...Management Control of Project Portfolio Uncertainty: A Managerial Role Perspective Tuomas Korhonen, Cost Management Center (CMC), Department of Industrial Management, Tampere University of Technology, Tampere, Finland Teemu Laine, Cost Management Center (CMC), Department of Industrial Management, Tampere University of Technology, Tampere, Finland Miia Martinsuo, Department of Industrial Management, Tampere University of Technology, Tampere, Finland PAPERS ABSTRACT ■ This article presents empirical results on different managers’ viewpoints regarding the sources and management of project portfolio uncertainty. As a key result, this study demonstrates the versatility of uncertainties experienced by managers, the limited degree of perceived control over them, the use of an almost complete management control package in managing uncertainties, and the necessity of managers’ cooperation in the skilled use of the management control package when managing uncertainties. In addition, a further research agenda is proposed. KEYWORDS: project portfolio management; uncertainty; managerial roles; management control systems; product development INTRODUCTION ■ n their product development, large companies have adopted project portfolio management (PPM) as a means for prioritizing and selecting product development projects among various options as well as allocating resources with the value maximization, balance, and strategic alignment of the portfolio in mind (Cooper, Edgett, & Kleinschmidt...
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...challenges with which managers must deal ■Describe how historical research on management has contributed to the current practice of management ■Identify and discuss the primary managerial functions © 2008 Prentice-Hall Business Publishing Learning Objectives Explain the three general roles involved in managerial work and the specific roles within each ■Explore and describe the three dimensions of managerial jobs ■Discuss the primary skills required to be an effective manager ■ © 2008 Prentice-Hall Business Publishing What is Management? Management is a process that involves: ■Assembling and using sets of resources ■Acting in a goal-directed manner to accomplish tasks ■Activities carried out in an organizational setting © 2008 Prentice-Hall Business Publishing Managerial Challenges Managing Change Managing Entrepreneu rially Managerial Challenges Managing Resources Managing Strategically © 2008 Prentice-Hall Business Publishing Managerial Challenges: Managing Change Managing change: ■Is the most persistent, pervasive and powerful challenge for managers ■Requires managers to gain employee acceptance Two causes of change: ■Technology ■Globalization © 2008 Prentice-Hall Business Publishing Managerial Challenges: Managing Resources Managers must manage resources, including: ■Financial capital ■Human resources ■Physical resources ■Technology © 2008 Prentice-Hall Business Publishing Managerial Challenges: Managing Strategically ...
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...Competencies for Senior Manager Roles Pradip N Khandwalla includes research articles that focus on the analysis and resolution of managerial and academic issues based on analytical and empirical or case research RESEARCH Executive Summary KEY WORDS Senior Managers Roles Managerial Competencies India This paper identifies competencies that may aid role effectiveness at senior managerial levels. It fills a research gap: while managerial roles and competencies have been studied fairly extensively, their relationships have not been demonstrated. The performance of senior level managers — and therefore of the organization — depends upon how well they play their varied roles. In this paper, the roles of senior managers have been categorized into nine strategic, nine operations-related, and nine leadership roles. Strategic roles relate to such matters of long-term and organization-wide import as policy formulation, setting of long-term objectives, articulation of a vision of excellence for the organization, contributing to the organization’s growth and diversification, procuring of strategic resources and intelligence, etc. Operations-related roles cover implementation of policies and changes, setting short-term targets, work allocation to staff, operating a control system, crisis management, etc. Leadership roles encompass inspiring subordinates, developing effective relationships, getting cooperation, emphasizing core values and norms, mentoring, fostering teamwork...
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...+ FACULTY: ACCOUNTING, BANKING AND FINANCE PROGRAM: BACHELOR OF ACCOUNTANCY SUBJECT: MANAGEMENT TUTORIAL ASSIGNMENT STREAM 1D: GROUP 3-SUB-GROUP 1 GROUPMEMBERS: REG.NO: NDEMEKA, RENATUS. BAC/12/71432 MAKOLO, ALEX E. BAC/12/71337 CHARLES, PAMELA. BAC/12/61122 MORI, FADHILA J. BAC/12/61545 CHISUNGA, PAZI. BAC/12/71202 SEIF, SAADA AB. BAC/12/61153 MATTA, MICHAEL W. BAC/12/71131 QUESTION: Management can be thought of as multi-dimensional in nature. It can be defined as a process, as discipline, people and career. Clearly distinguish between managerial functions and managerial roles. How are they related? Introduction: The word’’ manage’’ comes from the Italian maneggiare {to handle especially tools}, which derives from Latin word manus{hand}.The French word mesnagement[later management]. It is very difficult to define the term management but different scholars tried to define management as follows; According to Harold koontz; Management is the art of getting things done through others and with formally organized groups. According to Bovee; Management is the process of achieving organizational goals through planning, organizing, leading and controlling the human physical financial and information resources of an organization in an effective and efficient manner. According to Mary Partner; Management is the art of getting things done through people. ...
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...MODEL. To meet the many demands of performing their functions, managers assume many roles in management. Management is one of the important human activities and has critical impact on life, growth, development or destruction of an organization. In an organization, managers with any rank or status should understand their basic duties, that is, managers would not be able to perform their duties unless they are aware of their managerial roles. In this paper, the terms management, roles and organization will be defined, management’s research history will be briefly looked at and then Henry Mintzberg’s ten managerial roles will be discussed. Stoner(1992:4), define management as, “the process of planning, organizing, leading and controlling the work of organization members and using all available organizational resources to reach stated organizational goals.” McShane and Steen(2009) define management as a process of assembling and using sets of resources in a goal-directed manner to accomplish tasks in an organizational setting. Therefore it can be said that management is what managers do, it is not passive, but an activity that involves coordinating and overseeing the work activities of others so that their activities are completed efficiently and effectively in achieving the organizational goals. According to Mintzberg(1973) cited in Ramezani and Tondnevis(2011:559), a role is defined as, “an organized set behaviors identified with a specific management position...
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...and * involves knowing how to perform the major functions of management. 4 Major Functions of Management Planning: Setting goals & deciding how best to achieve them. Controlling: Regulating activities to reach goals. Organizing: Allocating and arranging resources. Leading: Influencing others to work toward goals. * Not –for- Profit Organization – an organization whose main purposes center on issues other than making profit. Managerial Work Agendas * Nature of Work Agendas – a work agenda is a loosely connected set of tentative goals and task that a manager is attempting to accomplish. * Factors Influencing Work Agendas – according to Rosemary Stewart, a British expert in managerial work, there are 3 main factors that likely to have an impact on a manager’s work agenda: 1. Job Demands – activities a manager must do in a job. 2. Job Constraints – are the factors, both inside and outside the organization, that limit what a manager can do. 3. Job Choices – are work activities that the manager can do but does not have to do. Work Methods: * Unrelenting Pace * Brevity, Variety and...
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...Managerial roles in business MGT 521 - Management February 09, 2015 Managerial roles in business Managers are directed to perform their responsibilities and discover through formal training or hands-on experience how to integrate the five basic fundamentals of their job: planning, organizing, staffing, leading, and controlling (Houghton Mifflin Harcourt, 2014). “Business managers oversee the day-to-day operations in large and small organizations. In a big company, managers typically oversee an individual department, such as marketing, sales or production. In a smaller company, the business manager might oversee operations in all departments. Office managers oversee the work of clerical or support staff in the business” (Kelchner & Media, 2015). Planning According to Robbins and Coulter (2012), planning is explained as, “Defining the organization’s goals, establishing strategies for achieving those goals, and developing plans to integrate and coordinate work activities” (pp. 204). “Say, for example, that the organization's goal is to improve company sales. The manager first needs to decide which steps are necessary to accomplish that goal. These steps may include increasing advertising, inventory, and sales staff. These necessary steps are developed into a plan. When the plan is in place, the manager can follow it to accomplish the goal of improving company sales” (Houghton Mifflin Harcourt, 2014). Organizing Once a plan is established, a manager has to coordinate...
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...implies that also techniques used in managerial accounting for each business differ as the business grows. During start up the business rely on capital investment and budgeting techniques. A mature business relies upon quality control and cost management. Techniques used ultimately assist the business to achieve its long-term and short-term aims via efficient decision-making. The objective of this paper is to study each concept available in the accounting definition and provide a framework needed for deep understanding of aspects and issues involved in the process of accounting. The paper will have two part. The first part will look at the first aspect that is to define managerial accounting and look at its role, techniques and ethical issues facing managerial accountant. We will also highlight the role of a managerial accountant. In the second part, three topics will be covered. The three topics are; cost investment techniques, budgeting, and quality control. In the selected topics, real-world cases will be presented in relation to how they relate to managerial accounting techniques. Managerial accounting is defined as process involving preparation of management accounts and reports so as to provide timely and accurate statistical data needed by managers in their routine decisions. It might also involve identification of information, analyzing, measuring, communicating and interpreting it in line with an organization’s goals. Managerial accounting is used in the generation...
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...Unit 4001 - An Introduction to Management Styles Name: Timothy Freeman CMI Number: P04304125 1. Be able to understand assumptions about human nature and managerial behaviour. 1.1 Identify models which make suppositions about human nature and behaviour at work Theory X and Theory Y represent two sets of assumptions about human nature and human behaviour that are relevant to the practice of management. They describe two contrasting models of workforce motivation. Theory X represents a negative view on of human nature that assumes individuals generally dislike work, are irresponsible, and require close supervision to do their jobs. Theory Y represents a positive view of human nature and assumes individuals are generally hard-working, creative, and able to take on responsibility and exercise self-control in their jobs. One would expect that managers holding assumptions about human nature that are consistent with Theory X might exhibit a managerial style that is quite different than managers who hold assumptions consistent with Theory Y. 1.2 Discuss how attitudes as assumptions can influence managerial behaviour. McGregor described two distinct set of assumptions about people at work. He believed that these assumptions influence the thinking and attitude of most managers about the people at work. 1|Page Theory X presents a pessimistic or negative view of human nature whereas Theory Y reflects an optimistic or positive view of human behaviour. Theory X lists...
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...The current issue and full text archive of this journal is available at http://www.emerald-library.com Human resource management aspects of business process reengineering: a survey Aston Business School, Aston University, Birmingham, UK Keywords BPR, Human resource management, Reward, Managers, Organizational structure, Teamwork Abstract Examines the relationship between business process re-engineering (BPR) and human resource management. A number of propositions relating to aspects of human resource management are derived from the literature, and examined by interviewing senior managers in UK organisations where business process re-engineering projects had either been completed or were still in progress. The propositions are analysed under four major headings: structure and culture, the role of managers, team working, and reward system. The conclusion is that BPR principles on the management of human resources as stated in the literature seem to find a full application in most of the organisations investigated. However, there were two exceptions to the expectations in the literature. The first was that there would be a change to a process-based structure; a change is seen in the majority of cases, but to a matrix style of organisation. The second was the implication that team-based reward systems would appear; this has only happened in a minority of cases. Overall, for the organisations studied which have undergone BPR, a very clear pattern emerges with respect to human...
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...the resource/anchor person can claim to be uniquely his own except his/her tacit knowledge and the presentation style. The write-ups from chapters of recommended text books for this course has also been included and are highly acknowledged. The Intellectual Heritage of Management: Organized endeavors directed by people responsible for planning, organizing, leading, and controlling activities have existed for thousands of years. The Egyptian pyramids and the Great Wall of China, for instance, are tangible evidence that projects of tremendous scope, employing tens of thousands of people, were undertaken well before modern times. The pyramids are a particularly interesting example. The construction of a single pyramid occupied more than 100,000 workers for 20 years. Who told each worker what to do? Who ensured that there would be enough stones at the site to keep workers busy? The answer to such questions is managers. Regardless of what managers were called at the time, someone had to plan what was to be done, organize people and materials to do it, lead and direct the workers, and impose some controls to ensure that everything was done...
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...Definition: “Individual gathered towards under the similar circumstances to achieve common goals”. Or Organization is a social of unit of people organized to accomplish a common goal or set of goals. It consists of individuals who carry out different roles within it to achieve organizational goals and objectives. Organization structure Every organization should have Organization structure because it tells about the level of hierarchy that who is responsible to whom and also shows position of a person. Organization structure consists of vital pillars of an organization which the organization is composed of. Frame of Organizational Structure:- Work Specialization:- Work specialization is a key factor of organization structure. In the organization there are several jobs along their workers. So the workers perform individually their tasks so they are performing that activity again and again then they trained and work specialized on their field. This factor is gives advantage and disadvantage both e.g. In a Honda company these are many portions every worker is specialize on their portion by doing one job. He could be more accurate, takes less time In less input will give more output and the disadvantage is that if the work specialized person is absent so the production will be stop. By doing the same job he might be bore so the moral will be down... Departmentalization:- Though departmentalization jobs are divided into the specialize work and they perform the tasks in a groups...
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...TERM PAPER ON Roles and Responsibilities of Manager at Different Levels of Organizational Hierarchy in Banglalink GSM Telecom Co TERM PAPER ON Roles and Responsibilities of Manager at Different Levels of Organizational Hierarchy in Banglalink GSM Telecom Co Submitted To Professor Dr. Quazi Abdus Samad Course Instructor Faculty of Business & Economics Submitted By Md. Yeaqub Ali 041-18-253 B.com (Hon’s) 3rd Batch Submission Date: December 26, 2006 Daffodil International University Sukrabad, Dhaka 1207 Md. Yeaqub Ali Daffodil International University 102 Sukrabad, Dhanmondi Dhaka 1205 December 26, 2006 Professor Dr. Quazi Abdus Samad Course Instructor, fall semister 2006 Faculty of Business & Economics Daffodil International University Dear Sir: Subject: Submission of Report on “Roles and Responsibilities of Manager at Different Levels of Organizational Hierarchy in Banglalink GSM Telecom...
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...day-to-day business flow. Managerial functions of the project will stop at the Plant manager and Administration department. All other functional departments on the lower level will be responsible for production on a day-to-day basis. The diagram below shows the proposed organizational structure. Fig 1: Outline of Organizational Structure handeling the project Paarl Coldset Project Director D Le Fleur Plant Manager L Mhlongo Administrator Z Mangcola Supervisor 1 A Nkonyeni Supervisor 2 S Ketani Sorters Technicians Paarl Coldset Project Director D Le Fleur Plant Manager L Mhlongo Administrator Z Mangcola Supervisor 1 A Nkonyeni Supervisor 2 S Ketani Sorters Technicians Fig 2: Interface between Project Structure and Operational Structure Funding of Project Funding of Project Paarl Coldset Project Director D Le Fleur Plant Manager L Mhlongo Administrator Z Mangcola Supervisor 1 A Nkonyeni Supervisor 2 S Ketani Sorters Technicians Paarl Coldset Project Director D Le Fleur Plant Manager L Mhlongo Administrator Z Mangcola Supervisor 1 A Nkonyeni Supervisor 2 S Ketani Sorters Technicians Managerial Functions of Project Managerial Functions of Project Production Functions of Project Production Functions of Project Our Project Organization is based on grouping people together with a common goal and mission. Because our has a starting point and a termination point this project structure will...
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...succession planning best practices Kevin S. Groves College of Business and Economics, California State University, Los Angeles, California, USA Abstract Purpose – Organizations often fail to utilize managerial personnel effectively for leadership development and succession planning systems, and many execute these critical practices through separate human resource functions that shift the responsibility for leadership development away from line managers. The purpose of this article is to present a best practices model for optimal development of the leadership pipeline and a series of practical recommendations for organizations. Design/methodology/approach – A group of 30 CEOs and human resource executives across 15 best practice organizations were asked via semi-structured interviews to describe the content and delivery of their respective organizations’ leadership development and succession planning practices. Findings – Analysis of interview data indicated that best practice organizations effectively integrate leadership development and succession planning systems by fully utilizing managerial personnel in developing the organization’s mentor network, identifying and codifying high potential employees, developing high potentials via project-based learning experiences and manager-facilitated workshops, establishing a flexible and fluid succession planning process, creating organization-wide forums for exposing high potential employees to multiple stakeholders, and establishing a...
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