Paper Example on New Midtown NYC Headquarters Project

Paper Type:  Essay
Pages:  6
Wordcount:  1483 Words
Date:  2022-06-05

Introduction

JP Morgan has recently indicated that they are going to develop new Park Avenue headquarters. This is expected to be one of the largest projects within the eastern side of New York. The proposed development is a 2.5 million square feet building which is expected to house up to 15,000 workers compared to its old headquarters which was built in the 1950s with a potential of accommodating only 3,000 workers (WETFEET, 2005, p.8). This is part of the Company`s initiative to ensure that they are fully functional and ready to thrive in a 21st century class environment (WETFEET, 2005, p.8). For the development to succeed, there are various issues that should be addressed. One pertains to how the structure of the organization is likely to impact on the project. It will also be proven why leadership is more influential compared to management in this kind of development. Other aspects that will be focused on involving issues that ought to be considered in the course of coming up with a project, and finally the role that a partnership would play.

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Effect of Organization`s Structure

It is apparent that the organization`s structure is likely to have a substantial effect on the management of the project. New Midtown NYC Headquarters Project is not an exception and it is also susceptible to JP Morgan`s structure. The common organization structures are the functional, matrix and projected structures. The matrix structure comprises a situation whereby control is shared among different individuals within the Company (Atkinson, Crawford and Ward, 2006, p.691). In this case, the project manager delegates responsibility for the current project to functional managers who are tasked with coordination of the operations being undertaken. This indicates that the project manager only allocates and organizes the work to be done by various teams. If one team of individuals is reluctant to deliver effectively, the project may end up experiencing problems. For that reason, it is important that the project manager ascertains that every person taking part in the construction ends up fulfilling their duty as expected.

The organization`s structure is likely to have a significant effect on the management of the project. For example, it will enable the development to be completed within the required time frame. In a matrix structure, the delegation of duties amongst different leaders will ensure that they all work on something specific. It is also highly unlikely that employees will be taken away from this project to work on other disciplines belonging to a different department. In this case, it will be possible to contain managerial discontent, especially where managers steal workers from other sectors to join their developments (Belout and Gauvreau, p.10).

The structure is also going to have a positive impact on the project since it promotes clear articulation of laid out objectives. For instance, the chief objective of the New Midtown NYC Headquarters Project was to offer a better working environment which is capable of accommodating more employees. Based on the structure, the developers will be in a position to maintain their focus on this agenda. Besides, this will be an effective means of utilizing the limited human resources. A matrix structure is well organized to the extent that a few individuals can work effectively without the need to place them under close supervision (Belout and Gauvreau, p.10). It is advantageous based on the idea that individuals who work in the same department get to work alongside each other. Such increased collaboration has the effect of producing greater results since such people are already used to working together.

When working on a project, one of the key goals is to ensure that the original developers are retained throughout the entire life of the project. The structure of JP Morgan Chase ascertains that the project leaders are reserved during the whole duration. Each has a specific responsibility which they are required to tackle within a specified period. In other structures, part of the team members leaves half-way through the project hence paralyzing the operations. One can, therefore, comprehend why the structure of the Company is essential to the development taking place.

Project structures have for long been known to motivate workers. The latter individuals have higher morale when they are working in an organized fashion. Disorderliness is tantamount to chaos and in most cases, it has been observed that other structures offer loopholes for project leaders who are consumed by laxity. It is thereby effective since, there is no possibility of conflicts arising while the project is being undertaken (Teece, 2000, p.46). When the structure is adhered to, all the members responsible undertake their duties, especially those whose responsibility is to ensure that the organization complies with the all the regulations before construction is initiated. In a matrix structure, there is improved communication which is vital to the success of the project. This happens to be one of the things that are expected to occur while the project is underway.

The structure of the organization will impede on the ability of workers sharing resources. This will be very fundamental in ensuring that the Company avoids unnecessary expenditures. The current structure is also effective because ideas can easily be changed depending on programmatic needs. In regards to the workload, employees can work more efficiently based on the idea that responsibilities have been shared among different sectors of the organization. Such efficiency translates to better results on the project being undertaken. Further still, it is easier to influence the workers in this type of structure compared to any other observable in organizations.

Despite having a positive impact on the project, there are some shortcomings which are likely to result from the structure of the organization. One involves the criteria for reporting. Since there are many leaders governing operations, workers may often be left wondering who they are required to report to (Rad and Levin, 2002, p. 135). There is a program manager and other managers who are responsible for additional programs under the same project. Moreover, superiority may end up being an issue as workers try to discern which manager is more superior. The many units available in the structure may also be competing for resources to complete different tasks thus leading the organization to overlook. In the end, the structure may end up making the project more expensive than it would have been if it is not well managed.

Leadership versus Management

The management of the organization is expected to set out the activities as they have been specified in the plan. Contrary to this, the leadership is supposed to effect change. The latter duty is more effective compared to the former as will be elaborated. One of the core reasons why leadership appears as the most influential attribute depends on the size of the project. Large developments such as the current one necessitate greater supervision compared to smaller ones (Gehring, 2007, p.44). Leadership ensures that relevant objectives of a project are established. Failed leadership culminates in disastrous management which in turn leads to undesirable results. It is, therefore, apparent that leadership is more effective for the successful completion of this project as will be demonstrated.

Attributes

Leadership is more influential in any project compared to management. Part of the reason why this is true lies in the attributes that an effective leader is expected to possess. For example, a leader inspires a shared vision. Jamie Dimon stated that he will step down in five years, and it is evident that he has used his position within the company to foster the growth of Wall Street in regards to factors such as economic policy and lending (Surane and Carmiel, 2018). Dimon`s vision will act as a driving force for the workers who will be engaged in this project. His sheer determination has been revered by employees who are willing to take a personal initiative to develop the project as if it were their own (Turner and Muller, 2005, p.103). Also, by reiterating the organization`s commitment to fostering development in New York city, it appears that as a leader he is ready to serve the community and deliver promises made.

Enthusiasm and passion is also another significant attribute of leadership. The project leader is expected to demonstrate the aforementioned qualities since they exude confidence from the people working on the project. An enthusiastic leader shows commitment towards attaining a particular goal (Muller and Turner, 2007, p.26). A lot of positivism is required throughout the development even when things are not working out as expected. Employees tend to work more effectively when under the command of such a leader. Failure to portray the above-mentioned values could lead the project into failure

Behavior

An effective leader should also exhibit competence while undertaking the project. For instance, the leader is supposed to show that he is aware of every activity that is going on and also demonstrate how everything is going to be undertaken when addressing the workers (Mir and Pinnington, 2014,...

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Paper Example on New Midtown NYC Headquarters Project. (2022, Jun 05). Retrieved from https://proessays.net/essays/paper-example-on-new-midtown-nyc-headquarters-project

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