“Knowledge has become the key economic resource and the dominant and perhaps even the only resource of competitive advantage.” – Peter Drucker In a globalize economy, knowledge is becoming the greatest asset of organizations. Organizations are recognizing that business excellence can be achieved only with a strong foundation in knowledge. Many times people do described as the information and knowledge. Knowledge can be distributed as the information subjected to judgment and context, while information is nothing bur the processed data and data is the unorganized and unprocessed facts and figures. Events generate data, processed data becomes information, information subjected to judgment and experimentation becomes knowledge and this experience again generates newer events. In India acquiring ‘Gnana’ ( Which in Sanskrit language means knowledge) is the ultimate and the Upanishads talk of the knowledge in various terms. Kalam (2004), former President of India, observed that a knowledge society is one of the basic foundations for the development of any nation. Knowledge Management can be defined as “a systematic process of identifying, capturing and transferring information and knowledge to help make best decision, exploit business opportunities and innovate”. It basically aims to bridge the gap between ‘what an individual knows and what he/she needs t know’ and ‘what an organization knows and what is needs to know’. Knowledge management revolves around the concept that one of the most valuable corporate assets is the experience and expertise floating around inside employee’s heads. In order to manage this intellectual capital, executives must devise a way to capture and share that knowledge with co- workers. If done right, knowledge management is supposed to create more collaborative environment, cut down on duplication of effort and encourage in knowledge sharing – saving time and money in the process.
There is no such formal definition for KNOWLEDGE MANAGEMENT. The term KNOWLEDGE MANAGEMENT (KM) has come to compass the gamut of Organizational processes, responsibilities and systems directed towards assimilation and dissemination, harvest and reuse of knowledge. It can be thought of as a tripod with its three legs defined as follows. 1. CONTENT:
To be able to convert information into knowledge- knowledge that is reliable, available in the right form tailor made for diverse target groups, and which is readily accessible. The knowledge could take diverse forms such as technical contents, business intelligence, approach documents, artifacts, best practices, methodologies, FAQs (Frequently asked question), check list, etc. 2. CULTURE:
To be able to sustain a culture of knowledge sharing both as a process, as well as philosophy. 3. TECHNOLOGY:
To be able to harness the power of technology to make knowledge available on demand. The goals of Knowledge Management (KM) are the same as any management plan: long term organizational viability through the consistent generation of stakeholder’s value. Continuous, rapid and radical change is the characteristic of public and private organization world over. In order to function in this rapidly changing environment new attitudes and approaches within organizations are of great demand for success in this volatile environment. Harvard Business Review 1997 posed the question to Peter. Drucker and Peter Senge: “What problems or challenges do you see already taking shape for business executives as they move into the next century?” Drucker and Senge identified changes that were not technical or rational in nature as much as cultural: how to lead organizations that create and nurture knowledge, and how to maintain, as individuals and organizations, our ability to learn. De Geus also pointed out that “during the past 50 years, the world of business has shifted from dominated by capital to dominate by knowledge” Additionally, there are volumes of research on the...
...Note: Below are some of the topics of projects for example only. You may visit the organization and the guide (Manager from the particular Organization may suggest you some suitable topic related to the Organization) Suggested topics are Projects topics for MBA but are not limited to:
Sl.No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22
Project Topics PROJECT TOPICS FOR HUMAN RESOURCE MANAGEMENT A study of performance appraisal / performance management system in XYZ organization Assessment of role stress amongst the employees of XYZ organization Job satisfaction survey at XYZ organization Competency mapping in an organization Training effectiveness in an organization Study of organizational culture OCTAPACE profile. Motivational analysis of organization A comparative study of team effectives in an organization: Team effectiveness assessment measure. A study of Compensation Management System A detailed study of promotion and reward policy of organization A study of quality of work life in an organization. Mapping training need of employees: Training Need Analysis PROJECT TOPICS RELATED TO MARKETING Formulation of Marketing Strategies to Improve Market Share of LG Microwave Ovens Improving the Effectiveness & Efficiency of Operations at Cox & Kings India Ltd. Demand Forecasting for Orion-ERP Package for ICICI Infotech in Bangalore, based on Small & Medium Enterprises. Developing a Service...
...The Project Management Institute (PMI) defines a project as any work that happens only once, has a clear beginning and end, and is intended to create a unique product or knowledge (Mango, 2008). A project may be as simple as organizing a one-day event or as complex as constructing a nuclear reactor. It may; involve only one person, or thousands; last several days, or many years; be undertaken by a single organization, or by an alliance of several stakeholders. Schwartz (2008) identifies four characteristics of a project; first, uniqueness. No two projects are exactly the same. Even if two projects have the same goals, many aspects can be different. Second, a project is temporary with a defined start date and end date. Third, a project is goal oriented: It revolves around the primary goal and considered done when the goal is achieved. Lastly, projects must meet or exceed stakeholders’ expectations in order to survive.
It is said, the technical dimension represents the “science” of project management while the socio/cultural dimension represents the “art” of managing a project. To be successful, a program manager (PM) must be a master of both dimensions (Gray & Larson, 2008). The technical side of the management consists of the formal, disciplined, pure logic parts of the process and relying on formal information...
...Topic: | Project Closure and Oversight |
Topic Objectives: | By the end of this tutorial you should be able: * To appreciate the importance of engaging in project reviews * To identify the major elements of a project review * To understand key issues surrounding project closure * To provide useful advice for conducting performance reviews of project members. * To develop an appreciation for the value of lessons learned * To provide a primer of retrospective methodology * To encourage students to pursue a career in project management * To understand the operational environment in which you execute your project * To identify and discuss major challenges confronting the practice of project management * To provide guidance in pursing a career in project management. |
Reference: | Larson and Gray, 2011, PM: The Managerial Process, Chapter 14, 16 |
Learning Tasks: |
SECTION A: Short Answer Questions |
1. What major information would you expect to find in a project review? * Classification of the project—e.g., large/small, platform/incremental, complex/ typical * Analysis of information gathered * Recommendations * Lessons learned * An appendix with backup information to support recommendations. 2. Why is it...
...Understanding the role of project management in today's business environment
Project management is an essential part of businesses and industries in order to advance ahead and add value to products. Project management enables companies to innovate, plan strategically, and for the economy to progress. The important parts of projects are often values such as team working, planning, innovation, time and budget management, and leadership. In the modern society, some projects can be pharmaceuticals (inventing new drugs), IT solutions (new technologies), energy and environment (other sources of energy such as solar), and military (new weapons and machines). The similarities are such that these projects are undertaken to improve the lives of people. However, the main aim of projects is to find out about something by using resources and ideas and put together to achieve the end product.
Project management is about being organized from the beginning of the job to the end. It is about having an effective and efficient team with a leader that can encourage cooperation and motivate to get results. (Six Sigma Online, 2012)
First to take on project, the team must be selected. Each member should be good at their own tasks and responsibilities while able to work together with other members as well. Then decide on a goal and...
...FOUR TYPES OF IT PROJECTS
I. Resources-based Projects
In these projects, the teacher steps out of the traditional role of being an content expert and information provider, and instead lets the students find their own facts and information. Only when necessary for the active learning process does the teacher step in to supply data or information. The general flow of events in resource-based projects are:
1. The teacher determines the topic for the examination of the class.
2. The teacher presents the problem to the class.
3. The students find information on the problem/questions.
4. Students organize their information in response to the problem/questions.
Relating to finding information, the central principle is to make the students go beyond the textbook and curriculum materials. Students are also encouraged to go to the library, particularly to the modern extension of the modern library, the internet.
The inquiry-based or discovery approach is given importance in resource-based projects. This requires that the students, individually or cooperatively with members of his group, relate gathered information to the ‘real world.’
The process is given more importance than the project product. It doesn’t matter for example if each group comes up with a different answer to the problem. What matters are the varied sources of information, the line of thinking and the...
...SHAH ALAMFACULTY OF CIVIL ENGINEERINGBACHELOR OF ENGINEERING (HONS.) CIVIL(EC 220) |
ENGINEERS IN SOCIETY(ECM507) |
ABANDONED PROJECT AT HULU KLANG |
GROUP : EC220 7N |
PREPARED BY | : | MUHAMMAD ZULHILMI BIN ABD RAHPALAHMAD DHIYAUL ISLAM BIN MOHAMMADKHAIRUL IZWAN BIN AMERRUDDINMUHAMAD AIZAT BIN ARBAIE | 2011818624201129752620114649942011222944 |
PREPARED FOR | : | Ir Abdul Halim bin Abdul Ghani |
DATE | : | 13 MAY 2013 |
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Abandoned projects is one the major problems in industry in Peninsular Malaysia. There were many reasons leading to this problem. This action has caused multifarious problems to the stakeholders, particularly the purchasers who become the end user. Until to date there is no effective and once-and-for-all means to face the problems of abandoned projects. An analysis of the sector in Malaysia shows that failed developments however tend to show something more than the mere recession.
Mismanagement and fraud appear at the top of the list of faults and problems. There is no real effort to tackle the core issues behind these failures for one reason or the other. Unless these projects and their failures are aired in open courts people will continue to fumble in the dark for the real reasons of failures...
...describe a project based organization and compare it to other basic organization types: functional and matrix organizations. Many companies will not perfectly fit either of these definitions. Yet in most cases one will be able to identify the basic organization type that most closely matches a company’s structure.
3.1.1 FUNCTIONAL ORGANIZATION
A functional organization groups employees and activities by functions (e.g. marketing, engineering, finance). Each function is typically led by a function manager, who reports to the senior management of the company. A key advantage of functional organizations is that knowledge, skills and facilities for each functional area are consolidated. This promotes economies of scale. In addition employees develop in-depth functional skills. (Daft, 2007) This makes the functional organization well suited for mass production of consumer goods and other industries where specialization of functions and scale effects are key (Hobday, 2000). A main weakness of the functional organization is its rigid structure and low horizontal coordination (between functions). This makes it slower to respond to environmental changes and specific customers’ requirements. (Daft, 2007)
3.1.2 MATRIX ORGANIZATION
A matrix organization groups employees and activities simultaneously by both: functions and major cross-functional projects. In a balanced matrix organization authorities and responsibilities are shared equally between...
Projects are used today as a way of achieving a variety of outcomes in local or international locations for new constructions, new product development, product improvement, process design, process improvement, utility installation, theory and technology development, and many more. Bringing a project to a successful conclusion requires the integration of numerous management functions like controlling, directing, team building, communication and others. It also requires cost and schedule management, technical and risk management, conflict and stakeholder's management, and life cycle management.
"Whirlpool Corporation is a global manufacturer and marketer of major home appliances, with annual sales of over $13 billion, 68,000 employees, and nearly 50 manufacturing and technology research centers around the globe. The company markets Whirlpool, KitchenAid, Brastemp, Bauknecht, Consul and other major brand names to consumers in more than 170 countries." (Source: http://whirlpoolcorp.com/about/default.asp)
Whirlpool Corporation is into selling of high quality home appliances. They have over 450 sales agents across multiple states. They have decided to implement an on-line sales program for the agents. The new Internet based sales program is expected to increase the sales volume and enhance the profit margin. Moreover it will also help in improving the agent's productivity and thereon customer's...