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BALANCED SCORECARD. LOGISTICS OF PROJECT MANAGEMENT IN NIGERIA: IMPLICATIONS FOR PRACTICE. Financial Performance Measures. PROJECT MANAGEMENT. SERVICES QUALITY.
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BALANCED SCORECARD LOGISTICS OF PROJECT MANAGEMENT IN NIGERIA: IMPLICATIONS FOR PRACTICE. Financial Performance Measures PROJECT MANAGEMENT SERVICES QUALITY ‘Project management is a methodological approach to planning and guiding project processes from start to finish. The five stages of project management are noted as: initiation, planning, executing, controlling and closing’ (Meredith, 2011 p.5). ‘Form of attitude, related but not equivalent to satisfaction, that results from the comparison of expectations with performance’ (Parasuraman et al, 1988) STRATEGY Internal process measures Customer performance measures The balanced scorecard provides a good way of viewing project management in Nigeria. There is a need for project managers to move away from solely viewing performance in financial terms. COMPONENTS OF LARGE SCALE PROJECT MANAGEMENT:. Learning and growth performance measures Research Questions 1) What project management problems are present in Nigeria? 2) What alignment exists between goals and projects in Nigeria? 3) How does planning and control affect the action of implementation? Speed: designed in line with the expectation of stakeholders. Difficult to measure, time can be influenced by risk.Time = money to the traditional project manager. TIME Adapted from Slack et al, 2010) COST Within the budget of the client. Cost inclusive of resources and labour. Budget requirements likely to change in line with the project. Can be difficult to outline from the beginning. OUTCOME: Agile project management: a solution to project management difficulties in Nigeria?. RISK MANAGEMENT Risk is an everyday part of a project. Within a dynamic environment such as Nigeria there is a need for risk to be dealt with. Risk is difficult to measure. Traditional project management fails to include provisions for risk. • Draws upon the business environment (Chin, 2004). • Integrated approach inclusive of stakeholder needs. • Problems are minimised as risk is seen as being a fundmanetal part of the project (Hass, 2007). • Planning is a continuous process involving both workers and stakeholders in sub group. • A more dynamic and flexible approach to project management. STAKEHOLDERS GOOD PROJECT MANAGEMENT = On time, in budget, balance of stakeholder needs. Balancing of stakeholder needs. Difficult to measure the influence of stakeholders. Identification of power and opinion of stakeholders. Research Objectives 1) To research and understand trends in Engineering project management practices. 2) To identify and understand the philosophy underpinning and governing project management. 3) To analyse project outcomes or deliverables, performance or scope, risk and changes in expectations of social services. RECOVERY Flexible and adaptive response to risk…likely to result in a succesful project. Ease to bounce back after risks/delay to projects. . Key components of Agile project management (Sanchez, 2007). FLEXIBLITY ADAPTATION RISK MANAGEMENT GROUP WORKING CHANGE MANAGEMENT. AGILE Variable Difficult to measure Subjective Customer satisfaction TRADITIONAL Tangible Objective Measurable Error Free REFERENCES:Chin, G (2004) ‘Agile project management’. AEW services: Vancouver. Hass, KB (2007) ‘The blending of traditional and agile project management’. PM World Today, IX (V) pp. 1-10 Parasusuraman, A, Berry, L, Zeithmal, A (1988) ‘SERVQUAL: a multiple item scale for measuring customer perceptions of service quality’. Journal of marketing, 49, pp. 41-50. . Sanchez, R (2007) ‘Strategic flexibility in product competition’. Strategic management journal, 16 (S1) pp.135-159. Slack, N, Chambers, S, Johnston, P (2010) ‘Operations management’. Financial Times: London.