MBA professionals should see in advance all the aspects of a project from the available data for protecting the increase in budget. The top five goals that are associated with the management of a project are described as follows. if the following five goals are achieved an MBA Graduate can meet success in the project.
First Goal – Finishing the Project in Time
Finishing the tasks in the stipulated time frame is the primary concern for any project. Most of the time the requirements changes and keeping up with the preliminary schedule will be difficult. For finishing the project before the deadline the scope and variance need to be customized within the limits. By properly managing the changes for actual progress and planned progress this can be obtained. Deviations in the planned progress should be regularly monitored at every stage of the project by MBA professionals.
Second Goal – Finishing the Project under Budget
A project budget needs to be set at first against which the various costs involved need to be compared. Whether the cost is involved with man or machine or materials it needs to be tracked using the budget control. After making the initial plan how much money need to be put into each task need to be calculated. If there is any overspending on some tasks other tasks will lack money. So by properly controlling the spending
Third Goal – Meeting the Requirements
Whatever may be the nature of requirement for the project the solution to the problem needs to be available after the completion of the project. Sometimes the tasks will pile up and there will be a huge amount of working hours for small projects which can result in the loss of profit for the organizations. Because of this, the requirement needs to be stipulated first before starting the project.
Fourth Goal – Keeping the Customers Happy
If the expectations of the customers have not reached even after meeting the requirements and the project is completed in time future projects will not be given by the customer. Keeping the customers informed about the progress of the project on a regular basis is essential for MBA professionals to make the customers happy. Accepting the new ideas that may arise during the project developers need to be taken into account while the deadline for the project needs to be met. When there is more change needed and unable to complete the project in time it will be difficult to please them after that.
Fifth Goal – Keeping the Team Members Happy
If the team members are happy with the project then the MBA professionals in a managerial position will be able to take up the next one in time. So satisfaction of the staff is important for any organization. Rewarding an appreciating the team members occasionally will be good for building a motivated team for future.