Economic Challenges Faced by HE Managers

Discuss about the Relationship between project management methodology.

Delivering More with less projects mainly corresponds to present for constrained resources which are present in HE (Schwalbe, 2015). It mainly deals with wider number of economic problems which are encountered in abroad and UK. Recently, the managers of HE have been able to easily attention on large number of resources so that they can easily deliver various kinds of additional services (Fleming and Koppelman, 2016). But the resources are easily constrained so the managers need to operate effectively so that they can easily effectively in the duration of new competitive environment. So the managers need to effectively deliver more with less by prioritizing or weeding out of number of activities. The project focus on looking and implementation of various kinds of resources which are available to them.

In the coming pages of the report an idea has been provided regarding business needs of this HE organization. After that scope of the project has been discussed. Various kinds of Risk associated with project has been discussed. After that the time of project charter has been provided with respect to organization. Various kinds of roles and responsibilities of the project has been discussed in details. After a list of stakeholders has been provided with respect to project.

The economic climate has not an impact on HE but it has impact on other kinds of sectors like private sector (Verzuh, 2015). It mainly focuses on impact of this prior and so the organization has been putting certain number of things for addressing a large number of situation which have more efficient. Some kinds of errors within HE sector is putting certain number of number of things for addressing the issues and understanding or recognizing of impact which can be easily tackled down and it will have eventually a large number of impact on it. The keys issues encountered by the managers of this organization is to deal with large number of challenges which mainly ensure there are any kind of cost reduction (Turner, 2016). HE mainly focuses on reduction of cost of in short interval of time and but on the least it also calculates the value of negative impact on certain number of activities in the near future.

HE is a well-known organization which is much focused on Delivering More with less. It is observed that various kinds of resources are easily constrained and so the managers need to be able to operate effectively so that the institution to be properly competitive (Walker, 2015). The business needs to tackle with large number of issues so that they can ensure about the fact that there is any kind of cost reduction (Heagney, 2016). It also aims in reduction of cost in short term and also working to tackle with the negative impact of various kinds of activities in the near future. The organization needs to make certain number of changes with reduction of cost in short term value but it has also negative kind of impact in the coming future.

Risk Mitigation Strategies

Economic risk can easily result in significant amount of loss in a particular organization. The various kinds of condition are inflation, exchange and new kinds of government regulation and other kinds of decision which can easily affect the profit of HE organization (JOSEPH. PHILLIPS et al., 2018). Without any kind of risk management strategy, it will ultimately focus on current profitability and various kinds of growth at risk. There are variety of economic risk associated with HE organization.

Risk	Likelihood	Impact	Mitigation Strategy
Interest Rate	Medium	High	Researching on the interest rate environment of an organization is considered to be important parameter for risk management.
Minimum wage	Medium	High	Increasing the wage by taking account into the market price. If the labor cost increases but the market price, then it may lead to decrease amount of profit.
Market price	Medium	High	Reducing the production when the market price decreases. It can easily led to decrease in the value of profit for a particular organization.
Taxes	High	Medium	Keeping an idea regarding the new kind of taxes as it can easily impact the business of HE organization.
Duty Rates	High	Medium	Keeping an eye on the various kinds of import and export duties can easily led to decrease in the profitability.
Cost of Materials	High	High	Minimization of cost of material as increase in cost of material can oftently led to increase of cost and managing of right value of profits.

Task Mode	Task Name	Duration	Start	Finish	Predecessors
Auto Scheduled	delivering more with less at HE organization	33 days	Mon 04-12-17	Wed 17-01-18
Auto Scheduled	Project initiation phase	12 days	Mon 04-12-17	Tue 19-12-17
Auto Scheduled	Development of project initiation document	2 days	Mon 04-12-17	Tue 05-12-17
Auto Scheduled	Interview key staff to gather requirements	2 days	Wed 06-12-17	Thu 07-12-17	2
Auto Scheduled	Develop criteria for evaluating wiki software	2 days	Fri 08-12-17	Mon 11-12-17	3
Auto Scheduled	Review open source wiki software available based on requirements	2 days	Tue 12-12-17	Wed 13-12-17	4
Auto Scheduled	Official Meeting Regarding the New Decision	2 days	Thu 14-12-17	Fri 15-12-17	5
Auto Scheduled	Finalize PID including requirements	0 days	Fri 15-12-17	Fri 15-12-17	6
Auto Scheduled	Review PID/recommendations with general manager for approval to implement	2 days	Mon 18-12-17	Tue 19-12-17	7
Auto Scheduled	Implementation	13 days	Wed 20-12-17	Fri 05-01-18
Auto Scheduled	Initiation of project planning and discussions	1 day	Wed 20-12-17	Wed 20-12-17	8
Auto Scheduled	Integrate with authentication system	1 day	Thu 21-12-17	Thu 21-12-17	10
Auto Scheduled	Develop and implement DR plan	1 day	Fri 22-12-17	Fri 22-12-17	11
Auto Scheduled	Develop test plan, test data and test the wiki	1 day	Mon 25-12-17	Mon 25-12-17	12
Auto Scheduled	Project status meeting	1 day	Tue 26-12-17	Tue 26-12-17	13
Auto Scheduled	Email status update to general manager	1 day	Wed 27-12-17	Wed 27-12-17	14
Auto Scheduled	Customize the look and feel of the wiki	1 day	Thu 28-12-17	Thu 28-12-17	15
Auto Scheduled	Setup homepage, menus and initial pages/categories	1 day	Fri 29-12-17	Fri 29-12-17	16
Auto Scheduled	Develop system documentation	1 day	Mon 01-01-18	Mon 01-01-18	17
Auto Scheduled	Develop user documentation/support strategy	1 day	Tue 02-01-18	Tue 02-01-18	18
Auto Scheduled	Project status meeting	1 day	Wed 03-01-18	Wed 03-01-18	19
Auto Scheduled	Launch the wiki	2 days	Thu 04-01-18	Fri 05-01-18	20
Auto Scheduled	Support	8 days	Mon 08-01-18	Wed 17-01-18
Auto Scheduled	On the job training as required	2 days	Mon 08-01-18	Tue 09-01-18	21
Auto Scheduled	Closure	3 days	Wed 10-01-18	Fri 12-01-18	23
Auto Scheduled	Evaluate system based on scope/PID	1 day	Mon 15-01-18	Mon 15-01-18	24
Auto Scheduled	Develop project closure report	1 day	Tue 16-01-18	Tue 16-01-18	25
Auto Scheduled	Sign off project closure report with GM	1 day	Wed 17-01-18	Wed 17-01-18	26

The various kinds of stakeholders of this ‘HE’ organization are:

• Consultants
• Administrative Staff
• Project Managers
• Programmers
• Testers
• Business analysts
• Help desk staff
• Technical support staff.
• Technical writers.

When customer round the globe make contacts then they only look for consistent answer and delivering it seamlessly to them (Mir and Pinnington, 2014). Speed is one of the important parameter which must be analyzed so that they can easily resolve some of the issues. Speed, quality and consistency of various customer support call is considered to be an important parameter for customer support. Response time in HE organization can be easily improved by following steps like

Being Human: People always wants to have an interaction with other people not with various automated system (Snyder, 2014). By showing concern for the problem of large number of customers the agents have proper idea regarding for diagnosis for large number of issues.

Acknowledge on immediately basis: Directing of customers to other departments and letting known of the customers for caring of value of brand for resolving which is coming on a usual basis (Heldman, 2018). Providing surety to customer regarding the fact they carry full amount of framework regarding the timeframe.

Knowing of your customer: With every kind of customer interaction one should easily treat it with care and right amount of thoughtfulness (Joslin and Müller, 2015). It mainly deals with the company which mainly deals with prioritization of response time and analyzing the fact how easily the individuals can easily handle it right way.

Making use of Right Tools: Making use of right technology and tools is considered to be place where team can easily struggle in more effective and efficient way (Marcelino-Sádaba et al., 2014). With the help of resolution one can easily follow the expense or quality of interaction which are made with the customers.

Consistency is considered to be an important tool for various kinds of business process (Joslin and Müller, 2015). For an organization like ‘HE’ consistency can be considered to be an important element as it provides us with lot of advantages like:

Customer Support

Measuring of changes: Being consistent helps in proper implementation of new kinds of schemes (Conforto et al., 2014). New kinds of process in HE organization will help them to analyze for measuring of changes during the idea for proper kind of working methods.

Creation of Accountability: Consistency is nothing but setting up of a particular kind of side for discussing the amount of progress on a report (Chih and Zwikael, 2015). It also helps in analyzing the date along with motivation of task.

Building of Reputation: It mainly focus on the fact that reputation of this HE organization among the various clients. It mainly focuses making use of medical staff for various value of brand and creation of loyalty for customers.

Making oneself relevant: It mainly stresses on flow of information which mainly helps in keeping in mind of clients and organization (Conforto et al., 2014). It focuses on leadership and showcasing of large number of behavior models for the given period of time. It addresses how to make use of advantage and boosting of business.

Conclusion

From the above discussion it can be easily concluded that this report is all about project charter. HE named organization has been discussed briefly in the above pages of the report. Various kinds of parameters like business need, scope, risk, time, stakeholders, response time and business process has been discussed with respect to organization named HE. A risk mitigation plan has been prepared with respect with the given organization. Various kinds of risks like interest rate, minimum wage, market price, taxes, duty rates and cost of materials has been discussed in details. Various kinds of parameters like likelihood, impact and Mitigation strategy has been provided. The key issues encountered by managers is dealing with large number of challenges which mainly focus on cost reduction and strategic aims. The timeline of the project is about 33 days. Various kinds of task like project initiation phase, implementation, support and closure has been provided with respect to the organization. Various kinds of stakeholders with respect to organization like consultants, administrative staff, project managers, programmers, testers, business analyst, help desk staff and technical support staff has been provided with respect project has been provided. A list of ways has been provided for decreasing the response time of a project like being human, acknowledging on periodic basis, making use of right number of tools. Role of consistency with respect to business process at HE has been described in details. Various kinds of parameters like managing of changes, creation of accountability, building of reputation and making of relevancy of oneself has been described briefly.

References

Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management . Project Management Institute.

Heagney, J., 2016. Fundamentals of project management . AMACOM Div American Mgmt Assn.

Heldman, K., 2018. PMP: project management professional exam study guide. John Wiley & Sons.

JOSEPH. PHILLIPS, P.M.P., CBAP, I. and PMP, C., 2018. PMP PROJECT MANAGEMENT PROFESSIONAL STUDY GUIDE. McGraw-Hill Education.

Joslin, R. and Müller, R., 2015. Relationships between a project management methodology and project success in different project governance contexts. International Journal of Project Management, 33(6), pp.1377-1392.

Marcelino-Sádaba, S., Pérez-Ezcurdia, A., Lazcano, A.M.E. and Villanueva, P., 2014. Project risk management methodology for small firms. International journal of project management, 32(2), pp.327-340.

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.

Schwalbe, K., 2015. Information technology project management. Cengage Learning.

Snyder, C.S., 2014. A guide to the project management body of knowledge: PMBOK (®) guide. Project Management Institute: Newtown Square, PA, USA.

Turner, R., 2016. Gower handbook of project management. Routledge.

Verzuh, E., 2015. The fast forward MBA in project management. John Wiley & Sons.

Walker, A., 2015. Project management in construction. John Wiley & Sons.