BPO Project Management Methodology

Business Process Optimization projects follow the same method as defined by the Project Management Institute. Project management is accomplished using the process group such as: initiating, planning, executing, controlling, and closing. As stated in the Project Management Institute's (PMI®) A Guide to the Project Management Body of Knowledge (PMBOK® Guide) 2000 edition, “these process groups are linked by the results they produce- the result of one often becomes an input to another.”

· Initiating - authorizing the project or phase is part of scope management.

· Planning - defining and refining objectives and selecting the best of the alternative courses of action to attain the objectives that the project was undertaken to address.

· Executing - coordinating people and other resources to carry out the plan.

· Controlling - ensuring that the project objectives are met by monitoring and measuring progress regularly to identify variances from plan to plan so that corrective action can be taken when necessary.

· Closing - formalizing acceptance of the project or phase and ending it.

The rest of this paper identifies how Integrated Project Management Company combines project management bestpractices with certain six-sigma methodologies to provide the structure and leadership required to identify process improvement opportunities, develop sustainable solutions, and lead the organization through the strategic change process.

Conclusion

Organizations are able to achieve sustainable and effective process improvement by combining project management and Optimize Critical Business Processes. The ability to combine these proven methodologies provides the structure and discipline required to identify process improvement opportunities, develop sustainable solutions, and lead the organization through the strategic change process. Use of these integrated techniques allows business processes to be efficient, agile, and meet the organization’s customer demands. In today’s challenging, global economy it is essential for organizations to combine the disciplines of Project Management and business process optimization to realize process gains that ensure “faster”, “better”, “cheaper” for their products or services, while maintaining a high level of quality in the marketplace.

Glossary

Efficiency - the comparison of what is actually produced or performed with what can be achieved with the same consumption of resources (money, time, labor, etc.). It is an important factor in determination of productivity.

Commitment - earmarking or setting-aside of funds in response to a purchase requisition. These funds remain committed (encumbered) until the purchased good or service is paid-for after its receipt, thereby converting the encumbrance into an expenditure.

Retention - the condition of retaining (keeping) something.

Reconciliation - Item by item examination of two related sets of figures obtained from different sources. Most commonly, this term is applied to bank reconciliation.

Realignment - a change in the exchange rate between currencies.

Six Sigma methodology - the business management strategy used to improve the quality of products or services produced by the business through the removal of defects and errors.

Critical business function - Vital function (such as production and sales) without which a firm cannot operate or remain viable. If a critical business function is interrupted, a firm could suffer serious financial, legal, or other damages or penalties. Earliest possible restoration of such functions after a disruption is the main objective of business continuity planning.

Bibliography

1. Adams, M. (1999) Simulation as a tool for Continuous Improvement. Proceedings of the 1999 Winter Simulation Conference. [Electronic Version]. Retrieved on June 20, 2006 from http://portal.acm.org/citation.cfm?id=324138.324475

2. Project Management Institute (2000) A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (2000 ed.). Newton Square, PA: Project Management Institute.

3. Smith, H. (2002). Business Process Management: The Third Wave. (1st ed.). Tampa: Meghan-Kiffer Press.

Date: 2015-12-24; view: 900