The purpose of the paper is to identify the critical evaluation of a real-world project. The study aims to examine various factors and criteria’s that lead to the success or failure of a project. Therefore, studying a real-world scenario would help in the identification of the challenges and advantages behind a project’s success or failure. The success or failure of a project is judged differently by the people based on their criteria and purposes(Ajmal,Heloand Kekäle,2010). But the bright idea of the need and expectations of a plan helps to interpret its success.(Allen et al.,2014). It is evident that a project is successful when it can meet the budget and delivery time and its success may be measured by the response to the actual use of the project over time(Bell, 2010).
The study focuses on the way to improve Flowserve Corporation’s strategies related to project management to get rid of the factors that were leading the organisation to a path of failure. By efficient project management and evaluation of the criteria, the company could execute its leading projects into a successful one. The PR Online Assurance Program is a very innovative technology service introduced by The Flowserve Corporation(Flowserve, 2018). This paper aims to understand the impact of the PR Online Assurance Program in the formation of the criteria in which is responsible for the success story of the company making it a global supplier of the pump system.
Background of the Company and Project Case
The Flowserve Corporation is an American multinational company which supply environmental and industrial machinery such as pumps, seals, valves, actuation and instrumentation etc(Flowserve, 2018). Along with that, the company provides service to oil, gas, chemical power and other industries. The companies headquarter in Texas. The company is having more than 19,000 employees and has its presence across 55 countries. In addition to that, the company sells products and provide aftermarket services to the construction and engineering sectors. The company comprises of 48 fluid control and motion product. Being a large manufacturer, the company wanted to improve its decision-making process and wanted to extend its line of product and product growth. Most of the project of Flowserve Corporation was not doing well in the market, and the company was struggling with several activities such as cost control, labour productivity and project tracking process.
The company has implemented several strategies with resource and portfolio management and became more successful in delivering the product in the market more quickly(Flowserve, 2018). The company used an automated gate review method, and with that, it can manage the time and work along with the mitigation in launch hindrances. The efficient cost control by the company allows them to measure the success more efficiently. The company has a talented pool of employees and project managers who play a crucial role to make the existing and upcoming project successful.Tosin et al. (2014) stated thatFlowserve Corporation offersa wide range of pumping system that meets the customers demand and provides a solution to most of the arduous services. It has a team of highly specialised skilled engineer force which gives the customers access to the portfolio of proven hydraulic along with explaining them the mechanical know-how of the products. Flowserve’s valves are used in the world’s most robust industries. The valves are extremely useful as they can tolerate high temperature, erosion, corrosion and ultra-high pressure.
The PR Online Assurance Program of Flowserve Corporation is a very innovative technological solution provided by the company which is responsible for the company’s project success(Flowserve, 2018). The system makes it easier for the plant operator to acquire the data from the pump and another component via its control system and sensor-based monitoring system to diagnose the early stages problem in the project with the avoidance of future expense. The advanced algorithms in the system make it possible for the engineers to analyse the data for the diagnosis of additional problems in the system. More so the detected problems in PR emulator pump warns the plant personnel about the current and developing challenges in the project(Flowserve, 2018). However, the company is struggling with a few issues that include a delay in some client’s construction project, and the pumps were stored on-site for more than five years, and the storage condition was unknown. Therefore a number of problems in the pump rose because of its extended storage before the installation phase. Their issues were related to minor start-up problems which were not entirely resolved by the company by the customer’s deadline(Flowserve, 2018). The customers tried to address the challenges and became unsatisfied with the company’s service.
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Standard Criteria for the success of the Project
It has been observed that smart companies are always for examples of successful project management to learn how successful companies are achieving their goal and objectives for project management. The real world example of Flowserve Corporation related to resource and work management solution helps to connect the strategies with project execution. The companies tackle the project management process in order to make a balance between their resources and delivery value(Alias et al., 2014). Flowserve Corporation mostly followed some standard base that includes optimisation of system efficiencies, maximisation of productivity, reduction or elimination of downtime, minimisation of maintenance cost,execution of timely implemented upgrades, matching the project delivery report with minimum investment, meeting the project execution within the allocated budget and so on. Along with that the company use the advanced technology and cooperate with the industry and product expert to proactively manage every facet of project life cycle cost(Lech, 2013). In doing so, the company make sure that the customers can look beyond the traditionalequipment.
The Flowserve Corporation is successful in making a value-based relationship with the customers that is another strong reason behind the success of its projects(Allen et al.,2014). The primary objective of the projectmanager is to deliver the project within the stated time and defined budget. However, that is not the only parameter to evaluate the successcriteria of the projects. In addition to that, the project managers and the people involved in the project need to work closely with the customers to ensure that the project deliverables meet the customer’s expectations(McLeod,Doolinand MacDonell, 2012). Various parameters help to measure the project success criteria.The performance indicator of project success criteriaof a company is demonstrated in Table 1 below:
|Project Success Criteria|
Table 1: Project Success Criteria of a Company
Critical Justification of the Project Success Criteria
Project managers evaluate the project success criteria for understanding the reasons that act as barriers in the success of a project and make it a failure(Müllerand Jugdev,2012). This will enhance the chances of a project becoming successful and can meet customers’ expectations. The project managers ask for customer’s feedback to understand the mistakes that have been associated with a project. According to Davis (2014), new ideas and innovation play crucial roles to make a product better that could meet project objective instead of sticking to the original plans. Several factors act as contributors to a successful project. The elements can be classified in several groups such as project team, scope and timeline of a project, the type of organisation, project manager and external environment.
The project team should be enriched with a variety of skills and experience. The project’s success can easily be accomplished by a project team with proper guidance of Project manager. The project success criteria are not limited to the facts that are discussed in Table 1. Some of the supporting factors are further needed to be considered for a successful project execution that includes a feasible project plan, assigning a task to team members, managing project risks, allocation of time for process improvement, review of each step in a project, development of a plan for the achievement of the joint task (Nixon,Harringtonand Parker, 2012). Nevertheless, one of the significant problemsfor defining project success can be understood from the iron triangle model by considering three main constraints such as time, budget and scope(Ebbesenand Hope,2013). These constraints affect the delivery process of a project. The project managers sometimes overlook the benefit of a project and ignore whether the clients are happy or not.
Critical Analysis of the Case based on the Chosen Criteria
Pump making companies maximise the equipment performance and plant throughput by the utilisation of ebullated bed hydrocracking process. The world-class refinery and pump manufacturing companies are experiencing massive challenges with their ebullated bed system in a brief period of time after product selling which followed incurring huge expenditure and loss(Flowserve, 2018). The problem was mostly occurring as the companies were operating the refinery process using the unspared pump. Even the upsets sometimes were observed in less than sixty days of downtime which was absolutely unplanned and caused significant production loss for the company. To provide a solution to that and examining the requirement of the clients Flowserve offers a wide range of pump system. The company is the biggest supplier of pumps to the gas and oil industry(Flow serve, 2018). In recent years the company has turned out to be a global supplier of pump system with the ability to penetrate new geographical markets.
The most important reason behind this significant success of the company is that it introduced and developed PR online assurance program that includes 24*7 monitoring services of the reactor of the recycled pump system(Flow serve, 2018). This unique service offered by the company helped it to gain competitive advantages in the market which is responsible for the success of its project evaluation. The PR Online Assurance Program of Flow serve Corporation measures equipment performance of the machinery along with advanced and expert diagnostic(Flowserve, 2018).This innovative project makes it possible for the plant operator to detect the systems issues at the early stage to take the corrective and preventive measures for the optimisation of the ebullated bed process. In addition to that, the system involves diagnosis and data acquisition of the current project. The company’s specific team visit the project site to measure the customer’s feedbacks on a routine basis.
Summing up the above discussion it can be concluded that Flow serve Corporation is a successful global company and can deliver its project successfully with its PR online assurance program. It can be understood from the research that the only reason Flow serve Corporation is so successful in its pump system projects is because of its capacity to look beyond the traditional product and service solution that differentiate it from the rest of the competitors in the market. In addition to that, the paper presents the criteria and factors that are responsible for the success and failure of a project. The critical analysis of the real-world example enhances the knowledge of why some organisations are incredibly successful in delivering the project in the market while other are not.Finally, it can be concluded that the project managers ensure the success of the business by meeting the business objectives within allocated time and budget generating customer’s satisfaction.
To overcome the existing issues related to the pump start-up issues the company can re-strengthen its relationship with the customers so that Flow serve specialist team can visit the site to ensure that the pumps are in a proper storage condition. Along with that the engineers and the pump operators must explain the technical features of the products so that the customers can resolve the issues by themselves. The company can further improve its PR Online Assurance Program so improve the technical features of the software so that its projects become more successful with timely delivery within the allocated budget. By evaluating the performance and condition of the equipment and machinery the company can improve the efficiency of the operation. The company can improve the reliability of its equipment for the reduction of maintenance cost to minimise the total cost of ownership. Furthermore, the company can focus on safety approach to prevent the accidents of the customers and employees from strengthening its project success criteria. However, focusing on client satisfaction and benefits are considered to be a significant factor for the project’s success.
Author Bio:- This Critical Analysis is done by Mark Edmonds,Who is an Academic Writer , Work at Assignment Writing Service Company, which provide best quality Assignment Writing Service,Case Study Analysis Online,Critical Analysis,Reflective Assignment Writing Service ,Dissertation Writing Service,Thesis Writing Service ,Report Writing Service,Essay Writing Service in affordable price.
Ajmal, M., Helo, P. and Kekäle, T., (2010). Critical factors for knowledge management in project business. Journal of knowledge management, 14(1), pp.156-168.
Alias, Z., Zawawi, E.M.A., Yusof, K. and Aris, N.M., (2014). Determining critical success factors of project management practice: A conceptual framework. Procedia-Social and Behavioral Sciences, 153, pp.61-69.
Allen, M., Alleyne, D., Farmer, C., McRae, A. and Turner, C., (2014). A framework for project success. Journal of Information Technology and Economic Development, 5(2), p.1.
Bell, S., (2010). Project-based learning for the 21st century: Skills for the future. The Clearing House, 83(2), pp.39-43.
Davis, K., (2014). Different stakeholder groups and their perceptions of project success. International journal of project management, 32(2), pp.189-201.
Ebbesen, J.B. and Hope, A., (2013). Re-imagining the iron triangle: embedding sustainability into project constraints. PM World Journal, 2(III).
Flowserve (2018). Flowserve Corporation | Home. [online] Flowserve.com. Available at: https://www.flowserve.com/en [Accessed 13 Apr. 2019].
Lech, P., (2013). Time, budget, and functionality?—IT project success criteria revised. Information Systems Management, 30(3), pp.263-275.
McLeod, L., Doolin, B. and MacDonell, S.G., (2012). A perspective‐based understanding of project success. Project Management Journal, 43(5), pp.68-86.
Müller, R. and Jugdev, K., (2012). Critical success factors in projects: Pinto, Slevin, and Prescott–the elucidation of project success. International Journal of Managing Projects in Business, 5(4), pp.757-775.
Nixon, P., Harrington, M. and Parker, D., (2012). Leadership performance is significant to project success or failure: a critical analysis. International Journal of productivity and performance management, 61(2), pp.204-216.
Tosin, S., Friedrichs, J., Farooqi, R. and Dreiss, A., (2014), August. New approach for multi-rotor mixed-flow pump design and optimization. In ASME 2014 4th Joint US-European Fluids Engineering Division Summer Meeting collocated with the ASME 2014 12th International Conference on Nanochannels, Microchannels, and Minichannels (pp. V01AT02A007-V01AT02A007). American Society of Mechanical Engineers.
Jeff Bezos and his Wife MacKenzie is divorcing after 25 years of their marriage. Mackenzie was reportedly the first employee of Amazon. Last year Jeff was declared the world’s richest man with a net worth of $112 billions, replacing Bill Gates with a net worth of $90 billions.
World’s richest man Jeff with a net worth of $137 billion according to Bloomberg declared his divorce on Twitter on Wednesday. Jeff posted that they wanted to update public on a recent development in their lives and as their family and their close friends know that after a long period of loving exploration and trial separation both Jeff and MacKenzie have decided to divorce mutually and continue their shared lives as friends.
The 48 years old MacKenzie Bezos is a novelist and an author, who has authored The Testing of Luther Albright in 2005 and Traps in 2013
The split is thought to be going to be one of the most costly separations in the history even if the couple doesn’t divide their money or worth equally. Though there has been no evidence that the couple has any prenuptial agreement on dividing the accumulated wealth equally.
Bezos met his wife for the first time in New York while interviewing her for the profile of a research job in a hedge fund where he was the vice president. Mackenzie also said that she had an office adjacent to Jeff and could hear him laugh all day long and how could not she fall in love with such laughter.
Three months after dating they reportedly got engaged and eventually got married around in 1993 when they left their jobs and moved to Seattle where Jeff founded Amazon which was initially a online bookstore.
In these twenty five years of marriage they have been parents to four wonderful children amongst whom there are three sons and one daughter who was adopted from China.
Last year they have launched a charity project together the Day One fund which aims to fund and help the homeless families by building pre schools in low income communities.
In a press release the couple said that they had an incredible twenty five years of marriage and if they had known that they would separate then they would love to live those twenty five years all over again.
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A proposal is a scheduled plan to execute a project. Proposal must be made before planning a project and only after that a project can be executed properly. A proposal mainly aims at including all the helpful information regarding the project’s goals and objectives. A proposal is the seed from which a successful project eventually takes place. The requirement of content and format of the proposal can differ from one client to another irrespective of their study and findings based on the research. Some provide their own application forms that are to be filled anyway and others might request for an online submission of proposals and others accept a proposal in any format in case it accumulates the necessary key information. So writing a good proposal includes the following steps-
- Project title page: A title page should indicate the project title, or the name of the organization for which the project is made or the name of the topic on which the project is being made or the name of the client to whom the proposal is being addressed. So a suitable title is a necessary element for a proposal as it indicates what the project content is all about.
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- Introduction: This step includes a broad scenario of a company profile, history, success story and other factors that help in overall organizational development.
- Literature review: It includes writing an overview of the company derivative and how this project will work on to meet the overall strategic objective of the company. Also, the deliverables that may be the goods or service and that will be completed and produced in the project, are to be included in the project matter.
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- Research methodology: This step deals with the methods that are generally used to carry out a research for the proposed project.
- Evaluation of the study: The project proposal should indicate how and when the project management team will conduct activities to monitor the project’s progression and also which methods will be used to monitor and evaluate and in which way the evaluation could be done.
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A dissertation which is a final year project differs from the other forms of assessments. The word dissertation comes from a Latin word ‘dissertare’ which means to debate. The dissertation is like a substantial paper that is typically based on the original research which reflects the student’s mastery of her own specialised subject as well as of scholarly method. In a dissertation, the knowledge of the writer about his or her subject is echoed. A dissertation shows the key facts and the different points of view in it. An advanced point of view is also generated from the original research.
Writing a dissertation or a thesis is an intimidating prospect, which is feared by many candidates of the Bachelors, Masters or PhD. It is a humongous task to put together and preserve such a long piece like a dissertation. But following some simple and easy steps can be of great help in the writing of the dissertations.
- The basic part of dissertation writing which is also the most important part is the ideas that form that underpinned the whole exercise. So, a proper theoretical framework of the project is very necessary before the beginning of the project. Jotting down of the thoughts, ideas and concepts onto a paper is very essential as it helps in the proper planning of the procedures and steps that are to be followed step by step. Detailed and fruitful conversations with the colleagues and the guides with proper and honest feedback add more to the development of the dissertation.The next step is the proposal. A proposal is a document that has a detailed account of the plan which a student needs to submit to his or her adviser. The proposal aims at two things- the first is that it serves as a framework that assists in the planning and critical thinking about the project, and the second thing is that it provides an opportunity to the advisers to evaluate critically and accordingly, give suggestions and feedbacks on the ideas of the students before they begin their task in a full-fledged manner.
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Report writing is a basic assignment which every student in Australia, whether at high school level or college and university, is asked to submit. It differs from one level to the other like in high schools; the report writing that is asked to be done is somewhat very different from the one that is given to the students at the colleges or universities. Report writing covers various types of academic writings like that of the research report, a book report, a business report, etc.
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The best option that the students can look for is the Academic Assignments which is a highly reliable and responsible custom writing service provider that provides any kind of writing related to the thesis, dissertation, report and many others. Academic assignments provide an unmatchable service in report writing. It has been over 8 years that the Academic Assignments is providing with all these services and is still continuing with its service with excellence. The team of writers at the Academic Assignments is of certified experts with high skills and efficiency in writing. These experts give their best by spending their quality time for the purpose of the completion of a full report. The academic writers of our company possess a customized reporting style and have accumulated much experience in writing over the past years. The academic writer at our company is capable of providing report writings on any topics. They cover almost every topic related to the student courses. The academic writers are proficient in producing good reports that are worthy of helping the students to score high grades. When it comes to topics related to research on a high-quality basis, we are experienced in performing several types of research on the assigned topics and propose reliable reports on the findings. Our capability and efficiency lie in both qualitative analyses as well as data analysis. Based on the analysis, we offer logical reports easily. So students, if you are looking for the best academic, report and essay writing services in short time, the best place to search for is the Academic Assignment