When a project is initiated, the scope and nature of a project are determined. Project managers should be very careful at this stage. In the Wireless Telecom Company case, Olaf did not understand the importance of the Megahertz Project. That is why after consuming $600,000 the project was still far from completion. It was lagging behind by 4 months while the contractor was asking for another 6 months extension adding up to 10 months. To make the matters worse, a further $ 800,000 is needed to be injected into the project. All this is as a result of a poor initiation approach.
After going through initiation, a project should be planned to the last detail. This takes into consideration the time span, costs related to the project and the required resources. Wireless Telecom Company team did not plan adequately. As a result, the cost spiraled out of control and different opinions started pouring in on whether to abandon or go on with the project.
Once a project has been thoroughly planned, it moves to the execution stage. Here all processes and activities that are necessary to complete the entire project are put into play. All resources, people and activities are supposed to be co-ordinated together according to the plan laid out. Of critical importance is the fact the execution milestones need to be checked from time to time.
Under the monitoring and controlling phase, progress performance is keenly observed taking care to identify problems. Actions to correct these problems are then taken. This includes: knowing the current status, checking what has been done against what was planned, putting project back on track and quickly incorporating changes. The Maximum Megahertz Project had a series of roadblocks such as power reduction, technology and speed. Olaf’s team lacked change management. The project needed modifications and re-assessment.
Finally, the project is completed if all the steps are carefully followed. In this stage, the project is formally endorsed as complete. All group activities are finalized. Any contracts outstanding are settled in a way that nothing is left pending. In future, Wireless Telecom Company will have to institute strict control systems. The company should initiate strong project controls that keep track of every activity and give feedback on setbacks. Communication channels should be put in place to facilitate a smooth channeling of information to and from the project. Project control keeps a project on track, ensures timeliness and that activities remain within the budget. Control starts right at the planning phase. Failure to do so leads to the problems experienced by Wireless Telecom Company.
Related Business essays