Technology Pproject Management AMP

Question: Discuss about the Technology Pproject Management AMP. Answer: Introduction AMP is one of the largest invest management and insurance group in Australia. In was formed in 1849 as the Australian Mutual Provident Society, mutual society and non-profit insurance company. The company deals with products like insurance, banking services, and financial advice. Through its AMP Financial services division represented by more than 2,000 individuals dealing with company financial offerings like superannuation products and banking. Investment management to AFS is provided by the AMP Capital Investor and to other institutional Investor and individual. The company also provides retail financial service under Arrive Wealth Management brand and Hillcross The company was denaturalized in the year 1998 and was listed on the stock exchange market of Australia and New Zealand as the company with the highest number of registered stakeholders in Australia, with the majority of the shareholders living in this, two countries. All policyholders of the new company received shares after the company had demutualized (Blainey, 1999). The market in Australia is not a monopoly, and AMP gets completion from National Australia Bank LTD, AMP AAPH LTD, and Australia and New Zealand Banking group LTD. The company operates in the same market; therefore, they make their strategies to attack their customers. Objective The purpose of this report is to explain the important method and techniques used in the information system of AMP for design and analysis. It also analyses on the method and approaches used by the company to implement and to manage their project. Time management by AMP According to Turner (2014), there is competition in the market and AMP must schedule their time so that they can Understand what they can obtain with their time Make sure that there is time allocated for an important task There is time spared for the unexpected task To avoid overloading a department by assigning the task they cannot manage For the company to work steadily in achieving their set goals. When time is managed well, the AMP will be effective, and the level of stress to the workers will be reduced. They will also gain the market by posting proper completion to their competitors. For the time to be managed well the company must consider doing the following: Identifying available time Blocking in the important tasks that must be done for the job to be successful Arranging tasks with the order of priority Reserving time to handle interruption and unpredictable events Scheduling activities that are of the interest of the company's goals in the limited time remaining Checking the activities to come up with the task that can be outsourced, delegated or cut altogether. The work breakdown structure for AMP The work breakdown structure is the activity that must be done to produce the product. It is represented as a hierarchical subdivision of a project into work areas with the lowest frequently being an activity or a work package. At the creation of the WBS, the lowest level should always be consistent and agreed at. This lowest level is the key in providing the foundation of all project management work, including the estimation of the cost and the effort, scheduling, planning and allocation of resources (Schwalbe, 2015). It is important for AMP to create WBS because: The total scope of work can be defined WBS will enable the allocator to assign the work to those with the capability to perform the said task The baseline control can be established After the accomplishment of the task, and the WBS can be used to measure the accomplishment objectivity. The system enables collection and reports information at the appropriate level required The relationship between work, cost, and organization is defined by the WBS. The WBS of the AMP Level 1 Level 2 Level 3 1.0 AMP project 1.1 Initiation 1.1.1 Recommendation and assessments 1.1.2 Project charter is develop 1.1.3 The project charter is submitted 1.1.4 The management reviews the project charter 1.1.5 When the project is sign and approved 1.2 Planning 1.2.1 Preliminary scope statement is created 1.2.2 The team working on the project is determined 1.2.3 The selected team schedule meeting 1.2.4 Project plan is develop 1.2.5 The developed plan is submitted to the CEO 1.2.6 The submitted plan is approved Milestone 1.3 Execution 1.3.1 The project is started 1.3.2 The items required are verified and validated. 1.3.3 The system to be used in the project is designed. 1.3.4 The item to be used are purchased 1.3.5 The project is put in place 1.3.6 Testing is done 1.3.7 The users are trained 1.4 Control 1.4.1 There is management of the project 1.4.2 The project status meeting is scheduled 1.4.3 Management of risk 1.4.4 The project management plan is updated 1.5 Closeout 1.5.1 Procurement is audited 1.5.2 File Lessons Learned 1.5.3Rrecords are updated 1.5.4 Formal acceptance is gained 1.5.5 Documents Findings The company does not motivate their employees by giving the best employees award and promotions. This led to low morale towards the end of the project. The procurement officer did not fully engage in the contract leading to insufficient materials during implementation stage The number of stakeholders increased as the project developed yet the procurement officer did not allocate the budget for the increasing number of stakeholders. Quality management was catered for by the quality manager of AMP because the company ensured that only qualified personnel entered their project, therefore, offering quality services to the clients hence creating good relationship The SWOT analysis of the company identified the risk in competition from industries offering the same service, and good measures were put in place Conclusion The project management of AMP was successful due to proper management of the manager and the use of WBS to clearly illustrate the tasks and the person to be assigned the task. This brought up good coordination, and the task was done in time (Turner, 2014). Recommendations The procurement manager should engage in all contract process to ensure everything is in order The employees should be motivated by being given awards when they have worked well Quality must and time allowance must be planned in the project so as to avoid time delay. Before a project is started, the company must perform a SWOT analysis to determine the weakness of the competitors and the strength of the firm so that they can engage in the relevant project. References Blainey, G. (1999). A History of the AMP 1848-1998. Allen Unwin. Schwalbe, K. (2015). Information technology project management. Cengage Learning. Turner, J. R. (2014). The handbook of project-based management (Vol. 92). New York, NY: McGraw-hill.