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Summary: Red Stone Company

Essay by   •  October 7, 2015  •  Coursework  •  435 Words (2 Pages)  •  721 Views

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Executive Summary

Red Stone is a project management company based in Edmonton. The company deals with projects from various domains such as construction, event planning and many other fields. The management body of the company has observed a number of loopholes with the way their projects are delivered.

Prestige Innovation Ltd., a consulting firm based in Edmonton, has been contacted by the executives of Red Stone to help them examine and analyze the problems plaguing their company and provide possible recommendations that can help improve their project management practices, and become more competitive in business. Based on a survey conducted, Prestige Innovation has been able to study the issues the company is facing.

The project will begin with an introduction, which provides some background information on the project. The consultants will be using various charts to present their results of the data they have been able to collect in their report. They will draw conclusions based on answers provided to the questions in the investigation.  

During the analysis, Prestige Innovation observed that time management, poor design structure for team work, poor budgeting and lack of project scheduling, risk identification, as well as communication difficulties in their teams, were among the issues faced by Red Stone’s Project Managers. By having a regular assessment period within the organization would be able to address performance issues and reduce the amount of negative employees. After carefully securitizing these issues, Prestige Innovation Ltd. would like to recommend that the project managers set what tasks need to be completed by a certain date in order to avoid late delivery of projects. They can use charts and timelines to monitor their schedule of activities and keep track of the various project tasks. Equally, they can use time-phased budgeting to allocate costs to their project activities and ensure that this matches the set deadlines. Monitoring could be a method the project managers use in order to be certain that feedback is provided by various parties at various stages of the project progress. To create better communication, Red Stone could find a way to get the teams talking and sharing information more efficiently. This could be by creating meetings more often, or even team building exercises that would help team members interact with each other. By making sure all employees are content and feel appreciated, they will work to the best of their ability the result will make clients extremely pleased with the results.

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