Project management Essay Example | Topics and Well Written Essays - 1000 words - 6

Project management - Essay Example According to Quinn a company should first of all define and map the various types of development projects. The management in Musimax will have to invest in the commercial and research development projects. So the management will have to put in place cost reduced versions of the existing products. The management will also have to set aside funds for research so as to create the know-how and know-why of new technologies and materials that will eventually lead into development of these products (Quinn, 1985). Q2) .If the management actually want to cut costs by 40% in the next two months it should focus on the following solutions which will be beneficial. According to Macgregor and Carlisle, the management should stop making all the operating decisions for themselves. Instead the management should hold weekly meetings with its subordinates and be informed of what they are doing and how they are dealing with arising issues. Using the above it will be easier to appraise their managerial and technical abilities. Actually this will make them know how to solve problems on their own and it will help save time and thus the company will generate more income probably in less than two months. The other project that the management should focus on in order to cut down costs is always train their employees and making the workplace a learning environment. According to Macgregor when employees are well equipped with knowledge then they will be able to solve problems quickly and thus avoid wastage of ti me. They will also be willing to assist other employees when there arises a problem since this will eventually be beneficial to them. It will help a lot especially when there are vacancies they will be the appropriate candidates to fill the gap instead of wasting money looking for new staff. If the management promotes it own existing staff to fill certain vacancies then it will save a lot on advertisement costs and all the costs required in employment of