Business Project Management Performance of Business

Question: Describe about the Business Project Management for Performance of Business. Answer: Introduction Below is a breakdown of its components; strategic business objective, project objective, key performance indicator, and major derivable/milestones. Strategic Business Objective Strategic objectives of a business or an organization include long haul strategy choices, for instance, starting with another plant, introducing another product in the market, expansion and so forth. Strategic planning is for the most part impacted by: the decision of broadening, i.e., extension or combination of business (Chang, 2016). Market flow, demand, and supply, technological changes, stiff competition from bigger firms in the industry, different threats in markets, difficulties and opportunities among others. Strategic objectives planning sets focuses for the workings and references for taking such long haul strategy decisions and changes the business targets into functional and operational units. With the assistance of innovations in information technology, an organization may even decide on an altogether new plan of action, which will permit it to set up, combine and keep up a strong will of sales in the current market and in addition give a competitive edge in the market and the industry at large (Hill, Charles, Gareth, Jones, Melisa, 2014). This would be achieved by indulging in market strategies including planning on extensive, efficient and effective distribution channel, advertisements through proper channels, evaluating the market participants among others. in relation to good corporate relation with consumers, may it through environmental conservation and awareness, a plant should be conversant with it in order to create a good relation with the surrounding society. At the point when a business truly knows the community they are involved with and serves them well in terms of their welfare, 'the way they need to be served,' the customers, for the most part, react by r eturning and purchasing more from the firm. It raises incomes and profits. Project Objective This project management under its objectives is to endorse a plant that is environmentally friendly, in that it reduces the risks of spillage. A plant that reduce waste streams into the environment therefore saving non renewables resources and allow production of carbon neutral energy from the byproducts. This particular projects aims at recognizing the fundamental difficulties and hindrances for decreasing plastic waste in mixed waste and lingering waste streams, thus fortifying counteractive action and reusing of plastic waste (Atkinson, 2014). Advancing and enhancing reusing of plastic polymers as a substitute for virgin plastic. Redirecting waste plastic from the remaining waste going to cremation- making a carbon unbiased vitality source- and landfill. All in all, the project conveys a commitment to the general maintainability of the plant site. Improvement of general waste management in the range; expanded reusing levels and a decrease of natural waste in landfills; acquiring a quality manure to be utilized as a fundamental revision that adds to enhance soil fertility, for instance, to stop the desertification procedure and to withhold carbon in the ground. Key Performance Indicator (KPIs) KIPs refers to a measurable value that gives the effectiveness of company activities in attainment of its set goals and objectives. This measure is used by organizations in evaluating their development and success or loss at reaching their targets (Parmenter, 2015). This measure will be applied on conservation of environment by the plant, where plants performance and attainment of goals are greatly affected by how this plant will manage its waste products from the production mainstream whatsoever. Performance indicator too will be used to evaluate the organizations performance in respect to relationship and cooperation with various stakeholders of the plant such as unions, local community, suppliers among others. Attainment of goals if affected by the latter key participants. Technological advances are key players in any organizations objectives. It is responsible for high rate of organizations growth or a stunted one depending on its availability and personnel to apply it. Depending on how an organization is performing in terms of efficient production volume, KIP will keep tract and evaluate whether or not to increase production volume taking into consideration of the initially set objectives. Major Deliverables/Milestones In project management, a deliverable is a product or a service that is given to a customer. A deliverable ordinarily has a due date, quantifiable and specific. A deliverable can be given to either an outside or inner client and fulfills a milestone or due date that is made and created in the project laid plan (Rowe, 2015). A deliverable can be a software product, a configuration record, a preparation program or other resource that is required by the project plan. Basically this are regulations set to plants such that after they are met, the provide a safe site for production in terms of variables such as security, reduction of environment contamination, demolition just in case its necessary, building and construction standards, energy source, plant design and layout under required specifications among others. All these measures are regulated and controlled by the Environmental Protection Agency (EPA). 2. In every project, there exist drawbacks and hindrances that are unavoidable. Generally there are common challenges that project management would faces with respect to its particulars. These include its scope, time, cost, risks, quality and procurement for this particular plant. Therefore below it follows a basic explanation of each challenge as it happens and how it affects achieving set objectives. With respect to scope, a project may have forecasted a perfect market where it could have expected high returns from its maximum sale of its products. This would not be the case if the market would change within a short duration, technology advances that renders this plants machinery outdated and also the site might get contaminated rendering it to be crossed. Time is the most crucial thing in any project. Time would be a challenge in terms of training of workforce, time taken to acquire a business permit, construction and installation of machinery delays and also EPA may take time before checking if standards were met when situating this plant. As all this is happening basically the market would still be running and other organizations would take over the market share that this project is expected to acquire. On the other hand cost is another challenge. Additional costs that arises from restricting and designing plants structures, costs of attaining business permits, soil control measures, hiring and training of new staff among others. Every business decision attracts a risk. Delays in construction and soil treatment that could lead to closure of the plant are among the list of risks that are to be faced by this project. Loss of market share is another. Breakdown of machinery or some them becoming obsolete causing them to be replaces, this would lead to increase in overhead costs. Another challenge of this project is achieving quality required by the EPA in terms of construction requirement and meeting the standards required by the corporate society. Last but not the least, procurement of plant necessities poses a challenge to this project in terms of purchase of new machinery, allocation of available funds efficiently to supplement the whole project, contracting with new suppliers, purchase and storage of raw materials and finished goods respectively (Haimes, 2015). Recommendations Any project work requires adequate diligence and dedication to ensure that the overall output is worthwhile and can be used for further references. Conclusion. The overall project proves that every input in the technological aspect ensures that there is adequate enhancement in any scientific work a researcher is undertaking. References Chang, J. F. (2016).Business process management systems: strategy and implementation. CRC Press. Haimes, Y. Y. (2015).Risk modeling, assessment, and management. John Wiley Sons. Hill, C. W., Jones, G. R., Schilling, M. A. (2014).Strategic management: theory: an integrated approach. Cengage Learning. Kerzner, H. R. (2013).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Parmenter, D. (2015).Key performance indicators: developing, implementing, and using winning KPIs. John Wiley Sons. Rowe, S. F. (2015).Project management for small projects. Management Concepts Inc.