Wednesday, January 29, 2020
The Natural resources Essay Example for Free
The Natural resources Essay The Natural resources company in the oil production exploration field had huge number of projects to work on including 50% platform projects, 30% medium 20% small scale projects, 80000 hours are required to cover all the projects. 41 employees are currently overseeing the project management department where, an average of 5 employees contributes in the major project 8 for minor medium each. At present, many projects in particular the minors, have crossed their deadlines budget. The reason; too much labour being utilized in the major projects, creating trouble for the employees as well as the companyÃ¢â¬â¢s budget. To retain a balanced portfolio, project resources will have to be split equally across the three types of Projects i. e. 33. 3% by reducing the platform projects from 5 to 3 and increasing Small Scale Projects from current 18 to about 22. The main issues strategies of the company can be observed by conducting an overall analysis, which can help in accomplishing a thriving portfolio. All these steps can be taken successfully, only if the support of management is present the new users made aware of the implementation of the plan through regular meetings in order to obtain their contribution via feedback. Due to the oil prices on a high rate, the company is gaining in the financial perspective therefore; creating prospects for new projects hence expands the portfolio. Ensuring the quality of the product at a competitive price can be achieved through effective project management. Reducing the operating costs delivering on time will help to increase profits by securing clients. This prospect is being incorporated by involving local firms in the companyÃ¢â¬â¢s projects. Increasing the number of employees will let us take up more projects saving time consequently gaining revenue. The proposed stratagem should fit the culture of the company and the community or they would face customersÃ¢â¬â¢ rejection.