Sunday, August 11, 2019

Project Management (organizing a talent show) Essay

Project Management (organizing a talent show) - Essay Example Second section presents critical reflection of team work, key skills of project managers and skills and competencies gained during the project. Last section critically discusses the four articles on Project management from academic journals that are related to the study area focused during the project management task. Table of Contents Section No Title Page No Critical Evaluation 1.1 Introduction 1.2 SWOT Analysis 1.3 PESTLE Analysis 1.4 Gantt Chart 1.5 Cost Volume Profit Analysis 1.6 Summary Critical Reflection 2.1 Introduction 2.2 Team Work 2.3 Leadership 2.4 Skills and Learning 2.5 Summary Critical Discussion 3.1 Evaluation of Journal Articles Critical Evaluation 1.1 Introduction This section is an endeavor to critically evaluate the significance and implications of four out of the ten techniques namely SWOT analysis, PESTLE analysis, Gantt chart and CVP analysis in managing the project. The analyses of these tools and techniques would then be made part of the subsequent presentat ion to discuss their validity. From an objective point of learning, the study and utilization of these techniques is not only critical to educational domain but also crucial to existing practices in the industry. 1.2 SWOT Analysis SWOT Analysis is an instrumental subjective tool to identify the internal organizational factors, Strength and Weakness, and external factors, threat and opportunities to best align the organization with its strategic objectives and identify the best possible scenario for operation by augmenting the decision making process as guide reference and not with precision. Although it is a much acknowledged and widely used tool in industry, but Fine (2009) has questioned the limitations of SWOT analysis to effectively determine the strategic objectives and course of actions to be adopted by any organization. Wikipedia (2011) pointed that it is quite possible for an organization to overlook certain key facts and view the overall scenario as quite simple since the t ool lacks precision in its application. Because of its simplicity to become a mere list of facts, Cartwright (2002) suggested carrying out further analysis and research for determining the relation between negative and positive factors and how they affect each other, their magnitude and their significance in comparison to that of competitors. Piercy and Giles (1989), is of the view that categorizing facts in internal and external factors is a subjective exercise and may not deal with inherent uncertainty prevailing in the market. According to Pickton and Wright (1992), since the tool is subjective in its application, there is strong probability that accomplishments may be categorized as strength, threats as opportunities and weaknesses as decisions. As a counter argument, Coman and Ronen (2009) stressed that SWOT analysis is an effective tool to build a company’s strength, maximize opportunities, reverse its weaknesses and overcome threats. He further adds merits to the capab ility of this tool for effectively identifying the core competencies of the company. Felton (2004) goes on adding that it is not the failure of the effectiveness of a tool to present good analysis rather failure of applying it effectively. Besides the inherent limitations associated with SWOT analysis and criticism by many authors questioning its

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