Basics of Financial Management
8 important questions on Basics of Financial Management
The project-based organisation (PBO) is ideally suited for managing:
- Increasing product complexity
- Fast changing markets
- Cross-functional business expertise
- Customer focused innovation
- Market and technology uncertainty
What are characteristics of CoPS (complex industrial products and systems)
- High-technology, business-to-business capital goods used to produce goods and services for consumers and producers.
- Each individual CoPS is high cost and made up of many interconnected parts
- Produced in projects or small batches
- High degree of direct user involvement
- non-routine tasks
What is a project?
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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What is a project-led organisation?
What is a project based organisation?
What is a temporary organization?
- Time: time horizons and time limits
- Task: one or very limited number of tasks
- Team: the team forms around the task at hand and the time available
- Transition: action orientation -> something has to be transformed or changed as a consequence of the existence of the temporary organization.
What are the characteristics of a permanent organization?
- Goals: more naturally defined by goals rather than tasks
- Survival: more naturally defined by survival rather than time
- Working organisation: more naturally defined by working organization rather than team
- Production processes & continual development: rather than transaction.
What are the four fases of a temporary organization?
- Concept
- Development
- Implementation
- Termination
The level of effort increases to a maximum during the implementation fase. After that fase it declines
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