Value of Project Management
Value of Project Management
In the pursuit for effectively managing complex IT projects in a competitive wireless industry, the value of project management to Verizon enhances the brand identity through strategic management. The Verizon Wireless Corporation is the nation’s most dependable and reliable wireless network with the largest retail customers in the industry. The Verizon Wireless internal and external demographic is their customer base at 67. 2 million, fulltime employees at 69,000, and the annual revenue at $43. 9 billion. The success of Verizon Wireless offered the opportunity to have a joint-venture with Vodafone to expand the network and available services.
Therefore, the need for a project management protocol for successful strategic measures empowered the Verizon stakeholder planned initiatives. The role of strategic planning to the Verizon organization is the proactive activity for R&D strategies emphasizing the importance of technology and product-market decisions. The value of project management enhances the objectives of the strategic planning initiatives set forth to accomplishing the corporation goals. The strategy implementation from stakeholders offers the benefit to instill a direct assessment of strengths and weaknesses in the corporation (Hunger and Wheelen, 2007).
Therefore, the utilization of strategic planning reinforces the primary outliers identified in the initial strategy assessment. The strategic planning provided the R&D initiatives for new IT technology to make consumers wireless experience more efficient. The project management technical aspects offer the means to identify what tasks are needed to be delivered within the set timeframe and budget. The value of project management benefits Verizon Wireless to performing the necessary application, in which, to significantly improve the consistency of outcomes resembled what the organization anticipated.
Furthermore, the emphasis on project management for Verizon is the security for adapting to the complex needs of an IT special project. The value of project management provided the integral parts necessary in the desired deliverable for a new updated LG Voyager phone. The project management satisfied the many and variety of tasks that meet specific and unique characteristics for manufacturing, sales, and marketing initiatives for a new phone with advanced technical capabilities.
The project management value is managing each specific task and uniqueness with a specific deliverable that is aimed at meeting a specific need or purpose. The value of project management created the success of a temporary endeavor undertaken for the strategic planning of an updated product. Verizon Wireless success is the creativity and technology advancement to staying competitive in the market, in which, the strategic planning for utilizing project management methodology successfully organizes the project activities.
These activities are in-depth and several departments in the organization assist the project management team by providing resources for a successful delivery of deliverables. Therefore, the true value comes into play when the market demand for newer technology drives the need for an updated product roll-out that the project management activities are required within the organization’s normal operational limits (PMBOK, 2004). The role of strategic planning structured the tasks centrally on improving the current state in the demanding market, customer brand identity and brand equity for Verizon Wireless.
The strategic planning implementation empowers the principles of project management to provide value in each required tasks. Therefore, the strategic planning for manufacturing the advanced technology phone answers the market demand identified in R&D at Verizon Wireless – that presents the project management framework in accomplishing the management approach. The Verizon Wireless strategic planning is an ongoing measure that continues the identification on certain initiatives needed in enhancing projects objectives.
The overall concern for a successful strategic planning is the support from stakeholders at Verizon Wireless that coordinate with the project management team. The cooperative strategies are the means for gaining competitive advantages within the industry by all teams working together. The primary type of cooperative strategy is the strategic alliance, in which, the core objectives are mutually achieved and beneficial. Moreover, the project management value to the company Verizon created a synergy of resources within the organization that incorporated all skills and talents for a productive product deliverable.
The alliance of the R&D divisions with other departments intensified the strength of Verizon Wireless as well as limits the identified weaknesses to manufacture a new advanced cell phone. The Verizon Wireless R&D intensity is a principal means of gaining the market share in a domestic and global competitive market share. Respectively, the R&D business unit at Verizon exposed the technological competence and technology transfer to assure a successful capability to the strategic planning of innovation (Mantel, Meredith, Shafer, and Sutton, 2008).
The underlying value of project management continuity of deliverables within a complex IT environment reinforces the Verizon Wireless strategic planning. The constant changing of consumers needs and desires for a productive, easy-friendly, and with many options product strengthen the notion for Verizon Wireless to apply a direct approach to the project. The strategic planning fundamental role is in securing the core aspects for infusing the company’s advantages into the market through project management for securing brand identity and brand equity.
University/College: University of Arkansas System
Type of paper: Thesis/Dissertation Chapter
Date: 7 November 2016
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