Managing the Multi-Project Program Environment (Essay Sample)

Managing the multi-project program environmentStudent’s name
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Introduction
Earned Value Management is a tool applied in the management of different projects to aid in predicting the future results, scheduling tasks and also analyzing the usage of resources. It is therefore a very important technique that has many benefits to a given organization that implements it. The government projects are known to exercise earned value in their projects and that could be the reason behind their success. The main aims of applying the technique are to encourage workers, knowing the amount of funds used in the project as well as predicting the time when the project will be over.
This information is usually important in the management of the project as it enables the managers make decisions according to the progression of the projects. They also can give predictions on when the project might end. This is important information especially to those who are into full investments of their resources. One of the importance of using this method is that it gives clients confidence on what projects they have engaged in. they become sure that the resources they have cannot be lost due to failure of the project. The contractors on the other hand use it as a tool of gaining more customers and securing the type of enterprise they have engaged in as it is easier to know if the project is developing or failing.
The application of the earned value management involves the use of the amount of labor needed in the project, the resources available as well as the time taken by the workers. These values are involved in different calculations using different formulae to aid in getting the earned value. The values got are used to track the performance of the project until it ends. Also predictions can be made from these values on the future prospects of the project.
Although the use of earned value I of benefits to the organizations, it however has some disadvantages. First it is time consuming in the collection and filling the values in order to get the required quantities. Also it works on percentages and not the actual values got while collecting data. All these are time consuming which could be applied elsewhere. Also the programs involved are expensive therefore some companies fail in acquiring them due to scarcity of resources. The predictions made in the course of the implementation of the earned value could be wrong. Lastly, the quality of work done during the project is not considered hence the method does not give every detail concerning the project.
This paper objects at getting to know the value that is added to the implementation of a programme management IT tool to help in the management of documents. Also the paper will discuss fully on how information management and communication in a given organization can be affected by the introduction of Information Technology system. In addition, the paper will discuss the pros and cons of making use of an earned value methodology in an organization. This will be done by giving some examples of different industries how earned value methodology can be applied. Lastly, the way an industry can apply the earned value will be discussed into details.
Identify the value of adopting an appropriate program management IT tool or technique to aid with documentation management and reporting.
Advantages
Giving accurate results
The IT tool or technique gives accurate evaluation of the expenses, work and time of the development of the projects. This enables companies to get the actual values instead of guessing or approximating. The company uses its own data instead of an external on from other companies in determining their progression. At the early stages of a project, the values of the expenditures and time fed in the system which helps the managers in predicting the results of the projects by looking at the tendency of the Cost Performance Index. Generally, it is done by looking at the Cost Performance Index (CPI) value which is the quotient of the planned costs over the actual costs spent over duration of time. In many instances the CPI declines and therefore there is need to follow it up and control it. In case they find it out of track they can take appropriate measures and correct it.
Providing warnings at early stages of a project
The tools also help managers in foreseeing the results of the project. The company is able to know the amount that will be spent on the project, the time and also if the amount was over or under spent. By calculating the CPI, the company is able to have a rough idea of the final expenditure during the project. However, as the CPI value is not constant, but varies from time to time. Therefore, it should be checked more often so that the company is up to date on the current situation of the project. If they find it giving wrong values, they can take measures early to avoid the project from failing.
Tracking the progression of a project
The management IT tool also tracks the development of a project by showing how it has been performing since it started. This is because the system gives past information on how the project has been going on. As the system provides dependable information, the manager can weigh the current performances against those of the past. Therefore, they can exercise the most suitable precaution measures should the past and current performances differ with a large deviation.
Disadvantages
Quality of work is not put into account
While using the program only work, cost and the duration are taken into consideration. However, the quality of the work done is not put into account and is not filled in the system. Therefore, the project could be doing well according to the information given by the system but the quality of services provided is poor. One can therefore be misguided by relying on the system only where as it gives only some of the information concerning the project at hand.
Wrong predictions could be made
The actual values filled in the system are usually the ones that have already happened. They are then used to give the predictions on what might be expected as the outcomes. Some predictions made could be wrong due to a range of hindrances that are encountered during the development of a project. Therefore, the managers should be cautious while coming up with predictions based on the current performance. They ought to overcome all the hindrances that retard the development of a project. This information can be got by relying on other companies previous experiences.
Time consumption collecting the data
Also the various values needed have to be collected, a task which is time consuming. The time used in getting all information about the work done, expenditures and the time of development could otherwise be used in doing other productive tasks during the project. In addition, the software is usually expensive to acquire, therefore most companies do not have an IT system for documentation in each department which would make it easier in making a follow up of the projects.
Discuss how the introduction of an IT system affects information management and communication.
Saves time
Through the use of modern means of communication which are IT oriented, the information from the source reaches the recipient very fast. These new modes of communication include the use of emails and telephone. Time is therefore conserved which could have otherwise used by messengers to deliver the same information. Also, once the messages have been delivered, the recipients can reply it very fast. This has enabled growth of different industries especially the production industry as the company finds raw materials for their goods very fast. In addition to raw materials, the company also gets customers for their products very fast.
Reduction of costs
The utilization of IT systems helps in reducing communication expenditures. In the case where there were messengers employees to be delivering information from one place to another, more money would have been spent than when new technology is used. Also is it would be expensive to acquire certain information such as that found in the internet. People would be forced to buy volumes of books which would have otherwise take time to acquire incase of importation. Even if one would require a piece of information from the book, he would be forced to purchase the whole book. Also one could get a book without the required type of information a situation that would cause inconveniences as well as loss of funds.
Efficiency
The type of information that one needs is got fast and also is reliable. The use of websites in communication as well as in acquisition of information enables one to get the information s/he needs at that instance. If for instance in the production industries there is need for some inputs, which are urgent, the use of technology would enable them get the right input at the right place. Also alternative types of inputs can be got in case the one being used lacks in the market or there a variety and one needs to choose the appropriate details about them is easy to find in the internet. This would enhance continuous production of goods without a stop. Therefore one can rely full on IT as a source of information.
Coordination
The integration of IT in different industries especially in the sales department enhances coordination between the company and its clients. The sellers do not have to travel long distances in search for customers but by use of cell phones and emails the customers can be reached easily. Also the use of social media like Facebook and Twitter which are mostly used is of great help in that aspect. Also within organizations and companies, the workers can communicate among themselves as well as with their bosses without moving around to ea...