Project Management Tools and Techniques Essay Example | Topics and Well Written Essays - 2000 words

Project Management Tools and Techniques - Essay Example These terms include project-oriented business, project-based organizations, management by projects, organizational structure of project form and temporary project organization. The Sydney Opera House is Australias best-known iconic structure that symbolizes the states beauty and culture. It is also famous due to its management failures during its construction, which had the effect of redesigning seventeen times before successfully ending. According to Architecture Week (2006, p.143), the architecture competition was won by JÃ ¸rn Utzon after New South Wales set out the bidding process in the year 1957, it construction was commenced in the year 1959. The duration that the project was to take was four years with an underestimated budget of $7 million. The project, however, took a total of 14 years to full completion, whooping a total cash of $102 million (Bull 2007, pp. 145-171). Taking such an escalated amount as compared to the initial value that was set with the addition of $95 million, are the reasons why the project is considered unsuccessfully planned and managed. Majority considers the project as the leading projects that had disastrous management in the history, not only from the management, but also financially. In its analysis why it is a consideration as one of the most unsuccessful projects trace from the initial stages. On the conception of this project, the priority is to set out the mission, objectives, and its goals by the time of its completion. "For any project, objectives, goals and intentions have to be defined under the guidance of the client, so that the project can be in line with what is needed to be completed" (Ramroth &William 2006 p. 52). The main factors in a project to be considered a success or a failure are costs, time, and quality. Concerning Sydney and its clients, the last option was of more weight to

The Global Environment of Business Essay Example | Topics and Well Written Essays - 1500 words

The Global Environment of Business - Essay Example With this concern, the brand adopted an important decision concerning setting higher prices for its broad array of products particularly in the European region in comparison with the US owing to the reason that the choices along with the preferences of the customers are quite dissimilar in the two business markets by a greater extent. In this similar context, one of the crucial factors that lead towards higher prices of lifestyle brands in Europe as compared to the US can be identified as the expensive operational costs. This can be justified with reference to the fact that Europe based customers are more trendy in nature than the US wherein Hilfiger had to raise its operational costs in order to comply with the requirements of the trendy European customers. Apart from the factor concerning higher operational costs, the other critical aspect which led to higher prices of Hilfiger products in Europe can be identified as the concentration of the retail market. In addition, the nature a s well as the preferences of the European customers can also be regarded as the other critical factors that led towards higher prices in the European region than compared to the US. ... rucial factors that led to higher prices in Europe as compared to the US, it can be affirmed that Hilfiger might experience certain major problems especially in Europe. In this similar background, one of the vital problems that Hilfiger might face is attracting along with retaining the customers from its targeted market segment, buying its different collection of products or brands. Furthermore, the other major problem that Hilfiger might encounter from having higher prices in the European region is decreased profitability along with productivity resulting in hindered customer satisfaction and lower retention rates over the long run period. This in turn might also hamper the growth of the company in terms of its market shares within the European region by a substantial extent and restrict its future growth prospects. To be mentioned in this context, the other problem that might be encountered by Hilfiger owing to its higher prices in Europe as compared to the US, is the inability to compete with its major rivalries and thereby accomplishing superior competitive position over its chief business market competitors in terms of weakening strategy in the area of brand positioning (Gitman & McDaniel, 2008). Question 2 It has been apparently observed that Hilfiger had to experience different national preferences while performing its operational functions in several nations throughout the globe applying a widely diversified strategic process. In order to effectively deal with various national preferences and facilitate the brand towards betterment, especially in the US, the CEO of the brand intended to adopt and follow the strategy of harmonising its European and the US collections focusing on increasing market share and customer satisfaction (Uclan, 2013). In this regard, the