Project management on Booz consultancy

Booz Consultancy. A project will be started by Booz Consultancy to help its clients make prudent financial investment selections. Additionally, these businesses will be involved in auditing and any other pertinent business services that can be provided in the corporate sector. The financial consulting project will be a supplement to the other consulting work that Booz is doing. Especially notable is the fact that Booz offers its clients consulting services in marketing and procurement. The idea was taken into consideration after receiving several requests from customers to include financial services so they could receive comprehensive services from a single business rather than having to go to various businesses for the financial services. The management believes that the project will be a success since the company has some established loyal consumers who are likely to purchase the services with the others which they receive from Booz.

Organization Structure of the Project

Figure 1 The Organization Structure of Booz Organization

First of all, a project operates due to association with people, technology, and processes within an organization. The plans influence the procedures, policies, and aspects of the society. In particular, the organization structure enables the successful implementation of the project. The arrangement facilitates the successful implementation of the plan because it decides the communication, resources, among other necessary aspects of the organization (Tache, 2012). Archibald, Di Filippo, and Di Filippo (2012) noted that there are various types of organizational structures that can be formulated during the inception of a project. Nevertheless, the successful one is the functional organizational structure because it gives a realistic picture of the situation. Just like the mission statement of the firm shows the features of the organization purpose, the organizational structure acts as the foundation for the accomplishment of the mission. In short, the organization structure illustrates the general approach to the business, in particular, the roles and responsibilities of each team member.

Further, the organizational structure is laid out in an organization such as in Figure 1 that shows the communication and flow of authority amongst the departmental units. In the case of Booz Financial Consultancy, the planners will use the function on where the management level reports to the chief executive officer (CEO). The company will have CEO who will oversee all the activities of the organization and especially the immediate management which is the project manager and the financial managers. Other roles are advising the board, advocating for the appropriate stakeholder's employees and supporting the right programs. These are also the decision makers, visionaries, and overall managers.

The financial manager will be responsible for the economic health of the organization and project such as producing financial reports, strategies, plans, and organizational goals among other direct investments activities. Further, the commercial manager will look into insurance deals for the company. Most importantly, the financial manager will supervise the accountants and ensure that they prepare the financial statements, reports, and forecasts appropriately. This financial manager will also monitor the legal requirements necessary to the financial details as well as supervise the staff who conduct financial budgeting and reporting. The economic will review the reports and analyze the trends in the markets to get ahead of any opportunities for the organization expansion. In fact, it is the financial manager of the Booz Consultancy that came up with the plan for having this project.

I will be the project manager, and my role and responsibilities include leading and controlling the project team as well as planning for the daily operations. Considering the type of consultancy, the project manager will act as the interface between the business area and the project. In this project, the project manager will design the appropriate project management standards that are necessary for a financial consultancy. Further, this manager will determine the required deliverables, plan and monitor, and delegate assurance roles. Most importantly, the project manager will evaluate the project risks, programs management, and use of resources, give end-of-process assessments, as well as give awareness of any potential interdependencies. Finally, there will be a follow-up plan for the other staff.

Operation staff will conduct the necessary work in the implementation of the project. The employees are the people who will investigate the financial investment opportunities and do the auditing for clients who request the services from the clients.

The other staff will be any other individuals such as insurer who will be involved in the consultation. Others are the cooking and the cleaning staff who make the process convenient for the others.

Anticipation of Culture, Structure, and Role Assignments That Will Successfully Help

The organization culture is another important aspect of the organization because it helps one to know how to work with the other employees. Being the lead project manager, I will anticipate the culture, structure, and the roles of the employees. Also, since I have worked in this organization for an extended period, I know the organizational aspects. For instance, one of the critical cultures of this team is rewarding of the employees which, in turn, motivates them to work harder. Further, the assigning of roles and rewarding are based on performance which ensures that the employees are excited to work extra hard to gain the positions. Tache (2012) observed that the production and monitoring of the organization performance, as well as the employees, is what enables the firm to anticipate the future. Therefore, as the lead project manager, I will ensure that I carry out thorough research on the matter at hand.

Project Lifecycle Model

Archibald et al. (2012) argued that a project lifecycle divides a project into phases to enable the management control on ongoing operations. The project lifecycle is appropriate because it shows the necessary technical work, the deliverables to be generated, the project participants, and how to evaluate the actions of the project.In short, the project lifecycle starts from its inception to its closure phase. In the case of the Booz Organization, the project lifecycle begins from its conception to the closure. Nevertheless, there are other steps in between the first and closing level that depends on the different industries. The primary project management process is initiating, planning, monitoring, controlling, executing, and closing the process groups.

According to Tache (2012), the project should undertake the Benchmarking and Balanced Scorecard. Finance consultancy is a highly complex project that can be easily be duplicated by other organization. Further, this project uses the previous data on the different types of consultancy services given by the agency. Therefore, the company needs to concentrate on the external stakeholder’s commitment to their project. In fact, the success of this project depends on the ability of the firm to maintain consumer loyalty as well as attract other consumers. Thus, there is the need to ensure project parameters comparability to get the satisfactory result for the projects small range which is present in the historical data.

References

Archibald, R. D., Di Filippo, I., & Di Filippo, D. (2012). The six-phase comprehensive project life cycle model including the project incubation/feasibility phase and the post-project evaluation phase. PM World Journal, 1(5), 1-40.

Tache, F. (2012). Developing the New Dimension of Monitoring and Evaluation Processes within Project Management. Faculty of Management the Bucharest of Economic Studies, 398-407.