Reson is a Danish company which manufactures tools for marine acoustic applications and survey accuracy requirements. These products are used by the oil and gas industries, marine researchers and naval surveillance teams. Reson needs to rethink on the way it works on product development. Reson’s R is working with primitive technologies with development times span up to three years. To optimally reach the company’s global growth potential, Reson’s management must widen its customer base, rethink how to apply technologies in innovative ways, and bring new customer-oriented solutions fast to market. The focus for project management is time, i.e., meeting project deadlines. This sets completely new requirements for project planning and company cooperation.
Reson’s Managerial Challenges at the beginning of the 1990 was how to deliver new customers’ needs quickly and diligently with the current technologies. It was necessary for Reson management to revise its approach to new product development. Reson R was still based on several-year development projects around the basic technologies. They needed to change the emphasis by quick application of existing technologies. This required collaborating with selected major customers and adapting supporting technologies to form new products. Reson had to cut product development time from years to months in order to meet demands. The whole organisations’s needed to develop a new rhythm and strong coordination. According to a research within Reson management much of major issues were caused by misunderstandings or lack of information exchange between different departments. Therefore reson management decided to devised a way to tackle this issue by introducing “free mobbing Friday,” especially by employees in R&D and production. Employees in R &D department were permitted to debate on the negative issues posed with collaboration with colleagues and other bottlenecks that can be avoided.
In order to spearhead the changes, the management team put plenty of emphasis on psychological mapping and training of individuals and teams. Reson management thought that teams needed to have the right equilibrium of enthusiasm, practical knowledge, and analytical skills. In addition to which, the company emphasized intuition and a high energy level in the employees. The management looked for the best combinations of teams to work together. Creativity and innovation mostly came from people below 35 years of age. Young talents need to be balanced with experience, but young people are the ones who bring new ideas into a high technology environment. With the need to radically cut the development times and the need for new people, we revamped the whole R&D department and placed a young guy of 28 years to head R&D. Much of these measures proved to be successful: productivity rocketed as much as 50%.
The key elements of Reson project management
Profit. Reson expects all employees to contribute for profitable operations by active planning and effectiveness.
Customers. Prioritizing customers voice throughout the organization. Cross connectivity amongst different departments was necessary to find innovative ways to tackle customer problems.
Markets. Understanding the dynamics of global markets is essential. Reson has to react immediately if a customer’s needs suddenly change from.
Organization. Organization has to be flexible. A strong feeling of “getting the job done” has to permeate the company. Members of the organization have to co-operate. Dedication to goals needs to be strong.
Growth- Decisions from the management needed to be made quickly in order to meet the chosen growth target.
Management. Management’s work is to analyze the markets and sense the movement of market dynamics. Managers need to impart their knowledge with the rest of the organization in real time.
In Reson new project management approach, Management and organisation are the most important element. For various reasons, Firstly, they form the backbone of the company. Hence they are responsible for achieving the company objectives. Secondly, the management is also liable for efficiently integrating IT in their mission.Thirdly, the management is accountable for identifying internal and external threats. And putting tactical measures in place. Fourthly, the management decides on the right budget and allocation of resources for chosen projects.
Personal Experience with Project Management
The company involved dealt with purchasing and logistics of engineering tools to various cement plants in Middle East. Some internal driving changes in our organization was cutting own unnecessary manpower. Human resource was diverted where it was required. Specially in areas like finance, purchasing and procurement. Various other communication channels were ratified in order to improve communication amongst employees. Periodic KPI review was reduced from quarterly to every 2 months to meet the chosen target as well rigorous approach to
R & D. Reducing operations financed by loans. And the profit margin was reinvested in other projects using portfolio management. Lastly, the company devised special approach to deal with middle men problem. Employees were encouraged to complete tasks in a cost effective manner. Thereby rewarding employees with incentives if they succeeded in their task cost effectively.
External Driving changes in our organization were keeping a closer contact with our customers. Offering clients better deals was the organization biggest aim in order to stay ahead of our competitors. Client satisfaction was reviewed on a constant basis and changes were implemented faster. Especially in delivering goods on time and meeting deadlines ahead of time. Based on management experience the organization became more accustomed to different market conditions. Therefore, the management had a steady set of strategies in place when there are unpredictable market news.
For any project meeting the project deadline involves paramount importance. Firstly, select a prior provisional date before actual. Managers should to finish their objectives by the provision date. Subsequently, have a decisive plan with contingent events in mind .And draw the maximum utility from your employees. Review employees productivity rigorously.
Lastly, initiate an investigation on employees who are not productive and take stringent actions on them.
The general experience of project management is the lack of rhythm amongst employees purely because new employees are unable to fit the company’s culture. Moreover, some employees have less enthusiasm in their jobs. Another issue is the communication style used people of various ethnicities which causes some confusion. Nevertheless, there is a huge problem politics and differences amongst employees which reduces the productivity of the company. The success of a project of a project highly depends on senior management with shrewd decisions and smooth implementation of strategies. However, the positive experience of project management is prioritization of work. Other positive aspects of project management include porters diamond framework, PESTLE and SWOT analysis, SMART Objectives. Some companies invest in training their employees with special set of project management skills which is decisive step to strengthen their course of operations.
Despite all the positive measures by managers projects may still face disruptions because of uncertain market events. Project managers taking steps to prevent factors that cast negative shadows on their projects. Ensuring that all the participants are persistent, dedicated and unified for a common goal. Involvement of stakeholders is the main key to a project success.