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Project Management - Essay Example

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Masters
Essay
Management
Pages 13 (3263 words)

Summary

This paper describes the historical processes that have shaped manufacturing over the last century leading to project management in the construction industry. It refers to management theories such as those put forward by Henry Fayrol, Latham and Egan. …

Extract of sample
Project Management

Henry Fayol significantly contributed to the development of strategic management techniques in the construction industry through establishing five functions of management. Planning was the first function of management which up to date is fundamental to the success of an organization. Cole observes that all the aspects of manufacturing depend on the initial plan to a large extent. It involves conducting an analysis of the present situation of an organization, as well as its future. After this analysis, the managers set the strategies for accomplishment of the organizational goals that are based on where the management would like the organization to be in future. Planning continues through out the life of the organization especially due to the fact that changes may be necessary so that an organization can cope with the dynamics of the operating environment. In other words, planning helps the managers to strategize to come up with solutions to emerging issues. It is important for the managers to deal with challenges facing the business as well as the utilization of opportunities for the success of the organization. Bradford observes that strategic planning is the practice whereby an organization develops its course of action to accomplish upcoming objectives. The managers are in charge of evaluating the operating environment and the internal factors that affect business through strategic planning to ensure that the organizational goals are accomplished. This involves conducting a SWOT (Strengths Weaknesses Opportunities and Threats) analysis to ensure that the business remains on track. ...
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