Maximizing Operational Efficiency: Managing Operations & Projects for Achieving Goals - Research Paper

Introduction

For most organizations, if not all, when undertaking any gravitas events, the focal point is primarily the achievement of the intended goals and objectives. To achieve intended success objectives; however, it is an inevitable prerequisite for an organization to either adopt or embrace pertinent strategies. One such vital critical organizational strategy is managing operations and projects. Mainly, managing operations is concerned with approaching day-to-day and strategic business issues systematically. Managing projects, on the other hand, is majorly concerned with organizing, planning, motivating and the control of the use of resources in the pursuit of specific goals (Walker, 2018). Therefore, the Bloomsbury Institute in its endeavour to organize a three-day welcome and induction event for next year's intake, to make the event successful, must apply appropriate managing operations and projects by relying on a skilful project manager.

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Bloomsbury Institute Project Scope

The Bloomsbury Institute has been running smoothly ever since it was established. However, since recently, the institution is facing stiff competition from other institution that has seen the Bloomsbury Institute's annual intake decrease by a large extent. The stiff competition has immersed Bloomsbury administrators into a state of panic over the possibility of the Institute shutting down. Consequently, to regain its glory, Bloomsbury Institute top leadership has settled on a skilful project manager who has been assigned to organize a three-day welcome and induction event for next year's intake, and even whose focal point extends towards attracting more learners to the Institute.

Notably, the project manager together with his team are experts in control and improving operations, analyzing events, logistics and projects in welcoming and inducting new intakes, therefore, underscoring their reliability and dependability. More so, the members of the team are very active in the exploration of interfaces in the field of information systems, environmental sustainability as well as knowledge management that is undeniably very fundamental in making the event successful. The project is aimed at ensuring that all students feel welcomed and at the right place to ensure none of them abandons the Institute along the way due to feelings of displeasure and discomfort, something that has been experienced in the past (Walker, 2018). The need to ensure a smooth welcoming and induction process is to market the institution since the intake will largely determine the opinion and notion the first-time students will perceive the Institute that is very key in either attracting or repelling more students.

Content

The Bloomsbury Institute, in its welcoming, and induction requires two types of information for the project to succeed. The first type of information to be dispensed by the team is the general information about the Institute and the second information will entail a profound review of the Institute's history as well as the mission and how the new intakes are anticipated to contribute to the Bloomsbury Institute. The welcoming and induction process will as well include viewing and introduction to the health and safety procedures, touring the surrounding buildings as well as the introduction to other students as a gravitas necessity aspect for ensuring the new intakes feel at the right place. The induction process will also feature the inclusion of vital communication elements equipped with the knack to communicate the several arrays of benefits to the newcomers. For example, the newcomers will be introduced to critical aspects relating to Bloomsbury Institute information technology. The exercise will characteristically entail the allocation of computer software and hardware coupled with the basic guidelines for the acceptable use of the Institute's resources (Walker, 2018).

The project team will, therefore, be primely focused on introducing the newcomers to Bloomsbury Institute culture, organizational expectations, work standards and structure. Hence, all the intakes of the year are expected to meet the project team that will help them in adjusting and adapting to the Institute. More so, their welcoming and reception will include some form of lunch or an outing that will also be attended by the direct managers and executive leadership of the Institute to make the event more excellent (Cox, 2011).

Project Cost Management

Project cost management refers to the process of estimating, allocating, as well as controlling the costs in the Bloomsbury Institute welcome and induction event (Pettinger, 2007). Mainly, the process allows the Institute to predict or forecast forthcoming expenses with the primary aim of avoiding the possibilities of spending beyond the budgetary allocation. Notably, the event is slotted for only three days that essentially underscores the verity that it will be relatively economical. The calculation of the project just as it is the norm is calculated during the planning phase to allow its approval before the commencement of the three-day welcoming and induction event. Importantly, the execution of the project will be characterized by a corresponding tracking and documentation of all incurred expenses to make sure there is no inflation of the costs or spending overboard (Cox, 2011). Therefore, upon the completion of the project, a comparison will be made between the actual costs and the predicted costs that is very pivotal in the provision of futuristic benchmarks or standards of Bloomsbury Institute project costs and management plans.

Project Time Management

Project time management refers to the apropos management of the time spent as well as the progress made on specific project activities and tasks. Exceptional time management in project management demands appropriate scheduling, planning, controlling and monitoring of all relevant project activities (Pettinger, 2007). The Bloomsbury institute event project just like other projects equally has an official end date that is after three days which underscores the fundamentality of a project time management as a component of a project plan. Hence, for the Institute's event to meet the date, the project managing team will prepare a suitable schedule. The team will, as a result, be very keen in time management at both personal and group level principally to make sure that the schedule is aptly met. To make the project time management more successful, Bloomsbury Institute event will adhere and have its project scheduled designed according to the seven processes that include planning of the schedule management, definition of activities, the sequence of activities, estimating the resource available for the activity, estimating the duration of each event, developing the schedule and controlling of the schedule (Narayanan et al., 2010).

Project Risk Management

Risk is characterized at two levels for undertakings, projects and portfolios. At the nitty-gritty level, individual risk is marked as a questionable occasion or situation that, should it happen, will affect the accomplishment of at least one target (Jerbrant, 2013). Likewise, at the more significant level of the undertaking, program or portfolio, by and large, the risk is characterized as presentation of partners to the results of variety in result emerging from a collection of specific risks together with different wellsprings of vulnerability. Risks are then distinguished and reported in the risk register (Pettinger, 2007). The general centrality of recognized risks is evaluated utilizing subjective systems to empower them to be organized for additional consideration. Quantitative risk examination may likewise be used to decide the consolidated impact of risks on destinations.

The procedure proceeds with chance reaction arranging, meaning to keep away from, lessen, move or acknowledge risks just as an adventure, improve, offer or reject openings, with the possibility (time, cost, assets and strategy) for risks which can not be overseen proactively. The last advance is the usage of concurred reactions (Narayanan et al., 2010). The entire procedure is iterative. For instance, evaluation or reaction arranging can prompt the distinguishing proof of further risks; arranging and executing reactions can trigger a requirement for additional examination, etc. It is likewise imperative to recognize and oversee conduct effects on the risk procedure, both individual and gathering since these can significantly affect chance administration viability (Jerbrant, 2013).

Risk the board at undertaking, program or portfolio level must not be led in separation and must interface with the association. Risks at the venture level may require acceleration to program and portfolio. Risks can likewise be assigned from more significant levels to bring down levels. Also, P3 risk the executives must contribute, as suitable, to both business chance appraisals and hierarchical administration necessities. The P3 chief must know about risks that have an impact outside their extent of duty, for example, those that could influence the association's notoriety (Pettinger, 2007). The administration of general wellbeing and risks is usually rejected from P3 risk the board, as the administration of these risks is customarily dealt with by a different capacity inside the association.

Risk the board at venture level is frequently centred around singular risks that, should they happen, will influence the task's goals. It is, nonetheless, likewise significant for the venture director to comprehend the general risk presentation of the undertaking, with the goal that this can be accounted for to the task support and different partners. Risk the executives must be firmly adjusted to plan the board. Cost, time and asset assessments ought to consistently consider (Narayanan et al., 2010). The undertaking chief is responsible for guaranteeing that risk the board happens. Contingent upon the size and intricacy of the undertaking, a pro-risk supervisor, might be delegated to direct and encourage the risk of the boarding procedure.

Project Communication

Communication is undeniably much gravitas in the management of a project. For a project to be executed safely, effective communication is a critical prerequisite to the entirety of its stakeholders. Consequently, the Bloomsbury institute project team is very much committed to ensuring there is effective communication since any aspect of poor communication is a catalyst to the projecting failing. Communication in the project refers to the exchange and sharing of information and the expression of opinions, thoughts, ideas as well as feelings through the use of words and other alternative methods (Jerbrant, 2013). Hence, as per the Bloomsbury context, the project communication denotes the exchange of experiences, skills and know...