Harrison Keyes-Benchmarking

Harrison-Keyes Generic Benchmarking

The evolving world of business has necessitated change for companies. This change has moved some companies to the next level, while others have suffered. The difference between the companies that succeed and those that don’t is important for generic benchmarking. Examining how companies have enacted and sustained new initiatives can be invaluable for a company looking to change themselves. The Harrison-Keyes (HK) Publishing Company is looking to change their business model. This paper examines companies that have gone through similar changes, and how generic benchmarking could greatly aid HK in their future.

Identification of Key Course Concepts

Organization Strategy and Project Selection:

Organization strategy is the envisioning of a future for an organization, the creation of value to customers, and building and sustaining a strong marketplace position. There are three critical elements of organizational strategy. The first element is the organization’s vision which describes the business for this organization. The second element is the mission which describes the current and long-term objectives for this organization. In addition, the third element is the competitive advantage which is what differentiates this organization from others. The implementation of projects is the method in which an organization’s strategy is fulfilled. Every project should contribute value to the organization’s strategic plan, which is designed to meet the future needs of its customers (Gray & Larson, 2005, p. 21).

Project Management Structure:

Project management structure is the technique in which firms implement projects. There are four different project management structures: functional organizations, dedicated project teams, matrix, and network organization (Gray & Larson, 2005, p. 55).

Project Planning:

Project planning is a disciplined, structured method for selectively collecting information to use through all phases of the project life cycle, to meet the needs of all stakeholders and to measure performance against the strategic plan of the organization (Gray & Larson, 2005, p 99).

Comparison of the practices of each company related to those key concepts

Organization Strategy and Project Selection

Organizational strategy is defined by the firm’s vision, mission and competitive advantage. Each of the companies in our benchmarking research has understood the importance of matching project selection to their organizational strategy. For example, Open Silicon, Inc. strived to provide their customers with solutions with a delivery and accuracy rates of at least 90%. To that end, the firm only accepted projects that they felt would allow them to meet those goals. Johnson and Johnson developed a structure that would protect their branding image in reference to their core products.

Pfizer used outsourcing to manage costs and improve operations. Samsung evaluated core competencies and transformed into a matrix organization to improve growth and profitability. Vance Publishing’s goal is to establish new core competencies by developing products that are not dependent on print advertising revenue. The company sees digital media publishing as the direction for their future. Obviously there are many routes to take in the project selection process. The key is to focus on the company’s vision for the future and align the project selection process accordingly.

Project Management Structure

There are four different project management structures that can be used to implement projects: functional organization, detailed project teams, matrix, and network organizations. There are pros and cons to each type. Functional organizations manage projects within its existing functional hierarchy. This allows the firm to manage projects without making a drastic change in their organizational structure. It also capitalizes on the in-depth expertise of staff and the flexibility of staff use during the life of the project. Project integration can also be a problem because functional specialists usually focus only on their contribution to the project and don’t take the bigger picture into consideration. McGraw Hill and MetLife both use this type of project management structure.

Rohm and Haas, New England Financial and Siemens Medical Group all represent the dedicated project team form of project management structure. Dedicated project teams operate as separate units, or divisions, from the rest of the parent organization. The advantages to this type of project management structure are that it is simple, fast, and cohesive and promotes cross-functional integration. However, it can be expensive and could cause internal strife.

Samsung represents a matrix project management structure. A matrix represents a hybrid of the functional organization and dedicated project teams. Project teams report both to functional managers and to project managers. A matrix allows for efficient project management because the project focus is heightened. However, it can be slow and cause dysfunctional conflict.

The final type of project management structure is the network organization. The network organization is where several companies form an alliance to provide products and/or services to customers. There are several advantages to this arrangement. Each member of the alliance can provide a high level of expertise and aide in cost reduction. On the flip side, conflict could arise between the members especially is breakdowns in coordination occur. Examples of the network organization are Johnson and Johnson, Pfizer and Open Solutions, Inc.

Project Planning

Proper planning throughout the entire project life cycle is important to ensure success. By focusing on a limited portfolio of designs, Open Silicon, Inc. was able to streamline processes and create a checklist to take to project from beginning to completion in an efficient and timely manner. Siemens Medical Solutions believes meticulous project management is essential to their ability to provide their customers with timely solutions within budget expectations. In response, the company created the PM@Siemens program to promote standard project management processes throughout the organization. MetLife used rigorous planning in its new retirement package initiative by ensuring that all questions were answered and all outcomes were considered before the launch of the program.

By aligning project selection