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Objectives of project risk management
Features of the balanced scorecard
Objectives of project risk management
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I designed implemented at the Veterans Affairs as the Director of Vendor Management a balance scorecard with four quadrants for 1) internal processes, 2) customer service, 3) financial metrics, 4) and learning development. Sharing individual experiences with stakeholders is an effective leadership method to reduce organizational resistance and gain stakeholders trust. Key performance metrics provides a tool for problem identification and remediation of project risks throughout the life cycle of a project. My model identified the increased failure rate of IT investments suggests a systemic weakness of federal agencies project managers’ ability to use project management methodologies, investment frameworks, and IT governance models effectively
The United States has the most comprehensive system and programs of assistance for Veterans of any nation in the world. The first domiciliary, a residential home for Veterans was authorized by the Federal Government in 1811. After the Civil War, President Lincoln made a promise to care for widows, orphans and injured soldiers; many State veterans homes were established to care for indigent and disabled veterans. When the United States entered World War I in 1917, Congress established a new system of Veterans’ benefits, including the addition of disability compensation and vocational rehabilitation. In the 1920s, the ever-increasing benefits were administered by three different Federal agencies: the Bureau of Pensions of the Interior Department, the Veterans Bureau, and the National Home for Disabled Volunteer Soldiers. The establishment of the Veterans Administration came in 1930 when Congress authorized President Herbert Hoover to consolidate the programs for Veterans into one government bureau. The Veterans Administration took over the responsibility of the National Cemetery System from the Department of the Army in 1973, but in 1989, President Bush established the Department of Veteran Affairs as a Cabinet-level position. President Bush was quoted as saying; "There is only one place for the veterans of America, in the Cabinet Room, at the table with the President of the United States of America." (United States Department of Veteran Affairs, 2010)
The Department of Veteran Affairs (DVA) is a public organization that is government provided. The organization funding is produce through taxes. The executive branch of the agency is located in Washington DC and is headed by Secretary of Veteran Affairs. There are Veteran Affairs Offices located in all 50 states, including American Samoa, District of Columbia, Guam, North Marianas Islands, Puerto Rico, and Virgin Islands. It ranks number two in the United States federal department with over 200,000 employees.
When a soldier enlists in the United States military they make a promise to serve and protect our nation, putting their lives at risk to help keep America safe. Sadly when they finish their service they unknowingly enlist themselves in another war: to receive proper health care from VA. Things like long waiting times, understaffed facilities, and few care options for veterans in rural areas are just the beginning of the problems plaguing VA health care. Horrifying issues that are killing our veteran are beginning to surface such as employees falsifying records, outdated facilities spreading diseases, and patient neglect; all while key VA officials continue to scramble to cover things up. Our government must intervene quickly to fix the growing problems with VA health care so our veterans receive the care they were promised and should be receiving.
Soldiers, both men and women, risk their lives fighting for our country and when they come home they receive far fewer benefits than would be expected. Throughout history the support for veterans has lessened. The amount of money that is provided to veterans for healthcare and housing after returning to the states has severely decreased since WWI.
One of the most serious problems facing all veterans today is the lack of proper healthcare. Soldiers, sailors and airmen are leaving active duty without having proper healthcare to cover their physical or mental injuries. The department responsible for veteran’s healthcare is the Department of Veterans Affairs. (VA) According to The department of Veterans Affairs website, “The United States Department of Veterans Affairs (VA) is a government-run military veteran benefit system with Cabinet-level status. It is responsible for administering programs of veterans’ benefits for veterans, their families, and survivors. The benefits provided include disability compensation, pension, education, home loans, life insurance, vocational rehabilitation, survivors’ benefits, medical benefits and burial benefits. It is administered by the United States Secretary of Veterans Affairs.” The VA, who was formerly called the Veterans Administration, was established 21 July 1930, to consolidate and coordinate government activities affecting war veterans. The VA encompassed the functions of the former U.S. Veterans' Bureau, the Bureau of Pensions of the Interior Department and the National Home for Disabled Volunteer Soldiers. On 25 October 1988, President Ronald Reagan signed legislation creating a new federal Cabinet-level Department of Veterans Affairs to replace the Veterans Administration effective 15 March 1989 (V.A.)
Projects are widely used by many organizations and government institutions in the course of conducting their business. One of the reasons for this is because they have been proven to be effective in initiating change and translating strategic programs into daily activities. However, it has been established that most projects fail to deliver on time, budget, and customer specifications. In most cases, this failure is caused by over-optimism by the project management team. This over-optimism commonly referred to as optimism bias can simply be defined as overestimating the projects benefits and conversely underestimating its cost and duration time. Research have portrayed that this is often caused by failure to properly identify, understand, and manage effectively the risk associated with the project therefore putting its success at jeopardy(Mott McDonald, 2002). Fortunately, this biasness can be detected and minimized during the project gateway process.
After reading the article in CQ Researcher related to veterans health care, answer the following questions:
The VA (Veterans Affair) Health Care System is one of the largest, most advanced health care networks in the U.S. The VA Health Care System is the provider for veterans, retirees and their dependents and manages all their health care. The VA Health Care is actually one part of the Department of Veterans Affairs. There is also VA Benefits Administration which has to do with compensations and pensions. Then the other part of the VA is the National Cemetery Administration which is in charge of the cemeteries and providing burial and memorial benefits. All these parts make up the Department of Veterans Affairs. (VA History)
Sharma, D., Stone, M., & Ekinci, Y. (2009). IT governance and project management: A qualitative study. Journal of Database Marketing & Customer Strategy Management, 16(1), 29-50.
Achieving the anticipated outcome of cost, time, and quality are traditionally what determines the success or failure of a project (Chipulu et al., 2014). Project success is dependent on the support of senior management, but their involvement in projects and understanding of project management methodologies is perceived to be inadequate by project managers (Ancosky, 2013) or lack of proper governance makes them ineffective (Young & Poon, 2013).
Project managers must possess the ability to use sound judgment based on the facts available to them, past experiences, and knowledge of current events to make effective decisions. Often, the success of project managers is based upon the outcomes of the decisions they did or did not make. As such, conducting performance assessments, during project implementation and after project completion, enables project managers and project stakeholders to accurately evaluate the success of the project. Projects are innately complex and multifaceted; therefore, project successes are difficult to measure and ascertain. “Based on an extensive review of the project success literature … a clear definition of project success does not exist and there is a need to develop meaningful and measurable constructs of project success” (Mir & Pinnington, 2014, p. 203).
...g the project as performance measurement. A senior management team that does not let known about the importance of the balanced scorecard to the employees of the company sends the message that this is not a high priority. Employees viewing the balanced scorecard as a low priority does not communicate the importance of the balanced scorecard to the rest of the company send the message that this is not a high importance. Hence, this will backfires the strategy implementation due to the lack of senior management commitment.
Seymour, T., & Hussein, S. (2014). The history of project management. International Journal of Management & Information Systems (IJMIS), 18(4), 233. doi:10.19030/ijmis.v18i4.8820
Program management and application portfolio management are two essential concepts that CTO’s and IT professionals must understand to help ensure future success as it presents a significant challenge that requires the commitment of considerable organizational resources. A large number of IT organizations are taking on large complex efforts that combine the delivery of IT solutions, new and changed business models, as well as overall changes to organizational structure and capabilities. These efforts typically involve several projects running in parallel, and managers are finding that "traditional" project management approaches fall short for such undertakings.
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.