Operations and Project Management

This article Operations and Project Management consists of 5 pages and 1310 words.
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Ref. no: 2505

NTRODUCTION

 

 

Purpose of Plan

 

Operations and Project Management: EV offshore limited, a UK based company specializes in developing technologies related to video imaging for oilfield services. The technology is focused on oil and gas industry which helps in-house experts and technical engineers to work on down-hole videos in order to support the energy sector. The purpose of this project is to prepare a feasibility analysis for the company to relocate its manufacturing facility and production plants of Down- Hole camera and Sensors Company from UK to one of the GC countries Oman in order to cater emerging and growing markets such as Asia, Middle East and Australia.

 

The project is mainly focused on the factors of production such land, labor and capital requirement in order to enter in new market. Operations and Project Management In addition to this, it also covers the economic aspect of country with respect to energy sector development and Foreign Direct Investments (FDI). In between 2008-2011, the country received approximately 1,598mn of dollars investment from different countries and states such as Europe, UK and Africa region.  Furthermore, the country is considered to be the non OPEC largest oil producing country as of 2014; however the country is also expecting to increase its oil and gas extraction and production which are heavily dependent on technologies.

 

Project Teams & Roles

 

 

In the process of developing and running a new business in new market, it is the responsibility of senior management to decide on different teams and their roles that are considered to be the best outcome for the business in long term. The business should be comprises of the following teams.

 

• Finance Team: The objective of every finance manager is to maximize the shareholder value and that can be achieved via maximizing the revenue and minimizing the cost. However, revenue and expenses should be well monitored in order to avoid high operational, selling and administration cost. It is the responsibility of finance team/manager, to price the product based on different components such as, demand and supply, cost of raw material, items being imported and their exchange rate parity to avoid any future losses.

 

• Marketing Team: The objective of Chief Marketing Officer (CMO) is to design the product based on the client’s needs. The team should be more focused on the product development rather than production based. Promoting brand via different channels and differentiating it from the competitors is the core responsibility of marketing people.

 

• Logistics Team: The team is responsible for timely deliverables, monitoring the cargo movements from one place to another, responsible for managing inventory with proper care and responsibility and providing raw material at right time to avoid any discontinuation of production process which may cause any loss for the company.

 

• Operation Department: The team is responsible to run and monitor day to day operation which is the core function of the firm. However, they are also the responsible for the profitability of the firm and take some serious concerns to avoid any haphazards and may cause loss for the company.

 

• Human Resource Management: They are completely accountable and responsible of hiring technical and non –technical staff of the firm. Training, development, compensation and maintaining low turnover is the core responsibility of HR people.

 

 

 

 

Project Stages

 

The project stages are comprised of the following stages:

 

• Idea Creation& Initiation. This stage mainly focuses on the idea generation in order to come up with new product or innovation. Considering the given scenario, the company planned to move its production plant to Oman to capture more market share. At this stage, it is the responsibility of management team to decide whether the idea is feasible or not? Is it easier for a new startup “EVCAM” to compete with local manufactures?

 

• Planning: How the production plant can be shifted from UK to Oman? Does the company have that much capital to buy new machinery equipments to start its production process? How much technical or non technical staff is required? How to compete local manufacture and build a brand image in the mid of consumers. What is the target market such as household or business sector (Private, Public or state-Owned entities) and etc. Planning plays an important role in new startups.

 

• Execution: As discussed above, execution and operation team work together as a single team to execute the plan what has been decided. How to mitigate the different operational risk to avoid losses if it does not work as per planned instructions. So the execution team will be responsible for all the front line problems and solution to the customers and company’s stakeholders.

 

• Closure: There should be a proper closure, once the project is successful as per mentioned instructions. In most cases, there are no proper closures which cause an ambiguity for the staff of company what further to do or not to do….