Building high-performance project team.

Effective team could only be created, if: 1) right people are chosen; 2) diversity inside the organization (skills, abilities); 3) clearly define rules; 4) set goals and targets; 5) Deploy leadership skills (motivate, be an example, create decision makers not only takers), manage conflicts; 6) encourage competition; 7) collaboration between group members; 8) Offer incentives to work; 9) ensure healthy climate - physical and psychological; 10) Implement sustainability principles – they motivate people, feel themselves making change.

13. Determinants of project success.

Process innovation; product innovation; technology adoption; value chain management; clustering; managerial expertise; worker skills; quality of the entire team; core competences; market orientation; access to capital (start-up and further borrowings)

14. Project risk management

There are four stages to risk management planning. They are:

-Risk Identification

-Risks Quantification

-Risk Response

-Risk Monitoring and Control

Risk Identification (Vendor not meeting deadline). Risk Quantification: Risk need to be quantified in two dimensions. The impact of the risk needs to be assessed. The probability of the risk occurring needs to be assessed.

Risk Response: - Avoid the risk. Do something to remove it. - Transfer the risk. - Mitigate the risk. -Accept the risk. A risk response plan should include the strategy and action items to address the strategy. The actions should include what needs to be done, who is doing it, and when it should be completed. The final step is to continually monitor risks to identify any change in the status, or if they turn into an issue. It is best to hold regular risk reviews to identify actions outstanding, risk probability and impact, remove risks that have passed, and identify new risks.

Date: 2015-02-03; view: 717