Project Management Issue Report Research Paper Example | Topics and Well Written Essays - 1500 words

Project Management Issue Report - Research Paper Example Such considerably account the framework to understand the business operational management taking into account some policies, strategies, quality control, monitoring and employees’ evaluation or appraisal which are crucial in managing corporate systems. As a mechanism, it involves budgeting, economic valuing and usage of balance scorecard (Otley, 2002). Thus, it necessitates disciplined decision-makings to advance the performance of an institution driven by motivation, business policies and corporate vision or goals. Usually, project outcomes of the business corporations are measured by assessing goals or objectives against with key result areas (KRAs). As to its essence in human resource management (HRM), project managers seriously delve on organizational structures to ensure that systems can operationalize and integrate plans by optimizing desired technical skills from humane resources hence, project management experts should nurture value-system and takes direction through c lear vision and mission as common direction where all undertakings are geared (Ilies, Crisan & Muresan, 2010). Organizational managers however thought that for this to be effective and for employers to be proficient, they need to be clarified about the nature of their contracts with mutual trusts and strong commitments. PM and Governance Moreover, project management is a system that is sensitive too to corporate regulations and policies. As part of corporate policy, the management should have distinct and competitive policy in the administration, in human resource management, and in extolling policies which secure customer satisfaction by optimizing unrivalled quality service, developing competitive products' pricing, exercising corporate ethics and solid teamwork of employees with management (Dransfield, 2000, p. 70). In so doing, it’s crucial for managers to exhibit leadership by managing the company from the vantage of its objectives. Managers are also imbued with knowledg e on quality control to ensure that there is complete integration, time management, cost efficiency, open communications, systematized procurement and scheme for risk mitigation (Nastase, Tapurica & Tache, 2010). The quality control also includes standardization of working environment, its products and its operational systems. Managing the project well contribute and auger well to the national economy. Such meant illustrating necessary skills for comprehensive planning, organizing, directing and controlling the financial, technical and resources. Hence, it’s imperative to systematize relations, production, marketing and maintenance to ascertain sustainability. Managers ought to ascertain their strength, weaknesses, opportunities and threats (SWOT) and regularly conduct political, economic, social, technical, environmental and legal (PESTEL) analysis. The company must invest more to boost strengths and opportunities as well as strategize ways to deal with threats and weaknesse s. The conduct of PESTEL analyses will enable strategic decisions to meet challenges and to craft responses on potential problems. It will also help solidify its economic standing in relation to rapid changes of world economy. PM and Virtual Realities These days corporations have virtual counter part in its operation—