Business Case

Recommendations made in literature

Value Configuration Analysis

Industrial network analysis

Strategic Management System

Analytical framework in order to create value logic

Deals with configuring value analysis

Connection between the resources, activities, bond as well as activities

Knowledge explanation along with the activities
Strategic network required for the value constellation

This project should try to maintain a well-structured analytical framework through conducting industrial and value configuration analysis

Supply Structure

Creating an interconnection of the layered network and chains

Implementing an interlink of supply chain with resources, activities as well as actors

Demonstrating network with respect to hubs with the most reputed company

This project should foster more on maintaining the supply structure by conducting industrial and value configuration analysis

Interdependencies

Sequential, sharing and mutual as well

The interdependencies should be established within the systematic way

Remaining interdependent from social embedding, competitive interaction, relation view and competition with operations (Raudla et al. 2015).

This project should interpret interdependencies and these interdependencies should be maintained in a systematic way.

Positioning

Business value system with respect to the vertical and horizontal scope as well.

Provides recognition in regards to the strategic networking
Provides positioning within the organizational network

Provides positioning within the company as well as the other competitors.

This project should also focus on positioning by implementing significant business value

Coordination

Standardization and mutual adjustment of the operations

Trust factors, value configuration analysis, rules for relationship as well as mutuality

Identity establishment
Rules for relationship
Trust

Coordination should also be well-maintained to build the trust factors and good relationship with the consumers.

With the help of a diagram portrayed below, the Project based management system of Samsung by making use of the generic value chain model can be illustrated.
According to the framework portrayed above, Samsung has made the utilization of the personal management in order to enhance the skill of the employees working for the company. Moreover, Samsung also focusing more on enhancing the potential customer base and this organization also focuses on analyzing the employee requirements in order to enhance its productivity (Cicmil, Lindgren and Packendorff 2016). Samsung manages its business operation by focusing on maintaining speed and time management, zero defects, quality management, digital revolution and time base competition. On the other hand, the marketing and sales operations of Samsung also deal with the improvements in design, managing collaboration and competition (Miterev, Mancini and Turner 2017). Apart from that, in project based management, Human Resource Management mainly deals with several operations such as global talent, P/S stock option, regional specialists, soft-driven company, securing outstanding talent, performance-based rewards and highly educated people.
Business Activity Alignment – Samsung generally deals with its operations by aligning the activities to execute its projects. Therefore, it has become the essence for this company for bringing new innovation within the market that fulfills the customer requirement in terms of remaining ahead of their competitors (Khan and Rasheed 2015). From the critical analysis portrayed in this study, it can be seen that Samsung generally utilizes the innovative approaches of project based management. The innovative approaches of project based management have played significant role in implying research in the areas of functional differentiation, innovation in technology and trends, customer demands, organizational resources and others (Pinto, Dawood and Pinto 2014).
Conclusion
After conducting the entire study, it can easily be stated that the success of a particular project mainly depends on the strategic alignment with the output necessary for an enterprise. Thus, in this context, this particular study has successfully depicted that the innovative approaches within the project based management take a crucial part in achieving the organizational success. However, after analyzing this comparison, it can be recommended that the working principle of this organization should emphasis on properly understanding the customer requirements. Therefore, in this regard, a drastic transformation has been noticed in Samsung by making use of the American working style. The organizational efforts also help this company to compete with the other organizations such as Nokia, Sony, Apple and other companies in smart phones or mobile as the benefit of the drastic transformation. Thus, Samsung basically works by aligning with the operations to execute the project. This study has successfully portrayed the fact that it has become the essence to Samsung for incorporating innovations within its projects and launching those innovations within the market which can ultimately accomplish the customer requirements ahead of the competitors. It can also be recommended by analyzing the business case of Samsung that the quality based management of this organization should work more on emphasize the technological resources, which are capable of driving and formulating the product quality of the enterprise.
References
Boss, S. and Krauss, J., 2014. Reinventing project-based learning: Your field guide to real-world projects in the digital age. International Society for Technology in Education.
Briand, L. and Hodgson, D., 2015. The re-regulation of control in the context of project-based work. International Journal of Work Innovation, 1(3), pp.287-304.
Burke, R., 2013. Project management: planning and control techniques. New Jersey, USA.
Cicmil, S., Lindgren, M. and Packendorff, J., 2016. The project (management) discourse and its consequences: on vulnerability and unsustainability in project?based work. New Technology, Work and Employment, 31(1), pp.58-76.
Jaime, A., Blanco, J.M., Domínguez, C., Sánchez, A., Heras, J. and Usandizaga, I., 2016. Spiral and Project-Based Learning with Peer Assessment in a Computer Science Project Management Course. Journal of Science Education and Technology, 25(3), pp.439-449.
Jia, P., Gao, Q., Ji, X. and Xu, T., 2014. Task Decomposition Method of R&D Project Based on Product Structure Tree. JSW, 9(7), pp.1894-1902.
Karsakov, A., Bilyatdinova, A. and Hoekstra, A.G., 2014, October. 3D virtual environment for project-based learning. In Application of Information and Communication Technologies (AICT), 2014 IEEE 8th International Conference on (pp. 1-5). IEEE.
Khan, A.S. and Rasheed, F., 2015. Human resource management practices and project success, a moderating role of Islamic Work Ethics in Pakistani project-based organizations. International Journal of Project Management, 33(2), pp.435-445.
Mir, F.A. and Pinnington, A.H., 2014. Exploring the value of project management: linking project management performance and project success. International Journal of Project Management, 32(2), pp.202-217.
Miterev, M., Mancini, M. and Turner, R., 2017. Towards a design for the project-based organization. International Journal of Project Management, 35(3), pp.479-491.
Pemsel, S. and Wiewiora, A., 2013. Project management office a knowledge broker in project-based organisations. International Journal of Project Management, 31(1), pp.31-42.
Pinto, J.K., Dawood, S. and Pinto, M.B., 2014. Project management and burnout: Implications of the Demand–Control–Support model on project-based work. International Journal of Project Management, 32(4), pp.578-589.
Raudla, R., Karo, E., Valdmaa, K. and Kattel, R., 2015. Implications of project-based funding of research on budgeting and financial management in public universities. Higher Education, 70(6), pp.957-971.
Samsung in. 2017. Samsung India. [online] Available at: https://www.samsung.com/in/ [Accessed 21 Mar. 2017].
Schwalbe, K., 2015. Information technology project management. Cengage Learning.
Todorovi?, M.L., Petrovi?, D.?., Mihi?, M.M., Obradovi?, V.L. and Bushuyev, S.D., 2015. Project success analysis framework: A knowledge-based approach in project management. International Journal of Project Management, 33(4), pp.772-783.

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