Study on Lean Project Management with Reference to Company

Introduction

Study on Lean Project Management with Reference to Company mba project management Today organizations face challenges in the form of intense international competition, rapid technology evolution, maturing customer expectations and quality demands. In such circumstances, effective and efficient management is among the primary ways in which organizations adapt for their existence. Project management has become a fundamental way to effectively carry out business activities. The activities often carried out in the form of projects belong to various industries, such as education, infrastructure, administration, management, product development, and so on. Many of these projects, however, are condemned to be late and incur costs, which are often considered normal. Study on Lean Project Management with Reference to Company mba project management is the comprehensive adaption of lean concepts like Lean Construction, Lean Manufacturing and Lean Thinking into a Project Management context.

Lean Project Management has many ideas in common with lean concepts. However, the main principle of lean project management is delivering more value with less waste in a project context. Lean Project Management has many techniques that can be applied to projects and one of the main methods is standardization. Standardization is the process of developing and implementing technical standards. The goals of standardization can be of help with independence of single suppliers, compatibility, interoperability, safety, repeatability or quality. Project delay practically means delay in product launch, definitely missing market opportunity and innovation leading edge, which seriously affects the dominance of the company in the industry. In addition, it is also noted that projects frequently demonstrate unsatisfactory efficiency and quality output

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