Team Insight Paper

One of the basic requirements of PM587 is participation in a team project. Team participants for this group were three. The project required guidelines related to the Strategic Business Unit (SBU) processes and how decisions are reached on selecting projects which are most closely aligned with the goals and values of the company. The project also required an analysis, a selection criteria and procedural techniques for applying portfolio management theory and methods. Our project team was formed on the second week of the session and at this time we were faced with two challenges:
1) Our project began one week later than the provided schedule. Groups should have been formed in week one, but instead, teams were not assigned until week two. Even with being a week behind, the implementation date of the project was week 7, and remained unchanged.
2) The main resource that we lacked was time. The class was required to prepare and take quizzes during weeks three and five. With the Thanksgiving Holiday falling on the schedule during week five, this posed another challenge in which natural conflict developed with regards to the usual holiday travel and vacation schedules.
Based on these challenges, the team immediately started discussing the requirements of the team project instead of working on team construction. All team members agreed that our group was a non-team- leader group.
The reasons are:
1) We were a small, three-person group and really did not need a team leader. We all understood the roles and responsibilities we had within the team.
2) All of us were working remotely and only met once a week. Each member of the group would play off each other’s strengths in order to divide and complete the project.
During our kick-off meeting, we decided,
1) After comparing several proposed industries, we would choose the insurance