By: Craig W. Roggow
Best Practice Companies in Project Management
Project management is a pertinent component of most companies in the current environment for global business. The framework used in the management of projects has significant implications on the company’s overall performance. Most large-scale companies have independent departments that focus on project management. However, there are other firms that do not have adequate platforms for project management. This hampers the efficiency of such companies in the implementation of projects. In view of such aspects, it is essential to assess some of the most outstanding best practice companies from the perspective of project management. Wal-Mart and Dell are two outstanding companies in the field of project management. These are companies with establishments across the globe and have been highly effective with regard to the implementation of numerous projects. Both Dell and Wal-Mart are model companies with regard to project management. This analysis assesses the various similarities and differences between these companies. Consequently, their best practices in project management will be put into perspective.
Objectives of the post
- Identify and explain what these bestpractice companies do within project management.
- Define the similarities between Dell and Wal-Mart.
- Describe major differences between Dell and Wal-Mart.
- Critique Dell and Wal-Mart best practices.
- Implementing best practices.
Dell is an outstanding firm in the computer technology sector. The firm’s main specialty is the manufacture of hardware components for computers. This is a highly dynamic sector that requires effective mechanisms for project management. There are various perspectives that exemplify Dell’s exemplary initiatives in the field of project management (Nicholas, 2008).
Firstly, the company uses the agile PMLC model in the management of projects with high levels of uncertainties. In the technology sector, projects are characterized by high levels of uncertainty. For instance, it is massively complex to determine how the market would respond to a new hardware component for laptops. In view of such uncertainties, Dell uses the agile PMLC model to streamline projects involving the introduction of new products. Through this mechanism, Dell has been successful in project management. In addition to the management of uncertainties, Dell has been highly effective in the mitigation of the various risks which characterize projects. The management of risks has immensely boosted the standards of overall performance in the organization.
Wal-Mart also has an exceptional framework for project management. The company specializes in retail services across numerous jurisdictions. As a global brand, the company has incorporated various aspects of project management in order to attain efficiency (Kerzner, 2010). For instance, the company’s projects for expansion are characterized by brilliant techniques of project management. This has greatly enhanced the company’s marketing strategy. Additionally, Wal-Mart’s mechanisms for inventory management are exquisite. This is because of the company’s integration of project management into its functional modalities.
The project management practices for Wal-Mart and Dell Inc. are characterized by various similarities. Among the most notable similarities in these firms is the combination of different models for project management. This is largely because of the suitability of different models to different phases of project management. This approach has greatly benefitted the companies in the attainment of project management efficiency (Clemens, 2009).
Another similarity involves the integration of technology into the project management systems. The use of technology has greatly boosted the efficiency of the companies’ respective mechanisms for project management. For instance, brilliant technology systems have been incorporated into the inventory management platforms for Wal-Mart. Similar trends are also evident in the project management systems for Dell Inc. Another significant similarity pertains to the companies’ use of agile PMLC model. The agile model is integrated into the project management framework for both companies as a platform for mitigating risks (Baker, 2010).
Additionally, both companies use the model in the handling the different uncertainties which characterize organizational projects. These dynamics highlight the pertinent perspectives through which the project management practices of Dell and Wal-Mart are similar. Project managers are prominently used in the actualization of projects in both entities. In essence, the project managers formulate intricate plans for different projects. This has been strongly influential in boosting the efficiency of projects in Dell and Wal-Mart.
While both Wal-Mart and Dell are multinational entities, some differences are notable in their respective frameworks for best-practice in project management. The project management mechanisms at Wal-Mart are subdivided into distinct units. These subdivisions focus on different phases of the project. In contrast, Dell, Inc. employs a holistic approach to project management. This strategy helps the company to conduct all phases concomitantly. The second difference concerning both companies pertains to the actualization or implementation of projects. The implementation initiatives for Wal-Mart are mainly associated with elaborate planning based on the organizational targets. However, such a platform is not used by Dell Inc. This is largely because of the dynamism of projects in the technology sector.
The traditional approach is highly dominant in the management frameworks for Wal-Mart. In essence, the company uses this strategy in the management of projects whose requirements are more or less precise (Clemens, 2009). However, the traditional project management approach is sparingly used at Dell. Communication is an outstanding aspect which is strongly emphasized in the project management framework for Wal-Mart. The company perceives communication as a sensitive component that determines the efficiency of organizational projects. However, Dell, Inc. does not strongly accentuate on projects.
Risk analysis is a prominent component of project management for both Wal-Mart and Dell. The companies have exceptional mechanisms for the mitigation of risks. For instance, Dell uses the platforms for agile the PMLC model in order to avert uncertainties. The extensive integration of risk analysis components has formed the basis of consistency in the efficient management of projects in both organizations. While Dell is a highly successful organization, it has not developed adequate mechanisms for communication in project management. Communication is massively influential especially in terms of transition of different phases (Nicholas, 2008). Consequently, the addition of communication mechanisms in Dell’s systems can streamline the company’s project.
Quality metrics have not been integrated adequately in the project management platforms for Wal-Mart. In essence, quality metrics cater for the review of the standards of success attained in an organization. Timeliness serves as another pertinent element of project management. The project scope should always be time-bound. This is a strategic framework that massively enhances the efficiency of all phases of the project.
While both Dell and Wal-Mart are characterized by brilliant project management practices, timeliness should be incorporated into their respective blueprints for projects (Baker, 2010). Such frameworks will be helpful in the alleviation of costs. In any company, cost mitigation is a critical dynamic of efficiency in project managements.
The overall framework for project efficiency in an organization is massively influenced by the implementation mechanism. There are various strategies for consideration as pertains to implementation frameworks. Firstly, scope management is an essential aspect in the implementation phase. The mechanism of scope management facilitate for the timely completion of all phases in any project. The combination of different models of project management is also immensely beneficial. Such a combination helps in the maximization of all phases (Wysocki, 2012). Another significant aspect in the implementation of best-practices pertains to the involvement of different stakeholders. Stakeholder management is crucial in the identification of potential pitfalls and also in the generation of essential information that relates directly to the entire project (Kerzner, 2010). Many companies such as Wal-Mart have executed their projects using elaborate frameworks for stakeholder involvement.
Quality management also serves as a sensitive aspect of the project management framework for projects in any organization. In essence, quality metrics should be employed in the assessment of progress. Consequently, such an approach would be massively crucial in the development of adequate corrective measures (Lock, 2007). Teamwork is also a prominent element of implementing organizational projects. Teamwork enhances cooperation is all stages of the project. Such dynamics also cater for conflict alleviation among different role players in the entire framework for project management.
Both Dell and Wal-Mart are model companies with regard to project management. The success of both firms is founded on excellent blueprints for project management. In view of such uncertainties, Dell uses the agile PMLC model to streamline projects involving the introduction of new products. Through this mechanism, Dell has streamlined its framework for project management. In addition to the management of uncertainties, Wal-Mart also has an exceptional framework for project management. The company specializes in retail services across numerous jurisdictions. As a global brand, the company has incorporated various aspects of project management in order to attain efficiency.
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