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What tips can you give for analyzing and reviewing projects to identify improvements?

Category: Financial Statement Analysis Paper Type: Online Exam | Quiz | Test Reference: APA Words: 1200

1. What tips can you give for analyzing and reviewing projects to identify improvements?

               It is important to understand that analysis and review of projects on a constant basis are very critical in so many ways. There can be situations, where a project may be distracted due to any mistake, which means that the whole direction of the project will be wrong, and actual objectives may not be achieved. But if the project is constantly analyzed and reviewed, then any mistake or error can be identified at its early stage, which is then rectified to keep things on the right track. Moreover, this review is also crucial to identify any needs and requirements of the project, which may not have been included in the initial plan. The project team may need any help or resource to deal with any unforeseen situations.

2. What is the difference between coaching and mentoring?

               It is vital to realize that overall, mentoring and coaching may look at similar processes, but they are different in so many ways. Mentoring is the process, where a person has extensive knowledge and experience than others, and he/she shares that knowledge and experience with others to help them for grooming. But coaching is a bit long term process, where sharing experience and knowledge is not the only thing; rather a coach does every possible thing to develop an optimum learning environment so that people can learn as much as possible and explore their own capabilities. A coach helps to set some considerable goals and then leads to achieving those specific goals.

3. How can you assign responsibility to team members?

               The process of assigning tasks and responsibilities is very critical; if a task is given to a wrong person, then the outcome will most likely be undesirable. So, assigning tasks to relevant people with relevant skills and capabilities is crucial, otherwise, a project may face various difficulties. Before assigning a task to someone, the person should be analyzed and reviewed for his/her personal experience, skill set as well as the level of motivation. When you find someone with all of these qualities having relevancy with the task to be assigned, then it would be easy to assign responsibilities to the right group of people.

4. Describe the negotiation process?

               It is vital to know why negotiation is done, which actually would define its process. It is a process when two parties may involve in a discussion to settle a matter. This matter can be a point of dispute between the two parties, so they discuss possible options to settle the issue. It is a fact that when two parties deal with each other, they can have various differences, and the negotiation process helps to settle those particular differences. It is also a common thing that when two parties are entering into any deal or partnership, they stuck in the process due to a disagreement. So, this is the point, where the negotiation process comes handy. The negotiation process explores the best possible options for both parties so that they can agree on some points for the continuation of the process. It means that the negotiation process is extremely beneficial in resolving issues, disagreements as well as for settling differences.

5. What are the qualities of a good leader?

               A good leader is not made with one or two qualities; rather it is made with so many diverse qualities. There are few qualities, which are must to be possessed by a leader. A leader should have a great vision, which drives the people in a certain direction. Moreover, a leader with great vision has the quality to inspire its subordinates. A leader is also confident in his/her approach to delegate tasks and responsibilities. There is one essential quality of every good leader, and that is integrity. The followers trust those leaders, who show integrity. A good leader should have great communication skills so that he/she can communicate with his/her team. IN addition to that a leader should have the capability to make decisions in any given situation. Empathy, as well as creativity, is also attributed qualities of good leaders.

6. For an upcoming project of your choice, identify what human resources will be needed to meet desired outcomes. Plan how tasks will be delegated, how many workers will be needed for certain tasks, and what skills, abilities and levels of experience are required. Remember, you will need to consider quality and timeframe requirements when planning human resources.

Name of the Project: Installing New Computers with Updated Systems

               It has been estimated that the workload of the company has been increased so they need ten more employees to boost the productivity process. Before hiring ten resources, the company is looking to add ten more computers with updated systems so that when new hires come to the office, they can work on the PCs. The timeline for this project is 20 days before hiring will be started. New computer systems will be installed with all required software as well as network installation etc.

               The company will have to hire experts who will help in the physical installation of systems, cables as well as electric supply. Then the company will need the expertise of software experts, who will install all the required software to be used by the new employees. Once the hardware and software are installed on all new PCs, then the next step would be to hire networking experts, who would do networking of these computers to link them with the central database and server of the company. All of these tasks are estimated to be getting done within 20 days' time if any pertinent issue is not faced.

7. Plan a group training and development session which ensures that all workers are confident and able to do their jobs effectively and safely.

               The training and development of employees are vital for an organization or project so that employees are capable enough to handle their jobs. There can be situations, where a new process is included in the project, but that process is out of the expertise of the current employees, and they need training and guidance in this regard. For instance, if new software is installed in the system and employees are asked to use new software by putting all the required information and data in this new software. But software is complex to use, and employees may wonder how to use it properly. Then a training and development session is necessary to train them. Each employee will be given complete training to use new software, and if they will have any questions or confusion, then they will be supported to mitigate those confusions so that they properly use the new software, otherwise, they may find it difficult to handle their tasks and responsibilities.

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