PROJ6000 Principles Of Project Management

Telstra Corporation is the largest telecommunication company in Australia

The company was  established 43years ago

The headquarter of the company is in Melbourne

In the year 2017 the revenue of the company was A$26 billion

The company is fully privatized right now Telstra also launched a unit in health business 

The PMI’s code of ethics addresses several areas in the project management like the respect, responsibility, culture, fairness and honesty in the Telstra corporation. 

 

Best actions are taken for particular situations, fulfilling requirements, report unethical behaviour is comes under the responsibilities.

 

Informed about culture, stakeholder listening, conflict addressing, not acting abusively, respect others property right is comes under the respect.

 

Impartial act, equal access information, avoid conflict, impartial rules is comes under the fairness policy.

 

Honesty is not encouraging dishonesty, seek truth, speak truth, and do not engaging the dishonesty.

 

Aware of cultural differences, respect cultures of different people is comes under the cultural of PMI ethics.

 

These must be adapt by Telstra To get benefitted and grow rapidly. 

Risk management is a process that is done by the project management. The whole process is divided into three parts:

 

Identification of risk

Analysing the risk

Responding to risk

 

These can be applied on both known and unknown risks. The risks in the project management can be affect the company as the company might get loss in revenue. PMI says that the companies are failing to manage the risks which increases the chances of bad impact on the project and the project might get fail. 

Scope

Scope defined clearly

Work is done within the scope

Scope creep is avoided

Specification change can be managed

 

Quality

product quality improved

Quality is defined

 

Cost

Cost Is Reduced

Proper cost estimation 

 

Time

 

Efficient time management

Time estimation done properly

 

Risk

 

Risks get less

Risks are analyzed

Risk mitigation plan included  

Telstra will become more competitive.

The results of Telstra will be more measured

Customer relationship improves

Supplier relationship improves

Staff relationship improves

Telstra will gain more reputation

Risks within the company will me mitigated

Telstra will be more efficient

From the previous slides it can be concluded that the Telstra Corporation get many advantages after adopting the guide of PMBOK. There are many benefits of adapting the project management. The company can grow rapidly by adapting these methods. It increase the efficiency of the company. The companies become more competitive in the market (Heagney, 2016). The project management book of knowledge improves the relation ship with the employees, customers, suppliers and with the partner. Reputation of Telstra Corporation will be improved more than earlier. The risks can be protected as the risk management is taken place.  

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Fundamentals of project management. Amacom.

 

Fleming, Q. W., & Koppelman, J. M. (2016, December). Earned value project management. Project Management Institute.

 

Ye, S. (2018). Implementation of Project Management System Based on Project Management. Information Engineering and Applied Computing, 1(1).

 

Svejvig, P., & Andersen, P. (2015). Rethinking project management: A structured literature review with a critical look at the brave new world. International Journal of Project Management, 33(2), 278-290.

 

Marchewka, J. T. (2014). Information technology project management. John Wiley & Sons. Leach, L. P. (2014).

 

Critical chain project management. Artech House.