Question

In project management there are options for accelerating project completion. Please describe “Establish a Core Project Team” strategy. What would be some of the risks associated with such an approach?

Answer 1

Project management is a process of completing a set of activities associated with a task having specific start and end as well as with limited resources. Core Project team strategy might give an organization a different control over its regular activities. Generally management make a project team to accomplish specific goals of the organization. In a project team, people from different functional area will be deputed to give their expertise and contribution to active the set target under the control of a project manager. In this, the project team members will have to report to their original functional area. For example: Launching a new product might be taken as a project task and team members will have to contribute to the team to achieve this aim of the organization. It will have many challenges too.

The following are the specific risk associated with such an approach:

1. Many times regular work of an organization might be disturbed due to focus only to the new project task.
2. Many times people hire for project tasks and after the completion of the project work they might lose their job.
3. Challenges related to cost overrun and time overrun might be raised due to inadequate scheduling of the project.
4. Project task require huge investment on research and development so it might be an issue for an organization.
5. Employee’s welfare might be ignored.
6. Sometimes, a chaos and lack of coordination might be observed.
7. It requires strong leadership which might be temporally given to the project team and hence creates decision making challenges for the moment.