Product Management Essay

5560 words - 23 pages

Syllabus Definition and scope of project, Technical design, Financing, Contracting, Implementation and performance monitoring. Implementation plan for top management, Planning Budget, Procurement Procedures, Construction, Measurement & Verification.



Project management is concerned with the overall planning and co-ordination of a project from conception to completion aimed at meeting the stated requirements and ensuring completion on time, within cost and to required quality standards. Project management is normally reserved for focused, non-repetitive, time-limited activities with some degree of risk and that are beyond the usual scope of ...view middle of the document...

Each element must be managed effectively. All these elements are interrelated and must be managed together if the project, and the project manager, is to be a success. Managing Resources A successful Project Manager must effectively manage the resources assigned to the project. This includes the labor hours of the project team. It also includes managing labor subcontracts and vendors. Managing the people resources means having the right people, with the right skills and the proper tools, in the right quantity at the right time. However, managing project resources frequently involves more than people management. The project manager must also manage the equipment (cranes, trucks and other heavy equipment) used for the project and the material (pipe, insulation, computers, manuals) assigned to the project. Managing Time and Schedule Time management is a critical skill for any successful project manager. The most common cause of bloated project budgets is lack of schedule management. Fortunately there is a lot of software on the market today to help you manage your project schedule or timeline. Any project can be broken down into a number of tasks that have to be performed. To prepare the project schedule, the project manager has to figure out what the tasks are, how long they will take, what resources they require, and in what order they should be done. Managing Costs Often a Project Manager is evaluated on his or her ability to complete a project within budget. The costs include estimated cost, actual cost and variability. Contingency cost takes into account influence of weather, suppliers and design allowances. How the 80/20 Rule can help a project manager? The 80/20 Rule means that in anything a few (20 percent) are vital and many (80 percent) are trivial. Successful Project Managers know that 20 percent of the work (the first 10 percent and the last 10 percent) consumes 80 percent of your time and resources. Project Management Life Cycle The process flow of Project management processes is shown in Figure 7.1. The various elements of project management life cycle are a) Need identification b) Initiation c) Planning d) Executing e) Controlling

Bureau of Energy Efficiency


7. Project Management

f) Closing out

Figure 7.1 Process Flow of a Project Management Process

a) Need Identification The first step in the project development cycle is to identify components of the project. Projects may be identified both internally and externally: Internal identification takes place when the energy manager identifies a package of energy saving opportunities during the day-to-day energy management activities, or from facility audits. External identification of energy savings can occur through systematic energy audits undertaken by a reputable energy auditor or energy service company. In screening projects, the following criteria should be used to rank-order project opportunities. Cost-effectiveness of energy savings of complete package of...

Other Papers Like Product Management

New Product Management Essay

984 words - 4 pages Past adopters of New Products Management will notice major changes in this edi-tion. While there are some changes in virtually every chapter, some of the most substantial changes are as follows: 1. The first three chapters have undergone a major reorganization. Three key concepts from early chapters (new products process, product innovation charter, and product portfolio) are now introduced in Part I as the three strategic elements of product

Product Life Cycle Management Essay

1146 words - 5 pages Product Life Cycle Management Analysis Cindy Lueskow University of Phoenix Product Life Cycle Management Analysis: Apple IPod The Product Life Cycle Management Analysis is based upon the Introductory, Growth, Maturity and Decline stages of the Apple IPod, a portable player launched in 2001. Objectives here were to give the program shape, provide intent and target strategies to reach the consumers. Apples strategy was to release

Product Data Management System

1131 words - 5 pages Product Data Management System ( PDM ) consisting of engineering data management and engineering document management system is vital for the performance of an EPCI ( Engineering, Procurement, Construction and Installation ) contractor in Oil & Gas upstream projects segment. PDM is used by all functions in managing the projects execution as well as during life cycle of the asset for operation and maintenance. Currently engineering data and

Product Development(Marketing Management)

3750 words - 15 pages A Research Proposal Submitted To The Faculty of College of Arts and Sciences, San Beda College, Manila In Partial Fulfillment for the Requirements in Marketing Management (MKC12A), BSBA Major in Marketing And Corporate Communications By: Gonzales, Jose Carlos Bernardo, Mike Matsukawa, Fumiya Rosete, Andrei Matienzo, Marc Angelo Malaca, Juan III, D. March 2013 Chapter I: Marketing Philosophy Product Mix Matrix Ideas

Ikea - Product and Brand Management

1275 words - 6 pages Product and Brand Management Ikea Assignment 1 Is Ikea a successful global brand? Why has it been successful? Ikea is a very successful global brand, not because it has 226 stores in Europe, Asia, Australia and the United States with 410 million shoppers a year, not because other global brand like Wal-mart stumbled in Brazil, Germany and Japan but for Ikea’s unique cultural branding that merges the value and fashionable design to ensure the

Nike, Management New Product Launch

3427 words - 14 pages meet the needs and wants of their customers. Nikes mission with this report is to identify what their customers wants, what is missing in the market and how Nike can motivate and encourage everyone to become ‘the best athlete they can be’. This investigation will be carried out over the duration of one year before Nike releases a new product into the market. 2.0 Environmental Scan 2.1. Nikes Organisation In order to fully understand what


4609 words - 19 pages SHOULD PACKAGING OF PRODUCT PISTACI BE CHANGED IN ORDER TO INCREASE SALES?ACKNOWLEDGEMENTSI would like to thank the company for helping me in my research and offering all the information needed. Even though they expressed some confidentiality concerns, people in this company were very interested in providing me with assistance and the answers to all my questions.CONTENT PAGEResearch Proposal………………&hellip

Product Lifecicle

1423 words - 6 pages specializing in marketing the product are the ones that survive. d) Production and marketing costs become the management important determinant of profit. e) Few changes are made to product f) Management may raise price to cover costs, re-price to maintain market share or lower price to reduce inventory g) Distribution is narrowed to the most profitable existing markets h) Reduced promotion i) Advertising and sales incentives could be used to

Product Display

3364 words - 14 pages PROMOTIONAL EFFICIENCY AND THE INTERACTION BETWEEN BUYING BEHAVIOR TYPE AND PRODUCT PRESENTATION FORMAT – EVIDENCE FROM AN EXPLORATORY STUDY Franz-Rudolf Esch, Joern Redler and Tobias Langner Justus-Liebig-University Track: Personal Selling and Sales Management Keywords: sales promotion, planned purchases, unplanned purchases, impulse purchases, POP-displays Abstract We report the findings of an exploratory study on the interaction between

Product Launch

5424 words - 22 pages Business in Canada! Retrieved on November 15, 2011 from, Inc. (1999-2011). How to Budget for a new Product or Service. Retrieved on November 17, 2011 from Grey, R. (1990). Corporate culture & Canada's international competitiveness. Canadian Business Review, 17(4), 21

Product Offering

1193 words - 5 pages Kudler Fine Foods Product The mission of Kudler Fine Foods is to serve the customers with the different type of premium food, wine and the associated stuff in a consumer friendly environment (University of Phoenix, 2008). Strategic policy of KFF focuses on expansion of business and loyal customer base. This will be achieved through high-margin services. For these plans, UAE seems like a good option. This concise marketing plan will explain six

Related Essays

Product Management Essay

4674 words - 19 pages PRODUCT MANAGEMENT INTRODUCTION TO PRODUCT MANAGEMENT Role and Scope of Product Manager Role of Product Manger Responsible for marketing of individual products or product lines • Creation and conceptualization of strategies for improving and marketing the assigned product line or brands. • Projection and determination of financial and operating plans for such products. • Monitoring execution and results of plans, with possible

Product Management Essay

649 words - 3 pages to gain enough knowledge to be qualified enough to be in one of the senior management. During my initial years, I managed to apply my background in Computer Science and gain as much product & technical knowledge along with the Market information on the product. And towards the year 2010, I was given an opportunity to enhance my skills to Product Manager with "Business Development" as my key Focus. In my new role, I had a team of 20

Product Management Essay

4879 words - 20 pages such a religion that he can't possibly he an eloquent voice for new products-the deck is stacked even further against launch. This is sad because every new product needs a champion in upper management. Someone who will ramrod it past the Abominable NoMen in every company who are just waiting to pounce on anything that's new-he it computer-based marketing research (which is far more reliahle than their "guts" ever were), or a marketing idea that

Mistakes In Product Management Essay

3350 words - 14 pages The Top 12 Product Management Mistakes And How To Avoid Them Martin Cagan Silicon Valley Product Group THE TOP 12 PRODUCT MANAGEMENT MISTAKES – AND HOW TO AVOID THEM Martin Cagan, Silicon Valley Product Group Bad products are everywhere. Products that simply aren’t useful, don’t work right, are too difficult to learn, or that take forever to sell. Little wonder, as there are so many things that have to go right in order to create a