Project organization
The project organization type for development of this motorcycle must meet the required standards. The best type of project organization for developing this class of motorcycles is the functional organizational structure. This project will be managed under the current structure of the organization. It will suit the development of this motorcycle project since the components of the project will be executed by the functional units of this organization. After kicking off the project operations, each unit of the organization will be managed each the project component assigned (Hayman, 2011). In order to manufacture motorcycles of over 1100cc, this company must assign the functional role of design to a specific department. In addition, senior managers will be responsible for the entire project. The senior most position will go to the project director. This position will be followed by department managers.
The first departmental manager will be the design manager. This manager will oversee the design of the motorcycle in order to attract individuals with incomes exceeding $ 55,000. Secondly, the manager for the marketing department will be crucial. He will be responsible for marketing the large touring motorcycles to the target customers. Finally, the testing manager will be included. The role, in this case, is to ensure that the requirements at the motorcycle design stage are met. The communication devices that must be used are the radio calls. They will allow for communication across the organizational structure. In addition, the communication system must remove any bureaucracy so that its effectiveness is improved (Hayman, 2011). The functional organizational structure would suit development of touring class motorcycles.
The step that follows is commercialization. The company must keep its motorbike distribution channel loaded. Through such efforts, the 35-60 age groups will be reached by the product. Finally, this company should undertake a post launch review. At this stage, efforts to ensure profitability is sustained are made (Meredith & Mantel, 2011). In addition, the company should differentiate the motorbike through new design and elements of performance. The rationale is that it will involve team work and hence the marketability and product success will be improved. In addition, it will improve productivity in motorcycle development since goals and contingencies will be outlined clearly.
Strategy to balance short and long term organizational needs
In order to balance the organizational needs, the senior executives for this organization should adopt the balanced scorecard strategy. This strategy will allow this company to link its long term strategy and its short term policies (Hill, 2013). The operational and management systems will be linked to short term policies in order to drive the long term needs. In manufacturing and selling the new motorcycle, the company will link its input controls and its long term goals of producing touring motorcycles. Therefore, the present costs will align with long term concerns for profitability. The vision of manufacturing the over 1100cc motorcycles will be clarified into the entire organization through effective communication and linkage. The employees will be sensitized on the benefits of the motorbike to the organization in terms of profitability and brand name.
The other step is that business planning will be intertwined with the communication and linkage. Targets of production units will be aligned with strategic objectives and milestones (Hill, 2013). Therefore, current needs to maximize production will be evaluated against long term needs for increased market presence and brand identity. To complete the scorecard, the feedback from customers will be applied in translating the vision of this company. As a result, current needs to meet customer needs will match with the future vision and strategic goals of the organization.
As a product manager, I would need several resources to manage the business during the changeover. The first resource is financial resources. Finance would enable me to acquire and compensate the other resources in the organization. In the changeover, extra financial resources would be required to maintain current business interests and expand into new operations (Tracy & Meyer, 2012). The other resource that I would require is labor. This would be the most important resource in the shift since it would control the other resources. These individuals should possess the required skills in order to allow for a smooth shift into the new system (Hill, 2013). For instance, technicians must possess the requisite skills for manufacturing the touring motorbikes.
Thirdly, equipment would be needed. This may comprise of monitoring and quality evaluation devices. All the manufacturing processes must be monitored, standardized and evaluated through equipment (Tracy & Meyer, 2012). Aspects of quality will comprise ensuring that all parts of the touring motorbikes are tight, and they meet industrial standards. Manufacturing materials would be needed in executing the actual manufacturing. These materials will include wheels, metal parts, and electronic gadgets such as speedometers.
Project management style
The most conducive project management style for this growth plan is the relationship management style. This style will involve the building of rapport with all the team members (Meredith & Mantel, 2011). The project manager for these 1100cc motorbikes will encourage and motivate team members to bond well with each other. Therefore, they will work as a team and focus on the organizational goals. This style will be conducive by promoting productivity and hence the growth of the impact of this project. The project manager will ensure that he remains social and free with his team members. In order to achieve this interest from team members, the project manager must go beyond business relations with team members.
The team manager must make efforts to address any personal or family issues with his team members (Meredith & Mantel, 2011). This illustrates relationship management. This style of management will promote a positive attitude of team members towards the project. Such a conducive environment in project execution will promote project success and sustainability. This is because team members will have the motivation and drive to achieve success for their company. For these motorbikes, having such a positive attitude from the side of employees will ensure that they are manufactured to meet customer expectations. The business growth plan will be achieved through achievement of motorbike production goals.
Risk mitigation strategies
In determining the risk mitigation strategies, the company will be developing business options aimed at enhancing opportunities and also reducing any threats for this motorcycle project. These risk mitigation plans are aligned with probability of occurrence of some events that may hinder the motorcycle project. In addition, the severity of such events is a main determiner of the plan to be adopted. The first risk mitigation strategy is risk control. In this strategy, the company will attempt to implement some policies aimed at minimizing the impact of the risk or its likelihood (Hayman, 2011). In risk control, this company will begin with a risk assessment. Through the assessment, this company will identify all potential risks that will jeopardize its operations. Technical, non technical and financial policies affecting the firm will be evaluated. Aspects of production such as equipment failure or illiquidity will be critical concerns for manufacturing the motorbikes (Hayman, 2011).
The other element that risk control will involve will be implementation of policies. After determining the potential risk aspects that may affect this company, there will be a need to determine how they may be reduced. The company will have accepted that the risk is real, and it should be dealt with through some specific measures. Implementation will be done through some efforts to reduce the risk of the hazardous events (Tracy & Meyer, 2012). An example is purchasing a power generator to deal with the technical challenge of loss of power in manufacturing.
The other risk mitigation strategy is risk transfer. In this case, the company will reassign its responsibility, accountability and authority to another willing party (Hayman, 2011). That party will be responsible for the loss in the event that the hazardous event occurs. In motorbike manufacturing, the company can use insurance to transfer some of its risks. An example of an insurable risk in manufacturing the 1100cc motorbikes is the risk of fire. If there is fire in the manufacturing section, there will be a risk of loss of materials, equipment and damage to the building. Therefore, this company should transfer such a risk to an insurer. This risk mitigation strategy will reduce the amount of financial loss to the company. Compensation will recover the lost assets.
The third risk mitigation strategy is risk monitoring. Through this strategy, the company will watch the business environment determine whether there are changes that have a potential effect on the risk impact (Tracy & Meyer, 2012). This company can engage in monitoring whether there are any manufacturing trends such as the risk of theft. If insecurity increases, the company may lose some of its assets through theft. With monitoring, strategies to minimize the effect of such a risk may be executed. This selection is justified in terms of the potential effectiveness of these strategies. Each of these strategies has the potential to decrease the loss when manufacturing the motorbikes. In addition, each of the strategies is a response to these risks; rather than doing nothing about the risks.
References
Hayman, C. (2011). Types of Project Management in Organizations. Wall Street Journal, 44-48.
Hill, E. (2013). Product Development Process. The Businessweek, 51-56.
Meredith, J. R., & Mantel, S. J. (2011). Project Management: A Managerial Approach. New Jersey: John Wiley & Sons.
Tracy, A., & Meyer, D. (2012). Successful Project Management. The Journal of Finance, 78-83.
