Project management as a process of planning, arranging, motivating, Essay

Project management as a process of planning, arranging, motivating, and controlling resources - Essay Example Change management takes into consideration the critical analysis on dimensions of change, Kotter 8 stages model, psychology of change, personal and structural power, need of planning and what are the reasons for the failure of the change management. Risk management deals with managing the risk which is associated with project. This paper will mainly focus on identifying different types of risk and the key factors in managing risk, different ways to manage risk and describing the risk management process. In terms of team building, the main focus will be on the process of team building, identifying the different roles required in a team and identifying the methods of team management. All these approaches will lead to project management in order to accomplish a successful project and therefore to produce a specific result in the organisation. Change Management Organisational change management is a framework for administrating the effect of new business processes and the change in the or ganizational structure within an enterprise. It is an approach to shift teams and individuals from present to required future state. It refers to part of project management process where project changes are formally introduced and accepted. The goal change management is maximisation of benefits and minimisation of impact of change on workforce without distraction (Sharma, 2006, pp.23-30). The process of change management can be summarised from the following change management diagram, (Source: Sourcingmag, 2012) Critical Analysis of Dimensions of Change There are two dimensions of change management namely organisational dimensions and individual dimensions. Organisational change is motivated by business survival, potential competitive advantage, improved efficiency and external factors. The external factor like introduction of new policies or economic downturn might compel a company to change from existing state. Most of the organisational changes are created internally. All level of managers can initiate change. For instance, middle level manager can plan to reduce cost, frontline managers may apply new technology and senior managers may amalgamate the company with other organisation. Individual resistance to change depends on the organisational culture, security, economic factors and individual characteristics such as personalities, perceptions and needs. People with high need for security resist change because it intimidates secured feeling. Changes in job tasks create fear in workers when their pay is linked to productivity. They also have fear of not being able to learn a particular task. Such fear is known as the fear of the unknown (Hellriegel and Slocum, 2007, p.459). Kotter’s 8 Stage Model Kotter eight stage model provides eight processes to evade common problems that trouble even simple change efforts in an organization. Skipping a step or making a crucial mistake within the step can have a crippling effect on the success of change initiative. The eight stages can be summarised as follows: (Source: Ivey Business Journal, 2008) Establishing a

Financial Market Homework Essay Example | Topics and Well Written Essays - 750 words

Financial Market Homework - Essay Example Financial markets are usually divided into capital markets and money markets. The capital market involves exchange of long term finance (Robert, 2009). This includes stock market, which facilitates financing through issuing stocks and also exchange of stock ownership and the money market which facilitates debt financing and investment (Rose, 1994). Currently the financial sector has additional markets to facilitate financing such as commodity markets derivatives market, futures markets and foreign markets. Financial markets provide borrowers with funds to facilitate their investments (such as corporations and government institutions to obtain funds in order to finance their current operations or to finance expansion and growth) (Wurgler, 2000). It also provides the lenders a platform to channel their surplus funds in productive way (such as financial institutions that have excess funds to lend on short term and long term basis), facilitates credit creation (usually done by commercial banks through issuance of loans), provides liquidity to institutions and government organizations and promotes savings culture (the commercial banks provides financial savings services) In Qatar, the financial market is controlled by Qatar Investment Authority (QIA). This is the serves as the state’s sovereign wealth fund that specializes in both local and international investments. Usually QIA manages the financial surpluses from oil and natural gas companies (which run into millions of dollars) Additionally, Qatar Holding, a branch of QIA that is in charge of international investment, receives more than $30 billion from the state. These funds are invested internationally in Europe, Asia Pacific, and United states It is estimated that QIA has assets worth over $170 billion (Hall, Kerr & Hammond, 2013). This value is expected to increase as the country continues to invest in expansion