Business Finance Homework Help

I’m working on a management writing question and need an explanation to help me learn.

1. What are some of the principal reasons why project man- agement has become such a popular business tool in recent years?

2.What do you see as the primary challenges to introduc- ing a project management philosophy in most organiza- tions? That is, why is it difficult to shift to a project-based approach in many companies?

3. Compare and contrast the four project management matu- rity models shown in Table 1.3. What strengths and weak- nesses do you perceive in each of the models?

4. The largest professional project management organization in the world is the Project Management Institute (PMI). Go to its Web site, www.pmi.org, and examine the links you find. Which links suggest that project management has become a sophisticated and vital element in corporate success? Select at least three of the related links and report briefly on the content of these links.

5. 4. The chapter suggests that a definition of strategic manage- ment includes four components:

a. Devpeloping a strategic vision and sense of mission b. Formulating, implementing, and evaluating

c. Making cross-functional decisions d. Achieving objectives

Discuss how each of these four elements is important in understanding the challenge of strategic project man- agement. How do projects serve to allow an organiza- tion to realize each of these four components of strategic management?

6. You are a member of the senior management staff at XYZ Corporation. You have historically been using a functional structure setup with five departments: finance, human resources, marketing, production, and engineering.

a. Create a drawing of your simplified functional structure, identifying the five departments.

b. Assume you have decided to move to a project structure. What might be some of the environmen- tal pressures that would contribute to your belief that it is necessary to alter the structure?

c. With the project structure, you have four ongoing projects: stereo equipment, instrumentation and testing equipment, optical scanners, and defense communications. Draw the new structure that cre- ates these four projects as part of the organizational chart.

7. Case study in the picture 2.1 question 1 and 2